Displaying items by tag: Mexico
Cemex USA to establish new aggregates plant in Alabama
24 August 2021US: Cemex USA has announced plans for an upcoming 600,000t/yr aggregates plant in Brierfield, Alabama. The Birmingham Business Journal newspaper has reported that, when operational, the plant will supply the company’s ready-mix concrete operations in the state. The subsidiary of Mexico-based Cemex operates 30 batching plants in Alabaster, Tuscaloosa and Vance.
Mid-South regional president Marc Tyson said “The Brierfield plant gives us a new opportunity to support our existing customers and earn the business of new ones by leveraging the wealth of experience of our team and providing them materials sourced from all parts of Cemex USA's supply chain.”
Cemex joins research consortium
20 August 2021Mexico: Cemex has announced that it will join forces with the National Autonomous University of Mexico (UNAM) and Tecnológico de Monterrey (TEM) to promote Research and Development projects focused on ‘solving the company's current needs to offer more value to its customers, suppliers and stakeholders.’ Cemex has joined the Consortium for Research, Technology Transfer and Entrepreneurship UNAM - TEC through the signing of a ‘’ memorandum of understanding’ that took place on 19 August 2021.
"Cemex recognises the value and capacity of UNAM and TEM for the development of research,” said Ricardo Naya, President of Cemex Mexico. “We are convinced that by joining the Consortium we are taking an important step towards solving the real and current challenges we face as a company. This alliance will help us accelerate our innovation projects, such as the Future in Action program, with which we seek to achieve carbon neutrality, among many other projects that we hope to promote with both academic institutions.”
Mexico: Cemex has supplied over 100,000m3 of its Vertua concrete product range to projects in its home country. Deliveries reached 113,000m3 to 1700 projects by the end of July 2021. Outstanding orders exceed 500 projects. The company launched the low and net-zero CO2 concrete products in early 2021.
Cemex Ventures invests in Carbon Clean
04 August 2021Mexico/UK: Cemex Ventures has become an investor in Carbon Clean. It joins existing investors Equinor Ventures, ICOS Capital and WAVE Equity Partners. The companies have invested US$8m in Carbon Clean extending its US$22m series B investment round, previously announced in July 2020, to US$30m in total. Cemex’s investment is part of its strategy to achieve its new climate action goals, including being net carbon neutral in concrete by 2050, under its Future in Action programme.
Carbon Clean has developed a modular CO2 capture and separation technology that it calls CycloneCC. As well as reducing the size of installation and construction time, it is aiming to reduce operating expenditures to around US$30/t of CO2 at an industrial scale. In 2020, the subsidiary of Cemex signed an agreement with Carbon Clean, which allowed the companies to outline a roadmap for jointly developing and implementing carbon capture technologies across cement operations.
Cemex joins the Business Ambition for 1.5°C campaign
03 August 2021Mexico: Cemex has signed the Business Ambition for 1.5°C commitment led by the We Mean Business Coalition in partnership with the Science Based Targets initiative and the United Nations (UN) Global Compact. With this commitment in place the company has also joined the Race to Zero campaign of the UN Framework Convention on Climate Change. All members of the Race to Zero coalition pledge to reach net-zero emissions by 2050 at the latest, in line with global efforts in limiting global warming to 1.5°C. Cemex says that these objectives align with its Future in Action programme to reduce its carbon footprint by delivering net-zero concrete globally by 2050.
“Cemex’s commitment to Climate Action runs deep and we are excited to partner with prominent global organisations to deliver on this challenge. Implementing climate solutions require active collaboration between industry, governments, non-governmental organisations and multilateral agencies, and we intend to continue to play an active role in these efforts. We encourage others to join us in this important challenge”, said Fernando A. González, the chief executive officer of Cemex.
In addition, Cemex has submitted its new 2030 target of below 475Kg CO2/t of cementitious product for validation to the Science-Based Targets initiative as part of its commitment to fulfil its ambition of carbon neutrality by 2050.
Mexico: Cemex sales grew by 17% year-on-year to US$7.27bn in the first half of 2021 from US$5.98bn in the same period in 2020. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 38% to US$1.50bn from US$1.09bn. Cement and concrete sales volumes increased by 16% to 34Mt and 9% to 24.1Mm3. Growth was reported in all regions, often due to recovery from coronavirus-related lockdowns in the first half of 2020.
“Quarterly highlights include the achievement of our long-time leverage goal, a 39% increase in quarterly EBITDA, and our announcement of industry leading Climate Action targets,” said Fernando A González, the chief executive officer of Cemex. “Our growth in the quarter, which exceeded pre-pandemic levels, gives us confidence that this performance is sustainable in the second half of the year.”
Mexico/US: GCC plans to spend US$450 - 500m on upgrade projects to its cement business over the next three years to 2024. It is considering building a new 1.1Mt/yr clinker production line at an unnamed existing plant but the board of directors has yet to make a final decision. Other projects include strengthening the group’s cement distribution network in Minneapolis, Minnesota and Utah in the US. This would also include building two new cement terminals. A debottlenecking project is being planned at the Samalayuca plant in Chihuahua state. This would increase the plant’s production capacity by 0.2Mt/yr and is scheduled for completion by the end of 2022. A final project is also scheduled for the Chihuahua plant to improve operational efficiency, and enhance social and environmental responsibility.
In earnings conference call notes for the second quarter of 2021 the cement producer reported for the US: “Every kiln at GCC is up and running; for practical purposes, our system is sold out.” It also noted bottlenecks in its grinding, storage and shipping installed capacity.
GCC reports strong first half of 2021
28 July 2021Mexico: GCC’s sales rose by 9.7% year-on-year to US$466m in the first half of 2021 from US$424m in the same period in 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 15.3% to US$147m from US$127m. Cement sales volumes grew by 3.2% and 11.5% in the US and Mexico respectively. Concrete sales volumes fell by 21.1% in the US but grew by 22.8% in Mexico.
“Cement demand is stronger than pre-pandemic levels and construction activity is expected to remain robust throughout the year. Every kiln at GCC is up and running,” said Enrique Escalante, GCC’s chief executive officer.
Cemex set to build new Tigres football club stadium
16 July 2021Mexico: Cemex is set to begin construction of a planned US$250m new stadium for its football team Tigres UANL in Monterrey, Nuevo León. The Récord newspaper has reported that the stadium, on the grounds of the Nuevo León Autonomous University, may host some North America 2026 World Cup fixtures.
Mexico: Cemex has closed the sale of its white cement business outside of Mexico and the US for US$155m to Turkey-based Çimsa Çimento. The assets sold include the company’s Buñol white cement plant in Valencia, Spain. The group said that the proceeds from the sale would be used to fund its bolt-on investment growth strategy in its core businesses and geographies, and contribute to debt reduction.