Cement News tagged under: Mexico

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Cemex Ventures helps Carbon Clean raise US$8m for carbon capture projects

04 August 2021, Published under Cement News

Carbon Clean has raised US$8m from new investor Cemex Ventures  and existing investors Equinor Ventures, ICOS Capital and WAVE Equity Partners. The capital raise extends Carbon Clean's successful US$2m Series B investment round , brings the total value of the round to US$30m. "We're delighted to have Cemex as an investor and its backing further confirms the growing value of our technology proposition, as well as expanding confidence of strategic investors," said Aniruddha Sharma, Carb...

GCC reports 44% increase in 2Q net income

28 July 2021, Published under Cement News

GCC saw its consolidated net sales increased 18.1 per cent YoY to US$286.7m in the 2Q21 from US$242.8m in the 2Q20. EBITDA advanced 18.6 per cent YoY to US$97m in the 2Q21 from US$81.8m in the 2Q20. As a result, the EBITDA margin edged up from 33.7 per cent to 33.8 per cent over the same period. Net income increased 43.8 per cent to US$47.7m in the 2Q21 from US$33.2m in the year-ago period. In Mexico cement and ready-mix volumes increased 17.1 and 41.4 per cent, respectively. In the USA c...

GCC reports strong 2Q21 results and prepares for expansion

28 July 2021, Published under Cement News

GCC reported a net sales increase of 18 per cent in the 2Q21 and a rise in EBITDA of 19 per cent. The company’s net financial expenses totalled US$10m during this accounting period. GCC reported cement volumes rising by 11 per cent in the 2Q21 compared to eight per cent in 2020. Concrete sales fell by 17 per cent compared to a six per cent rise in the 2Q20. Commenting on guidance for the remainder of 2021, Enrique Escalante, GCC’s CEO said: “ Starting in Mexico, we now expect GCC’s cem...

Modern milling in Mexico

06 July 2021, Published under Cement News

Encouraged by healthy construction demand and promising growth potential, two regional cement manufacturers have decided to invest in cement grinding facilities in Yucatán, Mexico. Both Cementos Fortaleza and Holcim México have entrusted Gebr Pfeiffer to deliver these facilities and the required capacity to satisfy immediate demand. By Rodney Pradet, Gebr Pfeiffer Americas, USA. Figure 1: illustration of a typical Gebr Pfeiffer ready2grind plant For some, thinking of the Yucatán...

Can Mexico’s fiesta continue?

05 July 2021, Published under Cement News

Despite initial concerns that Mexican cement demand would see a sharp contraction in 2020 due to the COVID-19 pandemic, domestic consumption held up better than expected through the year. The early signs for 2021 are encouraging but, with a rollercoaster of expectations ahead, Credit Suisse asks how long can Mexico’s fiesta last? By Vanessa Quiroga, Credit Suisse, Mexico. Going forward, the picture for Mexican cement demand, exports and utilisation levels is promising. The outlook ...

Cemex's new growth phase

02 July 2021, Published under Cement News

Cemex Day was held last week and looked at the company's investment and sustainability strategy going forwards. One of the most significant developments for the company is it reaching an investment-grade (IG) capital structure by the end of June. "We believe that we currently have the best market outlook in years, and that we are entering a period of sustainable growth. We can turn the page on what has been a lengthy chapter for Cemex and open a new book where we consolidate our recent a...

Cemex achieves investment-grade capital structure

28 June 2021, Published under Cement News

Cemex has announced that it is executing its strategic objectives under its Operation Resilience programme faster than previously anticipated, as a result of decisive management decisions combined with solid market performance. The company is confident that it will achieve an investment-grade capital structure of 3x leverage by the end of this month. As a result, it has established a new leverage target within its Operation Resilience goals that consists of regaining an investment-grade cre...

Cemex sets aggressive new 2030 carbon emission targets

25 June 2021, Published under Cement News

Cemex has set a more aggressive carbon reduction target of below 475kg of CO 2 per tonne of clinker produced, approximately a 40 per cent reduction in CO 2 emissions by 2030. The new target is below the two degree global warming scenario of the Science Based Targets Initiative (SBTi). Cemex is also planning to set a new target of 520kg of CO 2 /t of clinker produced by 2025, equivalent of a 35 per cent emission reduction. The company is also reducing CO 2 emissions from its concrete bu...

Holcim México inaugurates new Umán grinding unit

24 June 2021, Published under Cement News

LafargeHolcim subsidiary Holcim México saw the commissioning of its new 0.65Mta grinding plant in Umán, Yucatán. The Umán plant will be supplied with clinker from production facilities in Macuspana, Tabasco, and Orizaba, Veracruz. The plant represents an investment of more than US$40m and will be able to supply key infrastructure projects such as the Mayan Train and the Dos Bocas Refinery as well as supply cement in the construction of bridges, roads and housing. “It is one of the most m...

Canacem pronounces 2020 the best year for Mexican cement in the last 5 years

18 May 2021, Published under Cement News

Yanina Navarro, director of Mexico's Cement Association (CanaCem), has said that overall 2020 has been the best cement production year for the Mexican cement industry in the last five years.  Navarro told bnAmericas that in January the industry reported a production volume of 4.2Mt, which is 533,000t and 669,000t more than the same month of 2020 and 2019, respectively, according to data from statistics institute Inegi.  However, the total production volume and value for last year ...