Cement News tagged under: Ecuador

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US$125m CAF loan signed for Guayaquil project

03 December 2014, Published under Cement News

Holcim Ecuador SA has signed a loan contract for US$125m with the Latin American development bank, CAF. The funds will finance the modernisation of Holcim’s Guayaquil plant. The upgrade programme will see clinker production capacity rise to 3.4Mta, enabling to replace current clinker imports by domestic production and reduce the country’s currency outflow. In addition, some 20 per cent of the investment will be directed to environmental technology to improve the plant’s environmental re...

UNACEM completes Ecuador acquisition

03 December 2014, Published under Cement News

Peruvian cement producer Union Andina de Cementos SAA (UNACEM) confirmed that it has completed the purchase of Lafarge’s cement operations in Ecuador. "We are pleased with the closing of the transaction, which represents an important step in our growth strategy,” Carlos Ugás, managing director of Unacem. The company closed the acquisition, initially announced in May this year, for approximately US$517m, according to local press reports. The deal involves the purchase of a 1.4Mta cement w...

Ecuador monthly sales up 4.61%

21 November 2014, Published under Cement News

Ecuador cement sales during October 2014 reached 602,748t, up 4.61 per cent compared to the previous month. Accumulated sales over the first 10 months of this year were 5.381Mt, according to the latest data from domestic cement association INECYC.

Unacem plans to invest US$58m in 2015

09 September 2014, Published under Cement News

Peru's Unacem intends to invest US$58m in its Atocongo and Condorcocho works next year. The projects focus on the development of the Carpapata III hydropower plant, the cement mill and packing area (Condorcocha) as well as  capacity expansions and other investments in fixed assets. This year, investments in its subsidiaries total US$545m as it signed a deal with Lafarge to acquire the latter's Ecuadorian cement subsidiary in June. Lafarge sales in the country are expected to reach US$190m....

LH Merger: LatAm, Asia, Africa

07 July 2014, Published under Cement News

The Lafarge Holcim merger is being viewed as a good geographical fit in emerging markets given Lafarge’s strong presence in the Middle East and Africa, and Holcim’s significant exposure to Latin America and the Asia-Pacific region. However, regional overlaps in certain key markets are likely lead to the expected disposal of assets. Latin America Moves to address anti-trust concerns already appear to be underway with Lafarge last month confirming the sale of its cement operations in Ec...

Lafarge

02 July 2014, Published under Cement News

Lafarge has agreed the sale of Lafarge Cementos in Ecuador to Union Andina de Cemento of Peru for US$553m. The completion date for the sale of this 1.4Mta works has yet to be agreed. This deal follows the sale of the Honduran cement operations to Cementos Argos at around the turn of the year. Lafarge Zimbabwe is looking for a suitable site on which to build a cement works costing US$250m-300m. One limestone deposit has been identified to date and other opportunities are being looked into....

Lafarge sells Ecuador operations

28 May 2014, Published under Cement News

Lafarge announced the sale of its cement operations in Ecuador for an enterprise value of US$553m to Union Andina de Cementos SAA (UNACEM). Lafarge Cementos SA operates an integrated cement plant of 1.4Mt of capacity, located in Otavalo, in the North of the country.   This divestment will contribute to Lafarge's objective to reduce net debt below EUR9bn in 2014, the group said. Ecuador was one of the countries where the proposed ‘LafargeHolcim’ combination was expected to see considerable...

Ecuador monthly sales see marginal YoY gains

26 May 2014, Published under Cement News

Ecuador cement sales during January-April 2014 period reached 2.047, just 0.8 per cent ahead on the 2.030Mt sold in the comparative period of last year, latest data from domestic cement and concrete institute INECYC shows. April 2014 sales totalled 524,903t down 3.8 per cent from the same period of last year when dispatches reached 545,440t. However, sales were higher than those recorded in March 2014 (497,600t), representing a 5.5 per cent MoM increase.

Ecuador 1Q14 sales ahead

21 April 2014, Published under Cement News

Ecuador cement sales during January-March 2014 period reached 1.522Mt, a 2.5 per cent increase compared to 1.485Mt sold in the first quarter of last year, latest data from domesic cement and concrete institute INECYC shows. March 2014 sales totalled 497,601t, down 0.4 per cent from the same period of last year when dispatches reached 499,743t. Sales were also down when compared to February 2014 (511,795t), representing a 2.8 per cent MoM decline.

Ecuador’s monthly sales return to growth

21 March 2014, Published under Cement News

Ecuador cement sales in February rose by 14.3 per cent YoY to 511,794t, latest data from domestic association INECYC reveal.   For the first two months of 2014, sales advanced by four per cent to 1.024Mt.   The February advance follows a 4.6 per cent YoY decline in January sales, the association’s statistics show.