Cement News tagged under: Cementos Portland Valderrivas
Cemtech's 25th Anniversary Conference & Exhibition02 November 2016, Published under Cement NewsCement professionals from over 40 nations gathered at The Westin Palace, Madrid, to celebrate Cemtech’s 25th Anniversary on 18-21 September. Following major events staged in Dubai and Manila earlier this year, this final celebration marked another successful year of growth for the industry’s leading independent cement conference. Delegates settle down to the first morning presentations in the conference hall Cemtech conferences now span the globe, with annual events in Europe, M... |
USA: Elementia intends to buy 55% of Giant Cement14 October 2016, Published under Cement NewsElementia of Mexico, 49 per cent owned by billionaire Carlos Slim, said it had signed a letter of intent to purchase 55 per cent of Giant Cement Holdings Inc, a wholly-owned unit of Cementos Portland Valderrivas of Spain. Currently, Giant has an accumulated debt of approximately EUR437m in a securitised bond issue, says dirigentesdigital. At the same time, Cementos Portland has signed a loan of EUR553m to repay part of its debt, amounting to EUR1114m according to the Spanish source. Ceme... |
Spain: FCC refinances Portland Valderrivas debt14 July 2016, Published under Cement NewsIn the restructuring of the group, Spain’s FCC plans to refinance the syndicated debt of Cementos Portland Valderrivas (CPV), in which it owns a 77.9 per cent stake. Funds from FCC’s capital increase will be used to write of EUR325m of EUR823m of the total amount. CPV will then refinance the outstanding EUR500m over a period of five years. The refinancing will also enable the Spanish cement producer to obtain a reduction in interest rate from 4.5 per cent (Euribor) to 3.5 per cent. Key cr... |
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... |
Spain: Cementos Portland Valderrivas 1H loss increases04 August 2015, Published under Cement NewsCementos Portland Valderrivas has seen 1H losses of EUR39.9m, 28.9 per cent higher than in 1H14, when it recorded a loss of EUR31m. The result is attributed to the lower sales of CO2 emission rights, which reached EUR10.6m, and a change in the way the cost of maintenance stoppages is accounted for (EUR3.2m). Turnover has increased 11.3 per cent to EUR289.2m thanks to increases in sales volumes and prices in Spain, USA and the UK, which account for over 75 per cent of total sales. Howe... |
Cementos Portland names non-executive president, Spain21 May 2015, Published under Cement NewsSpanish cement maker Cementos Portland has appointed Alicia Alcocer Koplowitz as a non-executive president, the company said in a filing with stock market regulator CNMV. Alicia Alcocer Koplowitz is the daughter of Esther Koplowitz, the owner of Cementos Portland, and has been a vice president of the board of directors of the group so far. Her appointment was unanimously approved by the board of directors of Cementos Portland during its meeting on Monday. Alicia Alcocer Koplowitz will repl... |
Spain: Cementos Portland reports EUR29.5m loss16 April 2015, Published under Cement NewsFCC-owned Cementos Portland closed the first quarter of 2015 with a EUR29.5m loss, representing a 21.2 per cent higher figure when compared with 1Q14. The cement company attributes the fall to lower CO2 sales and new accounting rules relating to annual maintenance costs. Taking into account these effects, results improve by EUR7m. Revenues increased 9.4 per cent to EUR121.8m as the company maintained stable cement sales of 1.6Mt. However, concrete deliveries were down 43 per cent to 66M... |
Spain: Portland Valderrivas reduces full-year loss27 February 2015, Published under Cement NewsCementos Portland Valderrivas reported a EUR52.3m loss in 2014, around 27.3 per cent less than the previous year. The company attributed the improved result to the recovery of the Spanish economy which was reflected in a rise in public tenders, boosting in turn cement consumption. Cementos Portland Valderrivas reported a net operating profit of EUR35.9m, against a net operating loss of EUR24.2m the previous year. Revenues increased 0.4 per cent to EUR542.9m as the company divested from n... |
FCC to transfer rescue funds to Portland Valderrivas17 September 2014, Published under Cement NewsSpanish builder Fomento de Construcciones & Contratas SA (FCC) is to help its cement unit Cementos Portland Valderrivas make a debt payment by transferring rescue funds, according to reports by Bloomberg citing sources familiar with the matter. FCC has reportedly received approval to creditors to transfer some EUR20m to Cementos Portland, which owes lenders EUR50m on 30 September, the sources said. Meeting the payment deadline this month will buy the Spanish cement producer more time to re... |
Indebted CPV outlines debt refinancing plan, Spain08 September 2014, Published under Cement NewsCementos Portland Valderrivas (CPV), the leading cement producer in Spain with operations in North America and Tunisia, has released a statement outlining its plans to refinance a total of EUR969m debt, according to a report in Estrategia de Inversion (Spain). In the short term, the company is struggling to keep on top of maturing debt and was forced to release a statement confirming that it had received "unanimous agreement of all creditors to extend the maturity of EUR50m maturing on 30 J... |