Cement News tagged under: Mexico
Cemex creditors agree to US$421m new notes swap25 July 2012, Published under Cement NewsCemex said on Tuesday that creditors had so far agreed to swap debt holdings for US$421m of new high-yield notes as part of its plan to refinance its debt burden. Reuters reports that the exchange offer, for up to US$500m of new 9.5 per cent notes due in 2018, is part of a plan Cemex aims to conclude in the third quarter of this year to gain breathing room ahead of the maturing of US$7.25bn in debt in 2014. The offer, which was launched early this month, ends on 20 August. The US$421m figu... |
US operations boost Cemex’s second quarter results23 July 2012, Published under Cement NewsCemex has reported its highest quarterly EBITDA since the third quarter of 2009 as a pick-up in US operations helps to offset declines in Europe and Mexico. Net sales reached US$3.9bn during the second quarter of 2012, an increase of 1% on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus 1Q11. Operating EBITDA increased by 11% during the quarter to US$702m versus the same period in 2011. On a like-to-like basis, operating EBITDA increased by ... |
Cemex seen reporting improved 2Q results20 July 2012, Published under Cement NewsCemex is expected show improvement in its second-quarter results as recovering US operations offset weakness in Europe, although a stronger US dollar is likely to limit sales in dollar terms and contribute to a net loss for the period. The company will probably report sales of US$4.03bn for the April-June quarter, according to the median estimate of six equities analysts consulted by Dow Jones, little changed from US$4.09bn in the year-ago period. EBITDA probably increased to US$669m ... |
Cemex to increase Mexican cement prices16 July 2012, Published under Cement NewsCemex announced that it is to increase cement prices in Mexico by an average of six per cent per bag as of today. The company said the hike, which was announced last week, is due to rising input costs. "In order to compensate for the constant increase in rates and prices of major inputs, Cemex announced its dealers an average price increase of MXP120 /t (US$9) of grey cement, equivalent to an increase of six pesos per bag, from next Monday 16 July." Increases in petcoke, fuel oil and ... |
Cemex expects to launch debt exchange offer next week02 July 2012, Published under Cement NewsCemex expects to launch a debt exchange offer next week, a top company official told Reuters on Friday. The offer is part of a new refinancing deal it proposed to creditors in New York on Friday. A second presentation to its lenders in Madrid will take place today. Maher Al-Haffar, Cemex's vice president of corporate communications and investor relations, said the debt refinancing could conclude in the third quarter. |
Cemex Mary Nour fine upheld by antitrust authority15 June 2012, Published under Cement NewsCemex has said Mexico’s antitrust agency upheld a fine of MXP10.2m (US$729,000) against the company for blocking a 2004 cement shipment from Russia, according to Bloomberg reports. Cemex sees the fine as unfounded and will seek an injunction against it, said Jorge Perez, a company spokesman. The Monterrey, Mexico-based company appealed the fine, which the nation’s Federal Competition Commission imposed in February. The blocked delivery occurred when a group of competitors tried to impor... |
Mexican prices see slight increase23 May 2012, Published under Cement NewsDuring May, cement prices in Mexico and the United States showed a slight increase. Grupo Financiero Banamex said that according to its latest survey, the average regional retail price in the country reached up to MXP123/50kg. However, he noted that price adjustments across the country were varied. "The price change was mixed, as for example in Monterrey and Guadalajara prices rose two per cent in Mexico City was an increase of one percentage point, in Aguascalientes, Tijuana and Chihu... |
Cemex03 May 2012, Published under Cement NewsCemex' first quarter turnover increased by 3.5% to US$3,502.6m and the EBITDA improved by 6.5% to US$567.3m. The trading profit continued to recover strongly and rose by 33.9% to US$240.4m. The net interest charge rose by 6.9% to US$338.5m and other financial items produced a substantial positive swing leading to a US$63.4m a pre-tax profit, compared with a loss of US$103.0m a year earlier. The effective net debt was 2% lower at US$17,158m, helped by a 58.2% reduction in perpetual notes out... |
South & Central America drive Cemex higher27 April 2012, Published under Cement NewsCemex’ first quarter turnover was up by 3.5 per cent to US$3502.6m and the EBITDA improved by 6.5 per cent to US$567.3m. The trading profit continued to recover strongly and rose by 33.9 per cent to US$240.4m. Fernando A Gonzalez, Executive Vice President of Finance and Administration, said, "The favorable performance in most of our regions leads us to believe that we are in the initial stages of a turnaround. "This is the sixth consecutive quarter of top-line growth in o... |
Mexico's Cemex seen posting narrower quarterly loss25 April 2012, Published under Cement NewsCemex is expected to cut its first-quarter losses by more than half from a year ago, helped by higher sales and a strong share price gain during the period. A Reuters poll among seven analysts showed Cemex would likely post a net loss of US$112m in the January-to-March period, compared with a loss of US$276m in the 1Q11. Quarterly sales are expected to have grown 3.7% due to stronger demand from the United States, Cemex's top market outside Mexico, and higher prices in that market. Euro... |