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.
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.
