Cement News tagged under: Panama
Cementos Progreso acquires Cemento Interoceánico17 January 2020, Published under Cement NewsGuatemala’s Cementos Progreso has acquired a 100 per cent stake in Cemento Interoceanico SA, a Panama-based producer. Fabrega, Molino & Mulino acted as a legal adviser to Cementos Progreso, while Morgan & Morgan represented Cemento Interoceanico, according to Market Line. |
New quality regulations due for Panama's cement market03 December 2019, Published under Cement NewsNew quality regulations for Panama’s cement market are due to come into effect on 3 December 2019 and are expected to affect cement importers, distributors and sellers, according to La Estrella de Panamá. The new norms establish that all hydraulic cement commercialised in the market, including imported cement, must comply legislation issued by the Ministry of Commerce and Industries in July 2019, which encompasses labelling, storage, testing and chemical content among other specifics. |
Cemento Progreso acquires Cemento Interoceánico20 November 2019, Published under Cement NewsGuatemala-based Cemento Progreso has bought a 100 per cent stake in Panamanian cement producer Cemento Interoceánico, according to Panamá América. In an internal communication to its staff, Cemento Interoceánico informed its personnel that labour conditions would remain the same and there would be no change of leadership. |
Cement production in Panama falls 10%30 August 2019, Published under Cement NewsThe drop-off in construction in Panama is being cited as the main reason for the depressed cement sector in the 1H19. According to data from the General Comptroller of the Republic, between 1H18 and 1H19, the total cost of construction went from US$662m to US$510m, which is equivalent to a fall of 23 per cent. Cement production totalled 749,235t in January to June 2019 and ready-mix concrete amounted to 614,210Mm 3 for the same period, a fall of 12 and 10 per cent, respectively, on 1H18.... |
Argos Panamá submits EIS for Balboa clinker plant21 August 2019, Published under Cement NewsArgos Panamá SA has submitted an environmental impact study for its Balboa project to the country’s Environment Ministry. The new clinker plant will be built on a 18ha plot in Buena Vista, Colón province. The works will include limestone crushers, raw material grinding and clinker production equipment as well as conveyors, according to CentralAmericaData. The project represents an investment of US$168m. |
Panama improves cement quality requirements and standards30 July 2019, Published under Cement NewsPanama’s Minister of Trade and Industry, Ramón Martínez, signed two ministerial resolutions aimed at improving the requirements and standards of cement quality, both for domestic and imported cement. The new technical standard DGNTI-COPANIT 5-2019 of building, building materials, hydraulic cement sets out the chemical, physical and performance requirements of general and specialised cements, as well as the packaging, transportation, storage and use requirements. The Technical Regulation... |
China accounts for 15% of Central American cement imports07 January 2019, Published under Cement NewsIn the first half of 2018, Central America’s largest importing country was Nicaragua, which purchased cement from overseas sources to the value of US$28m, followed by Guatemala at US$18m. Smaller volumes were imported by El Salvador (US$12m), Honduras (US$7m), Panama (US$6m) and Costa Rica (US$5m), according to CentralAmericaData. YoY the volume of cement imports in the region advanced by two per cent from US$75.6m to US$77.1m in the 6M18 when compared with the year-ago period. Around 15... |
Panama cement market forecast to contract by 13%26 November 2018, Published under Cement NewsCement consumption in Panama is expected to fall by 13 per cent this year due to the economic slowdown, the strike by the trade union of construction workers, Suntracs, and a decline in construction permits. "We are seeing a 13 per cent drop this year and we perceive that next year will not be a good year either," explained José Luis González Habas, Cemex's planning director. In previous years, cement demand in Panama was close to 2Mta, peaking during the expansion of the Panama Canal but... |
Cemex Latin American Holdings hurt by lower volumes in Colombia and Panama27 April 2018, Published under Cement NewsCemex Latin American Holdings' turnover declined by 8.4 per cent in first quarter of the year to US$301.1m, while EBITDA came off by 28.8 per cent to US$65.9m. At the trading level there was a 36 2. per cent profit reduction to US$44.1m. After an 11.4 per cent decline in the interest charge to US$14.8m and other items, the pretax profit showed a 15.9 per cent reduction to US$48.2m and the net attributable profit emerged 15.3 per cent lower at US$30m. Net debt at the end of March was 3.4 ... |
Cemex Latin American Holdings depressed by Colombia12 February 2018, Published under Cement NewsCemex Latin American Holdings saw turnover decline by 5.5 per cent to US$1315.3m and EBITDA fell by 26.7 per cent to US$310.8m, with the margin coming down from 32.2 to 25 per cent. The trading profit deteriorated by 51.5 per cent to US$151.5m and after a further 0.6 per cent increase in financial expenses to US$63.3m and other items, the pretax profit dropped by 66.2 per cent to US$83.7m. After tax and minorities, the net attributable profit was 67 per cent lower at US$46.1m. The net debt w... |