Cement News tagged under: Loma Negra

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Loma Negra sees net profit advance 35% in 2019

11 March 2020, Published under Cement News

Argentina’s Loma Negra has reported a 5.5 per cent YoY decline in revenue to ARS38.95bn (US$660m) for the full-year 2019 period, compared with ARS41.24bn in the previous year. However, net profit surged 34.8 per cent YoY to ARS4.04bn from ARS3bn. Adjusted EBITDA also climbed 2.3 per cent YoY to reach ARS11.21bn. The company’s sales volumes of cement, masonry and lime fell 9.7 per cent overall to 6.04Mt in 2019. Argentina contributed 5.47Mt (-10.6 per cent YoY), while Paraguay saw sales of ...

Argentina remains optimistic

17 December 2019, Published under Cement News

Argentina is facing more economic woes as inflation, interest rates, unemployment and the poverty rate continue to climb. But given the pressing need for both housing and infrastructure, its cement producers continue to invest in new capacity. With a new occupant at the Casa Rosada, the Argentine President’s executive mansion, the country has an optimistic view of the future At the end of October, Argentinians went to the polls to elect their president amid challengi...

Loma Negra plans to refinance US$40m debt

16 December 2019, Published under Cement News

Argentina-based Loma Negra is looking to refinance the US$40m debt that requires repaying in January 2020. The loan was taken out at under seven per cent interest. The refinancing targets a maturation in 2022 at 10 per cent interest rate to enable the company to proceed with its US$350m investment project. If it is successful, it will have US$100m in cash reserves to complete the investment plant by mid-2020, said Sergio Faifman, CEO of Loma Negra. The plan expects to raise capacity at its...

Loma Negra records 2% fall in revenue for the 9M19

08 November 2019, Published under Cement News

Argentina's Loma Negra has recorded a 2.3 per cent fall in net revenue to ARS26.74bn (US$448m) in the first nine months of 2019, compared with ARS27.36bn in the year-ago period. However, the net profit surged 176.8 per cent to ARS2.6bn from ARS944m. Adjusted EBITDA in the 9M19 climbed nine per cent YoY to ARS7.45bn from ARS6.8bn, while the margin increased to 27.8 per cent from 25 per cent in the 9M18. Argentine sales volumes of cement, masonry and lime in the 9M19 decreased 10.4 per cen...

Loma Negra to hire 120 workers for L'Amali II

17 October 2019, Published under Cement News

Argentine cement producer Loma Negra announced it will hire 120 workers for the new line at its US$350m L'Amalí II plant in Bonaerense de Olavarría, Argentina. Of the 120 new positions, 80 will be operators and the rest managers and analysts, according to a company statement. The selection of staff will be carried out both internally and externally and the company will be in charge of carrying out the search. Loma Negra highlighted that the external search will focus on Olavarría and sur...

Loma Negra to shut Sierras Bayas plant

10 October 2019, Published under Cement News

Argentine cement producer Loma Negra has announced it will close its Sierras Bayas plant, the oldest cement production facility in the country. The plant, which is a century old, operated as a grinding and dispatch facility since 2001, when a domestic downturn in the market led to the shutdown of its kiln. While two years ago, Sierras Bayas employed 100 workers, now there are only 22 left, in addition to 23 that supply services to the works. Sierras Bayas provided employment to around 1800...

Loma Negra to turn San Juan plant into grinding and dispatch unit

05 September 2019, Published under Cement News

Argentina's Loma Negra has announced that it will be converting its 400tpd integrated plant in San Juan into a grinding and cement dispatch facility. "In the plant no more cement will be manufactured, the clinker will be brought from the Frías plant in Catamarca, located 600km away," said Ivan Malla, general secretary of the Argentine Mining Workers Association (AOMA). Of the 70 plant workers, this decision was expected to impact 40. However, after union negotiations this was reduced to 2...

Loma Negra sees 2% drop in 2Q revenue but EBITDA up

09 August 2019, Published under Cement News

Argentina-based Loma Negra reported a 2.2 per cent YoY drop in 2Q net revenue to ARS7.47bn (US$165m) while consolidated adjusted EBITDA increased 7.1 per cent YoY to ARS1.929bn, according to Wall Street Online. The rise in EBITDA was attributed mainly to the cement, masonry and lime segment in Argentina but was also supported by growth across the company’s other key segment. Moreover, it was partially offset by non-recurrent production footprint adequacy cost of around ARS188m, without whi...

Loma Negra reports fire at L'Amalí plant

06 August 2019, Published under Cement News

Argentina’s Loma Negra has reported that a fire broke out in an auxiliary building of the second line at its L'Amalí plant, Olavarría, last Thursday night. The line is still under construction, however the cause of the incident is yet to be determined. The company has noted that no significant impacts are expected and the plant will operate normally to serve its customers, according to a press release.

Loma Negra to close clinker production at Barker plant

14 June 2019, Published under Cement News

Argentina's Loma Negra has announced that it will stop clinker production at its facility in Barker, Buenos Aires. The news follows a month of negotiations with the Ministry of Labor and previously confirmed job losses . As of Thursday, 13 June the plant will operate a single shift with 24 employees, while the procedures for a final closure will begin simultaneously. Loma Negra’s parent company, Carmargo Correa, has explained that the plant was obsolete, according to Perfil. However, t...