Cement News tagged under: Cementos Portland

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Unacem buys Cementos Portland for US$28m

15 October 2018, Published under Cement News

Peru-based Unacem has acquired Cementos Portland for US$28m from Cementos Bío Bío and Votorantim. Unacem, which operates 8.3Mta of production capacity at two plants at Atocongo and Condorcocha, informed the Superintendency of the Stock Market (SMV) that on 10 October, it had carried out "a transfer of 100 per cent of the shares representing the capital stock of Cementos Portland for the total price of US$28,095,802".

Cementos Bío Bío sells Peruvian subsidiary

11 October 2018, Published under Cement News

Chile’s Cementos Bío Bío has sold its Peruvian subsidiary, Cementos Portland, in a transaction valued close to US$14m, according to La Tercera. The departure means that it will no longer be participating in a project with Brazil’s Votorantim Cimentos to construct a plant in Lima, which has reportedly faced a number of difficulties concerning market rivals. A further two projects that the company had planned in Peru, one concerning cement and the other lime, will remain unfulfilled after th...

Votorantim gets cold feet in Chile

01 December 2017, Published under Cement News

This week saw a change in the stakeholder share in Chilean producer Cementos Bio Bio with Brazil-based Votorantim selling 13.1 per cent of the shares in the company to the Briones family. The divestment leaves Votorantim with an approximately 3.6 per cent stake in the Chilean cement producer, while the Briones family sees its interest increase to 39.52 per cent. The move signals that Votorantim is looking to extract itself from a market that no longer appears attractive to the Brazilian ma...

Spain: Cementos Portland improves loss

27 July 2016, Published under Cement News

Cementos Portland reported a loss of nearly EUR36.8m (US$40.5m) in the first half of 2016, a 7.9 per cent YoY improvement when compared with the EUR39.9m loss in 1H15. EBITDA improved 23 per cent to EUR46m. Revenues fell by 1.8 per cent due mainly to a decrease in sales volumes in Spain and Tunisia, which contracted by 2.3 and 5.5 per cent, respectively in the first half of the year. The USA delivered relief as the market expanded by 10.2 per cent by the close of April. In addition, expor...

Spain: Cementos Portland restructures debt

11 May 2016, Published under Cement News

The refinancing of the EUR825m syndicated loan of cement producer Portland Valderrivas, a Fomento de Construcciones y Contratas (FCC) company, has been completed, reports Spacol. FCC, the Spanish civil engineering group and main shareholder in Portland, with an 80 per cent stake, offered a 10 per cent trimming to the loan, which matures in July 2016, but the offer was rejected by creditors. More than 50 per cent of the debt of Portland is now in hands of vulture funds, such as Apollo, Dav...

Cementos Portland reports EUR29.6m loss in 1Q16

04 May 2016, Published under Cement News

Spain’s Cementos Portland reported a loss of EUR29.6m (US$34m) in the first quarter of 2016, 0.4 per cent less than in 1Q15 due to a recovery in sales and savings in energy costs, the company informed the stock exchange commission CNMV. Sales during the three-month period reached EUR129.8m, up 6.6 per cent thanks to improved performance in the USA, Tunisia and export markets. Volumes rose 12.4 per cent to 1.7Mt as exports from Spain increased, the US saw growth and Tunisia noted “a small ...

Cementos Portland to refinance EUR817m debt, reports 9M15 results

12 November 2015, Published under Cement News

Cementos Portland is currently analysing “various alternatives” to refinance EUR817m of debt, 59 per cent of its total liabilities, which expires in 2016. "The debt refinancing of the syndicated loan that matures in 2016 is ongoing and the company works in different scenarios with FCC in a coordinated way," said the cement maker on the occasion of the presentation of its quarterly results. Cementos Portland’s  debt restructuring process runs in parallel with the plan of FCC to repay EUR45...

Cementos Portland in EUR200m capital increase

24 June 2015, Published under Cement News

The shareholders of Spain's Cementos Portland have approved a EUR200m increase in the Spanish cement producer’s capital to strengthen its balance and reduce its debt. Cements Portland will issue new shares at EUR6.5 each to help alleviate its EUR1.3bn debt while it works on “different alternatives” and wrote down EUR100m last February.

Cementos Portland reports EUR45.3m net loss in 9M14

24 October 2014, Published under Cement News

Spain's Cementos Portland has reported a EUR45.3m net loss in 9M14, a 92.1 per cent increase when compared with the loss noted in 9M13. Turnover fell by 1.6 per cent YoY to EUR406.6m as non-profitable plants were closed, but cement sales were up by five per cent. EBITDA rose 95 per cent to EUR82.6m, fuelled by efficiency measures implemented in Spain and the US, the deregulation of the cement industry in Tunisia, sustained growth in the US and improved emission rights sales in Spain.

Cementos Portland renegotiates debt agreement

16 July 2014, Published under Cement News

Spain's Cementos Portland has renegotiated its EUR1.114bn debt with its bank, according to the FCC subsidiary. It is the company's second refinancing in two years after the last agreement in July 2012. In the latest agreement, the company will postpone the payment of EUR50m of liabilities which expired on 30 June to 30 September. The payment follows the 2012 agreement to refinance a syndicated loan. Some 85.32 per cent of its debtors have agreed to sign the agreement – more than the tw...