Cement News tagged under: Cyprus

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Vassiliko Cement sees 9% increase in total income

29 August 2019, Published under Cement News

Cyprus’ Vassiliko Cement has seen an 8.9 per cent YoY increase in total income to EUR53.99 for the first six months of 2019, compared with EUR49.6m in the year-ago period. Profit after tax advanced 13.5 per cent to EUR10.1m from EUR8.9m in the 1H18. The company expects to exceed the previous year’s total income of EUR97.9m in the full-year period.

Vassiliko Cement reports rise in domestic sales for 2018

11 June 2019, Published under Cement News

Cyprus-based Vassiliko Cement has reported a 17 per cent rise in cement sales to the domestic market in 2018. However, total income fell 4.4 per cent YoY to EUR97.9m from EUR102.4m. The company has attributed the result to a decline in cement exports, alongside a rise in the cost of energy and CO 2 emission allowances. Cyprus’ construction industry contracted between 2008-15. However, the last four years have seen a steady upward trend. In 2018 the company noted that cement sales reached ...

Cyprus sets 24% reduction goal in greenhouse emissions by 2030

25 January 2019, Published under Cement News

The government of Cyprus has approved a draft National Plan for Energy and Climate to see a reduction of 24 per cent of greenhouse gases in the country by 2030, compared to levels emitted in 2005. However, this total excludes emissions from cement, electricity and pottery sectors. This compares to the EU's greenhouse emissions target of 40 per cent reduction by 2030. Currently the industrial sector only accounts for eight per cent of Cyprus' emissions. Vassiliko Cement is the only cement pl...

Vassiliko Cement enlisted to dispose of waste tyres

19 October 2018, Published under Cement News

Vassiliko Cement has received 1800t of old tyres from the Dali industrial area of Cyprus in an attempt by the Ministry of Agriculture to safely manage the amount of waste tyres being stored in an environmentally-friendly way. Vassiliko Cement is a licensed management facility for disposal of waste tyres. Following the successful completion of this first phase, the ministry added, the transportation and management of tyre waste stored in a quarry site in Agios Sozomenos will soon begin. Th...

Vassiliko Cement in talks to take SRF/RDF waste

23 April 2018, Published under Cement News

The Water Development Department (WDD) in Cyprus is in talks with Vassiliko Cement Works to use byproducts generated at the municipal waste treatment plant at Pentakomo as alternative fuels as an alternative to landfill. The government would have to pay Vassiliko to take in the SRF/RDF sludge, reported the Cyprus Mail. Vassiliko has requested additional sample analyses of the byproduct to determine whether the RDF/SRF mix suits its needs. The WDD said that it might be possible for the P...

N+P extend SRF supply order with Vassiliko Cement

22 September 2017, Published under Cement News

N+P has agreed an extended solid recovered fuel (SRF) supply agreement with Vassiliko Cement Works and its subsidiary Enerco Energy Recovery. The contract will now run until 31 December 2020, with an option to further extend this cooperation to 31 December 2022. Since 2015 N+P has delivered SRF from the UK and Italy in sea containers and bulk vessels to Vassiliko Cement Works Public Company Ltd in Cyprus. The Vassiliko Cement Works uses SRF as secondary fuel to replace fossil fuels, s...

Vassiliko posts 5% 1H net profit rise

11 September 2017, Published under Cement News

Cyprus-based Vassiliko Cement Works plc generated a net profit of EUR12.7m (US$15.3m) in the first half of 2017, representing a five per cent rise YoY from EUR12.1m in 1H16. Total revenue rose from EUR49m in 1H16 to EUR52.8m in 1H17, the company said in a statement on the Cyprus Stock Exchange. Cost of sales rose to EUR35.1m, from EUR30.4m, and distribution costs fell to EUR2.4m, from EUR2.7m. As a result, operating profit before the cost of finance dropped to EUR13.3m, from EUR14m. ...

Cement sales in Cyprus rise 15% in May

09 June 2016, Published under Cement News

The sale of cement on the domestic market rose 15 per cent in May to 43,887t compared to the respective month of 2015 after rising 40 per cent in April, the statistical service said. In January to May, total sales of cement on the domestic market, which reflects construction activity, rose 33 per cent to 170,684t, Cystat said in a statement on its website.

Vassiliko Cement expects "significant" improvement in 2015 financial results

23 February 2016, Published under Cement News

Vassiliko Cement Works Public Co said it expects to show a "significant" improvement in financial results in 2015 compared to the year before. "The upward trend of the first nine months of 2015 continued in the last quarter, the results of which are expected to be even higher," Cyprus' sole cement producer said in a statement.

Vice chairman of Vassiliko Cement resigns

15 December 2015, Published under Cement News

The executive vice chairman of Vassiliko Cement Works (VCW), Maurizio Caneppele, resigned last week, according to an official announcement. He was appointed executive vice chairman of the board of Vassiliko Cement Works on June 2013. The announcement did not mention the reasons behind Mr Caneppele’s resignation or any other details. (Source: In-Cyprus)