Displaying items by tag: Cemex Latam Holdings

Costa Rica: Cemex, has announced that its subsidiary, Cemex Latam Holdings, will invest US$35m over the next three years to increase the capacity of its plant in Colorado, Costa Rica. The news comes only a few days after the firm announced the resumption of a capacity upgrade at its Tepeaca plant in Mexico.

The project in Costa Rica will increase cement production capacity at the Colorado plant by about 25% and also includes construction of a new grinding mill. By 2017, the plant will have the capacity to produce 1.1Mt/yr of cement.

"We are confident that infrastructure projects will continue driving demand for building materials over the medium-term," said Alejandro Ramirez, director of Cemex Latam Holdings in Costa Rica.

Colombia: Cemex has announced that it will begin construction of a US$340m cement plant in Colombia. The first phase of the project includes construction of a new grinding mill that will begin to produce cement in the second quarter of 2015. The rest of the plant will be completed in the second half of 2016.

"We are proud to contribute to the development of Colombia and wish to continue to be a long-term partner on its path to a prosperous, sustainable future," said Cemex's CEO, Fernando Gonzalez. The investment by Cemex Latam Holdings is expected to boost production capacity in Colombia from 4.5Mt/yr to nearly 5.5Mt/yr.

The plant will be built in the north-western Colombian province of Antioquia, a region with high economic-growth levels. It is expected to create 1000 direct jobs in the construction phase and around 300 jobs once operations begin.

Latin America: Cemex Latam Holdings, Cemex's Latin American subsidiary, has reported net consolidated sales of US$864m during the first half of 2014, representing a year-on-year rise of 6%. Company earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell year-on-year by 8% during the first six months of 2014, reaching US$283m, due to scheduled maintenance works. EBITDA levels are expected to improve during the second half of 2014. Cemex Latam Holdings recorded net profits of US$121.2m in January - June 2014, 14% down on the same period in 2013.