Cement News tagged under: Mexico

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Lafarge announces joint venture with Elementia, Mexico

09 January 2013, Published under Cement News

Lafarge announces it has reached an agreement with Elementia to combine their cement assets in Mexico. Lafarge will bring its two plants of Vito and Tula for a total capacity close to 1Mta, while Elementia will contribute the new 1Mta plant it is currently building in central Mexico. This combination will significantly strengthen Lafarge's position in Mexico. The transaction, which involves no cash and is subject to regulatory approvals, is expected to close in 2H13, pursuant to the start...

Agencies withdraw ratings for Apasco’s bonds, Mexico

20 December 2012, Published under Cement News

Fitch Ratings and Standard & Poor's have withdrawn their AAA ratings for the MXP950m (US$74.5m) receivables-backed bonds issued by cement manufacturers Cementos Apasco and Concretos Apasco following repayment in full of the issuance, according to reports from the ratings agencies. The companies, subsidiaries of Holcim Apasco, repaid the issuance on 17 December, prior to the November 28, 2013 maturity date.

Cemex completes financial plan for 2012

18 December 2012, Published under Cement News

Cemex announced today the completion of its financial plan for 2012, which included several transactions to refinance and/or prepay debt scheduled to mature through 2014, thereby increasing the company’s financial flexibility and significantly reducing its refinancing risk. Under this year’s financial plan, Cemex reduced the amount of debt maturing through March 2015 to about US$650m, at currently prevailing foreign-exchange rates, of which approximately US$600m matures during the first qu...

Cemex to return to profitability in 2013?

21 November 2012, Published under Cement News

Mexican cement producer Cemex is seen on track to return to profitability as soon as 2013, according to analysts quoted by Reuters. The company recently refinanced US$6.7bn in debt, negotiating much-need room to push back looming payments for up to four years. Measures included a commitment to pay down US$1bn in March of next year, revised financial covenants and a debt swap, all of which have put relations with investors on a more comfortable footing.  In addition, Cemex floated its C...

Cemex: October ‘12

09 November 2012, Published under Cement News

During the first nine months of the year, Cemex' turnover came off by 2.1% to US$11,273.8m, but the EBITDA did improve by 9.0% to US$2,003.2m. The trading profit rose by 37.8% to US$1,921.8m and the net interest charge increased by 3.7% to US$1,044.8m. After taking losses on financial instruments and other non-trading items into account, the pre-tax loss, which had jumped by 113.2% a year earlier, fell by 74.7% to US$174.3m. The net attributable loss dropped by 64.8% to US$419.7m. The net d...

Cemex recognised for CO2 emissions performance and reporting, Latin America

02 November 2012, Published under Cement News

Cemex named one of Latin America’s best companies in CO2 emissions performance and disclosure Cemex has been named by the Carbon Disclosure Project (CDP) as the best Latin American company in terms of climate change data disclosure and one of the top ten in overall carbon emissions performance. The rankings were announced during the launching of the CDP’s latest report “CDP Investor Latin America 2012”, which comprises data on the emissions of greenhouse gases from 32 major companies in Arg...

GCC sales rise 13.3 per cent, Mexico

31 October 2012, Published under Cement News

Mexico-based cement producer Grupo Cementos de Chihuahua (GCC) has posted MXP2.58bn (US$197m) in sales for 3Q2012, up 13.3 per cent YoY. The company posted  EBITDA of MXP501m, up 0.5 per cent compared with the prior-year-period. Net consolidated income for the third quarter was MXP152m, up 266 per cent over the MXP43.8m loss registered in the same period of 2011. Increased sales were driven by a growth in sales volumes in the US, "higher aggregates and concrete block sales in Me...

Cementos Molins posts EUR31m profit, up 85%

31 October 2012, Published under Cement News

Spain’s Cementos Molins has posted a profit of EUR31.16m in the first nine months of the year. The 85 per cent rise has been attributed to successful foreign business, which continues to offset the decline in Spanish sales. The company’s operations in Spain have seen profits decline on the back of a 16 per cent drop in domestic sales as Spanish cement demand continues to post further lows. The drastic falls in consumption have seen cement demand plunge to a level not seen since the 1960s....

Cementos Moctezuma posts positive 3Q12 results

25 October 2012, Published under Cement News

Mexico’s Cementos Moctezuma 3Q12 net sales reached MXN2.297bn (US$177.7m), representing a rise of 12.7 per cent when compared to last year’s equivalent period. Operating profit climbed MXN757m, up from 3Q11’s figure of MXN573m. Pretax profits improved from MXN591m to MXN758m over the three-month period, according to information sent to the Mexican stock exchange. For the first nine months of the year, Cementos Moctezuma registered net sales of MXN6.820, increasing from MXN5.988bn, noted...

New Mexican cement player to enter the market

17 October 2012, Published under Cement News

Privately-held Mexican conglomerate Elementia, part-owned by billionaire Carlos Slim plans to list shares on the local exchange and is launching a cement company on the Mexican market, Reuters reports. Elementia plans an initial public offering in the medium term, and it is opening a cement company that aims to supply three per cent of the local market by next year, CEO Eduardo Musalem said on Tuesday. Elementia is backing the new cement maker that aims to begin operating a plant in Decemb...