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Despite predictions that the global recession is beginning to slowly right itself, many cement companies are still experiencing tough financial situations. Many large producers have posted losses in the 2009 fourth quarter, but are holding high hopes for increased business throughout 2010. French-based company Lafarge posted a loss of $51.76 million dollars (38 million Euros) after earning [...] CEMEX announced on Tuesday that it had made significant progress in restructuring of its debt. It has managed to move the maturities of about 14.5 billion in dept out from the 2009-2011 time frame out to 2014. The move helps substantially secure the company’s short term financial stability. Texas Industries is under [...] Yesterday, while Lafarge was announcing a 750 million Euro bond issue to solidify its short term dept, Holcim was suprrising many in the industry by announcing an acquisition of Cemex assets in Austrialia for a significant 1.6 billion dollars. Analysts characterized the deal as “too good to pass up” for Holcim. Still, in the current business [...] |
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