Cement News tagged under: Mexico

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S&P upgrades GCC rating

06 June 2017, Published under Cement News

S&P Global Ratings has raised its long-term corporate rating on Grupo Cementos de Chihuahua to 'BB' from 'BB-'. The outlook is stable.   At the same time, S&P raised the issue-level rating on the $260m senior secured notes due 2020 to 'BB' from 'BB-'.   Following GCC's acquisition of various assets from Cemex in 4Q16 for approximately US$306m (consisting of one cement plant in Texas, two cement terminals located in Amarillo and El Paso, Texas and the concrete, aggregates, asphalt and bu...

Cemex participates in first underwater tunnel in Latin America

01 June 2017, Published under Cement News

Cemex participated in the construction of the Coatzacoalcos Underwater Tunnel in Veracruz, Mexico, an innovative infrastructure project in Latin America. The dimensions of this complex construction required the company to design and deliver special concretes to build the different structures that shaped the tunnel and its points of access. Because the construction was underwater, Constructora Túnel de Coatzacoalcos, the company managing the project, required Cemex to design specific concr...

Fitch affirms Elementia's IDR, Outlook Stable

19 May 2017, Published under Cement News

Fitch Ratings has affirmed Mexico-based Elementia, Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB+', as well as its long-term national scale rating at 'A+(mex)'. The Rating Outlook is Stable. "Elementia's ratings reflect its strong business profile characterised by geographic and product line diversification, leading market shares in copper and in several of its building systems products, which have high brand recognition. Other factors include a well-developed ...

Canacem: Mexico’s cement sector to grow 3% in 2017

12 May 2017, Published under Cement News

The Mexican cement sector is expected to grow by three per cent in 2017, as housing construction contracts, according to Osmín Rendón, president of the national construction chamber, Canacem. He said the cement price will continue to rise as in the last 5-7 years, but that the decision depends on individual companies and the pricing strategies they pursue. "Cement prices are diverse, there is no single price and this depends on the area and the brand. Each company will determine whether t...

Cemex hikes cement price 20% in Mexico

02 May 2017, Published under Cement News

Cemex increased its price for grey cement in Mexico by 20 per cent YoY in 1Q17. It represents the largest first-quarter increase in at least a decade and twice the seven per cent rate of inflation. No reasons were disclosed for the rise in prices. In addition, the company also announced a 4.3 per cent increase in investments to US$730m this year.  "One of our highest priorities is to recover our investment grade, so we continue to make significant progress in this quarter, from our 20...

Cemex reports jump in net profit

28 April 2017, Published under Cement News

Cemex reported a jump in net profit to US$336m in the 1Q17 from an income of US$35m in the same period of last year, as the Mexican major as the cement maker continued to sell assets and reduce debt. On a like-for-like (LFL) basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by six per cent during the 1Q17 to US$3.1bn versus the comparable period in 2016. Operating EBITDA on a LFL basis increased by two per cent during the quarter to ...

LafargeHolcim launches Disensa in Mexico

27 April 2017, Published under Cement News

LafargeHolcim has launched its franchise brand Disensa in Mexico. With the opening of retail stores for construction materials, the company expects to consolidate its presence in the self-construction segment. The cement producer plans to open 200 stores in 2017 and run a total 600 outlets by 2020. LafargeHolcim’s Regional Director of North America, Pascal Casanova,  explained in a statement that "Disensa relies on the economic conditions offered by Mexico and bets on the national mar...

Elementia invests US$250m in Mexican cement plant

24 April 2017, Published under Cement News

Elementia anounced it will invest US$250m in the expansion of its Tula cement plant in Hidalgo, Mexico. The project will see capacity at the works rise to 1.5Mta. The contract for the design, equipment supply, construction, installation and commissioning of the 3000tpd clinker plant was awarded to Fives FCB via its subsidiary Trituradora. The expansion is expected to be completed in mid-2017.

Mauricio Doehner new president of Mexico’s cement association

06 April 2017, Published under Cement News

Mauricio Doehner has been appointed as new president of Mexico’s cement association, Cámara Nacional del Cemento (Canacem). He replaces Billy Álvarez of Cruz Azul. The appointment is for one year with the option to re-elect him for a second period. The new president will focus on positioning cement more as an infrastructure option, promoting the use of alternative fuels, transportation efficiency and reducing environmental impact, the agency said. Mr Doehner is Executive Vice President...

Sika opens new cement plant in Coatzacoalcos

31 March 2017, Published under Cement News

Sika announced the opening of a new mortar cement factory in Coatzacoalcos, Veracruz, Mexico. The new plant will also start production of concrete additives previously owned by the company in Villahermosa, Tabasco, according to a company statement. "The new production site in Coatzacoalcos will strengthen our position in one of Mexico's four major business centres,” said José Luis Vázquez, Sika's regional manager for Latin America, in a statement. "From here, we can provide construction p...