Cement News tagged under: Chile

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Bío Bío to stop clinker production at Talcahuano

10 July 2017, Published under Cement News

Cementos 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 profits

31 May 2017, Published under Cement News

Chilean 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 stable

13 December 2016, Published under Cement News

According 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 ParexGroup

02 December 2016, Published under Cement News

Chilean 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 market

02 December 2016, Published under Cement News

This 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 9M2016

30 November 2016, Published under Cement News

Chilean 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 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's three largest cement producers sees 1H sales rise 3.7%

27 September 2016, Published under Cement News

Chile's top three cement companies - Cemento Melon, Cementos Polpaico and Cementos Bio Bio - recorded a 3.7 per cent YoY rise in sales to CLP339.82bn (USD510.48m) in the first six months of 2016. This represents the lowest growth rate in three years. Cementos Bio Bio's sales increased 6.6 per cent to CLP151.9bn as it was affected by the economic slowdown. Cementos Polpaico posted sales of CLP75.92bn, an advance of two per cent when compared with 1H15, on the back of better pricing as volum...

Cementos Bío-Bío 1H16 profits down 10%

02 September 2016, Published under Cement News

Chile’s Cementos Bío-Bío saw its profits during the first half of 2016 fall by 10.1 per cent to CLP9168.69m from CLP10,200.19m reported in 1H15. Revenues increased 6.6 per cent from CLP142,479.58m in 1H15 to CLP151,900m.