Cement News tagged under: Cementos Portland Valderrivas

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Further Spanish cuts ahead

19 September 2012, Published under Cement News

The Spanish cement sector is facing more job cuts and possible further restructuring measures as local cement consumption continues to tumble. Management of Cementos Lemona presented yesterday a job-cutting plan, which will affect 34 employees at the company's plant in the Basque country, according to trade union ELA. Local newspaper Expansion reported that the  measure is part of the viability plan of cement group Portland Valderrivas, which controls Cementos Lemona. The group is t...

Cementos Portland Valderivvas increases loss

27 July 2012, Published under Cement News

Spanish cement producer Cementos Portland Valderrivas reported a loss of EUR48.6m for the first half of 2012, versus a loss of EUR5m from a year earlier. The negative performance was explained with the depressed levels of domestic consumption. Portland Valderrivas has recently reached an agreement with the trade unions to cut 250 jobs. Abstracted from an original article in Expansion

Cementos Portland to cut 250 jobs, Spain

26 July 2012, Published under Cement News

Spanish cement producer Cementos Portland Valderrivas is to cut 250 jobs throughout its Spanish operations after the summer and will temporarily halt production of plants in the Catalonia region. Spanish press have reported that an agreement on these measures has been made between management and trade union members. Some 160 jobs will be cut through retirement plans for people aged 58 and above. Another 60 employees will occupy new positions while 30 can opt to move to relocate to othe...

Cementos Portland Valderrivas extends credit line, Spain

18 July 2012, Published under Cement News

Cementos Portland Valderrivas has reached an agreement with its creditors to extend by end-July the maturity of a EUR-340m credit line, due to expire yesterday. The company has intention to refund its debt standing at EUR1.4bn. (Source: Cinco Días)

Valderivvas presents restructuring plans to unions, Spain

11 July 2012, Published under Cement News

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 co...

CNC imposes EUR 1.28m fine on Cementos Portland, Spain

06 June 2012, Published under Cement News

Spanish competition authority CNC has imposed a EUR1.28m fine on cement producer Cementos Portland Valderrivas for submitting incomplete information. In May 2012, the CNC launched a probe into Cementos Portland over allegedly incorrect information about revenues, volume of products and corporate structure. Cementos Portland was obliged in January to pay a EUR5.72m fine for participating in a cartel fixing the prices of concrete. Abstracted from an original article in Expansion.

Spanish cement woes continue

28 May 2012, Published under Cement News

Spanish cement consumption continues its downward spiral with latest data showing monthly figures hitting a 46-year low as budget austerity and high unemployment continue to inhibit activity. Depressed volumes are now forcing local producers to initiate restructuring and cost-cutting measures as the bottom of the decline is yet to be seen. Following the spectacular burst of the Spanish housing bubble in 1998, the country's residential sector has faced high housing inventory levels and a l...

Cementos Portland Valderrivas forecasts profit upturn in 2013

22 May 2012, Published under Cement News

Cementos Portland Valderrivas of Spain expects to swing to profit in 2013 thanks to the Plan NewVal launched this year, new chairman and CEO, Juan Bejar, said on Friday. EBITDA are seen to reach EUR 200m next year. Plan NewVal 2012-2013 is focused on costs reduction and new sources of revenue. Abstracted from an original article in Cinco Dias.

Cementos Portland to ask permission for capital hike, Spain

17 April 2012, Published under Cement News

Spanish cement producer Cementos Portland Valderrivas will request its shareholders permission to launch a capital increase over the next five years. With the move, the company is seeking to reinforce its balance sheet in case it fails to wrap up the sale of US unit Giant. The company's shareholders will hold a general meeting on May 18. Abstracted from an original article in Cinco Dias

FCC to delay Giant Cement sale, USA

26 March 2012, Published under Cement News

FCC is to delay the planned sale of its US-based Giant Cement Holding division while the Spanish construction major focuses on debt refinancing of Cements Portland Valderivvas, Dow Jones reports. FCC owns nearly 70 per cent of Cements Portland, which in turn owns Giant Cement. FCC had previously said it planned to sell Giant by the end of the first quarter but has now changed the timeline, FCC chairman and CEO Baldomero Falcones Jacquotot told Dow Jones in an interview, stating that FCC i...