Cement News tagged under: Spain
Cementos Portland Valderrivas extends credit line, Spain18 July 2012, Published under Cement NewsCementos Portland Valderrivas has reached an agreement with its creditors to extend by end-July the maturity of a EUR-340m credit line, due to expire yesterday. The company has intention to refund its debt standing at EUR1.4bn. (Source: Cinco Días) |
Spanish cement consumption drops 34.7% in 1H1213 July 2012, Published under Cement NewsCement consumption in Spain plunged 34.7 per cent YoY to 7.2Mt in the first-half of 2012, latest data from the domestic cement association Oficemen showed and the outlook for the remainder of the year is not any more promising. For the full year, Oficemen expects consumption to decline by 25% to around 15Mt, representing a 73 per cent fall of highs reached in 2007 (56Mt). The industry could witness per capita consumption of 325kg – levels not seen in the country since 1964 and even more ... |
Valderivvas presents restructuring plans to unions, Spain11 July 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas has presented its restructuring plan to trade unions which involves the part-closure of one plant. The company announced that it plans to close its plant in Vallcarca for 10 months annually, reduce the number of employees and managers and halt kiln lines. Cementos Portland said that the estimated operating cost reductions with this plan equal the same savings that would be generated via the closure of three of its eight plants. The co... |
Brazil competition authority approves Camargo purchase of Cimpor05 July 2012, Published under Cement NewsBrazil’s competition authority CADE has approved Camargo Correa’s purchase of a controlling stake in Portuguese cement producer Cimpor, subject to several conditions. The main condition set by the regulator is that Votorantim, Camargo’s competitor on the Brazilian market, sells its stake in Cimpor. Votorantim and Camargo Correa both bought shares in Cimpor in 2010. Through their shareholdings in Cimpor, both Camargo Correa and Votorantim increased their share of Brazil's market. Cade als... |
European construction outlook revised25 June 2012, Published under Cement NewsThe increasing perception that Greece will default and exit the eurozone together with rising fears of contagion has led Euroconstruct, a group of research institutes and consulting firms, to significantly downgrade its European construction forecasts for this year and next. At a meeting held last week, the group said Europe's construction forecasts for this year and next have been downgraded from -0.3% to -2.1% in 2012 and from +1.8% to +0.4% in 2013. Looking further ahead, it highlights... |
Lebanon demand falls, brighter times anticipated22 June 2012, Published under Cement NewsDespite a slowdown in current market activity, a bright future lies ahead for Lebanon’s cement industry, according to the chief of one the country's leading producers. Speaking, to The Daily Star, Pierre Doumet, CEO of Cimenterie National, admitted that domestic consumption has been falling as well as demand from export markets due to regional instability and eurozone economic concerns. “We expect the demand on the local market to recede by at least 15 per cent,” he said, noting that e... |
Eurozone April construction output falls21 June 2012, Published under Cement NewsConstruction output in the 17 nations that use the euro dropped 2.7 per cent in April compared to the month before, and five per cent from April 2011, the European Union's official statistics agency Eurostat said Tuesday. Eurostat also lowered its estimate for the growth of construction output in March, to 11.4 per cent from 12.4 per cent. The decline in construction during April was widespread across the currency area, with building work down six per cent in Germany, 2.3 per cent in Spain... |
Spanish May cement consumption falls 37.2%20 June 2012, Published under Cement NewsSpanish cement consumption in May plunged 37.2 per cent over the same month last year to 1.26Mt, data from the domestic cement association, Oficemen shows. For the first five months of 2012, demand has dropped 34.6 per cent to almost 6Mt. The average daily consumption in May stood at 57,594t, a third of the total consumed in 2008 at the beginning of the crisis, Oficemen stressed. It further added that the current figures being witnessed in the local market continue to be similar to those ... |
CNC imposes EUR 1.28m fine on Cementos Portland, Spain06 June 2012, Published under Cement NewsSpanish competition authority CNC has imposed a EUR1.28m fine on cement producer Cementos Portland Valderrivas for submitting incomplete information. In May 2012, the CNC launched a probe into Cementos Portland over allegedly incorrect information about revenues, volume of products and corporate structure. Cementos Portland was obliged in January to pay a EUR5.72m fine for participating in a cartel fixing the prices of concrete. Abstracted from an original article in Expansion. |
Cementos Molins to cut investments in 2012, Spain01 June 2012, Published under Cement NewsSpanish cement company Cementos Molins will cut its investments in 2012 to EUR80m from EUR120m. With the move, the firm is trying to reduce its debt, standing at almost EUR400m at end-2011. On June 14 Cementos Molins will pay a dividend of EUR 0.01 apiece. Abstracted from an original article in Expansion. |