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Cemex selects CASE Construction Equipment for new loader fleet in Europe

12 November 2021

Europe: US-based CASE Construction Equipment has won a contract to supply Cemex with a new fleet of backhoe and wheel loaders for its building solutions operations in the Czech Republic, France, Germany, Poland, Spain and the UK.

Europe regional mobile equipment fleet and category manager Craig Hooper said “As one of the world’s largest building solutions providers, Cemex is committed to leading on the path to a low carbon economy and is closely evaluating all areas of its business to make efficiency improvements. The vehicles we use as part of our work are a key part of this and we are pleased to have agreed this contract with CASE for these vehicles, which will provide a significant sustainability benefit to Cemex’s European operations. They incorporate advanced technology alongside lower fuel consumption due to an improved power to weight ratio. We look forward to working with CASE to explore other opportunities to enhance the eco-credentials of our fleet.”

Published in Global Cement News
Tagged under
  • Europe
  • Germany
  • France
  • Poland
  • UK
  • Czech Republic
  • Spain
  • Cemex
  • CASE Construction Equipment
  • vehicle
  • construction
  • Contract
  • Deal
  • Supplier
  • equipment
  • GCW532

Votorantim Cimentos to acquire FYM’s Southern Spain business

11 November 2021

Spain: FYM has agreed to sell its Southern Spain business to Brazil-based Votorantim Cimentos. The assets consist of the 1.6Mt/yr Málaga cement plant and 11 ready-mixed concrete plants and aggregates assets in Andalusia. Parent company HeidelbergCement said that the divestments accord with it Beyond 2020 strategic vision. FYM retains its Northern Spain cluster in the Basque Country, Cantabria, La Rioja and Navarra, which it operates under the Cementos Rezola brand.

Published in Global Cement News
Tagged under
  • HeidelbergCement
  • FYM
  • Cementos Rezola
  • Acquisition
  • Divestments
  • readymixed concrete
  • Strategy
  • Aggregates
  • Spain
  • Votorantim Cimentos
  • Votorantim Cimentos España
  • GCW532

Titan Cement increases sales and profit as earnings drop in first nine months of 2021

11 November 2021

Greece: Titan Cement has recorded sales of Euro1.26bn in the first nine months of 2021, up by 5% year-on-year from Euro1.2bn in the first nine months of 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 4.3% to Euro220m from Euro229m, while its net profit rose by 41% to Euro81.9m from Euro58m.

During the third quarter of 2021, Titan Cement’s US low-carbon cement sales reached 50% of its total US cement sales. It also continued with hydrogen enrichment pilot studies in its cement kilns in Bulgaria and Greece.

Published in Global Cement News
Tagged under
  • Titan Cement
  • Titan America
  • Results
  • Bulgaria
  • Greece
  • US
  • hydrogen
  • Fuel
  • Alternative Fuels
  • pilot
  • Study
  • Trial
  • low carbon cement
  • GCW532

Eagle Cement increases nine-month sales, earnings and profit in 2021

11 November 2021

Philippines: Eagle Cement recorded consolidated sales of US$324m in the first nine months of 2021, up by 63% year-on-year. The company said that its cement volumes recorded double-digit growth during the period. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) were US$134m, up by 59% from US$83.9m. Its net profit meanwhile rose by 89% to US$102m from US$53.9m.

The company also announced that it has completed its expansion of its 7.1Mt/yr Bulacan cement plant in Luzon. The newly commissioned plant now boasts a fifth grinding mill, a third packing facility and a fifth cement silo, along with new supporting facilities.

Published in Global Cement News
Tagged under
  • Philippines
  • Eagle Cement
  • Results
  • Expansion
  • Upgrade
  • Plant
  • Grinding mill
  • Packing plant
  • Silo
  • GCW532

Cemex secures US$3.25bn credit agreement

11 November 2021

Mexico: Cemex has successfully closed a US$3.25bn syndicated credit agreement. The group said that it used the proceeds to repay its previous US$2.65bn facilities agreement. The new agreement will require repayment in November 2026. As the facility is worth 23% more than its previous one, the company said that it will have a stronger liquidity position than previously, resulting in a favourable company risk and credit rating situation.

CEO Fernando Gonzalez said "This new credit agreement represents a major milestone in our path to investment grade as it is our first major syndicated unsecured bank agreement since 2009. It showcases Cemex’s continued access to diversified funding sources while further aligning our financing strategy to our leadership in addressing climate change.” He added “We are starting a new chapter for the company where we shift our strategic balance a bit more towards growth and the advancement of our Climate Action goals.”

Published in Global Cement News
Tagged under
  • Cemex
  • Finance
  • Mexico
  • Loan
  • Strategy
  • growth
  • Sustainability
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