Cement News tagged under: Mexico
The world in 2016 and outlook for 201710 February 2017, Published under Cement NewsThis year will be a challenging year for the multinational cement companies, which are now faced by uneven economic performance in the emerging markets, combined with a new era of global political uncertainty that could further destabilise markets. On balance, however, global growth looks set to be anchored by positive trends in the major markets of China, India and the US, more than offsetting the poor performance elsewhere. The large cement majors have spent years diversifying their por... |
Cemex sells concrete pipe business01 February 2017, Published under Cement NewsCemex has completed the sale of its reinforced concrete pipe business to Quikcrete Holdings. The transaction was carried out for around US$500m, including a potential additional US$40m depending on future results. Cemex will use the funds to reduce its debts as well as for general corporate purposes. |
Cruz Azul to invest US$300m in plants15 December 2016, Published under Cement NewsAs part of its plant modernisation programme, Mexico’s Cruz Azul plans to spend US$300m in upgrading its four plants in the next four years. Cooperativa La Cruz Azul President, Guillermo Álvarez, said half of the sum would be spent in the next two years with the remainder earmarked for 2019-20. “We will make the investment in a gradual manner in each two-year period to prevent decapitalisation of the company,” he said. The company’s oldest cement lines will be updated with latest-gene... |
Mexico: Cemex increases cement price 11%15 December 2016, Published under Cement NewsCemex notified its distributors that from January 2017 it will increase the price of grey cement by around 11 per cent nationwide. Other producers such as Holcim and Cruz Azul are following suit with similar price rises of around MXN300 (US$14.60) Distributors of Construramas, Cemex’s chain of shops in Nuevo Léon and other Mexican states said the latest price rise will see cement at MXN2740-3000/t. Retail customers in Nuevo Léon will see the price of a 50kg bag of cement rise by MXN155-172... |
Fitch: Latin America 2017 outlook stable13 December 2016, Published under Cement NewsAccording to a new Fitch Ratings report, the 2017 Latin American cement outlook for both ratings and the sector is stable. Associate Director at Fitch Ratings, Gilberto Gonzalez: “Issuers have built significant operations in the US, which should benefit from increased public and private spending… Housing starts should increase seven per cent to 1.26m, which should provide an additional boost.” For Argentina cement consumption is forecast grow in the mid-single digits, recovering some o... |
USA: Elementia acquires 55% stake in Giant Cement02 December 2016, Published under Cement NewsElementia, SAB de CV has announced that its Board of Directors has given its final approval for the completion of the acquisition of a 55 per cent stake and full control of Giant Cement Holding Inc, USA. Elementia will acquire the controlling stake from Cementos Portland Valderrivas SA for US$220m. Elementia used proceeds obtain from he capital increase through a Rights Offering to complete the US$220m deal, resulting in an implied equity value of US$400m. The company then granted Giant C... |
Cementos Moctezuma completes second line at Apazapan01 December 2016, Published under Cement NewsCementos Molins and Buzzi Unicem's Mexican joint venture, Cementos Moctezuma, announced that construction of the second production line at its Apazapan plant in Veracruz state has now been completed. The new line will fully enter operation on 15 December, when the mill is commissioned. The project, financed by the company through its own resources, represents an investment of US$23m. It will enable output at the works to rise by 20 per cent and increases capacity from 1.3Mta to 1.4Mta. |
Mexican peso depreciation causes substantial hike in cement prices21 November 2016, Published under Cement NewsThe depreciation of the Mexican peso against the US dollar has impacted negatively on the price cement and other building materials. In the year to date, cement prices have increased 14.8 per cent and between January 2015 and October 2016, prices have seen upward adjustments of 30 per cent, according to the National Institute of Statistics and Geography (Inegi). The increase in building material prices is due to their indexation in dollars and are quoted in international prices. The r... |
Cemex02 November 2016, Published under Cement NewsDuring the first nine months of the year, Cemex' turnover eased by 1.9 per cent to US$10,467.4m, while EBITDA was 8.5 per cent ahead at US$2138.1m. The trading profit advanced by 15 per cent to US$1452.2m while the net interest charge declined by 6.3 per cent to US$888.9m. The pretax profit more than trebled from US$164.7m to US$689.5m. The tax charge declined from 128.4 per cent to 18.2 per cent, leading to a net attributable loss being turned into a US$533.6m profit. The net debt at ... |
Cemex' gearing declines to a still high 164 per cent28 October 2016, Published under Cement NewsDuring the first nine months of the year, Cemex' turnover eased by 1.9 per cent to US$10,467.4m, while EBITDA was 8.5 per cent ahead at US$2138.1m. The trading profit advanced by 15 per cent to US$1452.2m while the net interest charge declined by 6.3 per cent to US$888.9m. The pretax profit more than trebled from US$164.7m to US$689.5m. The tax charge declined from 128.4 per cent to 18.2 per cent, leading to a net attributable loss being turned into a US$533.6m profit. The net debt at the en... |