Cement News tagged under: Mexico

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Cemex recognised for CO2 emissions performance and reporting, Latin America

02 November 2012, Published under Cement News

Cemex named one of Latin America’s best companies in CO2 emissions performance and disclosure Cemex has been named by the Carbon Disclosure Project (CDP) as the best Latin American company in terms of climate change data disclosure and one of the top ten in overall carbon emissions performance. The rankings were announced during the launching of the CDP’s latest report “CDP Investor Latin America 2012”, which comprises data on the emissions of greenhouse gases from 32 major companies in Arg...

GCC sales rise 13.3 per cent, Mexico

31 October 2012, Published under Cement News

Mexico-based cement producer Grupo Cementos de Chihuahua (GCC) has posted MXP2.58bn (US$197m) in sales for 3Q2012, up 13.3 per cent YoY. The company posted  EBITDA of MXP501m, up 0.5 per cent compared with the prior-year-period. Net consolidated income for the third quarter was MXP152m, up 266 per cent over the MXP43.8m loss registered in the same period of 2011. Increased sales were driven by a growth in sales volumes in the US, "higher aggregates and concrete block sales in Me...

Cementos Molins posts EUR31m profit, up 85%

31 October 2012, Published under Cement News

Spain’s Cementos Molins has posted a profit of EUR31.16m in the first nine months of the year. The 85 per cent rise has been attributed to successful foreign business, which continues to offset the decline in Spanish sales. The company’s operations in Spain have seen profits decline on the back of a 16 per cent drop in domestic sales as Spanish cement demand continues to post further lows. The drastic falls in consumption have seen cement demand plunge to a level not seen since the 1960s....

Cementos Moctezuma posts positive 3Q12 results

25 October 2012, Published under Cement News

Mexico’s Cementos Moctezuma 3Q12 net sales reached MXN2.297bn (US$177.7m), representing a rise of 12.7 per cent when compared to last year’s equivalent period. Operating profit climbed MXN757m, up from 3Q11’s figure of MXN573m. Pretax profits improved from MXN591m to MXN758m over the three-month period, according to information sent to the Mexican stock exchange. For the first nine months of the year, Cementos Moctezuma registered net sales of MXN6.820, increasing from MXN5.988bn, noted...

New Mexican cement player to enter the market

17 October 2012, Published under Cement News

Privately-held Mexican conglomerate Elementia, part-owned by billionaire Carlos Slim plans to list shares on the local exchange and is launching a cement company on the Mexican market, Reuters reports. Elementia plans an initial public offering in the medium term, and it is opening a cement company that aims to supply three per cent of the local market by next year, CEO Eduardo Musalem said on Tuesday. Elementia is backing the new cement maker that aims to begin operating a plant in Decemb...

Cemex's nine-month EBITDA rises 9%

16 October 2012, Published under Cement News

In the first nine months of the year, Cemex’ turnover decreased  2.1 per cent to US$11,273.8m but the EBITDA did improve nine per cent to US$2003.2m. The company's gearing is coming down but is still at very high levels. For the nine months to September 2012, the trading profit rose by 37.8 per cent to US$1921.8m and the net interest charge increased by 3.7 per cent to US$1044.8m. After taking losses on financial instruments and other non-trading items into account, the pre-tax loss, whic...

Cemex interested in investing in INC

15 October 2012, Published under Cement News

Industria Nacional de Cemento, has reported that Mexican cement giant Cemex has expressed an interest in investing in the Paraguayan state-owned producer. According to INC’s head, Carlos Krüssel, Cemex would transfer its technology to and possibly invest in INC. Mr Krüssel just completed a visit to a Cemex plant in Mexico to learn about Cemex’s plants and their experience in the provision of services and other products such as precast concrete. INC plans to expand its range of services a...

Cemex sees 9% increase in 3Q12 operating EBITDA

05 October 2012, Published under Cement News

Cemex said on Thursday it expects to report a nine per cent rise in operating cash flow in the third quarter of 2012, compared with the year-earlier period, although sales in dollar terms are expected to be down about two per cent. This is Cemex’s first results guidance in more than three years. The Mexican cement major said that adjusted for currency swings, sales in the third quarter were probably up three per cent from a year earlier, and EBITDA was likely 13 per cent higher. The res...

Cemex completes refinancing deal, Mexico

18 September 2012, Published under Cement News

Cemex said on Monday it has completed its plan to refinance US$7.2bn of debt and push back maturities by up to four years. Last week, the company and nearly all of its creditors finally settled on a new agreement that includes a debt swap, a US$1bn prepayment in March 2013, some asset sales, and revised financial covenants. Participating creditors will now receive about US$6.16bn in a combination of new loans and new dollar private placement notes, plus US$500m of new, high-yield notes ...

Cemex clears refinancing deal, considers asset sales

11 September 2012, Published under Cement News

Cemex will extend maturities of bank loans by three years after its restructuring offer won acceptance from creditors holding 92.6 per cent of the debt. The offer had to be accepted by 91 per cent of creditors to go through after the threshold was lowered from an initial 95 per cent, and the transaction is expected to become effective in the following weeks, the company said in a statement. Cemex plans to sell US$500 of new 9.5 per cent senior notes due in 2018 as part of the exchange. ...