Cement News tagged under: Mexico

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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...

Cemex first quarter sales fall 8% in 1Q13

29 April 2013, Published under Cement News

Cemex' first quarter turnover declined by 5.3 per cent to US$3318.6m, while the EBITDA came off by 8.1 per cent to US$521.1m. Volumes were ahead in the USA and in the Philippines, but declined in most other markets. The trading profit was off by just 0.5 per cent to US$239.1m. The net interest charge increased by 9.7 per cent to US$360.7m, giving an underlying pre-tax loss 33.3 per cent higher at US$141.1m. Once the results from financial instruments and foreign exchange movements are tak...

GCC posts quarterly first quarter net loss, Mexico

29 April 2013, Published under Cement News

Mexican cement producer Grupo Cementos de Chihuahua (GCC) posted a net loss of MXN98.6m (US$8.1m) in 1Q13 down from MXN109m in the same period of last year. Unfavourable winter weather conditions in the US, the firm's largest market, and the peso appreciation against the US dollar negatively impacted the 1Q13 top line, with sales decreasing to MXN1.44bn from MXN1.5bn a year earlier. Operating costs also rose 2.8 per cent YoY as the operative result went into the red, dropping to MXN8m. ...

Cemex prices US$600m in notes, Mexico

15 March 2013, Published under Cement News

Cemex on Thursday priced six-year secured notes for US$600m to pay down debt. The notes, due 2019, to be issued at par, will pay annual interest of 5.875 per cent and will be callable after three years. It expects the sale to close on 25 March, the Mexican cement major said in a statement. The company plans to use about US$55m to pay off a 2009 financing agreement and the rest for other purposes including reducing additional debt. Meanwhile, Cemex invited holders of around EUR430m in...

Cemex full-year turnover eases, EBITDA improves

08 February 2013, Published under Cement News

Cemex has reported its full-year 2012 results which show decline in turnover but advance in EBITDA. Net debt is reduced but interest charge and gearing rise. Cemex' turnover eased by 1.5 per cent in 2012 to US$14,983.8m, but EBITDA did improve by 10.2 per cent to US$2614.7m and the trading profit advanced by 35.3 per cent to US$1308m, having recovered by 12.2 per cent in the previous year from its low point. The net interest charge continued to rise and was ahead by five per cent to US$14...