Cement News tagged under: Spain
Cemex Espana adjusts downsizing plan27 November 2012, Published under Cement NewsCemex Espana is to adjust its downsizing plan for its domestic operations from the initial 370 planned job buts to 280. The 25 per cent reduction came as a result of an agreement reached between the company's management and trade unions. The employees to be affected by the staff-reduction measure account for 16 per cent of all 1740 in Spain at present. The laid-off employees will receive severance pays of 30 days per every year of work but not more than 22 monthly salaries. The staff ad... |
Expansion: FCC profit falls 77% YoY in 9 months13 November 2012, Published under Cement NewsSpanish construction and services group FCC received a net profit of €40.1m for January-September 2012, falling 77.5% on the year. Analysts polled by Reuters expected a €80m profit for the same period. The weaker results came amid the contracted infrastructure business of FCC and lower cement demand in Spain. The group's sales abroad grew by 6.6% on the year to €4.689bn in the nine months to September 2012 but total sales went down by 3.7% to €8.227bn. |
FCC to provide loan to Cementos Portland by year-end, Spain12 November 2012, Published under Cement NewsSpanish builder FCC is expected to extend a EUR100m (US$127.3m) loan to its cement subsidiary Cementos Portland by end-December, according to reports in local paper Expansion. The credit is in line with the terms of the EUR1.274bn debt refinancing deal signed between Cementos Portland and its creditor banks in July. FCC decided to grant the loan after Cementos Portland said it would suspend the envisaged EUR100m capital hike, required by the debt refunding agreement. However, at the pres... |
Cementos Portland posts EUR83m loss for Jan-Sep 201209 November 2012, Published under Cement NewsCementos Portland of Spain has posted a loss of EUR83m for the first nine months of 2012, almost 10-times the loss posted in the same period of last year, local press have reported. The steep decline is attributed to weaker demand from its domestic market of Spain which could not be offset by activity in USA and Tunisia where the company also operates.. |
Cementos Molins posts EUR31m profit, up 85%31 October 2012, Published under Cement NewsSpain’s Cementos Molins has posted a profit of EUR31.16m in the first nine months of the year. The 85 per cent rise has been attributed to successful foreign business, which continues to offset the decline in Spanish sales. The company’s operations in Spain have seen profits decline on the back of a 16 per cent drop in domestic sales as Spanish cement demand continues to post further lows. The drastic falls in consumption have seen cement demand plunge to a level not seen since the 1960s.... |
Cemex Spain lay off 370 workers as cement consumption plummets29 October 2012, Published under Cement NewsCemex Spain has lodged an employment regulation (ERE) for 370 workers, 21.2% of the 1740 employees that the Mexican multinational has in the country. The company justifies this measure of 'Horizon Plan' by the collapse in demand for cement in Spain, which "is putting at serious risk the future of this industry." Other measures include reducing eight factories to three to produce cement. So, it keeps its integrated production at the plants of Morata de Jalon (Zaragoza), Lloseta (Baleare... |
Cemex Spain mulling job cuts24 October 2012, Published under Cement NewsCemex’s Spanish subsidiary is considering cutting 350 and 400 jobs, a trade union official told Reuters on Tuesday. The official, who had informal talks with Cemex on the issue, said around one-fifth of the jobs could be cut out of a total of 1740 in the country. "We can anticipate that the steps will be pretty strong. There will be contracts being ended and about one-third of cement workers will be laid off," said José Luis López from the Comisiones Obreras (CCOO) trade union. |
Spain's cement consumption fall accelerates19 October 2012, Published under Cement NewsThe latest cement sales figures coming out of Spain offer little, if any, hope for the country’s cement producers that business may be picking up. While in August, a 34 per cent drop in sales was noted, September registered a worse contraction. Consumption barely made 1Mt, thus recording a 38 per cent decrease MoM to 1.047Mt. Cement factories noted a 27 per cent fall in output to 1.272Mt in September. For the year to date, national cement consumption fell by 34.6 per cent to 10.61Mt in ... |
FCC gives cement unit EUR100m loan12 October 2012, Published under Cement NewsSpanish builder FCC said on Thursday it has given its Cementos Portland unit a EUR100m (US$129m) transitory loan as part of the cement arm's refinancing agreement with its creditors. Separately, Cementos Portland said it may consider following through with capital hike plans in 2013 if market conditions are suitable (Source: Reuters) |
Cementos Portland acquires new unloading equipment, UK08 October 2012, Published under Cement NewsCementos Portland Valderrivas has invested EUR1m in a new unloader to speed up bulk discharges from ships in the port of Ipswich terminal, one of two that the group has in the United Kingdom. The mobile road shipunloader was supplied by the Dutch company Van Aalst and has the ability to discharge ships of up to 5000t at a nominal rate of 225tph. According to Juan Béjar, president of Cementos Portland Valderrivas, " conditions in the unloading will be further improved, which until now w... |