Cemex pauses production in Mexico as coronavirus response

Gonzalez

Editor’s Note: Cemex resumed operations in Mexico later in the same day this story was posted on Monday, April 6.

Cemex has temporarily halted operations in Mexico in effort to comply with the Mexican government’s response to the ongoing coronavirus (COVID-19) pandemic.

In accordance with a decree from the Health Ministry of Mexico, Cemex will pause all production and other related activities until April 30. According to Cemex, the company will maintain communication with the Mexican federal government and will be ready to resume operations when deemed appropriate.

“For Cemex, the health and safety of our employees, contractors, suppliers, customers and communities is a top priority,” says Fernando Gonzalez, CEO of Cemex. “As soon as the COVID-19 threat emerged, we activated our Rapid Response Teams to implement prevention measure in response to this unprecedented health crisis. I want to express our full support to the Mexican government and society during this difficult time. We are aware of the challenge we face, but I am confident that we will overcome this situation together.”

In addition, Cemex identified $200 million in cost-savings measures, which are expected to be fully realized in 2020, the company says.

According to Cemex, the company also is evaluating the delay of capital expenditures planned for this year. Cemex also withdrew $1.1 billion under its committed revolving facility and received about $500 million from divestments, according to the company.

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