Cement News tagged under: Cementos Portland Valderrivas

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Cementos Portland Valderrivas appoints new directors

09 October 2015, Published under Cement News

Cementos Portland Valderrivas (CPV), part of Spain’s FCC, has appointed Carlos Manuel Jarque, current CEO of FCC, and Juan Rodriguez Torres, FCC adviser and newly-appointed non-executive chairman of the Realia real estate co, as directors of CPV. Both men are linked to Mexican magnate Carlos Slim, who acquired a 25.6 per cent majority stake in FCC last year. This places him ahead of Esther Koplowitz, who controls a 22.4 per cent stake. The appointments are the latest step in an ongoing pro...

Spain: Cementos Portland Valderrivas 1H loss increases

04 August 2015, Published under Cement News

Cementos Portland Valderrivas has seen 1H losses of EUR39.9m, 28.9 per cent higher than in 1H14, when it recorded a loss of EUR31m. The result is attributed to the lower sales of CO2 emission rights, which reached EUR10.6m, and a change in the way the cost of maintenance stoppages is accounted for (EUR3.2m). Turnover has increased 11.3 per cent to EUR289.2m thanks to increases in sales volumes and prices in Spain, USA and the UK, which account for over 75 per cent of total sales. Howe...

Cementos Portland names non-executive president, Spain

21 May 2015, Published under Cement News

Spanish cement maker Cementos Portland has appointed Alicia Alcocer Koplowitz as a non-executive president, the company said in a filing with stock market regulator CNMV. Alicia Alcocer Koplowitz is the daughter of Esther Koplowitz, the owner of Cementos Portland, and has been a vice president of the board of directors of the group so far. Her appointment was unanimously approved by the board of directors of Cementos Portland during its meeting on Monday. Alicia Alcocer Koplowitz will repl...

Spain: Cementos Portland reports EUR29.5m loss

16 April 2015, Published under Cement News

FCC-owned Cementos Portland closed the first quarter of 2015 with a EUR29.5m loss, representing a 21.2 per cent higher figure when compared with 1Q14. The cement company attributes the fall to lower CO2 sales and new accounting rules relating to annual maintenance costs. Taking into account these effects, results improve by EUR7m. Revenues increased 9.4 per cent to EUR121.8m as the company maintained stable cement sales of 1.6Mt. However, concrete deliveries were down 43 per cent to 66M...

Spain: Portland Valderrivas reduces full-year loss

27 February 2015, Published under Cement News

Cementos Portland Valderrivas reported a EUR52.3m loss in 2014, around 27.3 per cent less than the previous year. The company attributed the improved result to the recovery of the Spanish economy which was reflected in a rise in public tenders, boosting in turn cement consumption. Cementos Portland Valderrivas reported a net operating profit of EUR35.9m, against a net operating loss of EUR24.2m the previous year. Revenues increased 0.4 per cent to EUR542.9m as the company divested from n...

FCC to transfer rescue funds to Portland Valderrivas

17 September 2014, Published under Cement News

Spanish builder Fomento de Construcciones & Contratas SA (FCC) is to help its cement unit Cementos Portland Valderrivas make a debt payment by transferring rescue funds, according to reports by Bloomberg citing sources familiar with the matter. FCC has reportedly received approval to creditors to transfer some EUR20m to Cementos Portland, which owes lenders EUR50m on 30 September, the sources said. Meeting the payment deadline this month will buy the Spanish cement producer more time to re...

Indebted CPV outlines debt refinancing plan, Spain

08 September 2014, Published under Cement News

Cementos Portland Valderrivas (CPV), the leading cement producer in Spain with operations in North America and Tunisia, has released a statement outlining its plans to refinance a total of EUR969m debt, according to a report in Estrategia de Inversion (Spain). In the short term, the company is struggling to keep on top of maturing debt and was forced to release a statement confirming that it had received "unanimous agreement of all creditors to extend the maturity of EUR50m maturing on 30 J...

Cementos Portland sees improvements in Spain, Tunisia and USA

04 August 2014, Published under Cement News

Cementos Portland Valderrivas' turnover fell by 3.8 per cent to EUR259.9m in the six months to the end of June, reflecting the effects of non-profitable concrete, aggregate and mortar businesses in Spain being closed. Cement voulmes rose by more than five percent last year, of which international markets account for 63 per cent of sales, most notably in Tunisia and the US. While demand in the company's domestic market of Spain continues to decline, the group said results have improved...

Portland Valderrivas reduces losses

27 November 2013, Published under Cement News

Cementos Portland Valderrivas has cut losses in the first nine months of 2013 thanks by 74 per cent to EUR24.8m compared to EUR95.2m in the same period of last year, thanks to a series of cost control measures. Group revenues for the period amounted to EUR413m, of which Spain accounted for EUR168m. Operations in the US and Tunisia accounted for 60 per cent of group revenues and partly offset weak cement demand in Spain, which fell 22 per cent YoY to 8.3Mt over the Jan-Sept period. EBITDA in...

Cementos Portland Valderrivas reduces 1H losses, Spain

26 July 2013, Published under Cement News

Spain-based Cementos Portland Valderrivas (CPV) reduced losses by 98.9 per cent in 1H13, to EUR0.6m, compared with losses of EUR48.6m in the first half of the year before. CPV's asset swap with CRH earlier this year also provided capital gains of EUR104.8m. According to José Luis Sáenz de Miera, Chairman and CEO of Cementos Portland Valderrivas, results for the first half reflect "efforts last year to reduce costs in Spain, where demand continues to shrink, and to improve efficiency in ope...