Cement News tagged under: Mexico

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Holcim opens water treatment plant in Mexico

02 June 2014, Published under Cement News

Holcim has opened a water treatment plant in Mexico at its Ramos Arizpe complex operated by subsidiary Ecoltec. The plant, which will treat water contaminated by hydrocarbons, has a daily capacity of 40m3 and allows the firm to process water more efficiently.

Cemex releases 2013 Sustainability Report

29 May 2014, Published under Cement News

Cemex has released its 2013 Sustainable Development Report, which shows significant progress in major priority areas that align with the challenges of increasing urban populations. During 2013, Cemex worked to conceptualize and develop new products and solutions to promote efficient construction practices, preserve natural resources, lower the carbon footprint of its projects throughout their lifecycle, improve job site safety and foster a strong relationship with its communities an...

Cemex announces senior level changes

22 May 2014, Published under Cement News

Cemex has announced the following changes to its senior level organisation, effective immediately, following the sudden death of former CEO Lorenzo Zambrano early last week. Cemex’s corporate staff functions, will now be organized in six executive vice-presidencies, reporting to the CEO, and led by the following executives: Jose Antonio Gonzalez has been named as Cemex’s  new chief financial officer, replacing former CFO Fernando Gonzalez, who has been promoted to the chief executive role....

Moctezuma to double Apazapan capacity

20 May 2014, Published under Cement News

Cementos Moctezuma announced investments of US$200m to double capacity of its Apazapan works in Veracruz, Mexico. The Apazapan plant came on-stream at the end of 2010 with a capacity of 1.3Mta. The expansion programme will see Mexico’s fourth-largest producer increase capacity at the plant by the same amount. Moctezuma, owned by Buzzi Unicem and Cementos Molins, operates three plants in total with combined capacity of 6.3Mta capacity.

Cemex increases first-quarter volumes

01 May 2014, Published under Cement News

Cemex' first-quarter turnover increased by 8.2 per cent to US$3590.7m, while the EBITDA improved by 2.7 per cent to US$535m. The trading profit rose by 11.7 per cent to US$267.7m. The net interest charge increased by 10.4 per cent to US$406.9m, to give a pre-tax loss 11.3 per cent higher at US$167.9m. The effective net debt was 0.9 per cent higher at US$16,325m, of which 88 per cent was in US dollar, 10 per cent in euro and two per cent in Mexican peso, with 66 per cent of the debt being ...

Fitch: Spanish tax ruling negative for Cemex

28 April 2014, Published under Cement News

The recent ruling by Spanish tax authorities to fine Cemex Espana EUR455m will slow the recovery of Cemex’s credit profile but will not result in a negative rating action to the 'B+' rating of Cemex or the 'BB-' of the company's bonds, according to Fitch Ratings. Cemex has announced it plans to appeal this fine, which was levied for alleged underpayment of taxes between 2006 and 2009. Cemex will not have to make payments, in whole or in part, during the appeal process. The timing of the res...

Cemex completes financing for wind farm project

11 April 2014, Published under Cement News

Cemex has successfully completed the financing of Ventika, a project comprising the construction of two 126MW wind farms each, for a total nominal capacity of 252MW, to be located in General Bravo, Nuevo Leon, Mexico. The investment for the project is approximately US$650m, of which 75 per cent corresponds to debt and 25 per cent to equity. The debt financiers are the North American Development Bank, Banobras, Nafin, Bancomext and Santander. The equity partners are Fisterra Energy, a compa...

Buzzi Unicem hit by weak Italian market

28 March 2014, Published under Cement News

On a turnover 2.1 per cent lower at EUR2753.1m, Buzzi Unicem's EBITDA improved by 5.7 per cent to EUR481.2m. After writing down the assets in Italy and Ukraine by EUR57.7m and EUR39.9m, respectively, the trading profit (EBIT) showed a 24 per cent reduction to EUR149.8m. After a net interest charge 12.4 per cent lower at EUR110.5m, the pre-tax profit declined by 35.4 per cent to EUR50.3m. Because of a mismatch between where profits and losses were generated and tax payments, at the consoli...

Mexico and Argentina impact 2013 Molins results

03 March 2014, Published under Cement News

The market contraction in Mexico and a devaluation of the Argentine peso impacted the annual results of Cementos Molins. The Spanish company saw profit fall by 77 per cent to EUR10.1m although this is not comparable with the EUR20m of the previous year as the cement producer sold its stake in Cementos Artigas of Uruguay. Consolidated turnover noted a 9.4 per cent drop to EUR832m. Foreign companies accounted for 80 per cent of Cementos Molins consolidated profits. The Mexican and Argenti...

Cemex confident on medium-term goals

14 February 2014, Published under Cement News

Cemex remains confident that it is on track to meet its medium-term EBITDA goal as it continues to capture the full potential from its existing portfolio to improve profitability and return to investment-grade status, the company said during its annual investor gathering. Speaking on the company’s strategy and outlook during Cemex Day 2014 held yesterday, Juan Pablo San Agustin, executive VP of strategic planning and new business development, reiterated the company's intention of achieving...