Cement News tagged under: Mexico

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GCC sees higher volumes and bettter pricing

19 August 2015, Published under Cement News

Grupo Cementos de Chihuahua (GCC) reported a 19 per cent rise YoY in second-quarter net sales to MXP3051m (US$186m) on the back of higher volumes and a better pricing environment both in its Mexican and US markets. In the US, sales rose by 19.6 per cent in the quarter, totalling MXP2190.3m. This reflected the two per cent rise in cement sales driven by deliveries in Minnesota, Texas, Iowa and South Dakota. Ready-mix volumes remained at the previous year’s level as adverse weather conditio...

Cemex completes refinancing of its 2012 facilities agreement

04 August 2015, Published under Cement News

Cemex announced yesterday that it has fully repaid the total amount outstanding of approximately US$1.94bn under the facilities agreement dated 17 September 2012, as amended from time to time, with new funds from 17 financial institutions. These lenders have joined the credit agreement dated 29 September 2014, as amended (the Credit Agreement) under new tranches, allowing Cemex to increase the average life of its syndicated bank debt to approximately four years. Other financial institutions ...

Mexico: cement price up 8%

24 July 2015, Published under Cement News

In the year to date, the price of cement in Mexico has increased by just over eight per cent. This follows a price rise of nine per cent in 2014, said Juan Francisco Sanchez Kramer, investor relations director of Elementia. The price movement is on the back of an expected rise in demand due to private and public infrastructure projects. He added that the Mexican construction sector has large potential. Significant population growth, an expanding middle class and more than 120m people witho...

Cemex 2Q like-for-like net sales up 5%

23 July 2015, Published under Cement News

Cemex announced yesterday that consolidated net sales reached US$3.8bn during the second quarter of 2015, representing a decline of eight per cent YoY, or an increase of five per cent on a like-for-like basis for ongoing operations and adjusting for currency fluctuations. The increase was due to higher prices, in local currency terms, in most operations, as well as improved volumes in most products in Mexico, US and northern Europe and Asia regions. Operating EBITDA increased by one per ce...

Elementia raises MXN3.93bn with IPO, Mexico

17 July 2015, Published under Cement News

Mexican construction holding Elementia raised MXN3.93bn (US$250.15m) with its initial public offering (IPO) on 9 July 2015. The company set an initial price of MXN17 per share and obtained resources 15 per cent below the estimated target of MXN 5.20bn. The maximum share price reached MXN18.50 which resulted in a net sum of MXN 3.77bn obtained, which will be invested in Fortaleza, the company's cement division. The resources will cover the expansion of production capacity at its Tula ...

Cemex awards ecoperating Plus certification to building in Tijuana, Mexico

10 July 2015, Published under Cement News

Cemex announced that it has awarded the ecoperating Plus certification to Torre Cosmopolitan, a sustainable and innovative commercial building, located in Tijuana, Baja California, México. The ecoperating Building Certification accredits buildings, during their design, construction and/or operation phase, with notable sustainable features and performance above the market standard. Cemex recognises projects that save energy, water and reduce the environmental impact associated to constructi...

Torre Reforma: a concrete giant in Mexico City

09 July 2015, Published under Cement News

Even before its official inauguration in late 2015, Torre Reforma, designed by the Mexican architect Benjamín Romano from LBR&A Arquitectos, is already an architectural icon in Mexico. At 807ft and 57 levels, this emblematic corporate building is the tallest in Mexico City. Characterised by both its slimness and strength, the walls that serve as the backbone of the tower were built with Cemex Fortis. The high-strength properties of this concrete allow it to bear the weight of the slabs, wh...

Mexico: Elementia plans to raise about US$290m in IPO

29 June 2015, Published under Cement News

Mexican building materials company Elementia plans to raise about MXN4.5bn (US$290m) in its initial public offering next month. A preliminary prospectus detailed that Elementia plans to offer 201 million shares at a range of between 20 and 25 pesos per share. The IPO will take place on 9 July and shares can begin trading on 10 July, the company said. It will also include a 15 per cent over-allotment above the base amount, which will bring the total number of shares to about 231 million, re...

Cemex raised to Buy at Longbow

28 May 2015, Published under Cement News

Cemex is upgraded to Buy from Neutral by Longbow, based on continually improving fundamentals in the cement industry with price increases of 8-10 per cent supported by volume growth of 6-8 per cent. In a report published Wednesday, Longbrow Research analyst said utilisation rates are climbing and contacts are concerned about available capacity in late 2015 and early 2016; these factors, including limited driver availability, suggest continued suppliers' pricing power. US driver A re...

Molins sees net 1Q15 profit up 132%

14 May 2015, Published under Cement News

Spanish cement producer Cementos Molins reported a net profit of EUR15.1m in 1Q15, up 132 per cent YoY from EUR6.5m in 1Q14. Although domestic sales improved by 7.1 per cent, the company said the advance was “insufficient”. EBITDA reached EUR2.1m, but net profit remained in the red. Its Mexican subsidiary Corporación Moctezuma posted a 37.3 per cent rise in sales while Argentina’s Cementos Avellaneda saw revenues increase by 51.1 per cent. In Uruguay, Cementos Artigos saw a 34.3 per cent i...