Displaying items by tag: Mexico
Mexican government may declare Vulcan Materials’ Sac Tun quarry a Protected Natural Area
23 October 2023Mexico: The government says that if US-based Vulcan Materials continues to reject offers for land in Quintana Roo on which its Calica-Sac-Tun quarry is situated, then it will designate the land Protected Natural Area status. Reuters has reported that the government has previously offered US$328 – 383m for the property. Vulcan Materials has mounted on-going legal challenges worth US$1.9bn against the Mexican government over the previous closure of its operations.
Fives FCB to supply FCB Horomill 3800 grinding mill for Cementos Moctezuma’s Morelos cement plant
20 October 2023Mexico: Cementos Moctezuma has awarded a contract to France-based Fives FCB to supply an FCB Horomill 3800 grinding mill for its Morelos cement plant in Tepetzingo. The supplier says that the mill offers a lower power consumption than any competing product in the market. The latest mill will be the 15th Fives FCB mill at a Cementos Moctezuma cement plant in Mexico. Fives FCB says that its mills had accumulated 1.5m hours of operation across three different sites at the end of 2022.
Cemex issues sustainability-linked bonds worth US$331m
04 October 2023Mexico: Cemex debuted on the sustainability-linked bonds market with an issuance of US$331m on 3 October 2023. The group said that it will use the funds to fully or partly amortise the outstanding balance of its debt instruments.
Cemex is committed to achieving net zero CO2 emissions by 2050.
Cemex to buy mortars and adhesives manufacturer Kiesel
28 September 2023Germany: Mexico-based Cemex has agreed to buy Kiesel, a manufacturer of mortars and adhesives, for an undisclosed sum. The deal is intended to grow Cemex’s Urbanization Solution business through bolt-on acquisitions. The acquisition will be subject to conditions including regulatory approval. The transaction is expected to be competed from the fourth quarter of 2023.
Sergio Menéndez, president of Cemex Europe, Middle East, Africa & Asia said “This acquisition will enhance our Urbanization Solutions business and allow us to serve our customers better.” He continued, “We remain committed to increasing our capacity to serve growing urban markets with more sustainable and innovative solutions.”
Kiesel was originally founded in 1959 and serves markets in Germany, France, Poland and the Czech Republic. Its portfolio includes a range of products to ensure efficient installation of all types of floors or wall coverings, as well as mortars for the installation of ceramic and natural stone tiles.
Cemex seeks to refinance US$3bn bank debt
22 September 2023Mexico: Cemex says that it has entered negotiations with banks with a view to refinancing its US$3bn credit line. Bloomberg has reported that it previously financed the line in late 2021.
Cemex’s chief financial officer Maher Al-Haffar said that an anticipated 100% extension ‘will probably transform our maturity structure quite nicely.’
Mexico: Holcim Mexico says that its supply of cement to the government’s Tren Maya railway project is 170,000t/month. This corresponds to 50 – 60% of its total production volumes. Local press has reported that construction of the 1500km-long Tren Maya railway will consume 1Mm3 of concrete. Holcim supplied its cement for Sections 1 – 3 of the line between 2020 and 2022. It is currently supplying Section 5, which is 50% complete. The cement comes from the company’s Orizaba, Veracruz, plant; its Macuspana, Tabasco, plant and its Mérida, Yucatán, plant.
Holcim Mexico’s infrastructure development manager Fernando Roldan said "Our participation has been a challenge, but the relationship we have with the suppliers and with the construction companies in charge of the railway has allowed us to meet the requirements."
CYCNA de Oriente commissions paper bag plant in Palmar de Bravo
15 September 2023Mexico: Cooperativa La Cruz Azul subsidiary CYCNA de Oriente has commissioned a 518,000 bag/day paper bag plant next to its 1.1Mt/yr cement plant in Palmar de Bravo, Puebla.
The Reto Diario newspaper has reported that Cooperativa La Cruz Azul chair Victor Manuel Velázquez said that the paper bag plant will help to maximise the group’s impact in the local community.
Cemex considering selling business in the Dominican Republic
04 September 2023Dominican Republic: Cemex is considering selling its subsidiary Cemex Dominicana according to Bloomberg. The Mexico-based group is reportedly working with JPMorgan Chase & Co on a potential divestment worth over US$1bn. Proceedings are at an early stage, with Cemex starting to talk to interested parties to assess potential interest.
Cemex has been operating in the Dominican Republic since 1995 when it acquired Cementos Nacionales. It runs the integrated 2.4Mt/yr San Pedro de Macorís cement plant. It also has ten concrete plants, three sea terminals, two aggregate quarries and a gypsum mine. It employs 1500 people directly. Cemex sold its subsidiaries in Costa Rica and El Salvador to Cementos Progreso for US$329m in 2022.
Mexico: Construction activity grew by 29% year-on-year during the first half of 2023. Local press has reported that this is its sharpest increase since reporting began in 2006. Major infrastructure projects reportedly drove the growth. These include the Mayan Train, Isthmus Train and Mexico-Toluca Interurban Train railway projects and the Olmeca oil refinery project.
As a result, Cemex and GCCs’ share prices have been the fastest and seventh fastest growing respectively on the main index of the Mexican Stock Exchange.
Cemex Mexico exceeds Mexico’s 2030 alternative fuel target
24 August 2023Mexico: Cemex Mexico subsitituted 36% of it cement fuel with alternative fuel (AF) in 2022. This exceeds the Mexican cement industry’s target for 2030, of 32%. Mexico Business News has reported that the producer used 1.05Mt of AF across its operations. This reduced its CO2 emissions by 1.8Mt, and prevented 850,000t of methane emissions from being generated in landfill. Cemex Mexico’s Huichapan cement plant in Hidalgo set the company record for the year, with 207,000t of AF co-processed in its cement production. It produced 3.2Mt of cement for the Bajio, Central, Central-North, Laguna and Southeast Mexico markets.
Sustainability Manager Carlos Medina said "Last year’s results motivate us to intensify our efforts and uphold good practices that benefit communities and the environment. We will keep promoting environmentally friendly solutions in all our operations, as we are convinced that all social actors must collaborate to lay the foundations for a better future."