Cement News tagged under: Mexico

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S&P revises GCC’s outlook to stable, Mexico

12 September 2013, Published under Cement News

Standard & Poor's has affirmed its B-rating for Mexico-based producer Grupo Cementos de Chihuahua (GCC) and has revised the outlook from positive to stable. The rating reflects GCC's "aggressive financial risk profile and weak business risk profile" and is constrained by the company's geographic concentration, limited scale and less than adequate liquidity. The company's operations were affected by a longer than expected winter in the US during 1H13 that "limited construction activiti...

Cemex launches new cement product in Mexico

09 August 2013, Published under Cement News

Cemex in Mexico has introduced a new product to the market, EXTRA cement, the result of almost three years of research and development. EXTRA cement is especially designed at the molecular level to reduce cracking due to plastic contraction by up to 80 per cent during the curing periods for concrete and mortars. It also creates a more manageable mix with better integration and cohesion, according to a statement released by Cemex. The curing process begins during the first few hours af...

Cemex announces pricing of US$1bn senior secured notes

06 August 2013, Published under Cement News

Cemex announced today the pricing of US$1bn of senior secured notes denominated in US dollars. Cemex intends to use the approximately US$995m of net proceeds from the offering to purchase a portion of the 9.50 per cent Senior Secured Notes due 2016 issued by Cemex Finance LLC, and the remainder, if any, for general corporate purposes, including the repayment of other indebtedness. Cemex currently expects to purchase a portion of the 2016...

Cementos Molins 1H profit falls 58%

01 August 2013, Published under Cement News

Cementos Molins closed the first half-year with a profit of EUR8.3m, 58 per cent down on 1H12. The decline has been attributed to the poor performance of the Spanish subsidiaries, which recorded a EUR22.4m loss. The company’s overseas divisions returned a profit of EUR30.7m. The group's total turnover decreased by 8.6 per cent from the 1H12 and reached EUR416m. In Spain, the turnover decreased by 14 per cent. Abroad sales fell seven per cent due to lower contributions from Mexico and Ce...

Fitch upgrades Cemex to B+

01 August 2013, Published under Cement News

Fitch upgraded its foreign and local issuer default rating of Cemex to B+ from B, the ratings agency said in a report. The upgrade is based on Cemex's improved capital structure and "the gradual improvement in the US cement market and an improving outlook for the growth in the company's EBITDA and cash flow," Fitch said. Fitch's action also takes into account the "improved confidence of the capital markets," as a result of Cemex's debt refinancing and the IPO of its Latin America subsid...

Cemex expects best volume growth from USA

26 July 2013, Published under Cement News

Cemex reported a slight decline in turnover for the first half of 2013, with EBITDA also down marginally but the trading profit improved by double digits. While volumes were down in the first six months, the group sees full year sales edging ahead with the USA expected to show the best advance. Cemex' first half turnover eased by 0.7 per cent to US$7322.1m and  EBITDA came off by 1.7 per cent to US$1251.2m, but the trading profit improved 13.8 per cent to US$690.2m. Net interest payment...

Cemex to raise Mexican cement prices by 4%

12 July 2013, Published under Cement News

Cemex said Thursday it plans to raise prices of grey cement in Mexico by about four per cent starting next Monday. The increase will compensate for higher raw material costs the company faces for cement production, Cemex said in a statement.

Cemex Mexico launches mobile alternative fuels centre

10 July 2013, Published under Cement News

Cemex Mexico has introduced an innovative solid waste sorting system in the form of a mobile plant that will support its efforts to increase the use of alternative fuels. The system is expected to help avoid the emission of 130,000tpa of CO2, Cemex said in a statement. The mobile plant receives crushes, separates, classifies, and compacts solid waste, producing bales that are used as an alternative fuel in cement plants. The system will be replicated throughout the country, beginning with c...

Holcim Apasco to be renamed

24 May 2013, Published under Cement News

Holcim Apasco is to be renamed Holcim México in order to unify the "brand and strengthen its presence as a global leader in the Mexican market," Holcim Latinoamérica's CEO Andreas Leu was quoted as saying by local publication El Universo. Holcim Apasco is Mexcio's second largest cement company with seven plants and a 12.6Mta capacity including the new 1.6Mta Hermosillo works in Sonora, north of the country. In the first three months of the year, Holcim Apasco in Mexico saw domestic cem...

Cementos Molins first-quarter profit down by 53%

03 May 2013, Published under Cement News

Spanish cement maker Cementos Molins reported a 53 per cent on the year drop in its profit for the first quarter of 2013 to EUR4.7m, mainly due to the losses sustained by the domestic market. Spanish subsidiaries closed the quarter with a EUR10.96m loss, 47 per cent more than the previous year. Consolidated turnover reached EUR195m with income falling by 18 per cent in the Spain and 6.6 per cent in overseas markets.  The company, which operates a cement plant in the Catalan capital o...