Paraguay’s INC registers 5M13 loss

Paraguay’s INC registers 5M13 loss
18 July 2013

State-owned Industria Nacional del Cemento of Paraguay noted a loss of PYG22.413bn (US$5m) in the first five months of 2013, indicating a rise on the previous year. In 2012, the company registered a full-year loss of PYG41.646bn, according to local news service ABC.

The 2012 loss is attributed to a combination of high sales and operational costs. Sales costs reached PYG343.676bn against a revenue of PYG392.626bn. The gross margin of nearly PYG49bn is offset by operational costs of PYG81.876bn and finance costs of PYG12.739bn

INC president, Carlos Krüssel, has pointed out the need for a capital injection into the company by either the state or private investors. The decision is down to Paraguay’s new government.

INC’s plant needs substantial investment with the conversion of the kiln from fuel oil to petcoke or coal as one of the key projects to be carried out. In addition, an upgrade of capacity from the current 2000tpd is also proposed.

Published under Cement News