Valderivvas presents restructuring plans to unions, Spain

Spanish cement producer Cementos Portland Valderrivas has presented its restructuring plan to trade unions which involves the part-closure of one plant.

The company announced that it plans to close its plant in Vallcarca for 10 months annually, reduce the number of employees and managers and halt kiln lines.

Cementos Portland said that the estimated operating cost reductions with this plan equal the same savings that would be generated via the closure of three of its eight plants.

The company forecasts EBITDA of EUR200m and swing to profit in 2013.

Abstracted from an original article in Cinco Dias