Cement News tagged under: Cemento Polpaico

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Cemento Polpaico reports CLP2.1bn loss in 2018

28 January 2019, Published under Cement News

Chilean cement producer Cemento Polpaico, in which the Hurtado Vicuña family holds the controlling stake, has reported net losses of CLP2.139bn (US$3.2m) in 2018, exacerbating net losses of CLP1.043bn m noted the previous year. The company revenues increased 23.1 per cent YoY to CLP166.549bn in 2018 from CLP135.326bn in 2017. However, while gross profits increased 29.9 per cent to CLP55.23bn, “Other profits/losses” noted a loss of CLP9.869bn. In addition, the company also faced relatively h...

Cemento Polpaico sees CLP4bn net profit in 1H18

03 September 2018, Published under Cement News

Chilean cement producer Cemento Polpaico reported a 32.2 per cent increase in revenues to CLP82.114bn (US$120,143m) in 1H18 from CLP62.118bn. The company has attributed the higher operating revenues mainly to an increase in cement and concrete sales volumes, driven by an uptick in economic activity during the first six months of 2018, compared with 1H17. However, distribution costs went up from CLP13.3bn to CLP17.7bn as a new law of manual handling loads affected working practices. ...

Cemento Polpaico slips into loss

06 March 2018, Published under Cement News

Chile’s Cemento Polpaico informed the country’s Financial Markets Commission (CMF) it registered losses of CLP1.042bn (US$1.74m) in 2017. The new income figure is a sharp reversal of the profit of CLP3.793bn reported in 2016. Sales reached CLP135.316bn in 2017, down 3.5 per cent YoY, when compared with sales of CLP140.187bn in 2016.

Cemento Polpaico sees CLP-2.28bn loss in 9M17

28 November 2017, Published under Cement News

Chile’s Cemento Polpaico has reported a loss of CLP-2.281bn (US$3.58m) in the January-September 2017 period. This compares with a profit of CLP4.1534bn in the year-ago period. In terms of revenues, the company reported a figure of CLP96.337bn, down 11.4 per cent when compared with CLP108.67bn  in 9M16.

Polpaico appoints Marcos Büchi as new President

16 August 2017, Published under Cement News

Marcos Büchi has been appointed as company president by Chile-based Cemento Polpaico as a result of the restructuring of its management. Javier Moreno is the cement producer’s general manager. This follows a successful acquisition by the Hurtado Vicuña family’s Inversiones Caburga, which acquired a 54.3 per cent stake from LafargeHolcim in the last quarter of 2016.

Cemento Polpaico net profits quadruple YoY in 9M16

22 November 2016, Published under Cement News

Chile’s Cemento Polpaico saw its revenues decrease by 1.14 per cent to CLP108,669.55m in January-September 2016 from CLP 108,927.811m. However, net profits during the first nine months of 2016 more than quadrupled from CLP816.866m in 9M2015 to CLP4153.866m when compared with the 9M16. The company noted a significant fall in finance costs as well as higher financial revenues.

LafargeHolcim exits Chile as it sells Cemento Polpaico

10 October 2016, Published under Cement News

LafargeHolcim will sell its majority stake in Chile's Cemento Polpaico to investment firm Inversiones Caburga Ltda, whose interests include the Chilean ready-mix market through Cementos Bicentenario.  Caburga, owned by the Hurtado Vicuna Group, agreed to buy the 54.3 per cent stake, which represents around CHF220m (US$225m), via a public tender offer, according to LafargeHolcim. Cemento Polpaico operates one integrated cement works and two grinding units with a total cement capacity o...

Chile: Cemento Polpaico's photovoltaic park gets environmental green light

09 December 2015, Published under Cement News

Chile's environmental authorities have approved a plan of local cement maker Cemento Polpaico SA  for the construction of a 23.5-MW photovoltaic (PV) park as part of the central system SIC. The approval, published on Friday, envisages the installation of 243,120 modules near Cemento Polpaico's Cerro Blanco industrial plant in Tiltil, Chacabuco province. The solar facility will require an initial investment of US$42m (EUR 38.9m) and its energy will be injected into the grid through the exist...

Chile: Cemento Polpaico to pay US$14.6m in back-taxes

03 September 2015, Published under Cement News

Cemento Polpaico reported that the Chilean tax office (SII) has ordered the cement producer to pay U$14.6m in back-taxes for the years 2012 and 2013. Liquidations have led to US$7.2m outstanding with the country’s revenue authorities, with adjustments, interest and fines by SII increasing the amount payable to US$14.6m. Polpaico indicated that it believes the adjustments are unfounded and incorrect and is expected to complain to the relevant tax authorities.

Chile: Cemento Polpaico to invest in solar power project

21 May 2014, Published under Cement News

Cemento Polpaico plans to invest US$42m in a 20MW solar power project, to be installed next to its plant in Tiltil municipality, Chile. The park will help diversify Chile's energy mix and will supply renewable energy to the central power network SIC, through the Punta Peuco substation, according to the environmental impact declaration. The company estimates it could start construction works this year. Polpaico, which is 54 per cent owned by Holcim, is Chile’s second-largest cement p...