Mexico: Cemex says that it has made progress towards reducing its debts in 2016. So far it has announced divestments of close to US$2bn, it has reduced its total debt plus perpetual securities by more than US$2bn and says it is on target to reach its leverage ratio target of about 4.25 times by the end of the year. Cemex is also on track to reach its debt reduction target of US$3 - 3.5bn by the end of 2017.
“Despite challenging market conditions, working on the variables we can control has allowed us to be well on our way to significantly strengthen our capital structure, and we expect to continue to be able to do so in the near future,” said Fernando A Gonzalez, chief executive officer of Cemex.