Displaying items by tag: Mexico
Cemex plans US$925m in investments in 2021 - 2023
25 June 2021Mexico: Cemex says that it will invest US$925m in 2021 – 2023 in production capacity expansions and upgrades, as well as in other projects to improve financial margins. Chief executive officer Fernando González said at its Cemex Day 2021 business update that the group is planning a 10Mt/yr cement capacity expansion consisting of an extra 7.5Mt/yr in the Americas, 1.5Mt/yr in the Philippines and 1.0Mt/yr in Europe. It expects a total increase in 2023 full-year profit of US$520m as result of the investments. Around US$425m will be spent on the cement capacity additions and the remainder will go towards projects on urbanisation and its other business lines.
Strategic planning and business development executive vice president José González said “We focus on high-growth metropolitan areas, where our products and solutions nurture the urbanisation needs of these markets. These areas represent around 70% of the population and around 80% of the gross domestic product (GDP) of construction.”
Cemex realigns climate goals to Science-Based Targets Initiative’s Well Below 2° scenario
25 June 2021Mexico: Cemex has launched a new brace of CO2 emissions reduction targets. The group is now targeting CO2 emissions below 475kg/t of cement and 165kg/m3 of concrete by 2030. These represent decreases of 40% and 35% respectively compared to 1990 levels. The group plans to invest US$60m/yr in efforts to meet its 2030 targets. It had previously targeted CO2 emissions below 520kg/t of cement by 2030. It now aims to achieve the previous target by 2025. The group says it intends to reach the new targets through the use of alternative fuels with high biomass content, hydrogen injection, low temperature and low CO2 clinker, decarbonated raw materials, optimisation of the kilns’ heat consumption and the reduction of clinker factor through the higher utilisation of blended cements in the market.
Chief executive officer Fernando Gonzalez said, “Climate action is the biggest challenge of our times, and Cemex is taking decisive action to address it. We commit to continue leading the industry in climate action.”
Mexico: Holcim subsidiary Holcim Mexico has inaugurated its new 650,000t/yr cement grinding plant at Umán in Yucatán. The cost of the project was US$40m. The plant will receive clinker from its integrated plants at Macuspana in Tabasco, and Orizaba in Veracruz. The producer says that the plant will optimise delivery times for cement customers in the area. It says that it will create 400 local jobs.
General director Jaime Hill Tinoco said, “At Holcim we are very proud to continue growing with the community, as well as to continue promoting well-being in the region through the creation of direct jobs, infrastructure and investment with this new grinding plant that, as I pointed out on the day that the first stone was laid, will strengthen national and foreign investments in benefit of the growth of the region.”
Cemex promotes Vertua admixtures range in the UK
15 June 2021Mexico/UK: Cemex has promoted its Vertua admixtures in the UK, with the launch of next generation products in the range. The producer says that Vertua admixtures used in conjunction with its grinding aids, cement enhancers, super plasticisers and accelerators further reduce the carbon footprints of these products. It called green admixtures a ‘fundamental enabler of key innovations’ which will accelerate sustainable urbanisation.
Europe, Middle East and Africa regional urbanisation solutions vice president Marcelo Catalá said, “Cemex’s Vertua range of next generation admixtures, together with our broader array of low carbon, resource-efficient urbanisation solutions, will contribute considerably to building alongside our customers a better and more sustainable future for the cities in which we live.”
Atotonilco de Tula municipal government supports Cemex’s Ecomunidad recycling initiative
11 June 2021Mexico: The municipal administration of Atotonilco de Tula, Hidalgo province, has given US$3050 to Cemex to help with the running of its Ecomunidad recycling initiative. In June 2021, the initiative involves recycling collection at 11 Cemex sites and has educated 11,000 people. Since its foundation at 20 local schools in 2019, the initiative has recycled 37t of plastic waste.
Cemex concludes sale of subordinated notes
10 June 2021Mexico: Cemex has concluded the sale of subordinated notes with a value of US$1.0bn. The company says that it will use the proceeds from the bonds sale for various purposes, including debt repayment.
Chief financial officer Maher Al-Haffar said, “The purpose of this transaction is to further Cemex in its pursuit of an investment grade capital structure and a commensurate leverage ratio.”
US: The Federal Trade Commission (FTC) has filed an administrative complaint and authorised a legal suit against Lehigh Cement’s acquisition of Keystone Cement. The HeidelbergCement subsidiary acquired the subsidiary of Mexico-based Elementia in September 2019. The commission said that the acquisition may be harmful to competition in the grey cement market in Pennsylvania and New Jersey as it reduces the number of competitors to three from four and enlarges the largest. It added that Keystone Cement’s aggressive pricing had previously caused Lehigh Cement to lower its prices.
The case will go to trial at administrative court in November 2021.
Mexico: Cemex says that it has supplied its low-CO2 Vertua concrete to 786 construction works in Mexico. The El Sol de San Luis newspaper has reported that the volume so far delivered totals 33,000m3. In late May 2021, 398 further projects have placed orders for future deliveries.
Mexico: Cement production in Mexico grew by 24% year-on-year to 56Mt in 2020. This was its highest figure in the last five years, according to BNamericas. Data from INEGI, Mexico’s national institute of statistics, shows that production in January 2021 grew by 14.5% year-on-year to 4.2Mt. Yanina Navarro, the director of the National Cement Chamber (CANACEM), said that consumption changed in 2020 to favour bagged cement over bulk. She added that cement production was allowed to continue through coronavirus-related lockdowns in 2020 as it was classified as an ‘essential’ industry.
Mexico: Cemex has partnered with UK-based oil company BP to accelerate the progress of its ambition for net-zero CO2 concrete by 2050. The partners have signed a memorandum of understanding to develop cement production and transport decarbonisation solutions. Such solutions include the transition to reduced-emissions power and vehicles, energy efficiency-improvements, carbon capture and storage (CCS) and carbon offsetting. In addition, the companies will collaborate on urbanisation solutions to decarbonise cities.
Sustainability, commercial, and operations development executive vice president Juan Romero said “Concrete plays an integral role in society, and there are no substitutes for its key attribute – strength and resilience. We believe it will continue to have a critical role in a low carbon economy, and the challenge for the industry is to find solutions to the manufacturing process emissions.” He added “This initiative with BP is another example of the work we are doing with partners across industries, academia, and startups to tap into the latest innovation and disruptive technology to achieve our ambition of delivering net-zero CO2 concrete globally to all of our customers.”