Cement News tagged under: Mexico

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Cemex confident on medium-term goals

14 February 2014, Published under Cement News

Cemex remains confident that it is on track to meet its medium-term EBITDA goal as it continues to capture the full potential from its existing portfolio to improve profitability and return to investment-grade status, the company said during its annual investor gathering. Speaking on the company’s strategy and outlook during Cemex Day 2014 held yesterday, Juan Pablo San Agustin, executive VP of strategic planning and new business development, reiterated the company's intention of achieving...

Cemex in tyre agreement with General Motors

12 February 2014, Published under Cement News

Cemex has reached an agreement with General Motors (GM) of Mexico to use non-recyclable waste from the carmaker’s manufacturing plant in San Luis Potosí in its kilns. In exchange for the waste, Cemex will power GM’s thermoelectric generating plant. The step will allow both companies “to decrease consumption of non-renewable resources,” according to GM. It will also avoid the need to ship waste abroad.

Cemex falls back in Mexico but advances in the USA

07 February 2014, Published under Cement News

Cemex' turnover improved by 1.6 per cent in 2013 to US$15,226.5m and EBITDA emerged 0.7 per cent ahead at US$2643m, while the trading profit advanced by 17.4 per cent to US$1517.8m. The net interest charge rose yet again and was up by 11.1 per cent to US$1551.5m while the pre-tax loss was reduced by 34.3 per cent to US$264.6m, and the net attributable came down by 7.6 per cent to US$843.1m. Net debt, including perpetual notes, increased by four per cent during the year to US$16,306m. Shareh...

Fitch Ratings raises GCC outlook

27 January 2014, Published under Cement News

Fitch Ratings has revised its outlook for Grupo Cementos de Chihuahua (GCC) from 'Stable' to 'Positive.' The upward revision reflects Fitch's view that GCC's operations could gain momentum resulting from US construction spending expanding in 2014 driven by continued strength in residential construction, and to a lesser extent in modest recovery in commercial and public construction spending. The outlook also incorporates an expectation of higher public spending in Mexico in 2014. In Fitch...

Morgan Stanley maintains Cemex rating

27 January 2014, Published under Cement News

Morgan Stanley has maintained its 'Overweight' rating on Cemex, raising its price target to US$14.00 from US$13.00. It believes that the Mexican cement major could be turning the corner in its domestic market where demand will be driven by infrastructure in the first half of the year, and by retail and housing projects in the latter half. Morgan Stanley analysts Nikolaj Lippmann and Lillian Starke, have said that the Cemex-Holcim asset swap deal announced in August 2013 could be the fir...

Cemex included in UN Global Compact Stock Index

12 November 2013, Published under Cement News

Cemex announced today that it has been selected for inclusion in the United Nations Global Compact 100– a new global stock index that combines corporate sustainability and baseline financial performance. “We are pleased that our sustainability policies and activities have been recognised in this way,” Lorenzo H. Zambrano, Cemex’s Chairman and CEO. “For many years corporations and investors have been looking for the positive link between responsible business practices and stock-market retur...

Holcim held back by weaker Indian and Mexican markets

05 November 2013, Published under Cement News

Holcim's turnover for the first nine months declined by 6.1 per cent to CHF14,941m, as weaker Indian and Mexican markets hold back the company's performance. In euro terms the reduction was 8.0 per cent to EUR12,136m and in US dollar terms the decline was 5.7 per cent. The Asia Pacific region generated 37.5 per cent of group turnover, down from 39.3 per cent a year earlier, while Europe represented 28.4 per cent, up from 26.5 per cent. Latin America contributed 17.1 per cent against 15.6 ...

Cement imports - fortress Mexico breached

25 October 2013, Published under Cement News

The first industrial scale consignment of bagged cement in 25 years has successfully been imported to Mexico, marking a unique milestone in the recent history of the Mexican building materials sector. Shipunloading at Puerto Progreso, Mexico On 9 October, the vessel M/N Atenea docked at Puerto Progreso on the Yucatan Peninsula with a cargo of 2850t of bagged cement, according to a spokeperson for Comercio para el Desarrollo Mexicano del Sureste SA de CV (CDMS), the import compan...

Cemex: 9M13 turnover edges ahead

25 October 2013, Published under Cement News

For the first nine months of the year, Cemex' turnover edged ahead by 0.7 per cent to  US$11,352.7m but but EBITDA eased by 0.3 per cent to US$2001.2m as Mexico continues to drag on the company's performance although substantial improvements are seen in the US. The trading profit improved by 12.3 per cent to US$926.3m while the net interest charge increased by 8.3 per cent to US$1,139.4m.  The pre-tax loss was reduced by 27 per cent to US$174.3m, but a 53 per cent increase in the tax cha...

Cemex Latin America cement shipments edge ahead, grows stronger downstream

24 October 2013, Published under Cement News

Cemex Latin American Holdings' turnover for the first nine months of the year advanced by eight per cent to US$1287.8m, while the EBITDA increased by 16.2 per cent to US$474.4m. The increase at the trading level was a little less at 14.1 per cent to US$405.4m. After a net interest charge of US$86.8m, the pre-tax profit amounted to US$309.1m. Net debt at the end of September stood at US$1345m, to give a gearing level of 94.7 per cent, with 88 per cent of the total gross debt being denomina...