Cement News tagged under: Chile
Cemento Polpaico sees CLP-2.28bn loss in 9M1728 November 2017, Published under Cement NewsChile’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. |
Key equipment for Fancesa line arrives at port19 October 2017, Published under Cement NewsSome 200 large components for the new production line of Bolivian cement producer Fábrica Nacional de Cemento (Fancesa) have arrived at the northern Chilean port of Iquique. From Iquique Terminal Internacional they will be transported to Cal Orcko, near Sucre, where the new 2100tpd line will be built. Commissioning is scheduled for mid-2019. FLSmidth was awarded the contract for the line on 27 July 2016. Equipment supply will include ATOX® 35.0 vertical mill for raw grinding, ROTAX-2® r... |
Polpaico appoints Marcos Büchi as new President16 August 2017, Published under Cement NewsMarcos 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. |
Bío Bío to stop clinker production at Talcahuano10 July 2017, Published under Cement NewsCementos Bío Bío announced it will cease to produce clinker at its Talcahuano plant in Chile and instead import clinker from Asia. The decision was taken following several attempts to improve profitability at the works and deliver a competitive product. The closure of the plant’s clinker production department is expected to lead to some 40 redundancies, according to Santiago-based news service Cambio 21. |
Cementos Bío Bío sees 42% drop in 1Q profits31 May 2017, Published under Cement NewsChilean cement producer Cementos Bío Bío reported a 41.6 per cent reduction in first-quarter revenues to CLP67.93m (US$100,704) from CLP76.84m in 1Q16, according its report to the Superintendency of Securities and Insurance (SVS). EBITDA fell from CLP30.03m in the first three months of 2016 to CLP26.05m in Jan-Mar 2017. Net profit nearly halved from CLP4.43m to CLP2.59m. |
Fitch: Latin America 2017 outlook stable13 December 2016, Published under Cement NewsAccording to a new Fitch Ratings report, the 2017 Latin American cement outlook for both ratings and the sector is stable. Associate Director at Fitch Ratings, Gilberto Gonzalez: “Issuers have built significant operations in the US, which should benefit from increased public and private spending… Housing starts should increase seven per cent to 1.26m, which should provide an additional boost.” For Argentina cement consumption is forecast grow in the mid-single digits, recovering some o... |
Chile: Melon SA divests mortar unit to ParexGroup02 December 2016, Published under Cement NewsChilean cement and construction materials producer Melon SA has agreed to sell its local mortar company Melon Morteros SA to ParexGroup, a French provider of specialty dry-mix solutions for the construction industry. The mortar unit is being sold for CLP4bn (US$6m), according to a filing with Chile’s securities and insurance regulator (SVS). ParexGroup will implement the transaction through its local subsidiaries, Parex Klaukol. SA and Parex Chile Ltd. |
Chile's changing market02 December 2016, Published under Cement NewsThis week Cementos Bio Bio announced its 9M16 profits had been hard hit by foreign exchange rates and a similar story was given by Cemento Polpaico, even though it quadrupled its new profits YoY. But beyond these recent results, the industry is embarking on a period of significant transition. Chile's cement market recorded its lowest sales growth in 1H16, reaching US$514bn as Cementos Melon, Polpaico and Bio Bio clawed in sales that were up just 3.7 per cent on the same period in 2015. ... |
Chile: Cementos Bío-Bío sees 8.6% profit slip in 9M201630 November 2016, Published under Cement NewsChilean cement producer Cementos Bío-Bío reported a 3.3 per cent rise in profits to CLP221.5bn (US$329m) in the January-September 2016 period from CLP214.5bn in 10M15. However, a rise in the cost of sales and financing as well as a foreign exchange loss saw the company with sharply reduced profits. Net profits reached CLP13.847m in the 10-month period, down 8.6 per cent when compared with CLP15.156m with the first 10 months of 2015. |
Cemento Polpaico net profits quadruple YoY in 9M1622 November 2016, Published under Cement NewsChile’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. |