Cemex Hikes Cement Prices By $25 Per Cubic Yard
Aug, 05 2008
(Houston, Texas) - Cemex SAB, the U.S.'s largest cement firm and subsidiary of Monterrey, Mexico-based Cemex, announced that it will raise concrete prices by $25 a cubic yard.
In a statement carried by Bloomberg, Cemex said the hike will replace fuel surcharges and is effective Oct. 1. Prices of fuel, steel and asphalt continue to soar compared with the falling prices for ready-mix concrete, the company said.
The price increase will enable Cemex to forego fuel surcharges from contracts.
Excluding Cemex's July 2007 purchase of Rinker Group Ltd. for $14.2 billion, the cement firm's ready-mix concrete sales in the U.S. went down 29 percent in the second quarter over the same period last year due to a residential housing slump, Bloomberg added.
Jupiter Kalambakal - AHN News Writer
International Finance Corporation, a member of the World Bank Group, is providing up to $70 million to Kenya's National Cement Company to increase the local supply of cement and promote infrastructure development in Africa More
Poor maintenance of a lift door led to a fatal accident at Kosmos Cement Co, a surface cement facility, owned and operated by Cemex, located in Louisville, Jefferson County, Kentucky