Cement News tagged under: Cemex

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Cemex develops standardised water management project

11 January 2013, Published under Cement News

Cemex has developed a methodology to standardise water management across all of the company’s operations. Starting this year, this methodology will be rolled out to all of the businesses in the countries in which Cemex operates in order to minimise the company’s water footprint and increase its water efficiency. This “Water Project” is the result of a three-year partnership between Cemex and the International Union for Conservation of Nature (IUCN) on the improvement and efficiency of wat...

CRH 's development spend reaches almost €630m in 2012

03 January 2013, Published under Cement News

In an update on its spending for the second half of the year, CRH said it had agreed 18 acquisition and investment initiatives of €375m. The transactions completed since the end of June bring full year 2012 development activity for the group to almost €630m. During the six month period, CRH said its Americas division agreed 12 deals worth a total of €256m. This included a majority stake in New Jersey's Trap Rock Industries and and also completed five other bolt-on transactions during the pe...

Cemex invests in wastewater treatment, Dominican Republic

03 January 2013, Published under Cement News

Cemex will invest DOP80m (US$2m) in a wastewater treatment plant for its San Pedro de Macorís cement works in the Dominican Republic as well as a continuous emissions monitoring system for its kiln stack. "Our challenge is to seek the prosperity of the business in the long term, minimising impacts and maximising the value generated for our people, our communities, neighbours, business partners and the environment," said Mercedes Pantaleón, environmental manager of the company. Cemex rep...

Cemex completes financial plan for 2012

18 December 2012, Published under Cement News

Cemex announced today the completion of its financial plan for 2012, which included several transactions to refinance and/or prepay debt scheduled to mature through 2014, thereby increasing the company’s financial flexibility and significantly reducing its refinancing risk. Under this year’s financial plan, Cemex reduced the amount of debt maturing through March 2015 to about US$650m, at currently prevailing foreign-exchange rates, of which approximately US$600m matures during the first qu...

Put option exercised on Cemex's Colombia IPO

13 December 2012, Published under Cement News

Cemex's Latin American subsidiary Cemex Latam Holdings (CLH) will buy back the overallotment portion of its 15 November IPO. The subsidiary will buy the 22.2 million shares included in a put option at US$6.75 each and hold those shares in treasury, Cemex said in a statement. The purchase amounts to around US$150m. Cemex Latam raised about US$1.15bn from last month's share offering via the sale of just over 170 million shares. Of the total shares, 148.2 million were sold in a public ...

Cemex leads the charge on US pricing

03 December 2012, Published under Cement News

Cemex is planning two incremental cement price increases in January and April 2013 in a bid to reverse the "chronic under-pricing of cement in the US", says Karl Watson, president Cemex USA. Speaking at a presentation in Mexico on Tuesday this week, Watson said that the price increases of US$8/t each are integral to the company's goal of achieving an EBITDA of over US$1bn by 2016.   "Prices, in real terms, averaged US$154/t in the 1970s. The current industry price of, on average, US$90/t is...

Cemex sees improved US results going forward

28 November 2012, Published under Cement News

Cemex expects improved results at its US operations between 2013 and 2016 as the local market has shown stronger than expected trends, allowing for improved profitability. Karl Watson, president of Cemex USA, told analysts during a presentation on Tuesday the company expects US housing starts to increase 16 per cent next year, reaching 873,000. The company forecast US residential sector cement demand will increase by 14 per cent in 2013. Watson said US annual cement sales are now about...

Cemex to return to profitability in 2013?

21 November 2012, Published under Cement News

Mexican cement producer Cemex is seen on track to return to profitability as soon as 2013, according to analysts quoted by Reuters. The company recently refinanced US$6.7bn in debt, negotiating much-need room to push back looming payments for up to four years. Measures included a commitment to pay down US$1bn in March of next year, revised financial covenants and a debt swap, all of which have put relations with investors on a more comfortable footing.  In addition, Cemex floated its C...

Cemex: October ‘12

09 November 2012, Published under Cement News

During the first nine months of the year, Cemex' turnover came off by 2.1% to US$11,273.8m, but the EBITDA did improve by 9.0% to US$2,003.2m. The trading profit rose by 37.8% to US$1,921.8m and the net interest charge increased by 3.7% to US$1,044.8m. After taking losses on financial instruments and other non-trading items into account, the pre-tax loss, which had jumped by 113.2% a year earlier, fell by 74.7% to US$174.3m. The net attributable loss dropped by 64.8% to US$419.7m. The net d...

Cemex: US far from fully recovering

09 November 2012, Published under Cement News

Cemex has said that it is pleased with the way its US business is progressing but that it is still far from fully recovering. Speaking to Reuters, Maher Al-Haffar, Cemex's vice president of corporate communications and investor relations, said in an interview, said: "We are cautious and we are far from a full recovery in the US business but the trend is certainly in the right direction." In the first nine months of this year Cemex’s US turnover recovered and rose by 19.2 per cent to US$2...