Cement News tagged under: peru
Peru: Cementos Pacasymayo announces phosphate spin-off launch date31 January 2017, Published under Cement NewsCementos Pacasmayo SAA and subsidiaries, has provided shareholders with an update regarding the status of its spin-off of phosphate project company called FOSSAL, SAA. Pacasmayo's CEO and the CEO of FOSSAL SAA established that 1 March 2017 was the effective day of the launch of FOSSAL SAA. This is subject to registration by the Peruvian Public Registry and compliance with the Securities Market regulations. |
Asocem: “Cement consumption will recover in 2017”23 January 2017, Published under Cement NewsPeruvian cement association Asocem expects cement consumption in Peru to grow between 3-5 per cent in 2017 as private investment recovers and public works are carried out. “For 2017 the scenario is positive, due to infrastructure works estimated to total US$20bn and US$40bn in 2018. We will recover the space that we have had after two years of decreases,” said Carlos Ferraro, executive director of Asocem. He added that the recovery of the cement market depends particularly on the unlock... |
Peru's sees 3.4% market contraction in 201617 January 2017, Published under Cement NewsCement consumption in Peru fell 5.2 per cent to 836,000t in December 2016, according to Asocem, the country's cement association. Exports decreased 43.5 per cent to 27,000t from 47,000t in December 2015. Cement production in December reached 886,000t, representing a 4.8 per cent decline YoY. For full-year 2016, Asocem reported a 3.4 per cent market contraction from 9.978Mt in 2015 to 9.643Mt. However, Peruvian cement producers found some solace in overseas markets and reported an 11.3... |
Peru’s cement market contracts more than 6% in November16 December 2016, Published under Cement NewsCement consumption in Peru continues to fall with domestic sales noting a 6.6 per cent YoY decline from 914,000t in November 2016 to 854,000t in November 2016, according to Asocem, the country’s cement association. Demand in the January-November 2016 period reached 10.029Mt, down three per cent YoY from 10.335Mt in 11M15. Production fell by 8.7 per cent YoY to 871,000t in November from 955,000t the previous year and noted a 2.6 per cent fall from 10.77Mt in 11M15 to 10.49Mt for the firs... |
Fitch: Latin America 2017 outlook stable13 December 2016, Published under Cement NewsAccording to a new Fitch Ratings report, the 2017 Latin American cement outlook for both ratings and the sector is stable. Associate Director at Fitch Ratings, Gilberto Gonzalez: “Issuers have built significant operations in the US, which should benefit from increased public and private spending… Housing starts should increase seven per cent to 1.26m, which should provide an additional boost.” For Argentina cement consumption is forecast grow in the mid-single digits, recovering some o... |
Peru: Unacem reports loss of US$1.15m in 3Q1631 October 2016, Published under Cement NewsThe company Union Andina de Cementos (Unacem), one of the two largest companies in the sector in Peru, reporteda loss of PEN3.9m (US$1.15m) in the third quarter due to lower sales due to a fall construction activity. This result compared to a profit of PEN24.7m for Unacem between July and September 2015. Unacem revenues in the 3Q16 amounted to PEN464.6m compared to PEN496.1m in the same period last year. From January to September, the cement company posted a profit of PEN354.5m compar... |
Peru: Cementos Pacasmayo 3Q16 net income falls 21.7%25 October 2016, Published under Cement NewsCementos Pacasmayo SA's consolidated results for the 3Q16 and nine months (9M16) ended 30 September 2016 recorded cement, concrete and concrete block volumes were down 1.6 per cent, largely due to extraordinary spending in regard to El Niño prevention in 3Q15, says Businesswire. Revenues rose 0.4 per cent to PEN314.2m (US$83.5m), while the consolidated EBITDA of PEN04.5m was up 4.9 per cent. Net income of PEN43.3m, down 21.7 per cent, due to the termination of borrowing cost capitalisatio... |
Peru's cement market shows minor decline in August20 September 2016, Published under Cement NewsIn August Peruvian cement demand reached 0.868Mt, representing 4.3 per cent decline YoY, according to Asocem, the country's cement association. To complement local output, around 43,000t of cement and 87,000t of clinker were imported. Domestic output reached 0.922Mt, the supply surplus being largely absorbed by exports, which reached 0.05Mt in the same month. In addition to 54,000t of cement passing through the country’s border controls - a YoY doubling of volumes, some 22,000t of clinke... |
Peru: Cementos Pacasmayo to split operations23 August 2016, Published under Cement NewsCementos Pacasmayo SAA and subsidiaries announced that its Board of Directors have approved the separation of its phosphate operations Fosfatos del Pacifico (FOSPAC) from its cement operations. Ownership of FOSPAC will be transferred to separate entity FOSSAL, which will hold 70 per cent ownership whilst 30 per cent remains with MCA Phosphates PTE, a division of Mitsubishi Corp. Chairman of FOSPAC, Roberto Dañino said, “FOSPAC is an attractive project, with substantial phosphate reserves ... |
Peru: Votorantim to buy assets of Cementos Orotongo22 August 2016, Published under Cement NewsVotorantim Cimentos has made an agreement with Concesur (Consorcio Cementero del Sur) to purchase the cement assets of Cementos Orotongo acquired by Votorantim in 2012 from Cimpor. The deal is worth US$4m and includes a project to set up a US$125m cement plant at La Joya with a capacity for 650,000tpa of cement and 1500tpd of clinker. This plant project was originally planned in 2011. Votorantim is also setting up a cement plant at Pachacamac, southern Lima, in alliance in Cementos Bio B... |