Cement News tagged under: Cyprus

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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)

Cyprus: change in VCW ownership structure

08 December 2015, Published under Cement News

The Archbishopric of Cyprus purchased 12.84m shares of Vassiliko Cement Works (VCW) from the Hellenic Mining public company at EUR1.20/share. The total value of shares bought adds up to EUR15.4m.
 The transaction resulted in a change over the voting rights of the participating companies. Hellenic Mining voting rights in Vassiliko Cements, a subsidiary of the Cyprus Cement Public Company (CCPC), were reduced down to zero from 17.85 per cent whereas the Archbishopric of Cyprus increased its v...

Cyprus: Vassiliko sees increase in exports

24 November 2015, Published under Cement News

Vassiliko Cement Works Public Co (VCWP), a subsidiary of Cyprus Cement Public Company (CCPC), has seen a recent increase in its exports to neighbouring countries and a reduction in its cost of production. However, the group realised a slight reduction in its profits compared to last year’s respective period. CCPC presented its interim management statement for the 1 July-20 November period. In its statement the company reaffirms that, as with any other company operating in Cyprus, the future...

Cement sales in Cyprus fall over first five months

12 June 2015, Published under Cement News

Cement sales in Cyprus fell 10 per cent from January to May compared to the same period a year ago to 170,684t, Cystat, the country’s statistical service, said. In May alone, there was a two per cent drop to 38,053t compared to the same month last year, Cystat said in a statement on its website. Cyprus’ prolonged economic recession has led to continuous declines in domestic cement demand since 2008 when consumption had reached 1.92Mt. In 2014 demand is expected to have fallen to 0.44Mt – s...

Cyprus Cement to examine restructuring plan

08 October 2012, Published under Cement News

The Board of Directors of Cyprus Cement Company Public Ltd announces that it will meet on Wednesday, October 17, 2012 to examine the restructuring plan of the existing corporate structure of the Group to create a more flexible group, reflecting the sectors in which it is actively involved.

Vassilikos workers to return to work on mediation proposal, Cyprus

20 March 2012, Published under Cement News

Employees at Vassilikos Cement Company will return to work today, following a meeting held yesterday at the labour ministry, according to Cyprus Mail reports. During the meeting, Labour Minister, Sotiroulla Charalambous put forward a mediation proposal concerning the renewal of their collective agreement. Vassilikos cement employees went on an indefinite strike on 1 March 2012 over their collective agreement, on grounds that it was not being observed. This resulted in construction work at ...