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.
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Hanson’s 2021 sustainability report highlights the company’s 2030 commitments and the progress made during the 2020 calendar year, despite the unprecedented challenges brought about by COVID-19.
Holcim and Cemex have announced the completion of their series of transactions in Europe, which includes operations in western Germany, the Czech Republic and Spain.
Cemex and BirdLife, who formed a global biodiversity conservation partnership in 2007, held a ceremony endorsing the European Union’s Nature Conservation Policy.
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