Cement News tagged under: Cemex
Cemex seeks terminal expansion in Florida14 January 2019, Published under Cement NewsCemex Construction Materials Florida LLC is reportedly seeking to expand its cement terminal at the port in Tampa Bay due to increased demand for cement products, according to the Tampa Bay Business Journal. The company currently leases two sites at the port but wants to expand its cement terminal by around five acres. If approved, the new lease would see the company handle more cement, fly ash, slag and limestone over the 20-year period of the contract. According to reports, the company ... |
Cemex expected to increase cement price 12-13% in new year18 December 2018, Published under Cement NewsCemex 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... |
APO Cement resumes operation of kiln lines13 December 2018, Published under Cement NewsAPO Cement (Cemex) has resumed operation of its two kilns at its cement plant in the Philippines, two weeks after they were closed due to the unavailability of raw materials. The manufacturer will therefore reinstate the employees who were temporarily suspended, according to BusinessWorld. In addition, the company will no longer close its terminal in Davao City. |
Cemex begins share repurchase programme29 November 2018, Published under Cement NewsCemex 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). |
Solid Cement borrows US$75m from related company27 November 2018, Published under Cement NewsSolid Cement, an operating subsidiary of Cemex Holdings Philippines, is borrowing US$75m of subordinated revolving credit from Cemex Asia. The money will be used to refinance existing debt, alongside funding the construction and installation of the new 1.5Mta line at the company’s Antipolo facility. Solid Cement has made an initial drawdown on this facility equivalent to approximately US$40.7m, according to the Manila Bulletin. The company has also entered into the principal project agreem... |
Higher fuel and power costs affect Mexican cement producers22 November 2018, Published under Cement NewsEBITDA 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... |
Spain’s cement producers to be included in power support plan21 November 2018, Published under Cement NewsSpanish cement producers will be included in plans to support the power-intensive industry, which is facing rising electricity bills, according to the country’s Minister of Industry, Reyes Maroto. With this measure, the government plans to avoid new cases such as that of Cemex, which announced the closure of two of its seven cement works in the country. Cemex attributed the closure to the “increase in operating costs, mainly of fuels and electricity, the change in European CO 2 regulatio... |
Cemex invests US$320m in solar energy19 November 2018, Published under Cement NewsCemex 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 creates strategic partnership with Energy Vault08 November 2018, Published under Cement NewsCemex Research Group AG will is creating a strategic partnership with Energy Vault of Switzerland to launch the first gravity-based energy storage system. Energy vault uses a crane to lift 35t concrete blocks with excess electricity, then discharges electricity when demand requires by lowering the blocks to turn turbines. Cemex is working on material applications which include the optimisation of various concrete-based materials that will support Energy Vault's system deployments globally.... |
Cemex's gearing continues to decline to 89%26 October 2018, Published under Cement NewsDuring 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... |