Cement News tagged under: Cemex
Cemex to help take FastCarb to the industrial level17 July 2020, Published under Cement NewsCemex is participating in the IREX-administered FastCarb project that will capture CO 2 in concrete, which is then used in aggregate. The scheme will improve the quality of this type of recycled aggregate by plugging the porosity and leading to a greater understanding of the accelerated carbonisation mechanism for recycled concrete aggregates. Started in 2016, FastCarb works to design and implement an accelerated carbonisation process at pre-industrial scale to store CO 2 in recycled conc... |
Cemex confirms decision to close Ferriby plant15 July 2020, Published under Cement NewsFollowing consultations with employee representatives and Unite the Union, Cemex has confirmed that it will be mothballing its South Ferriby plant in north Lincolnshire, UK. Approximately 110 employees who are currently based at the plant will be affected, with the majority of redundancies said to be taking place in July, according to a statement. However, customers will continue to be supplied from the company’s existing cement network. "Cemex remains committed to the UK and its Europe... |
Preparing for a financial crisis30 June 2020, Published under Cement NewsDr Michael Clark looks at how the global health emergency of the COVID-19 pandemic is expected develop into a financial crisis, and the potential impacts of this for the cement industry. By looking back over the past 30 years, we can see the effects the Asian financial crisis and the global financial crisis had on the sector. With this in mind, what can we expect in the near future? The Asian financial crisis originated in Thailand and was fuelled by credit extensions made to suppo... |
Cemex cancels El Musel project due to COVID-1930 June 2020, Published under Cement NewsCemex is cancelling its terminal project that would see the company import 150,000tpa of cement via the Ingeniero Olano dock in El Musel, Gijón, Spain. In February 2019 Cemex applied for a concession at the Olano quay to unload cement to build two storage silos and a bagging plant, representing an investment of approximately EUR5m. Forecasts at the time expected 50,000t of cement to be imported in the first year to 150,000t from the sixth year. The concession was granted after 10 months. ... |
Cemex's climate strategy still on track26 June 2020, Published under Cement NewsCemex has announced that it will be continuing to move ahead with its climate action strategy, as part of its response to the COVID-19 pandemic. In February the company announced it had set a target for a 35 per cent reduction of its net specific CO 2 emissions per tonne of cement compared with its 1990 baseline. "Climate change is one of the biggest challenges of our time, and we believe that we can continue to address it as a fundamental component of our efforts to recover from the COVI... |
Cemex announces plans for US$1bn bond issue03 June 2020, Published under Cement NewsCemex has announced plans to issue US$1bn worth of bonds, with a 7.375 per cent coupon and a maturity date of June 2027. The issue is expected to be used to support ongoing business activities, including debt repayment. The bonds will be issued with an option to repurchase them four years prior to maturing and the offering period will close on 5 June. Elsewhere, Mexico's energy regulator approved new rates that electricity providers must pay the national power utility for transmission... |
Cemex amends consolidated financial leverage limits26 May 2020, Published under Cement NewsAs part of a strategy to respond to the effects of the coronavirus pandemic, Cemex has amended its main banking contract to modify the limits of its consolidated financial leverage. Its leverage limit will increase to 6.75x by June 2020 and to 7.00x from September 2020 to March 2021, before decreasing again at a later date. "At the end of the first quarter of 2020, Cemex reported a consolidated financial leverage ratio of 4.40x," said the company. |
Cemex announces organisational changes22 May 2020, Published under Cement NewsCemex has made several immediate appointment changes and changes at senior positions in the company. Jose Antonio Gonzalez, Cemex's current executive vice president of finance and administration, has been appointed executive vice president of strategic planning and business development. Maher Al-Haffar, current vice president of investor relations, corporate communications and public affairs, has been appointed executive vice president of finance and administration. Maurice Boehner, cur... |
Automation at Caracolito12 May 2020, Published under Cement NewsIntegrating collective knowledge and suggestions for improvements by end users form the basis of CEMEX’s drive to advance operational excellence at its plant in Caracolito, Colombia. The plant’s Line 2 was the focus for the design and implementation of a new control platform that could be fully adapted to user needs as well as allow for greater efficiency and productivity. By CEMEX, Colombia. Cemex Colombia has improved its efficiency and productivity at Line 2 of its Caracolito plant... |
Cemex Philippines sees net sales fall 10%05 May 2020, Published under Cement NewsCemex Holdings Philippines Inc announced that net sales decreased by 10 per cent during the 1Q20, versus the 1Q19, amounting to PHP5.6bn (US$110.7m). Domestic cement volumes decreased by four per cent versus 1Q19. An eight per cent increase in volumes during the first two months of the year was offset by the effects of the Enhanced Community Quarantine in Luzon and other quarantine measures around the country during the second half of March 2020. CHP’s domestic cement prices fell by six pe... |