Cement News tagged under: Cemex
Cemex: June '1206 July 2012, Published under Cement NewsAs a result of investing in excess of US$175m since 2005 in boosting the use of alternative kiln fuels, Cemex has currently achieved a 25 per cent substitution rate. The target is to increase this substitution rate to 35 per cent by 2015, when it comes to cement production. |
Standard & Poor's puts Cemex 'B-' rating on watch negative04 July 2012, Published under Cement NewsRatings agency Standard & Poor’s (S&P) may cut the credit rating on Cemex and its key operating subsidiaries following the cement major’s recently announced refinancing proposal. Cemex’s debt is rated B- by S&P. Last week Cemex announced a proposal to refinance US$7.3bn in bank debt, including a three-year extension on debt due in 2014 and an initial US$1bn payment to lenders by March 31, 2013. Sources of payment may include select asset sales. “If lenders approve the proposal, in our ... |
Cemex expects to launch debt exchange offer next week02 July 2012, Published under Cement NewsCemex expects to launch a debt exchange offer next week, a top company official told Reuters on Friday. The offer is part of a new refinancing deal it proposed to creditors in New York on Friday. A second presentation to its lenders in Madrid will take place today. Maher Al-Haffar, Cemex's vice president of corporate communications and investor relations, said the debt refinancing could conclude in the third quarter. |
Cemex launches refinancing plan26 June 2012, Published under Cement NewsCemex launched a proposal on Monday to refinance debt due in 2014. The company said it will propose a three-year extension of debt maturing in February 2014 to February 2017, and it plans a US$1bn pay down of debt in 2013, which may include some asset sales. The company said it had meetings scheduled with its lenders on June 29 and July 2 to discuss the refinancing proposal, which was negotiated with a number of its banks. The proposal also includes an upfront fee and revised margin, the s... |
Cemex launches 'Oceans: Heart of Our Blue Planet' book20 June 2012, Published under Cement NewsCemex UK and Conservation International Europe have presented their book, Oceans: Heart of Our Blue Planet, at a Royal Society reception in London. The book, which has also been developed in association with the International League of Conservation Photographers and other conservation bodies, outlines life’s dependency on a healthy ocean.??Through analysis from renowned marine scientists and with over 150 images by leading photographers, the book aims to offer innovative and creative solu... |
Cemex Mary Nour fine upheld by antitrust authority15 June 2012, Published under Cement NewsCemex has said Mexico’s antitrust agency upheld a fine of MXP10.2m (US$729,000) against the company for blocking a 2004 cement shipment from Russia, according to Bloomberg reports. Cemex sees the fine as unfounded and will seek an injunction against it, said Jorge Perez, a company spokesman. The Monterrey, Mexico-based company appealed the fine, which the nation’s Federal Competition Commission imposed in February. The blocked delivery occurred when a group of competitors tried to impor... |
Cemex targets 35% alternative fuels substitution by 201514 June 2012, Published under Cement NewsCemex has set a target of a 35% alternative fuel substitution rate in cement production by 2015, and is on track to make it happen. Cemex recently announced that it has invested more than US$175m, adjusting its production process and installing equipment to prepare, handle and feed alternative fuels into its cement kilns. In 2011, Cemex achieved approximately a 25% alternative fuel substitution rate in its cement production, the highest rate among its global peers. The alternative fu... |
Cemex wins arbitration over sale of some European assets13 June 2012, Published under Cement NewsCemex said Monday that an arbitration court has ordered Austria's Strabag SE pay Cemex EUR30m plus interest and other costs after the European company pulled out of a 2008 agreement to buy Cemex assets in Austria and Hungary. C emex said in a filing with the Mexican stock exchange that the International Arbitration Court of the International Chamber of Commerce ruled on May 31 that Strabag's termination of the agreement was invalid, and that the sides were notified on 1 June, according to r... |
Cemex supplies ready-mix concrete to Euro 2012 stadium, Poland08 June 2012, Published under Cement NewsCemex announced today that it has provided 50,000m3 of ready-mix concrete for a state-of-the-art soccer stadium that will host several games of the UEFA EURO2012 Poland-Ukraine championship, including the game in which Spain will start the defense of its UEFA EURO2008 title, against rival Italy on June 10. The new PGE Arena Stadium in Gdansk, Poland, has a capacity of 42,000 spectators and won the Architecture and Design Award at the Stadium Business Awards in May 2012. “Our participation... |
Cemex to supply large Qingdao urban complex, China01 June 2012, Published under Cement NewsCemex announced today that it is supplying nearly 60,000m3 of ready-mix concrete for the first stage construction of what is expected to be the largest urban complex in the Chinese city of Qingdao, in the eastern Shandong province. Qingdao is a major city with a population of approximately 7.6 million permanent inhabitants and in 2009 was named China’s most livable city by the Chinese Institute of City Competitiveness. Cemex was awarded the Hua Run Center project after a competitive biddin... |