Cement News tagged under: Cemex
Cemex sells its Bangladesh operations to Siam City27 May 2016, Published under Cement NewsCemex has closed the sale of its operations in Bangladesh and Thailand to Siam City Cement for approximately US$53m.The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. |
North America: fires at plant and quarry12 May 2016, Published under Cement NewsOn Tuesday fires broke out at both the Cemex Balcones Quarry, Texas, USA, and the Lehigh Hanson Materials cement plant in Edmonton, Alberta, Canada. Sara Bouffard, Cemex director of communications, said no one was hurt. The fire was ruled accidental and determined to have been caused by welding. Fire marshal Kory Klabunde said he was unsure how much damage the fire caused, but the investigation was complete. Lehigh Hanson Health and Safety Director, Gerry Sanderson, said the plant was not ... |
A change of strategy: Cemex to sell some US assets06 May 2016, Published under Cement NewsCemex, the Mexican giant of the cement world, announced this week that it intends to further reduce its exposure in the USA by selling US$400m worth of assets to a US subsidiary of fellow Mexican Grupo Cementos de Chihuahua. Is this part of a long-term plan to pull business out of the USA, to reduce debt or is Cemex reluctantly selling cement capacity in a country that the PCA has forecast will see a 3.4 per cent rise in cement consumption in 2016? At the close of 2015 Cemex’s US operation... |
Cemex develops fire-resistant and explosion-proof concrete05 May 2016, Published under Cement NewsCemex Mexico announced today that its developed a fire- and explosion-resistant concrete designed specifically at first to safeguard data processing centre, Proyecto Q, of the Santander Group, in Querataro, Mexico. Located only 20m away from a petrol station, the centre was vulnerable to the effects of potential thermal radiation (fire) and overpressure (explosion). The Santander Group turned to Cemex for the design and construction of a perimeter wall capable of withstanding both scenari... |
Cemex intends to reduce its US exposure to reduce debt03 May 2016, Published under Cement NewsIn a further effort to reduce its high gearing, which stood at 180.1 per cent at the end of March, Cemex has agreed to sell assets worth US$400m to a US subsidiary of the Mexican Grupo Cementos de Chihuahua. The deal includes two cement plants – a 0.76Mta integrated plant in Odessa, Texas and a 0.57Mta integrated plant in Lyons, Colorado – as well as three cement terminals and building materials businesses in Texas and New Mexico. Plans are in hand, however, to increase the capacity o... |
Cemex offers to buy back up to $400 mln in debt26 April 2016, Published under Cement NewsCemex, Mexico, said on Monday it had launched an offer to buy back up to US$400mn of debt on senior note issues due to mature in 2018, 2019 and 2022. The company said in a statement the offer was for its 2018 floating rate notes, its 2019 notes bearing a 6.5 percent coupon and the 9.375 percent notes falling due in 2022. However, Cemex noted it would not buy back more than US$150mn of the 2022 debt. |
Cemex's 1Q16 net sales increase 3%21 April 2016, Published under Cement NewsCemex has announced that its consolidated net sales reached US$3.2bn during the first quarter of 2016, an increase of three per cent on a like-for-like basis for the ongoing operations and adjusting for currency fluctuations, versus the comparable period in 2015. Operating EBITDA increased 12 per cent on a like-to-like basis during the quarter to US$583m versus the same period in 2015. Net sales in Mexico decreased 17 per cent in 1Q16 to US$633m, compared with US$766m in the first quarter o... |
USA: Cemex fined US$400,000 over negligence at Kosmos Cement21 April 2016, Published under Cement NewsCemex-owned Kosmos Cement has pleaded guilty to negligence over its failure to comply with health and safety standards , which contributed to the death of a contractor. The company was fined US$400,000, of which US$200,000 is payable immediately. The remaining US$200,000 will be waived if Cemex upgrades the facilities at its plant in Louisville, Kentucky, to the required standard, adopts a written maintenance control programme and allows on-site inspections by state officials. Accordin... |
Cemex paves Egypt's first concrete highway14 April 2016, Published under Cement NewsCemex in Egypt contributed to the paving of Egypt’s first concrete highway. The approximately 22-mile (35km) road connects Cairo, the country’s capital, with the seaport city of Suez, two of the nation’s most important economic centres. Cemex supplied 130,000m 3 of concrete for the Cairo-Suez highway. This concrete paving solution offers this country a number of advantages over traditional asphalt roads, including greater durability, higher tolerance, better visibility – especially at nig... |
Cemex to invest in seven energy projects01 April 2016, Published under Cement NewsCemex has plans for seven energy projects in Mexico, including wind parks, according to its CEO, Fernando González Olivieri. The structure of the investment would run along similar debt-to-equity lines as used in the construction of the Ventika wind farm, promoted by Cemex and Fisterra Energy, a Blackstone subsidiary. Some 75 per cent of funds were contributed by NadBank, Banobras, Nafin, Bancomext and Santander. The balance was met by Fisterra, Cemex and other investors with Cemex investi... |