Cement News tagged under: Mexico
Elementia plans IPO, Mexico23 September 2014, Published under Cement NewsMexico's Elementia is exploring the possibility of soon launching an initial public offering (IPO) to expand its cement business and fuel further acquisitions, the company's chief executive officer said on Monday. Senior Elementia executive Eduardo Musalem said in a conference call that the company was looking at issuing stock and that a decision would be made by the beginning of next month. He added that it was too early to say how big the share offer could be. The company has four divisi... |
Mexico: Lafarge sells its minority stake in Elementia22 September 2014, Published under Cement NewsLafarge announces the sale of its 47 per cent minority stake in its cement operations in Mexico to Elementia for a cash consideration of US$225m (EUR175m). The joint venture between Lafarge and Elementia operates three cement plants in central Mexico, close to the capital city. This divestment will contribute to Lafarge's objective to reduce net debt. This transaction is subject to the approval of relevant authorities and customary closing conditions. |
New FLSmidth Service Centre in Zacatecas, Mexico19 September 2014, Published under Cement NewsFLSmidth recently opened its newest service centre in Zacatecas, Mexico. The official opening was attended by Zacatecas state governor, Miguel Alonso Reyes; Patricia Salinas, secretary of economy and social development; Ingeniero Horacio Franco, Mayor; representatives from the state government administration and the Mexican mining community, and the press. FLSmidth was well represented with key management personnel attending from the Salt Lake City, Santiago and local Mexican offices. The g... |
Cemex to buy back over US$950m of debt18 September 2014, Published under Cement NewsCemex said on Wednesday it would buy back more than US$950m worth of its debt from bondholders through a tender offer, as part of a wider plan under a new chief executive to reduce its leverage, Reuters reports. Cemex said holders of US$592.5m worth of outstanding nine per cent notes due in 2018 and US$365.1m worth of 9.25 per cent notes due in 2020 had tendered their notes by the Wednesday deadline. The purchase will help the company to lower its debt-to-equity ratio and reduce interest p... |
Fitch Assigns 'BB -' Ratings to CEMEX's Notes08 September 2014, Published under Cement NewsFitch Ratings has assigned expected ratings of 'BB-/RR3(EXP)' to Cemex's proposed USD notes due in 2025 and its proposed Euro notes due in 2022. Proceeds from the Euro notes issuance will be used for general corporate purposes, including the repayment of indebtedness under Cemex's Facilities Agreement. Proceeds from the USD issuance will be used for general corporate purposes, including the repurchase of a portion of the company's outstanding 2018 and 2020 notes. The Rating Outlook for Cemex... |
Argos considers acquiring Holcim and Lafarge Latin America divestments15 August 2014, Published under Cement NewsColombia's Cementos Argos is currently looking into acquiring the assets Lafarge and Holcim are planning to sell in Latin America, particularly Mexico and Brazil. However, it has not yet finalised any negotiations. "We are firstly interested in looking at Mexico and Brazil," said José Alberto Vélez, president of the Argos Group, in the local newspaper La República. "We have been watching with interest and enthusiasm, but have nothing concrete yet." Earlier this month, Holcim and Lafarge... |
Cemex EBITDA margin under pressure21 July 2014, Published under Cement NewsCemex' first-half turnover improved by 5.7 per cent to US$7736.5m and the EBITDA edged ahead by 1.5 per cent to US$1269.7m, while the trading profit improved by 4.5 per cent to US$721.5m. Net interest payments rose by 15.1 per cent to US$841.4m and, after other charges, there was a pre-tax profit of US$49.2m compared with a US$118.9m loss. At the net attributable level, the loss fell by 49.1 per cent to US$220.3m. Equity shareholders' funds at the end of June declined by 2.6 per cent ... |
Cemex heading towards strong earnings rebound17 July 2014, Published under Cement NewsCemex is expected to post a significant rebound in pretax earnings for the full year, driven primarily by the US recovery and an anticipated pick-up in Mexican volumes and pricing, according to JP Morgan forecasts. In a largely positive report on Latin American cement companies, JP Morgan notes: "We like the Cemex story on the back of strong growth in EBITDA…especially from the US and Mexico. Also, growing free cash flow should help to un-leverage its balance sheet. Propelled princip... |
Elementia in talks for Lafarge JV stake, Mexico15 July 2014, Published under Cement NewsElementia SA, the Mexican cement maker backed by Carlos Slim and Antonio del Valle, is in talks to buy out partner Lafarge SA in their Mexican joint venture, Bloomberg reported Monday citing people with knowledge of the matter. Elementia reportedly has the right to buy Lafarge's 47 per cent stake under an option in the original terms of the Mexico partnership. Lafarge's move to sell the stake is said to be in line with its proposed merger with Holcim which also has operations in Mexico. It ... |
Mexico: Cementos Fortaleza inaugurates new plant10 July 2014, Published under Cement NewsCementos Fortaleza’s new 1Mta greenfield plant in Santiago de Anaya, Hidalgo, Mexico, has been inaugurated. The official launch took place in the presence of Elementia president, Francisco Del Valle Perochena, along with Mexico’s Minister of the Economy, Ildefonso Guajardo Villarreal, and Hidalgo’s state governor, Franciso Olvera. “After 70 years a new cement company is born in the country; we are very proud and committed to participate in this industry,“ said Mr Del Valle Perochena. Ou... |