Barbados to Enforce 60 Percent Cement Tariff

The Caribbean Court of Justice (CCJ) reinstated extra-regional tariffs on cement imports into Barbados, reported the Daily Nation. In an interim decision on July 17 by CCJ President Justice Adrian Saunders, the regional court ordered Barbados to “restore and enforce” a 60 percent import duty on hydraulic cements imported from outside the Caribbean Community (CARICOM).

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GCC Sales, EBITDA Up in Second Quarter

Grupo Cementos de Chihuahua, S.A.B. de C.V. announced its results for the second quarter of 2018. The company delivered growing sales and EBITDA as well as a higher EBITDA margin, with solid operating results in both the United States and Mexico. GCC also completed the acquisition of a cement plant in Montana, increasing its U.S. production capacity 11 percent; sold non-core, ready-mix assets; and refinanced its bank debt, reducing interest expense significantly. 

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Cemex Sets 30-Month Timetable for Asset Sales

In an upbeat second quarter earnings report, Cemex assured investors that asset prioritizing and debt reduction are top of mind. “With the objective of accelerating our path to investment grade and enhancing total shareholder return, we are announcing ‘A Stronger Cemex,’” said Chief Executive Fernando Gonzalez. “During the next 2.5 years, we will work to optimize our portfolio by focusing on markets with the greatest long-term growth potential and selling between $1.5 billion and $2 billion of assets.

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Ultracem Joins World Cement Association

The World Cement Association (WCA) announced it has further expanded its international network of members by welcoming the Colombia-based Ultracem as a corporate member. The association now has a membership made up of 69 members and representatives that cover 38 countries.

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