Cement News tagged under: Mexico

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Cemex expected to increase cement price 12-13% in new year

18 December 2018, Published under Cement News

Cemex will increase the price of cement between 12-13 per cent at the beginning of next year, according to the Mexican Association of Independent Concrete Companies (AMCI). "The Mexican Association of Independent Concrete Companies announced an increase in the price of concrete of 20 per cent as of January 2019; independent concrete producers have reported that Cemex will increase cement prices by approximately 12 per cent, "Citibanamex analysts said. However, they highlighted that althoug...

Mexican ready-mix prices to rise 20%

13 December 2018, Published under Cement News

Mexico's ready-mix concrete producers are set to raise prices by 20 per cent. The Mexican Association of Independent Concrete Producers (AMCI), representing 70 per cent of the production companies in Mexico, cited the rising cost of cement and aggregates, including sand and limestone as well as higher prices for diesel and electricity. The price rise will come into effect on 1 January 2019.  "This increase... is due to the rise in 2018 of all our inputs," said Jorge Pérez, Cemex's Media Rel...

Mexican cement industry optimistic about announced housing programmes

30 November 2018, Published under Cement News

The Mexican cement industry has welcomed announcement of social housing programmes by the new government voted into office last July. "In Mexico there are 7 million families with the potential to enter into schemes of construction or improvement of housing. Meeting their needs can be a growth driver; This type of initiative has been very successful in Colombia and Peru,” said Mauricio Doehner, president of CANACEM, the national cement chamber. However, Mr Doehner’s optimism included a ca...

Cemex begins share repurchase programme

29 November 2018, Published under Cement News

Cemex has begun its share repurchase programme, approved at its ordinary shareholders’ meeting for up to US$500m. "We are pleased to initiate our share buyback programme, which is one of the capital allocation options we have to create value for our shareholders," said Fernando A González, CEO. The company repurchased 7m CPOs on 27 November. The total amount of the repurchase, including commissions and VAT, was MXN65.9m (US$3.2m).

Higher fuel and power costs affect Mexican cement producers

22 November 2018, Published under Cement News

EBITDA margins of Cemex, Moctezuma, Cementos Chihuahua and Elementia have contracted by 0.5-2 percentage points in the 3Q18  as fuel and power costs in Mexico have risen. "At least half of the increase in costs was due to increases in energy, both electricity and energy, whose prices are dollarised," said Carlos García, infrastructure analyst at Signum Research. In the case of Cemex, the company’s overall EBITDA margin fell by 1.1 percentage points to 18.8 per cent while in Mexico, its ope...

Cemex invests US$320m in solar energy

19 November 2018, Published under Cement News

Cemex will invest US$320m in a solar farm in Zacatecas, Mexico. The solar power plant will have a capacity of 378MW. “At cement we bring different projects and we do not rule out starting other solar farms,” said Beatriz Padilla García, business development consultant of Cemex’s energy arm.  The facility is expected to start operations next year. Electricity generated by the plant will be sold to the private sector.

Cemex's gearing continues to decline to 89%

26 October 2018, Published under Cement News

During the first nine months of the year, Cemex cement shipments improved by 3.2 per cent to 52.69Mt, while ready-mixed concrete deliveries advanced by 3.7 per cent to 40.07Mm² and aggregates shipments by two per cent to 112.59Mt. The company’s turnover was seven per cent higher at US$10,933.1m, while EBITDA was a marginal 0.4 per cent ahead at US$1956m. The trading profit improved by one per cent to US$1330m, while the net interest charge dropped by 35.5 per cent to US$591m. The pretax prof...

Cemex Latin American Holdings sees weak volumes

26 October 2018, Published under Cement News

Cemex Latin American Holdings saw turnover for the first nine months decline by 8.6 per cent to US$848.5m and EBITDA fell by 22.3 per cent to US$187.7m, with the margin coming down from 26.1 to 22.1 per cent. The trading profit declined by 29.7 per cent to US$129.2m. After a 7.7 per cent reduction in financial expenses to US$42.9m and other items, the pretax profit came off by 26.1 per cent to US$96.2m. After tax and minorities, the net attributable profit was 33 per cent lower at US$53.3m. ...

GCC announces 11% sales increase for 9M18

24 October 2018, Published under Cement News

Mexico's Grupo Cementos de Chihuahua (GCC) has recorded an 11.1 per cent YoY increase in sales to US$677.4m for the first nine months of 2018. EBITDA surged 16.3 per cent to US$198.6m in the same period, while its EBIDTA margin reached 29.3 per cent. In the 3Q18 net sales advanced 10.6 per cent YoY to US$278.6m from US$251.9m. EBITDA was also up 9.2 per cent to US$83.6m, compared with US$76.6m of the year-ago period. "GCC's third quarter and nine-month results show continued success in i...

Carbon capture bioreactor starts at Fortaleza's Tula plant

24 October 2018, Published under Cement News

Mexico’s Universidad Autónoma Metropolitana (UAM) has developed a bioreactor which uses microalgae to capture flue gases from cement companies. The reactor was launched at Cementos Fortaleza’s cement plant in Tula in the country’s state of Hidalgo, where it will pilot the technology at plant level. In the process the exhaust gas from the kiln is passed through a reactor that contains water, nutrients and microalgae that retain carbon dioxide through photosynthesis and convert it to biomass...