Cement News tagged under: Mexico
Mexico City government agrees preferential price with CANACEM08 November 2017, Published under Cement NewsMiguel Angel Mancera, Mayor of Mexico City, has confirmed an agreement between the capital’s government and the national cement industry association, CANACEM, to access preferential prices in the acquisition of materials for reconstruction projects. He further explained that the special prices would also apply when the materials were used in earthquake reconstruction of buildings or infrastructure. CANACEM representative, Luis Guillermo Colin, said the industry would provide technical... |
Cemex 3Q17 net sales total US$3.5bn27 October 2017, Published under Cement NewsCemex announced that its consolidated net sales reached US$3.5bn during the 3Q17, representing an increase of two per cent, or an increase of one per cent on a like-to-like basis, versus the comparable period in 2016. Operating EBITDA decreased by eight per cent during the quarter to US$702m versus the same period in 2016. Fernando A Gonzalez, Cemex Chief Executive Officer, said: "We are pleased with the double-digit, year-to-date growth in operating EBITDA in our two largest markets: Mex... |
Cemex forecasts 0.5Mt required to restore Mexican earthquake damage27 October 2017, Published under Cement NewsCemex said on Thursday that reconstruction efforts from two major earthquakes that hit Mexico last month will likely require 500,000t of cement over the next 12 to 18 months. The quakes, which together killed more than 470 people, collapsed dozens of buildings and damaged more than 180,000 homes across the country. |
Elementia sees 39% rise in 3Q EBITDA26 October 2017, Published under Cement NewsMexico-based Elementia reported EBITDA of MXN1.296bn (US$67.9m) in 3Q17, an increase of 38.9 per cent YoY. The company attributes the rise in earnings to higher sales and prices in its cement division. The company posted third-quarter revenues of MXN6.555bn, up 40 per cent when compared with the July-September 2016 period. Net income reached MXN340m, swinging the building materials firm back into the black after a loss of MXN47m in 3Q16. |
GCC reports 16% sales boost in 3Q results25 October 2017, Published under Cement NewsGrupo Cementos de Chihuahua announced its results for the third quarter of 2017, which reflect the successful integration of the operations acquired in Texas and New Mexico late last year as well as favourable pricing in the US and Mexico, and progress in implementing the company’s growth strategy. Total sales increased 15.9 per cent YoY to MXN4.968bn (US$258.8m) in 3Q17 from MXN4.288bn. The company’s 3Q EBITDA saw a similar rise to MXN1.421bn, up 14.2 per cent from MXN1.245bn. Margins sli... |
Building materials price rise sees 8% reduction in Mexican public works16 October 2017, Published under Cement NewsThe increase in prices of building materials including cement is leading to a reduction of at least eight per cent in infrastructure works planned by Mexico’s Infrastructure Secretariat for next year, according to Ricardo Martînez Terrazas of the Secretriat. However, he said it has a minor impact as it mainly affects the construction of roads with hydraulic cement. “It is only a minor impact on road infrastructure as the key input is asphalt and we have not had any important increases, but... |
Cemex will supply concete for Mexico City's new international airport03 October 2017, Published under Cement NewsCemex has announced it will supply 320,000m 3 of concrete for the Terminal Building of Mexico City’s new international airport. In addition to the Terminal, Cemex previously announced the supply of 845,000m 3 of concrete for the construction of Runway 2, of which 770,000m 3 will be utilised for the cemented base. The Terminal Building will be "X" shaped and comprise a surface area of approximately 734,000m 2 distributed on four levels, as well as 95 fixed contact doors and 68 remot... |
S&P upgrades Cemex to BB26 September 2017, Published under Cement NewsCemex SAB de CV announced that S&P Global Ratings upgraded its corporate credit rating in its global scale to BB from BB-. According to S&P, the upgrade reflects the continued improvement of Cemex's financial performance and leverage metrics during 2017, fuelled by a faster-than-expected completion of the asset divestment plan, the early conversion of part of the optional convertible notes due March 2018, and a generally favourable business conditions in its main markets. In addition, S&P... |
Cemex celebrates 25 years of global growth14 September 2017, Published under Cement NewsCemex celebrates the 25th anniversary of the start of its globalisation strategy by commemorating the company’s entry into the Spanish market in 1992. Cemex began its international diversification strategy by acquiring Spanish companies Valenciana de Cementos Portland and Auxiliar de la Construcción – at that time the two largest cement makers in Spain. Initiated in 1992, its global diversification strategy enabled Cemex to consolidate its position as one of the most important compet... |
Fortune recognises Cemex as a World Changing Company12 September 2017, Published under Cement NewsCemex announced that it has been included in the Fortune 2017 Change the World List, a ranking that highlights 50 companies worldwide that have had a positive social impact through activities that are part of their core business strategy. With its inclusion in Fortune’s 2015 list, this marks the second time that Cemex was recognised among the world’s top 20 companies in this ranking. Fortune recognised Cemex's efforts to foster sustainable building practices by highlighting the company’s “... |