Cement News tagged under: usa
Cemex: 9M13 turnover edges ahead25 October 2013, Published under Cement NewsFor the first nine months of the year, Cemex' turnover edged ahead by 0.7 per cent to US$11,352.7m but but EBITDA eased by 0.3 per cent to US$2001.2m as Mexico continues to drag on the company's performance although substantial improvements are seen in the US. The trading profit improved by 12.3 per cent to US$926.3m while the net interest charge increased by 8.3 per cent to US$1,139.4m. The pre-tax loss was reduced by 27 per cent to US$174.3m, but a 53 per cent increase in the tax cha... |
Cemex third quarter loss expected to narrow21 October 2013, Published under Cement NewsCemex is expected to post a narrower third quarter loss for the July-September period of 2013 led by a pick-up by US sales, the company’s biggest market. According to a Reuters' survey of six analysts, the Mexican cement major is expected to report a loss of US$22m compared with a loss of US$203m a year earlier. An increase in US sales is expected to offset weak performances in Europe and Mexico, the news agency said. Analysts expect third-quarter results to show that Cemex sold more cemen... |
PCA: political risks could derail US recovery11 October 2013, Published under Cement NewsUS economic growth and employment levels continue to improve and PCA forecasts that this trend will carry on through 2013. However, the association warns that domestic political risks do have the potential to undermine this improvement. A recent article by the PCA notes that the Federal government shutdown (depending on its duration), along with long-term debt ceiling and budget sequestration actions could present near-term weakness. In terms of construction, the residential market is heal... |
Fitch rates Cemex outlook Stable07 October 2013, Published under Cement NewsFitch Ratings has assigned 'BB-/RR3' ratings to Cemex's proposed floating rate senior secured notes due in 2018 and senior secured notes due in 2021. The 2018 and 2021 notes will be guaranteed by Cemex Mexico, Cemex Concretos, Empresas Tolteca de Mexico, Cemex Espana, New Sunward Holding BV, Cemex Asia BV, Cemex Corp, Cemex Egyptian Investments BV, Cemex Egyptian Investments II BV, Cemex France Gestion, Cemex Research Group AG; Cemex Shipping BV and Cemex UK. The rating outlook for Cemex ... |
USA: TXI 1Q13 results reap the benefits of new line start-up03 October 2013, Published under Cement NewsTexas Industries Inc saw first quarter turnover increase by 33.6 per cent to US$233.1m, while corporate overheads were reduced by 15 per cent to US$8.7m and the EBITDA advanced by 94.2 per cent to US$37.3m. The interest charge jumped by 123.4 per cent to US$17.4m, reflecting the start-up of the Hunter cement plant in Texas, and at the pre-tax level there was a swing form an underlying loss of US$7.5m to profit of US$0.6m. At the net attributable level there was a swing from a US$2.7m loss ... |
USA: conservation group eyes Davenport cement plant03 October 2013, Published under Cement NewsLos Altos-based Sempervirens Fund, one of several conservation groups to recently secure 8500 mountainous acres above the Davenport cement facility, formerly owned by Cemex, is interested in acquiring the plant site as part of an ambitious plan to permanently protect the sparsely populated, postcard-beautiful coastal mountains above Santa Cruz. The idea is in the very early stages, but Sempervirens Fund recently received a US$10,000 grant from the Center for Creative Land Recycling to furt... |
USA: Lehigh Cement may face new challenge to quarrying rights03 October 2013, Published under Cement NewsLehigh Cement may face a challenge to its legal rights to mine on approximately 13 of 19 parcels of land at the cement facility and quarry located just outside Cupertino. The Midpeninsula Regional Open Space District is hoping to overturn a 2011 decision by the Santa Clara County Board of Supervisors to allow Lehigh cement to operate on the land in dispute. Crucially the supervisors' decision means Lehigh is exempt from many Santa Clara County requirements for a discretionary use permi... |
US to drive gains in Cemex EBITDA – report23 September 2013, Published under Cement NewsThe US construction sector is expected to be the main driver behind an annual 12.6 per cent rise in Cemex’s EBITDA over the next five years, a report by Banco Monex has stated. Cemex is expected to achieve an annual growth rate in sales and EBITDA of 6.7 per cent and 12.6 per cent respectively over the next five years, driven by a recuperation of the US construction sector, the report said. In the first half of this year, Cemex’s United States, turnover advanced by a further 8.4 per cent t... |
CRH announces US management changes19 September 2013, Published under Cement NewsCRH plc announces that Doug Black, chief operating officer of Oldcastle, Inc (the holding company for CRH's interests in the Americas) is leaving the group to pursue other interests. As a result of this, Randy Lake, chief executive of Oldcastle Materials, Keith Haas, chief executive of Oldcastle Building Products, Bob Feury, chief executive of Oldcastle Distribution and Joe Myers, president of Oldcastle Building Solutions, will report directly to Mark Towe, chief executive of Oldcastle. C... |
PCA sees higher demand growth from 201413 September 2013, Published under Cement NewsWhile an unusually wet spring and early summer impacted cement consumption in the first quarter of 2013, it has not put a dampener on the opportunity for strong growth in the construction sector in 2014 and beyond, the Portland Cement Association (PCA) writes in its latest forecast. The industry association sees cement consumption increasing by a modest four per cent in 2013, but will approach double-digit growth in 2014 and 2015, with 9.7 per cent consumption increases in both years. "... |