Displaying items by tag: Mexico
Cemex to launch Vertua concrete product worldwide
30 October 2020Mexico: Cemex plans to launch its net-zero CO2 Vertua concrete product worldwide following its release in Europe. It said that customers in several European countries are using Vertua in infrastructure projects and climate-friendly building projects.
“We believe that climate change is one of the biggest challenges of our time, and we are committed to doing our part to address it. Vertua is clear evidence that we can transition to a carbon-neutral economy, where concrete is an essential component in the development of climate-friendly urban projects, sustainable buildings, and resilient infrastructure,” said Fernando A Gonzalez, chief executive officer (CEO) of Cemex.
Vertua uses a geopolymer binder solution created by Cemex’s Research and Development Center in Switzerland. This solution has a reduced carbon footprint of up to 70%, The compensation of the remaining CO2 is achieved by participating in reforestation projects, among other initiatives.
Cemex reports 4% nine-month sales fall so far in 2020
28 October 2020Mexico: Cemex’s net sales in the first nine months of 2020 were US$9.43bn, down by 4% year-on-year from US$9.87bn in the corresponding period of 2019. Operating earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$1.82bn, in line with the first nine months of 2019. Cement volumes fell by 2% to 46.2Mt from 47.2Mt. The group said that sales volumes increased in most regions in the third quarter of 2020 as economies began to reopen following the Covid-19 lockdown.
Fernando A González, the chief executive officer (CEO) of Cemex said, “We are pleased with our performance in the third quarter in which all regions participated in earnings recovery. Indeed, during the quarter, we experienced EBITDA recovery from the second quarter decline, due to Covid-19, as well as strong year-over-year growth. Operation Resilience played a key role in this performance.”
Grupo Cementos de Chihuahua increases nine-month earnings amid consistent sales levels
28 October 2020Mexico: Grupo Cementos de Chihuahua (GCC) recorded nine-month net sales of US$705m in 2020, down slightly from US$706 in the same period of 2019. Operating earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 10% to US$227m from US$206.
Chief executive officer (CEO) Enrique Escalante said, “We experienced mixed demand for our products in most of our markets in Mexico and the US, however both exceeded our expectations from the beginning of the Covid-19 pandemic. Looking forward, our backlog remains encouraging, while overall macro conditions show mixed signs, and short-term uncertainty prevails, mainly regarding Covid-19 outbreaks and weather. Therefore, our goal is to maintain our financial strength, keep people safe and employed, and to continue to serve GCC’s life blood - our invaluable customers.”
Mexican cement sales fall by 2% in first half of 2020
21 October 2020Mexico: Jaime Rocha Font, the president of the National Cement Chamber (CANACEM), says that cement sales fell by 2% year-on-year in the first half of 2020 due to low demand from construction companies and the private sector. He added that sales fell by 6.3% year-on-year in the second quarter of 2020, according the El Financiero newspaper. Annual sales were 43Mt in 2018 and 40Mt in 2019.
18 injured in clash at Cemento Cruz Azul’s Oaxaca plant
16 October 2020Mexico: 18 people have been injured after representatives of Cemento Cruz Azul and police took control of the integrated 2.2Mt/yr Oaxaca plant in Lagunas. The La Jornada newspaper has reported that Cruz Azul’s directors José Antonio Marín and Víctor Manuel Velázquez entered the plant accompanied by security personnel in fulfilment of a court order before fighting broke out with cooperativist members of the organisation. Police arrested five members of the group, allegedly linked to a criminal organisation, while the Cruz Azul representatives successfully retook control of the plant.
Cooperativists restricted access to the plant in August 2020. The board of directors of Cruz Azul also asserted legal control of its Cementos y Concretos Nacionales (CYCNA) subsidiary cement plants in Puebla and Aguascalientes in September 2020.
Mexico: Holcim Mexico says that it supplied a record 70,000m3 of concrete to the Dos Bocas oil refinery in September 2020, bringing the total volume supplied since major infrastructure work began at the site in March 2020 to 300,000m3. El Norte News has reported that the company is supplying the project from three sites with a total capacity of 4000m3/day: the Paraíso, Refinería and Dos Bocas concrete plants. Holcim Mexico noted that, of the 215 employees involved in the project, 50% are women.
Chief executive officer (CEO) Jaime Hill Tinoco said, “Dos Bocas is one of the most important infrastructure works in the history of LafargeHolcim and Holcim Mexico.” Upon completion in late 2022, the company expects to have delivered 2.14Mm3 of concrete to the project.
Cemex secures loan extension
14 October 2020Mexico: Cemex says that it has agreed upon an amendment to its facilities agreement to extend US$1.1bn of term loan maturities to 2025 from 2022, and US$1.1bn of commitments under the revolving credit facility to 2023 from 2022. It says that the sustainability criteria incorporated into the interest rates of the facilities agreement, now worth US$3.2bn, make it ‘one of the largest sustainability-linked loans in the world.’ The company adds that it will prepay US$530m to institutions participating in the extension, corresponding to the July 2021 amortisation under the facilities agreement, and extending its debt maturity profile through to July 2023.
The group has also decided to redenominate its debt away from the US dollar. US$313m of exposure under the term loans that are part of the facilities agreement will convert to Mexican Pesos and US$82m will convert to Euros.
Mexico: The total cement demand generated by infrastructure projects in 2020 will be 1.9Mt, down by 95% from 40Mt in 2019. The El Sol de Mexico newspaper has reported that the government plans to invest US$12.1bn in 32 projects throughout the course of 2020.
Cemex president Rogelio Zambrano welcomed the decision to continue investing in infrastructure, saying that the promised sum would likely stimulate private sector investment in construction exceeding US$13.8bn. He added, “Both self-construction and infrastructure activity are to thank for the recovery in the construction industry since June 2020.”
US court rules in favour of Compañía de Inversiones Mercantiles in Grupo Cementos de Chihuahua Sociedad Boliviana de Cemento sale case
07 October 2020US: A US federal court has upheld the ruling of a Colorado district court that Mexico-based Grupo Cementos de Chihuahua (GCC) must pay around US$36m compensation to Compañía de Inversiones Mercantiles (CIMSA) for failing to grant it a right of preference prior to GCC’s sale of its 47% stake in Sociedad Boliviana de Cemento (SOBOCE).
Peru-based Consorcio Cementero del Sur obtained 100% ownership of Bolivia-based SOBOCE following its acquisition of GCC’s stake in 2011.
Hoffmann Green Cement Technologies to supply low-CO2 concrete to social housing project
07 October 2020France: Social housing developer Immobilière 3F says that it has signed a contract with construction company Groupe GCC for the use of Hoffmann Green Cement Technologies' 78% reduced-carbon dioxide (CO2) emissions concrete for the construction of an 85-unit housing project in Saint-Leu-la-Forêt, Île-de-France.
Groupe GCC says that it participated in the development of the concrete as part of a three-year development partnership agreement with Hoffmann Green Cement Technologies signed in July 2020.