Displaying items by tag: Mexico

Mexico: Elementia recorded standalone net sales of US$363m in the first quarter of 2021, up by 18% year-on-year from US$309m in the first quarter of 2020. The group’s Mexican cement sales rose by 25% to US$74.9m from US$60.0m. Its US cement sales rose by 6% to US$58.9m from US$55.8m and its Central American sales rose by 18% to US$6.13m from US$5.19m. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 52% to US$51.2m from US$33.6m. In early March 2021 the group announced that it was starting a spin-off process to form a new company from its metals and building systems businesses as part of an ongoing corporate strategic reorganisation.

Mexico: Cemex has reported that its sales in the first quarter of 2021 came to US$3.41bn, a 9% rise year-on-year compared to the first quarter of 2020. Its earnings before interest, tax, depreciation and amortisation (EBITDA) improved by 28% to US$684m due to a boost in cement sales volumes and higher prices. Its net income for the first quarter was US$665m.

Cemex’s net sales in Mexico increased by 19% to US$822m, while operating cash flow increased 27% to US$299m. Its US operations reported net sales of US$1.0bn, an increase of 5% compared to the same period in 2020. Its operating cash flow in the US increased by 21% to US$196m.

In the group’s Europe, Middle East, Africa and Asia region, sales grew by 2% reaching US$1.09bn, while EBITDA was US$113m, 3% higher year-on-year. In Central, South America and the Caribbean, Cemex’s net sales came to US$424m, an increase of 15% compared to the same period in 2020.

Commenting on the results, Cemex’s chief executive officer Fernando González Olivieri said, "We achieved some important objectives and made significant progress towards our Operation Resilience goals, despite the persistent challenges that Covid has caused in many markets. The performance during the first quarter convinces me that we must be entering a period of sustainable growth for our main markets and it is likely that we will achieve two of our Operation Resilience goals well in advance of the 2023.

Mexico: GCC recorded consolidated net sales of US$179m in the first quarter of 2021, down by 2% year-on-year. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 9% to US$49.5m. In Mexico cement sales volumes rose by 6% but in the US they fell by 7.7% due to poor oil well cement sales.

The company’s chief executive officer Enrique Escalante said, "GCC started 2021 with strong financial performance - increasing EBITDA, free cash flow and EBITDA margin. Our results reflect momentum in the industry and show early signs that we are entering into a new phase of the industry's cycle with a stronger demand for most of our products. Therefore, we will focus our efforts in producing cement to supply pent-up demand." Escalante continued "Our backlog and the overall market trends of our business are encouraging in the US and Mexico. Both countries are emerging from tough and uncertain times into brighter months ahead. Our focus continues on maximising production, improving plant reliability, and optimising our logistics network to take advantage of the pent-up demand we are experiencing."

Mexico: Holcim Mexico, part of Switzerland-based LafargeHolcim, has launched the new EcoEtiquetas label. The label designates products conforming to a set of ecological criteria set by the company. These include a certain level of recycled content or a reduced carbon footprint, as specified by the label on each product. The label is now found on Holcim Apasco, Maestro and Supra Cemento cement bags. These products say they offer CO₂ reductions from 30 – 60% compared to Ordinary Portland Cement.

Chief executive officer Jaime Hill Tinoco said, “This is one more step on our way to becoming a Net Zero Company, but also when our clients buy our cements with EcoEtiquetas, they will have the certainty that they are collaborating in the care of the environment by using or distributing products that have been thought not only in terms of quality and performance, but also in ensuring a better world for present and future generations.”

Mexico: Cemex has joined a partnership for the development of OpenBuilt, a digital platform aimed at connecting supply chains for the construction industry. The initiative is intended to increase the safety and sustainability of construction practices. Companies using the system will be able to securely connect their current technology and digital platforms to partners, suppliers or subcontractors in their supply chain via a single integration hub. The platform will be developed on the Red Hat OpenShift hybrid cloud platform and run on the IBM Cloud.

Chief executive officer Fernando Gonzalez said "OpenBuilt is a strategic initiative that will help integrate the construction value chain by increasing productivity, innovation, and collaboration." He added "We are constantly seeking to provide a superior experience to our customers through the innovative use of digital technologies."

Central America: Imports from Vietnam accounted for 30% of total cement imports to Central America in the first nine months of 2020. The country accounted for no significant share of cement imports to the region as recently as 2016. Central America Data has reported that Turkey supplied 18% of regional cement imports in the first nine months of 2020. Mexico supplied 8% and Barbados 4%.

Mexico: Cemex has hosted Mujer Construrama, a conference and workshop series hosted by female leaders in construction. 320 participants attended the event. The group said that it reinforced its commitment to gender equality, as a signatory of the UN Women and UN Global Compact’s Women’s Empowerment Principles, promoting equality in the workplace, marketplace, and the community. It added that women’s empowerment benefits individuals and society, allowing for economic and social improvement and healthy competition. Construrama is the largest retail building materials distribution network in Mexico, with 2100 stores. Women lead approximately 30% of the stores.

Australia: Calix has reported the completion of a pre-front-end engineering and design (FEED) study of its Leilac-2 carbon capture and storage (CCS) study. Germany-based HeidelbergCement, Mexico-based Cemex and Portugal-based Cimpor assessed the study. The milestone clears the technology for industrial scale implementation at HeidelbergCement’s Hannover integrated cement plant in Germany. The installation aims to capture 100,000t/yr of CO₂ at an installation cost of Euro23m (+/-30%). The final investment decision will follow after the completion of FEED in early 2022.

Mexico: Shareholders of the former Grupo Cementos de Chihuahua have approved a name change at an exceptional general meeting. The company will now trade as GCC.

Chief financial officer Luis Arias said, "We changed the name to GCC to better reflect our 2025 vision: to be the best cement company in North America with the proper balance of people, profit and the planet. It unifies our brand in multiple countries, mirrors the stock ticker and reflects how the market best knows us." He continued, "I wish to thank our shareholders for supporting and approving our new corporate name; we are now an organisation with a new name and renewed vision."

Mexico: Cemex has presented a comprehensive analysis of it strategic vision, operational performance, corporate governance and value creation in 2020 in its integrated report for the year. During the year, the group developed and implemented over 50 new hygiene and safety protocols against the Covid-19 outbreak, achieved zero fatalities and lost-time injuries across 96% of its operations and led remote operations with its Cemex Go digital platform, which accounted for 61% of global sales in 2020. Cemex announced its Climate Action strategy in February 2020, defining a global target of a 35% reduction of CO2 emissions per tonne of cementitious product by 2030. It also established an ambition to deliver net-zero CO2 concrete to all its customers globally by 2050.

At 31 December 2020 it had already achieved a 35% emissions reduction across its European operations and became the first cement producer to set a 55% reduction target in line with the European Commission’s new goal for member states. The group co-processed 2.7Mt of waste for use as alternative fuel (AF) across 91% of its cement plants, replacing 1.6Mt of coal at a substitution rate of 25%. The producer classified 29% of its cement business’ power consumption as ‘clean,’ with 100% renewable power supply across cement, concrete, and aggregates operations in Poland and the UK. The year also saw the global introduction of Vertua low carbon and net-zero CO2 products. Vertua Ultra Zero is the first net-zero CO2 concrete.

Cemex continues to operate under its Operation Resilience medium-term plan. The plan aims to promote growth, sustainability, and financial resilience. The company has amended its bank debt under its facilities agreement, which incorporates green metrics, and strengthened its social impact strategy to reinforce community initiatives. Group activities positively impacted more than 23 million people on an accumulated basis, contributing to the achievement of the UN Sustainable Development Goals, according to the producer.

Chief executive officer Fernando Gonzalez said, “2020 was undoubtedly a very challenging year, with Covid-19 abruptly upending every aspect of our lives and disrupting every industry worldwide.” He added, “Sustainability remains one of our top priorities, and our Climate Action strategy makes us confident in our ability to achieve our targets and aspirations.”