Cement News tagged under: Mexico
Elementia appoints new CEO24 June 2020, Published under Cement NewsMexico’s Elementia has appointed Jaime Rocha Font as its new CEO, with effect from 2 September 2020. Mr Rocha Font will take over the position from Fernando Ruiz Jacques, who has held the role since February 2015. Mr Rocha Font is the current head of Elementia’s cement division and thereby serves as the CEO of Cementos Fortaleza. Alongside this, he has been the president of the country’s National Cement Chamber since 2019. "I appreciate the work and dedication that Fernando Ruiz carrie... |
Cemex announces plans for US$1bn bond issue03 June 2020, Published under Cement NewsCemex has announced plans to issue US$1bn worth of bonds, with a 7.375 per cent coupon and a maturity date of June 2027. The issue is expected to be used to support ongoing business activities, including debt repayment. The bonds will be issued with an option to repurchase them four years prior to maturing and the offering period will close on 5 June. Elsewhere, Mexico's energy regulator approved new rates that electricity providers must pay the national power utility for transmission... |
Cemex amends consolidated financial leverage limits26 May 2020, Published under Cement NewsAs part of a strategy to respond to the effects of the coronavirus pandemic, Cemex has amended its main banking contract to modify the limits of its consolidated financial leverage. Its leverage limit will increase to 6.75x by June 2020 and to 7.00x from September 2020 to March 2021, before decreasing again at a later date. "At the end of the first quarter of 2020, Cemex reported a consolidated financial leverage ratio of 4.40x," said the company. |
Cemex announces organisational changes22 May 2020, Published under Cement NewsCemex has made several immediate appointment changes and changes at senior positions in the company. Jose Antonio Gonzalez, Cemex's current executive vice president of finance and administration, has been appointed executive vice president of strategic planning and business development. Maher Al-Haffar, current vice president of investor relations, corporate communications and public affairs, has been appointed executive vice president of finance and administration. Maurice Boehner, cur... |
GCC sees 11% rise in consolidated net sales for 1Q2030 April 2020, Published under Cement NewsMexico’s Grupo de Cemento de Chihuahua (GCC) has announced an 11 per cent increase in consolidated net sales to US$181.4m for the first quarter of 2020. EBITDA also advanced 18.4 per cent YoY to US$45.3m from US$38.3m, with the EBITDA margin rising to 25 per cent from 23.4 per cent. "Both our divisions delivered strong results in the first quarter of the year, as the economic impacts of the pandemic weren't fully realised until late in the quarter. All of our operations are running at a st... |
Digital bricks and mortar28 April 2020, Published under Cement NewsDigital transformation has been a key area of value creation for Mexican building materials major Cemex. Its trailblazing digital solutions include a customer-centric suite of services, the transformation of its truck fleet management and investing in innovative start-ups to foster the construction revolution. By German Carmona, NEORIS, Mexico. Cemex has positioned itself at the forefront of the digital transformation in the building materials sector To obtain and secure a compe... |
First sustainable credit to the Mexican cement industry agreed27 April 2020, Published under Cement NewsBBVA Mexico has formalised a sustainable credit for MXN2.2bn (US$88.7m) over a five-year term to Cooperativa La Cruz Azul. According to the bank, it is the first sustainable credit in the Mexican cement industry and also the first of this year. The producer is expected to use the funds to modernise its production plants in Hidalgo and Oaxaca to reduce energy and water consumption, thereby making its production more efficient and reinforcing its commitment to the environment. The credit... |
CMIC president warns that workers may soon lose salary17 April 2020, Published under Cement NewsThe national president of the Mexican Chamber of the Construction Industry (CMIC), Eduardo Ramírez Leal, has warned that the minimal operation of smaller construction companies will result in around 500,000 workers in the sector losing income at the end of April. "In the next 15 days, it's when a lot of workers are no longer going to be getting paid because their employers won't have to pay them," said Mr Leal. The chamber represents 12,000 construction companies across the country. "I... |
Mexico: getting back to business10 April 2020, Published under Cement NewsThis week, Cemex was quick to announce that it was resuming operations, having previously fallen into line with the National Cement Chamber’s (CANACEM) decision to cease cement plant operations in Mexico on 2 April 2020. Pressure to keep construction and cement sectors operational Cemex's announcement was a rapid about-turn on the advice that CANACEM president, Jaime Rocha Font, had given earlier: "We will stop supplying public and private works as of Saturday 4 April, this including th... |
Cemex resumes operations in Mexico07 April 2020, Published under Cement NewsCemex is resuming its building material operations in Mexico in line with the technical guidelines published in the official Mexican gazette to support the development of the economy during the COVID-19 pandemic. Cemex will comply with all measures indicated by the Ministry of Health to operate in a safe and responsible environment. The health and safety of employees, contractors, suppliers, customers and communities is a top priority for Cemex and the company will continue to enforce its h... |