Cement News tagged under: Central America
CEMEX refinances US$3bn syndicated credit agreement01 November 2023, Published under Cement NewsCEMEX has successfully refinanced its US$3bn syndicated credit agreement, extending the maturity to 2028. The refinanced credit agreement consists of a US$1bn five-year amortising term loan, and a US$2bn five-year committed revolving credit gacility. This represents a reduction of US$500m in the term loan and an increase of US$250m in the revolver from the prior facility. The signing of the credit agreement is an integral part of a comprehensive financing plan designed to increase liquidit... |
Caribbean Cement sees 58% rise in 3Q net income01 November 2023, Published under Cement NewsJamaica’s Caribbean Cement Co , part of the TCL Group , reported revenues of JMD7bn (US$45.4m) in the third quarter of 2023, up 13.4 per cent YoY from JMD6.2bn. Operating earnings rose by 36.8 per cent to JMD2.6bn in the 3Q23 from JMD1.9bn as revenue increased and costs were contained due to a drive in operational efficiency. The company’s consolidated net income increased by 58.3 per cent from JMD1.2bn in the 3Q22 to JMD1.9bn in the 3Q23. |
CEMEX reports 32% jump in EBITDA in 3Q2327 October 2023, Published under Cement NewsCEMEX has reported nine per cent YoY growth in sales for the third quarter of 2023. EBITDA over the same period advanced by 32 per cent, while the EBITDA margin expanded by 3.5 percentage points to 19.9 per cent. For the first time since the launch of CEMEX’s pricing strategy in 2021, designed to regain profitability after a surge in input cost inflation, quarterly EBITDA margin exceeded its goal of recovering 2021 margins, according to the company. Free cash flow after maintenance cap... |
GCC reports 18% rise in sales in 3Q2326 October 2023, Published under Cement NewsMexico-based cement producer GCC has reported consolidated net sales of US$416.1m in the 3Q23, up 17.9 per cent YoY. This was primarily due to increased cement and concrete volumes in Mexico, increased concrete volumes in the US and a favourable price environment in both markets. However, these were partially offset by decreased cement volumes in the US. EBITDA in the 3Q23 improved by 35 per cent YoY to US$158.5m with an EBITDA margin of 38.1 per cent. Earnings per share over the three-... |
CEMEX supplies Vertua to world's 10th-largest football stadium23 October 2023, Published under Cement NewsCEMEX has supplied its Vertua water-permeable concrete for the renovation of the University of Alabama’s Bryant-Denny Football Stadium, the 10th-largest stadium in the world and home to the 18-times national champion Crimson Tide football team. The use of permeable concrete benefits the stadium’s natural grass field in two key ways: it keeps the playing field from flooding, and it allows for rainwater to be collected and used for its irrigation system, making its maintenance more sust... |
GCCA appoints Fernando González as new president17 October 2023, Published under Cement NewsFernando González, CEO of CEMEX, has been elected as the new president of the Global Cement and Concrete Association (GCCA), succeeding Jan Jenisch. Mr González has been the association’s vice president since 2018 and is seeking to galvanise collective efforts to cut greenhouse emissions, setting out the following priorities for industry and governments: • take decisive action to phase out fossil fuels and promote the use of alternative fuels by encouraging regulation to divert societal... |
CEMEX supplies Vertua to the world's largest medical complex12 October 2023, Published under Cement NewsCEMEX is providing more than 20,000 cubic yards of Vertua lower-carbon concrete for Houston Methodist’s Centennial Tower, the newest addition to the largest medical complex in the world. The 26-story tower, expected to begin a phased opening in 2027, will house a new and expanded emergency department, enhanced imaging services, and space for additional hospital beds. CEMEX has already supplied 11,000 cubic yards for the tower’s foundation. “CEMEX’s purpose of building a better future come... |
CEMEX returns to Mexican debt capital markets05 October 2023, Published under Cement NewsCEMEX has announced the successful pricing on 3 October 2023 of its sustainability-linked long-term notes for an aggregate principal amount of MXN6bn (US$332.6m), a transaction that represents its return to the Mexican debt market after a 15-year absence. The closing of the offering is expected to take place today, 5 October 2023, subject to satisfaction of customary closing conditions. The notes consist of two tranches: the first, for an amount of MXN1bn with a three-year tenor at a ... |
CEMEX acquires Kiesel29 September 2023, Published under Cement NewsCEMEX has agreed to acquire Kiesel, a mortars and adhesives technological leader in the construction industry based in Germany, as part of its ongoing strategy to strengthen CEMEX’s Urbanization Solution business through bolt-on acquisitions. “We remain committed to increasing our capacity to serve growing urban markets with more sustainable and innovative solutions,” said Sergio Menéndez, president of CEMEX Europe, Middle East, Africa and Asia. “This acquisition will enhance our Urban... |
CEMEX in refinancing talks with banks22 September 2023, Published under Cement NewsCEMEX is in talks with its banks over the refinancing of a US$3bn credit facility, according to Reuters. Fernando Gonzalez, the company’s CEO, hinted that refinancing might be an option back in July this year following CEMEX’s upgraded outlook to 'positive' by ratings agency Fitch. “We're in current discussions with our banks, because the biggest amount of debt that is maturing is bank debt,” explained CEMEX's Chief Financial Officer, Maher Al-Haffar. He is reported as saying that a 10... |