Spanish cement sales plummet as housing bubble bursts

Spanish cement sales plummet as housing bubble bursts
Published: 11 July 2008

Cement sales in Spain, where a decade-long housing and construction boom has come to an end, fell 16 per cent in the first half of the year, the association of cement producers said Thursday.
 
"At the end of June, volume was down 16 per cent down" over the same period last year, to 24.34Mt, said the head of the associatiom, Jean Martin-Saint-Leon.
 
"We will finish the year between 15 and 18 per cent down," he told a news conference.
 
"We are in a rather difficult situation, with volumes at a level that we have not seen for years," said Martin-Saint-Leon, who is also head in Spain of Lafarge.