Displaying items by tag: Cemex

US: Cemex US has appointed Will Price as Senior Vice President of Mergers & Acquisitions.

Price previously held corporate development roles at Cornerstone Building Brands, and engineering and corporate development positions at Oceaneering International. He holds a degree in aerospace engineering from the University of Texas and a master of business administration qualification, focused on corporate finance, from the University of North Carolina at Chapel Hill.

US: The American Cement Association (ACA) has elected Monica Manolas as the chair of its board of directors. Manolas is the Region President at Ash Grove East. She is the first woman in the ACA history to be elected to this position. David Loomes, president of the Cement Segment at Quikrete Cement, was appointed as vice chair.

Manolas previously worked as the president of Suwannee American Cement from 2018 to 2022. Before this, she held roles at Cemex eventually becoming Vice President Cement Sales. She began her career in the cement sector working for Rinker in the 1990s. Manolas holds a master’s degree in industrial and systems engineering and a master’s in business administration (MBA) from the University of Florida.

Mexico: Cemex has released its third quarter financial results, reporting a 5% rise in net sales and double-digit consolidated earnings before interest, taxation, depreciation and amortisation (EBITDA) growth, driven by operational efficiencies and higher prices. The company achieved US$90m in EBITDA savings through Project Cutting Edge and expects to reach its full-year target of US$200m.

During this period, Cemex completed the divestment of its operations in Panama and acquired a majority stake in US-based Couch Aggregates. In Europe, the company remains ahead of the European Cement Association’s 2030 CO₂ emissions target. Third-quarter sales in Mexico were down by 2% year-on-year to US$1.12bn, while EBITDA was up by 16% to US$369m. In the US, sales were down by 2% to US$1.31bn, while EBITDA was up by 4% to US$269m. In the Europe, Middle East and Africa region, sales were up by 11% to US$1.38bn, while EBITDA was up by 23% to US$247m. South, Central America and the Caribbean saw sales up by 6% to US$295m and EBITDA up by 55% to US$64m.

CEO Jaime Muguiro said “Our achievements in the quarter confirm that we are setting a strong foundation to position Cemex as a more focused, agile and high-performing company.”

Spain: Cemex has signed a collaboration agreement with Enagás, through its subsidiary Scale Green Energy, to develop logistics solutions for the maritime transport of captured CO₂ from cement production, aiming to accelerate industrial decarbonisation. The partnership will explore options for transporting captured CO₂ via pipeline. It includes developing a full CO₂ value chain, from capture at Cemex facilities to maritime shipment in liquefied form aboard a new vessel designed by Scale Green Energy, to eventual delivery to a licensed storage site in southern Europe. Scale Green Energy plans to design a next-generation vessel with a capacity of 20,000m³ for the transport of liquefied CO₂, enabling flexible and efficient transport to multiple Mediterranean storage hubs.

Jesús Saldaña, general manager of business development and investee companies at Enagás, said “This alliance to develop comprehensive logistics for the maritime transport of captured CO₂ represents an opportunity for Enagás and Cemex to jointly lead innovation to help decarbonise the industry, boosting its competitiveness, and for Spain to play a leading role in achieving the European Commission's goal of capturing 50Mt of CO₂ by 2030.”

Benjamín Cabrera, director of cement and technology operations at Cemex Spain, added “To advance the decarbonisation of the cement industry, it is essential to develop large-scale logistics solutions that allow us to manage large volumes of CO₂ safely, efficiently, and competitively. This agreement lays the foundations for a pioneering infrastructure that will connect Cemex plants in Spain with the main storage hubs in the Mediterranean.”

Mexico: Cemex has completed the sale of its operations in Panama to Dominican-Republic based industrial conglomerate Grupo Estrella for an enterprise value of approximately US$200m. The divested assets include a 1.2Mt/yr capacity cement plant in Calzada Larga, Chilibre, along with related ready-mix, aggregates operations, and rights to acquire additional reserves. Cemex has increased its holdings to a majority stake in US-based Couch Aggregates, using a small portion of the Panama sale proceeds to offset the EBITDA impact from the divestment.

“These transactions are important building blocks in our strategy to rebalance our portfolio and continue investing in growth in priority markets,” said Jaime Muguiro, CEO of Cemex.

US: Peru-based UNACEM has appointed Rafael Villalona as the CEO of its operations in North America.

Previously, Villalona was the CEO of Cemex in the UAE from 2020. He worked for the cement producer in various roles from 2007 starting in the Dominican Republic. He became the Country Manager for Jamaica in 2011, Haiti in 2015 and the group’s Vice President Commercial & Logistics based in Egypt in 2019. He was also the chair of the Mexican Business Council in the UAE in 2024 and 2025. Villalona holds an undergraduate degree in civil engineering from the Ohio State University and a master’s degree in engineering from the University of Maryland.

Spain: Titan Group has appointed Juan Moreno as Investment and Business Development Manager. Moreno previously worked as a Venture Architect for Cemex Ventures from 2017 to 2025. Before this he was a consultant as the Boston Consulting Group. He holds a master’s degree in civil engineering from the Universidad Politécnica de Madrid and a master’s of business administration qualification from INSEAD.

Tanzania: Elsawy Ahmed has resigned as the manager of Twiga Cement’s Wazo Hill plant. He had been in post at the subsidiary of Heidelberg Materials since 2017. He is now working as a technical consultant.

Elsawy started his career as a Quality Control Supervisor for Assiut Cement in Egypt. He later worked for Cemex Egypt and became a plant manager for Cemex in Bangladesh in the early 2000s. He joined Italcementi in 2006 becoming Maintenance & Project Manager for subsidiary Suez Cement in the mid-2010s. Elsawy holds a degree in chemistry from Assiut University.

Spain: Cemex has appointed Oliver Chaddock as Trading Head for Europe, Middle East, Africa and Asia. He has worked for Cemex in trading roles since the late 2000s, becoming a planning analyst in 2008 and moving on to director-level trading roles from 2011. His last position was as Trading Director for Europe, Middle East and Africa. Chaddock holds an executive master of business administration (MBA) qualification from the IE Business School in Madrid.

Mexico: Cemex has reported a 5.3% year-on-year decrease in its sales to US$4.13bn for the second quarter of 2025 compared to the same period of 2024. Its operating earnings before interest, tax, depreciation and amortisation (EBITDA) also fell by 10.5% to US$823m.

The company attributed the declines to challenging demand conditions in Mexico and the US and a difficult comparison base in 2024. In Mexico, this related to strong infrastructure spending in 2024 prior to national elections. Cemex noted that higher local currency prices in key markets and strong volume performance in its Europe, Middle East, and Africa (EMEA) region partially mitigated the results. The EMEA region recorded its highest-ever first-half operating EBITDA.

The company’s reports stated “Our operations in Europe continue progressing on decarbonisation with net CO₂ emissions in the quarter reaching a new record low of 418kg/t cement equivalent. Demand conditions continue to improve in the Middle East and Africa with volumes expanding at double-digit rates, fuelled by housing, non-residential projects and large infrastructure works.”

Cemex’s sales in Mexico fell by 23% to US$1.06bn in the second quarter of 2025 compared to the US$1.38bn in 2024. Domestic grey cement, ready-mixed concrete and aggregates sales volumes contracted by 16%, 15% and 19% respectively. In the US, Cemex blamed the drop on high rain levels in various places and continued poor performance of the residential market. Due to this sales fell by 6% to US$1.3bn.