According to Reuters, shares in Cemex dropped by more than 8% on 20 January, punished by a record low peso exchange rate that increases its debt load.
Cemex is hampered by a heavy dollar-denominated debt load from its 2007 purchase of Australian building products company Rinker, and has been focusing on reducing debt in a bid to regain an investment-grade rating by 2018.
The peso hit a record low on 20 Janury, reaching 18.6 pesos to the dollar.
Over the coming weeks, World Cement will be hosting a series of technical webinar presentations from KHD! Each presentation will be led by industry experts and provide a detailed discussion of KHD’s product offerings to the cement industry.