Spanish consumption fall in Spain seen to affect Cimpor
The share performance of Cimpor is expected to suffer from the recently estimated fall in the cement consumption in Spain, according to forecasts of Portugal’s investment bank BPI on December 14, 2007.
A day before, Spanish daily La Razon said that the country’s cement association foresees a six per cent annual decline in the consumption of cement on the domestic market in 2008. "This is a negative news for Cimpor," BPI pointed out adding that the projected fall relates to the slowdown in the real estate sector in Spain.
However, La Razon underlined that the decrease will not be equal in all regions of the country. The cement demand in northern Spain, for example, is expected to go up in 2008, according to data presented by the daily.
Cimpor sells its production mainly in Spain’s southern Andalusia and in the northern part of the country.
Published under Cement News
