Cement News tagged under: Mexico

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Morgan Stanley maintains Cemex rating

27 January 2014, Published under Cement News

Morgan Stanley has maintained its 'Overweight' rating on Cemex, raising its price target to US$14.00 from US$13.00. It believes that the Mexican cement major could be turning the corner in its domestic market where demand will be driven by infrastructure in the first half of the year, and by retail and housing projects in the latter half. Morgan Stanley analysts Nikolaj Lippmann and Lillian Starke, have said that the Cemex-Holcim asset swap deal announced in August 2013 could be the fir...

Cemex included in UN Global Compact Stock Index

12 November 2013, Published under Cement News

Cemex announced today that it has been selected for inclusion in the United Nations Global Compact 100– a new global stock index that combines corporate sustainability and baseline financial performance. “We are pleased that our sustainability policies and activities have been recognised in this way,” Lorenzo H. Zambrano, Cemex’s Chairman and CEO. “For many years corporations and investors have been looking for the positive link between responsible business practices and stock-market retur...

Holcim held back by weaker Indian and Mexican markets

05 November 2013, Published under Cement News

Holcim's turnover for the first nine months declined by 6.1 per cent to CHF14,941m, as weaker Indian and Mexican markets hold back the company's performance. In euro terms the reduction was 8.0 per cent to EUR12,136m and in US dollar terms the decline was 5.7 per cent. The Asia Pacific region generated 37.5 per cent of group turnover, down from 39.3 per cent a year earlier, while Europe represented 28.4 per cent, up from 26.5 per cent. Latin America contributed 17.1 per cent against 15.6 ...

Cement imports - fortress Mexico breached

25 October 2013, Published under Cement News

The first industrial scale consignment of bagged cement in 25 years has successfully been imported to Mexico, marking a unique milestone in the recent history of the Mexican building materials sector. Shipunloading at Puerto Progreso, Mexico On 9 October, the vessel M/N Atenea docked at Puerto Progreso on the Yucatan Peninsula with a cargo of 2850t of bagged cement, according to a spokeperson for Comercio para el Desarrollo Mexicano del Sureste SA de CV (CDMS), the import compan...

Cemex: 9M13 turnover edges ahead

25 October 2013, Published under Cement News

For the first nine months of the year, Cemex' turnover edged ahead by 0.7 per cent to  US$11,352.7m but but EBITDA eased by 0.3 per cent to US$2001.2m as Mexico continues to drag on the company's performance although substantial improvements are seen in the US. The trading profit improved by 12.3 per cent to US$926.3m while the net interest charge increased by 8.3 per cent to US$1,139.4m.  The pre-tax loss was reduced by 27 per cent to US$174.3m, but a 53 per cent increase in the tax cha...

Cemex Latin America cement shipments edge ahead, grows stronger downstream

24 October 2013, Published under Cement News

Cemex Latin American Holdings' turnover for the first nine months of the year advanced by eight per cent to US$1287.8m, while the EBITDA increased by 16.2 per cent to US$474.4m. The increase at the trading level was a little less at 14.1 per cent to US$405.4m. After a net interest charge of US$86.8m, the pre-tax profit amounted to US$309.1m. Net debt at the end of September stood at US$1345m, to give a gearing level of 94.7 per cent, with 88 per cent of the total gross debt being denomina...

Cemex third quarter loss expected to narrow

21 October 2013, Published under Cement News

Cemex is expected to post a narrower third quarter loss for the July-September period of 2013 led by a pick-up by US sales, the company’s biggest market. According to a Reuters' survey of six analysts, the Mexican cement major is expected to report a loss of US$22m compared with a loss of US$203m a year earlier. An increase in US sales is expected to offset weak performances in Europe and Mexico, the news agency said. Analysts expect third-quarter results to show that Cemex sold more cemen...

Fitch rates Cemex outlook Stable

07 October 2013, Published under Cement News

Fitch Ratings has assigned 'BB-/RR3' ratings to Cemex's proposed floating rate senior secured notes due in 2018 and senior secured notes due in 2021. The 2018 and 2021 notes will be guaranteed by Cemex Mexico, Cemex Concretos, Empresas Tolteca de Mexico, Cemex Espana, New Sunward Holding BV, Cemex Asia BV, Cemex Corp, Cemex Egyptian Investments BV, Cemex Egyptian Investments II BV, Cemex France Gestion, Cemex Research Group AG; Cemex Shipping BV and Cemex UK. The rating outlook for Cemex ...

Cemex announces pricing of senior notes

25 September 2013, Published under Cement News

Leading Mexican cement major Cemex priced US$1.4bn in senior notes Wednesday. The debt sale comes after the Mexican government's issuance Monday of US$3.9bn in 10-year global bonds, of which around US$2.5bn were used to extend the average maturity of the government's foreign debt. Cemex said it priced US$1bn in notes due 2021 with fixed annual interest of 7.25 per cent, and US$400m in notes due 2018 that will pay a floating rate of 4.75 percentage points above three-month Libor. The compan...

US to drive gains in Cemex EBITDA – report

23 September 2013, Published under Cement News

The US construction sector is expected to be the main driver behind an annual 12.6 per cent rise in Cemex’s EBITDA over the next five years, a report by Banco Monex has stated. Cemex is expected to achieve an annual growth rate in sales and EBITDA of 6.7 per cent and 12.6 per cent respectively over the next five years, driven by a recuperation of the US construction sector, the report said. In the first half of this year, Cemex’s United States, turnover advanced by a further 8.4 per cent t...