Cement News tagged under: USA
Cemex leads the charge on US pricing03 December 2012, Published under Cement NewsCemex is planning two incremental cement price increases in January and April 2013 in a bid to reverse the "chronic under-pricing of cement in the US", says Karl Watson, president Cemex USA. Speaking at a presentation in Mexico on Tuesday this week, Watson said that the price increases of US$8/t each are integral to the company's goal of achieving an EBITDA of over US$1bn by 2016. "Prices, in real terms, averaged US$154/t in the 1970s. The current industry price of, on average, US$90/t is... |
Holcim (US) Celebrates Centennial29 November 2012, Published under Cement NewsThe Holcim (US) Portland facility is participating in a year-long community service initiative to mark the centennial anniversary of its parent company, Holcim Ltd. Holcim (US), one of the nation's leading manufacturers and suppliers of cement and mineral components, is celebrating its 100-year anniversary by participating in Together for Communities, an initiative in which employees lead local volunteer projects. "Our employees at the Portland facility have shown great dedication in their ... |
Cemex sees improved US results going forward28 November 2012, Published under Cement NewsCemex expects improved results at its US operations between 2013 and 2016 as the local market has shown stronger than expected trends, allowing for improved profitability. Karl Watson, president of Cemex USA, told analysts during a presentation on Tuesday the company expects US housing starts to increase 16 per cent next year, reaching 873,000. The company forecast US residential sector cement demand will increase by 14 per cent in 2013. Watson said US annual cement sales are now about... |
Lehigh to invest in mercury reduction system at Tehachapi plant, USA28 November 2012, Published under Cement NewsLehigh Southwest Cement Company has announced plans to install a mercury reduction system at its plant in Tehachapi, California, USA. The plant will begin the installation of a state-of-the-art activated carbon injection system in early 2013 with completion scheduled for later in the year. The system has been installed at two other Lehigh plants in the United States including plant in Cupertino which was the first cement works in California to apply the technology. The plant has experi... |
Fitch Ratings: mixed picture for EMEA companies27 November 2012, Published under Cement NewsFitch Ratings says 3Q12 results reported by Fitch-rated Europe Middle East and Africa (EMEA) cement companies, Holcim Ltd ('BBB'/Stable), HeidelbergCement AG ('BB+'/Stable) and Lafarge SA ('BB+'/Stable) showed a number of positives, but confirmed that general market conditions are still challenging and the outlook remains uncertain. Europe disappoints The European markets represented a negative surprise, mainly due to a weakening in volume sales. This not only reflects some peripheral ... |
Cemex to return to profitability in 2013?21 November 2012, Published under Cement NewsMexican cement producer Cemex is seen on track to return to profitability as soon as 2013, according to analysts quoted by Reuters. The company recently refinanced US$6.7bn in debt, negotiating much-need room to push back looming payments for up to four years. Measures included a commitment to pay down US$1bn in March of next year, revised financial covenants and a debt swap, all of which have put relations with investors on a more comfortable footing. In addition, Cemex floated its C... |
US cement demand to rise or fall depends on resolution timing20 November 2012, Published under Cement NewsAlthough cement consumption and overall US construction activity increased significantly more than expected in 2012, these gains would be immediately erased in 2013 if the fiscal cliff is not resolved in a timely manner, according to the Portland Cement Association (PCA). The PCA expects cement demand to rise 7.5% in 2012, up 50 basis points from its summer forecast. However, the instability of the political landscape makes predicting 2013 consumption more challenging, said the US cement ... |
US cement consumption falters19 November 2012, Published under Cement NewsUnited States cement consumption in September fell 2.3 per cent versus the same month last year, representing a reversal of the growth trend for the first time in 2012. According to preliminary figures released by the USGS, monthly cement consumption reached 6.95Mt in September, versus 7.12Mt in 2011. Nevertheless, year-to-date consumption in 2012 has still outperformed 2011, and reached 59.56Mt in the first nine months, up 10.1 per cent compared to the same period in 2011. |
CRH hopes US storm repair work will help its sales15 November 2012, Published under Cement NewsCRH expects to benefit next year from the devastation wreaked by Hurricane Sandy on the east coast of the US as reconstruction work gets underway. But the storm has also severely hampered its materials operations in the region. CRH said that disruption, coupled with ongoing weakness in some European markets, will result in earnings before interest, tax, depreciation and amortisation (EBITDA) in the last three months of 2012 below that achieved in the final quarter of 2011. Releasing an... |
Titan suffers from Mediterranean markets14 November 2012, Published under Cement NewsTitan's turnover for the first nine months of 2012 edged ahead by 1% to €847m, but the EBITDA fell by 26.6% to €162.5m. The EBITDA fell by €36.6m in the Eastern Mediterranean, by €19.1m in South Eastern Europe and by €9.5m in Greece, but recovered by €6.6m in the USA. As a result, the group pre-tax profit fell by 65.7% to €26.1m. The net attributable profit dropped by 96.3% from €52.9m to just €2, after a €6.4m loss in the third quarter. Net debt at the end of September was 13.2% lower than ... |