Cement News tagged under: Spain
Cementos Portland to refinance EUR817m debt, reports 9M15 results12 November 2015, Published under Cement NewsCementos Portland is currently analysing “various alternatives” to refinance EUR817m of debt, 59 per cent of its total liabilities, which expires in 2016. "The debt refinancing of the syndicated loan that matures in 2016 is ongoing and the company works in different scenarios with FCC in a coordinated way," said the cement maker on the occasion of the presentation of its quarterly results. Cementos Portland’s debt restructuring process runs in parallel with the plan of FCC to repay EUR45... |
Spain: Cementos Molins 9M net profit rises 38%06 November 2015, Published under Cement NewsSpain's Cementos Molins registered a net profit of EUR41.9m in the first nine months of the year, up 37.6 per cent YoY, according to the company. Total sales reached EUR473m, an increase of nearly 22 per cent YoY while operating profit reached EUR19.07m, advancing 1.9 per cent when compared with a year ago. The “negative result” for Spain was more than offset by its operations abroad, which contributed EUR51m. While Cementos noted improved results in the 3Q15 due to a pick-up in the d... |
LafargeHolcim reportedly plans to launch downsizing plan in Spain29 October 2015, Published under Cement NewsLafargeHolcim plans to launch a downsizing plan for 15 per cent of its workforce in Spain, according to local press reports. The launch of the downsizing plan was attributed to the difficulties that the company faces in Spain, due to the low cement demand in the country and the overlapping of workforces following the merger of Lafarge and Holcim, market sources said. LafargeHolcim currently has a workforce of 1000 employees in Spain and its annual revenues in the country amount to EUR300... |
Spain: monthly demand up but slowdown noted23 October 2015, Published under Cement NewsSpain’s cement consumption in the first nine months of 2015 increased by 4.8 per cent, but the growth rate decelerated in the past three months, according to Oficemen, the country’s cement association. At the end of June 2015, the market expanded by 8.6 per cent. The slowdown in growth has been attributed to a drop in public works. While September demand posted an increase of 3.1 per cent to 982,379t, the CEO of Oficemen, Aniceto Zaragoza expressed his concern: "We are witnessing with gre... |
Cementos Portland Valderrivas appoints new directors09 October 2015, Published under Cement NewsCementos Portland Valderrivas (CPV), part of Spain’s FCC, has appointed Carlos Manuel Jarque, current CEO of FCC, and Juan Rodriguez Torres, FCC adviser and newly-appointed non-executive chairman of the Realia real estate co, as directors of CPV. Both men are linked to Mexican magnate Carlos Slim, who acquired a 25.6 per cent majority stake in FCC last year. This places him ahead of Esther Koplowitz, who controls a 22.4 per cent stake. The appointments are the latest step in an ongoing pro... |
Cementos Molins to enter Colombian market01 October 2015, Published under Cement NewsCementos Molins has signed an agreement to enter the Colombian cement market with local home and construction specialist Corona. The Spanish cement producer plans to build a EUR335m cement works in Antioquia. The plant will have a capacity of 1.35Mta and is scheduled to come online in mid-2018. The production facility will provide 220 direct and 250 indirect jobs during operation and an average of 800 jobs during the construction phase, according to local press reports. |
Spain: cement demand up 5.6% YoY 8M1522 September 2015, Published under Cement NewsSpain’s cement consumption increased 5.6 per cent YoY to 7,397,362t in the first eight months of 2015, according to Oficemen, the country’s cement association. However, this pitches growth just below 1H15 expansion, when demand increased by 8.6 per cent. The small difference has been attributed to a two per cent YoY drop in July and August when compared with 2014. In July consumption contracted by 5.3 per cent to 1,063,274t, the first time since September 2014. The indicator registered 2.2... |
Spanish consumption rises 8.6% in 1H1517 July 2015, Published under Cement NewsCement consumption in Spain reached 5.6Mt in the first half of 2015, reflecting an 8.6 per cent increase YoY, according to the latest data from cement association Oficemen. In June demand increased 7.5 per cent YoY. By the end of this year, the domestic market is forecast to grow 10 per cent to 11.8Mt, according to Oficemen. However, despite the positive data, the cement association’s president, Isidro Miranda, and director general, Aniceto Zaragoza, have called the expansion “insufficien... |
Cementos Portland in EUR200m capital increase24 June 2015, Published under Cement NewsThe shareholders of Spain's Cementos Portland have approved a EUR200m increase in the Spanish cement producer’s capital to strengthen its balance and reduce its debt. Cements Portland will issue new shares at EUR6.5 each to help alleviate its EUR1.3bn debt while it works on “different alternatives” and wrote down EUR100m last February. |
Spain: domestic cement market growth slows to 5%16 June 2015, Published under Cement NewsThe Spanish cement market saw its growth decelerate from 13 per cent in April to 5.4 per cent in May 2015, with 1,023,326t shipped to domestic customers, according to the latest data released by cement association Oficemen. In the year to date, consumption increased 8.7 per cent to 4,537,502t. |