Cement News tagged under: Cemex
Cemex CEO Zambrano dies13 May 2014, Published under Cement NewsCemex’s chief executive officer, Lorenzo Zambrano, who led the Mexican cement major for almost three decades, has died aged 70. A statement by the company said that Mr Zambrano passed away in the Spanish city of Madrid on 12 May 2014 of natural causes. Lorenzo H. Zambrano (1944-2014) A grandson of the company’s founder, Mr Zambrano joined Cemex in 1968 and worked his way through the ranks. During his career with Cemex he was involved in all operational aspects of the business an... |
Nicaragua: Cemex builds new grinding plant06 May 2014, Published under Cement NewsMexico's Cemex has begun construction on a new US$55m cement grinding plant in Nicaragua, the company said in a statement. The new grinding plant will boost cement capacity in Nicaragua by 440,000tpa and help to meet rising cement consumption. The country's cement has been boosted by the need for more housing and infrastructure development. Cemex said the new plant in Ciudad Sandino, on the outskirts of the capital Managua, will eventually include two grinding mills and is expected to be c... |
Cemex increases first-quarter volumes01 May 2014, Published under Cement NewsCemex' first-quarter turnover increased by 8.2 per cent to US$3590.7m, while the EBITDA improved by 2.7 per cent to US$535m. The trading profit rose by 11.7 per cent to US$267.7m. The net interest charge increased by 10.4 per cent to US$406.9m, to give a pre-tax loss 11.3 per cent higher at US$167.9m. The effective net debt was 0.9 per cent higher at US$16,325m, of which 88 per cent was in US dollar, 10 per cent in euro and two per cent in Mexican peso, with 66 per cent of the debt being ... |
Fitch: Spanish tax ruling negative for Cemex28 April 2014, Published under Cement NewsThe recent ruling by Spanish tax authorities to fine Cemex Espana EUR455m will slow the recovery of Cemex’s credit profile but will not result in a negative rating action to the 'B+' rating of Cemex or the 'BB-' of the company's bonds, according to Fitch Ratings. Cemex has announced it plans to appeal this fine, which was levied for alleged underpayment of taxes between 2006 and 2009. Cemex will not have to make payments, in whole or in part, during the appeal process. The timing of the res... |
EC to investigate Cemex and Holcim Spanish deal24 April 2014, Published under Cement NewsThe European Commission said on Wednesday it is investigating plans by Cemex and Holcim over a Spanish deal because of competition issues. "The Commission has concerns that the transaction may reduce competition in certain areas of Spain where the two companies' activities overlap," the EU executive said in a statement. Removing Holcim from the Spanish market “could facilitate coordination” between cement makers, the statement added. Collusion on pricing and customer allocation “could b... |
Cemex delivers 640 new homes as part of Colombian affordable housing initiative17 April 2014, Published under Cement NewsCemex announced Tuesday that it has completed 640 apartments in Colombia as part of a 3000-unit urbanisation project being undertaken by the company in collaboration with the country's government. The full project comprises 3,000 apartments divided into 96 towers of four stories each. The complexes will include recreational and green areas. The paving for the complex will be done with concrete also provided by Cemex. Colombian Housing Minister Luis Felipe Henao was present to inaugurate th... |
Cemex completes financing for wind farm project11 April 2014, Published under Cement NewsCemex has successfully completed the financing of Ventika, a project comprising the construction of two 126MW wind farms each, for a total nominal capacity of 252MW, to be located in General Bravo, Nuevo Leon, Mexico. The investment for the project is approximately US$650m, of which 75 per cent corresponds to debt and 25 per cent to equity. The debt financiers are the North American Development Bank, Banobras, Nafin, Bancomext and Santander. The equity partners are Fisterra Energy, a compa... |
Cemex announces offering of senior secured notes25 March 2014, Published under Cement NewsCemex announced today that Cemex Finance LLC (the Issuer), an indirect wholly-owned subsidiary of Cemex España, intends to offer senior secured notes in one or more series denominated in euros, subject to market and other conditions. Contemporaneous with the offering of the euro notes, the Issuer also may offer senior secured notes in one or more series denominated in US dollars, subject to market and other conditions, the company said in a statement. Cemex intends to use the net proceeds... |
Cemex supports Typhoon Haiyan reconstruction efforts, Philippines19 March 2014, Published under Cement NewsCemex’s global internal fundraising campaign raised US$500,000 in donations from its employees and the company’s two-to-one matching contribution. In the wake of Typhoon Haiyan in the Philippines, Cemex launched a global internal fundraising campaign that amassed US$500,000 in donations from its worldwide employees and the company’s two-to-one matching contribution. These donations are now being used to launch reconstruction projects in some of the most affected areas of the country. “We f... |
Cemex upbeat on Philippine market outlook05 March 2014, Published under Cement NewsCemex Philippines remains optimistic that growth in the domestic cement sector will continue to grow this year on the back of the robust construction industry and high government spending. “We expect the growth to continue this year,” Paul Arcenas, Cemex Philippines vice president for strategic planning told the Sun.Star newspaper yesterday. To meet expected rises in demand, the company is allocating US$80m to finance an additional 1.5Mta of capacity in its Naga plant this year as well as ... |