Cement News tagged under: Mexico

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Fitch upgrades Grupo Cementos de Chihuahua's ratings to 'BB'; outlook Stable

13 January 2016, Published under Cement News

Fitch Ratings has upgraded Grupo Cementos de Chihuahua (GCC) local and foreign currency Issuer Default Ratings (IDRs) to 'BB' from 'BB-'. Fitch also upgraded GCC's US$260m senior notes due 2020 to 'BB' from 'BB-'. The rating outlook is Stable. The ratings upgrade reflects the strengthening of US residential construction across several of the company's markets as well as a favourable economic environment in northern Mexico that should support cement demand in the state of Chihuahua. Robust...

Mexico: Cruz Azul opens second Palmar de Bravo line

14 December 2015, Published under Cement News

Mexico's Cooperative la Cruz Azul recently opened a second production line at its Palmar de Bravo cement works, operated by its subsidiary CYCNA de Oriente. "CYCNA Orient today reaches 100 per cent of its design capacity. Previously this plant produced 1.2Mta of cement, but with the second line an additional 1.5Mta can be manufactured, giving a total of 2.7Mta, “said Guillermo Alvarez Cuevas, CEO of Cooperativa La Cruz Azul.

Cemex planning another price rise in Mexico

09 December 2015, Published under Cement News

Cemex plans to increase prices for bulk cement in Mexico starting January 2016, according to local media. Reforma reported that a letter was sent by Cemex to its customers in November to inform them of the pending hike. JP Morgan has noted that Cemex had raised prices by 21 per cent over FY-2015 which resulted in a decline in the company’s market share as peers had raised prices to a much lower extent. In the research house's view, this is likely to result in continued volume improvement ...

Cemex: senior level organisational changes

02 December 2015, Published under Cement News

Cemex announced today changes to its senior level organisation, effective 1 January 2016. All of the executives named below are current executive committee members: Juan Romero Torres has been ratified as President of Cemex Mexico. Ignacio Madridejos Fernández has been appointed President of Cemex USA. Jaime Gerardo Elizondo Chapa has been appointed President of Cemex Europe. This new region will now integrate all the company's operations in Europe including Spain and Croatia. ...

XXIV Cemex Building Award winners announced

11 November 2015, Published under Cement News

Cemex announced the winners of the XXIV Edition of the Cemex Building Award at an awards ceremony held in the Colegio Vizcainas, a nonprofit educational institution in Mexico City. This year’s Cemex Building Award received 637 entries in the Domestic Edition and 36 entries in the International Edition. The participants’ buildings were constructed in Colombia, Costa Rica, Croatia, the Dominican Republic, Germany, Guatemala, Hungary, Mexico, Nicaragua, Panama, Puerto Rico, Spain, and the Uni...

Cemex says strong dollar may delay higher debt rating

10 November 2015, Published under Cement News

Mexican cement major Cemex said on Thursday that the strength of the US dollar could postpone the ability of the company to win back an investment grade debt rating, according to a report by Reuters. Cemex, burdened with a heavy debt load from its 2007 acquisition of Australia's Rinker, has been focusing on reducing debt in a bid to regain an investment-grade rating by 2018. "The question now is what to expect with respect to the strength of the dollar. If it stays like this, then getting ...

Cementos Chihuahua 3Q15 sales rise 23% YoY

28 October 2015, Published under Cement News

Mexico’s Cementos Chihuahua posted sales of MXN3.983bn (US$241.4m), up 23 per cent YoY, in the third quarter of 2015. The rise in turnover has been attributed to higher volumes and prices in Mexico and the USA. Sales in the US expanded by 24 per cent on the back of a three per cent advance in cement volumes in Minnesota, Texas and Colorado as the building and infrastructure sectors generated extra demand. This helped offset an 11 per cent fall in concrete sales. In Mexico, sales saw a ...

Cemex’s data centre recognised for energy efficiency

14 October 2015, Published under Cement News

Cemex announced today that its Data Center, located in Monterrey, Mexico, was awarded the Certified Energy Efficient Datacenter (CEEDA) Gold Certification – the highest recognition for energy efficiency strategy in the datacenter industry. Cemex is the first CEEDA Enterprise Gold Certified company in the Americas and only the fifth to merit this recognition in the world. The Cemex Data Center, located in Monterrey, Mexico Cemex earned this honour after a four-month assessment pr...

Mexican cement firms line up for airport contracts

22 September 2015, Published under Cement News

A group of 20 Mexican cement firms from AMCI, the association of independent concrete companies, are to invest MXN300m (EUR15.90m, US$18.03m) in the installation of a sector cluster to supply concrete for the construction of Mexico City's new international airport (NAICM). These firms will provide 48 per cent of the concrete required for the project and are currently negotiating with the Mexican construction industry chamber, CMIC, to obtain the association's support for the initiative....

Mexican cement prices increase

07 September 2015, Published under Cement News

Mexican newspaper Reforma reported that cement prices in the country were increased by about six per cent on 1 September. This is the third price hike in the year which suggests the earlier two have been absorbed by the market. At 1H15 stage, Holcim reported pricing to be up 5.3 per cent and Cemex noted six per cent growth with a forecast for mid/high single-digit growth. Mexico generated five per cent of proforma EBITDA for LafargeHolcim last year and we expect pricing to be up five p...