Cement News tagged under: Mexico

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Torre Reforma: a concrete giant in Mexico City

09 July 2015, Published under Cement News

Even before its official inauguration in late 2015, Torre Reforma, designed by the Mexican architect Benjamín Romano from LBR&A Arquitectos, is already an architectural icon in Mexico. At 807ft and 57 levels, this emblematic corporate building is the tallest in Mexico City. Characterised by both its slimness and strength, the walls that serve as the backbone of the tower were built with Cemex Fortis. The high-strength properties of this concrete allow it to bear the weight of the slabs, wh...

Mexico: Elementia plans to raise about US$290m in IPO

29 June 2015, Published under Cement News

Mexican building materials company Elementia plans to raise about MXN4.5bn (US$290m) in its initial public offering next month. A preliminary prospectus detailed that Elementia plans to offer 201 million shares at a range of between 20 and 25 pesos per share. The IPO will take place on 9 July and shares can begin trading on 10 July, the company said. It will also include a 15 per cent over-allotment above the base amount, which will bring the total number of shares to about 231 million, re...

Cemex raised to Buy at Longbow

28 May 2015, Published under Cement News

Cemex is upgraded to Buy from Neutral by Longbow, based on continually improving fundamentals in the cement industry with price increases of 8-10 per cent supported by volume growth of 6-8 per cent. In a report published Wednesday, Longbrow Research analyst said utilisation rates are climbing and contacts are concerned about available capacity in late 2015 and early 2016; these factors, including limited driver availability, suggest continued suppliers' pricing power. US driver A re...

Molins sees net 1Q15 profit up 132%

14 May 2015, Published under Cement News

Spanish cement producer Cementos Molins reported a net profit of EUR15.1m in 1Q15, up 132 per cent YoY from EUR6.5m in 1Q14. Although domestic sales improved by 7.1 per cent, the company said the advance was “insufficient”. EBITDA reached EUR2.1m, but net profit remained in the red. Its Mexican subsidiary Corporación Moctezuma posted a 37.3 per cent rise in sales while Argentina’s Cementos Avellaneda saw revenues increase by 51.1 per cent. In Uruguay, Cementos Artigos saw a 34.3 per cent i...

Mexico: Elementia plans 1.5Mta expansion

06 May 2015, Published under Cement News

Mexico’s Elementia conglomerate announced it will invest US$250m to expand capacity at its Atotonilco de Tula plant in Hidalgo, operated by Cementos Fortaleza. Following completion of the project in 2017, the plant will have a capacity of 3.5Mta. In 1Q15, Elementia saw its revenues increase to MXN4070m, up 12 per cent YoY as its cement division registered 26 per cent growth.

Cemex improves first-quarter trading profit

24 April 2015, Published under Cement News

Cemex' first-quarter turnover declined by 5.3 per cent to US$3399.87m, but EBITDA did improve by 6.3 per cent to US$568.54m. Helped by a 12.7 per cent reduction in the depreciation and amortisation charge, the trading profit rose by 25.3 per cent to US$335.32m. The net interest charge declined by 15.3 per cent to US$338.08m, to give an 82 per cent drop in the pre-tax loss from US$167.88m to US$30.86m. The effective net debt was 3.4 per cent lower at US$15,769m, of which 86 per cent was in...

GCC expects declining growth on low oil prices

10 April 2015, Published under Cement News

Grupo Cementos de Chihuahua (GCC) expects sales growth to decline this year after record revenue last year as low oil prices constrict demand in the United States, the company's top market. GCC Treasurer Luis Carlos Arias told Reuters in an interview that after a nearly 20 per cent sales spike in 2014, the company projects only single digit growth in the US, which accounts for about 70 per cent of total sales. Demand in Mexico is expected to fall slightly, he said.

Buzzi Unicem returns to a net profit

30 March 2015, Published under Cement News

On a turnover just 0.1 per cent lower at EUR2506.4m, Buzzi Unicem's underlying EBITDA did increase by 7.1 per cent to EUR404.8m in 2014, while at the headline level there was a 4.8 per cent advance to EUR422.7m. Following a 23 per cent reduction in impairment charges, depreciation and amortisation, the trading profit (EBIT) more than doubled from EUR86.5m to EUR178.7m. After a net interest charge 52.1 per cent lower at EUR53.1m, the pre-tax profit jumped from just EUR16.0m to EUR175.6m. A...

Cemex aims to trim debt by US$1bn in 2015

18 March 2015, Published under Cement News

Cemex is aiming to cut its debt by up to US$1bn this year. The company believes it can refinance US$2.9bn in bonds at a coupon of around nine per cent this year, according to a presentation to investors. Cemex had total debt of US$16.29bn at the end of 2014. Separately, Cemex said it expected compound annual growth of four per cent in sales volumes between 2014-2016.

Holcim expects 3-5% growth in Mexico

12 March 2015, Published under Cement News

The Mexican cement market will expand by 3-5 per cent in 2015, according to a forecast by Holcim México. Although dollar volatility, lower oil receipts and the decreased government spending may impact negatively on cement consumption, the National Infrastructure Plan (NIP), a dynamic housing sector and higher remittances are expected to boost cement demand this year. In the first half of 2015 the recovery that started in 2H14 is expected to take hold. "There are conditions to believe th...