Cement News tagged under: Mexico

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Canacem: high demand pushes up Mexican cement prices

30 June 2017, Published under Cement News

Mexico’s National Chamber of Cement (Canacem) has attributed the increases in domestic cement prices to the high demand in the domestic market despite that construction players maintain that there are no conditions to justify the increases. "Cement prices in Mexico are established by the dynamics of supply and demand. The price varies depending on the region and the brand, because of the distances to be travelled, as transport in the country is expensive. We had time that we did not gener...

Tula project major milestones

28 June 2017, Published under Cement News

In May 2015 Cementos Fortaleza SA de CV awarded Fives with an EPC contract for the design, supply, erection and commissioning of a new complete 3300tpd production line to be installed in its existing Tula cement plant, in Mexico. The project features Fives’ latest technologies in terms of energy savings and environmental footprint: -    FCB kiln, FCB Zero-NOx precalciner, FCB preheater and Pillard NovaFlam® burner for the burning line -    FCB Horomill® and associated FCB TSV™ classifiers f...

S&P puts Cemex ratings on Watch Positive

20 June 2017, Published under Cement News

S&P Global Ratings has placed its 'BB-' global scale and 'mxA-/mxA-2' national scale ratings on Cemex on CreditWatch with positive implications. The recovery rating on all Cemex's rated senior debt remains at '3', which indicates that bondholders can expect a meaningful (50-70 per cent, in the higher band of the range) recovery in the event of a payment default.   S&P writes: "Following our 30 January 2017 upgrade of Cemex, our base-case scenario assumed that the company would remain commit...

Mexico recognises nine Cemex plants for environmental achievements

15 June 2017, Published under Cement News

Nine Cemex cement plants in Mexico have received Recognition of Environmental Excellence by the Federal Attorney for Environmental Protection. The works of Atotonilco, Barrientos, Ciudad Valles, Ensenada, Mérida, Monetrrey, Tamuín, Torreón and Zapotiltic all received the award. Recognition of Environmental Excellence is awarded to companies whose operations demonstrate continuous improvement in environmental performance, as well as a commitment to preserving the environment and a high...

S&P upgrades GCC rating

06 June 2017, Published under Cement News

S&P Global Ratings has raised its long-term corporate rating on Grupo Cementos de Chihuahua to 'BB' from 'BB-'. The outlook is stable.   At the same time, S&P raised the issue-level rating on the $260m senior secured notes due 2020 to 'BB' from 'BB-'.   Following GCC's acquisition of various assets from Cemex in 4Q16 for approximately US$306m (consisting of one cement plant in Texas, two cement terminals located in Amarillo and El Paso, Texas and the concrete, aggregates, asphalt and bu...

Cemex participates in first underwater tunnel in Latin America

01 June 2017, Published under Cement News

Cemex participated in the construction of the Coatzacoalcos Underwater Tunnel in Veracruz, Mexico, an innovative infrastructure project in Latin America. The dimensions of this complex construction required the company to design and deliver special concretes to build the different structures that shaped the tunnel and its points of access. Because the construction was underwater, Constructora Túnel de Coatzacoalcos, the company managing the project, required Cemex to design specific concr...

Fitch affirms Elementia's IDR, Outlook Stable

19 May 2017, Published under Cement News

Fitch Ratings has affirmed Mexico-based Elementia, Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB+', as well as its long-term national scale rating at 'A+(mex)'. The Rating Outlook is Stable. "Elementia's ratings reflect its strong business profile characterised by geographic and product line diversification, leading market shares in copper and in several of its building systems products, which have high brand recognition. Other factors include a well-developed ...

Canacem: Mexico’s cement sector to grow 3% in 2017

12 May 2017, Published under Cement News

The Mexican cement sector is expected to grow by three per cent in 2017, as housing construction contracts, according to Osmín Rendón, president of the national construction chamber, Canacem. He said the cement price will continue to rise as in the last 5-7 years, but that the decision depends on individual companies and the pricing strategies they pursue. "Cement prices are diverse, there is no single price and this depends on the area and the brand. Each company will determine whether t...

Cemex hikes cement price 20% in Mexico

02 May 2017, Published under Cement News

Cemex increased its price for grey cement in Mexico by 20 per cent YoY in 1Q17. It represents the largest first-quarter increase in at least a decade and twice the seven per cent rate of inflation. No reasons were disclosed for the rise in prices. In addition, the company also announced a 4.3 per cent increase in investments to US$730m this year.  "One of our highest priorities is to recover our investment grade, so we continue to make significant progress in this quarter, from our 20...

Cemex reports jump in net profit

28 April 2017, Published under Cement News

Cemex reported a jump in net profit to US$336m in the 1Q17 from an income of US$35m in the same period of last year, as the Mexican major as the cement maker continued to sell assets and reduce debt. On a like-for-like (LFL) basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by six per cent during the 1Q17 to US$3.1bn versus the comparable period in 2016. Operating EBITDA on a LFL basis increased by two per cent during the quarter to ...