Cement News tagged under: Cemex
Trinidad Cement directors recommend rejection of Cemex bid04 January 2017, Published under Cement NewsThe board of directors of Trinidad Cement Ltd (TCL) has written to shareholders advising them to reject Cemex's TTD597m (US$89m) offer for a controlling interest in the company, the Jamaica Observer reports. “The company (TCL) has experienced a turnaround after multiple past efforts to do so. The evidence of the turnaround is supported by the company’s return to sustainable profitability in 2015 and continuing to produce positive net income throughout 2016,” said the directors in their le... |
France: Cemex highlights involvement in Grand Paris project21 December 2016, Published under Cement NewsCemex has released details of its work on the Grand Paris infrastructure project, the largest such programme in France. The company has supplied over 55,000m 3 of concrete for the extension of the Paris Metro, participated in the construction of the ZAC Clichy Batignolles Development Area and provided logistical support for the whole development. “We are proud to participate in monumental projects like the Grand Paris, which will not only reshape the iconic city of Paris, but also improv... |
Dominican Republic: Cemex starts solar tender process for San Pedro de Macorís20 December 2016, Published under Cement NewsCemex has opened tendering process for its new photovoltaic solar plant at San Pedro de Macorís in the Dominican Republic. The cement producer is looking for a company that can build and operate its new 13MW solar power plant and sell the output to Cemex. In 2014 Cemex opened its first solar farm with a capacity of 1.5MW. This was followed by an electricity supply agreement to provide its San Pedro de Macorís cement plant with wind power. |
Cemex closes sale of Ventika stake16 December 2016, Published under Cement NewsCemex announced that the company closed the divestment of its interest in the Ventika wind farm project. The Mexico-based cement producer sold its minority interest for around US$35m, with the proceeds of the transaction used mainly for debt reduction and general corporate purposes. Ventika’s entire equity is now owned by IEnova, part of Sempra Energy. Cemex Energia will remain as the manager of the Ventika windfarm facilities. |
Mexico: Cemex increases cement price 11%15 December 2016, Published under Cement NewsCemex notified its distributors that from January 2017 it will increase the price of grey cement by around 11 per cent nationwide. Other producers such as Holcim and Cruz Azul are following suit with similar price rises of around MXN300 (US$14.60) Distributors of Construramas, Cemex’s chain of shops in Nuevo Léon and other Mexican states said the latest price rise will see cement at MXN2740-3000/t. Retail customers in Nuevo Léon will see the price of a 50kg bag of cement rise by MXN155-172... |
Cemex targets TCL acquisition09 December 2016, Published under Cement NewsThis week Cemex launched a bid to acquire Trinidad Cement Co Ltd (TCL) via its subsidiary Sierra Trading, which would consolidate the strength of Cemex in the region, while providing investment for the Caribbean cement sector. The interest in TCL by Cemex is long held and the Mexican multinational already has 39.5 per cent of the shareholding in TCL group via Sierra Trading. Cemex now aims to acquire up to 132,616.942 ordinary shares in TCL for TTD4.50 per share, which if successful, tog... |
Caribbean: Cemex launch takeover bid for TCL05 December 2016, Published under Cement NewsCemex SAB de CV today announced that one of its indirect subsidiaries, Sierra Trading will present an offer and takeover bid for all shareholders of Trinidad Cement Ltd. "This Offer represents a clear sign of our commitment to TCL and the region. In addition, although we believe that our Offer is attractive given the premium to the current share price, as part of this commitment, it is also important to us that TCL remains a listed company, so that local investors can continue to benefi... |
Mexico: Cemex prepays 2017 maturity in credit agreement01 December 2016, Published under Cement NewsCemex has prepaid US$373m, corresponding to the September 2017 amortisation under the facilities agreement of 29 September 2014. Some US$664m of currently-funded commitments maturing in 2018 have now been exchanged into a revolving facility, maintaining their original amortisation schedule and the same terms and conditions. The company says that the new revolving facility will provide it with additional flexibility to optimise the use of proceeds from asset sales and free cash flow, while ... |
GCC acquires multiple Cemex operations21 November 2016, Published under Cement NewsGCC has announced the acquisition of multiple Cemex operations in the USA. The acquisition comprises a cement plant (Odessa, Texas), two cement terminals (El Paso and Amarillo, Texas) and one construction materials business located in El Paso, Texas, and Las Cruces, New Mexico, comprised of eight ready mix plants, six aggregate plants, five asphalt plants and five distribution centres. The acquisitions will see GCC’s workforce increase to nearly 3500 employees. No operational closures ... |
USA: Cemex Victorville receives WHC certification11 November 2016, Published under Cement NewsCemex USA's Victorville cement plant in southern California recently celebrated its 100th anniversary and has received the Wildlife Habitat Council (WHC) Conservation Certification for its ongoing sustainability, environmental protection and land stewardship efforts. WHC presented the Victorville plant with the certification 3 November during a ceremony at the 2016 WHC Conservation Conference in Baltimore. The designation means all Cemex USA’s cement plants in the USA are now WHC-certifie... |