Cement News tagged under: Peru

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Ecuador: Peru’s Cementos Yura buys stake in Unión Cementera Nacional

26 January 2015, Published under Cement News

Cementos Yura, part of Peru’s Grupo Gloria, has acquired a 63.5 per cent share in state-owned Unión Cementera Nacional of Ecuador, which will hold the balance of shares. The $230m investment will be disbursed to the Ecuadorian cement producers via a trust over the next 40 months, during which the construction will take place of a new 2400tpd clinker production line in Riobamba. "We will participate in this company with this contribution and are very optimistic that this will benefit t...

Peru’s cement market stable in 2014

19 January 2015, Published under Cement News

Peru’s cement market absorbed around 881,360t of cement in December 2014, according to the latest data from the country’s cement association, Asocem. Domestic producers reached an output of 932,603t in the last month of 2014, of which 37,491t of cement were exported as well as 30,014t of clinker. Comparative figures for December 2013 revealed a 3.3 per cent increase in national dispatches but a 7.5 per cent decrease in cement exports. Production rose 0.5 per cent in December YoY. Full...

Fitch affirms Pacasmayo's ratings; outlook stable

19 January 2015, Published under Cement News

Fitch Ratings has affirmed the following ratings for Cementos Pacasmayo SAA): • Foreign currency Issuer Default Rating (IDR) at 'BBB-'; • Local currency IDR at 'BBB-'; • Senior unsecured US$300m notes due 2023 at 'BBB-'. The Rating Outlook is Stable. Key rating's drivers Solid business position Fitch said the ratings reflects Pacasmayo's solid business position, as the only cement producer in Peru's northern region which has resulted in high margins, low leverage and solid liquidi...

Peru's Gloria Group acquires control of Soboce, Bolivia

18 December 2014, Published under Cement News

Peruvian conglomerate Gloria Group has acquired an outstanding 51.35 per cent stake in Bolivia's largest cement producer Sociedad Boliviana de Cemento (Soboce) for US$300m. Gloria previously held a 47 per cent stake in Soboce, once the flagship of magnate and former presidential candidate Doria Medina, with US$280mn in annual sales. Mr Medina, who lost to President Evo Morales in the October presidential elections, opposed Mr Morales' move to nationalise Soboce's 30 per cent stake in cemen...

Peru: November dispatches up 3.6%

18 December 2014, Published under Cement News

Peru’s November cement dispatches remained stable MoM at 928,981t, according to Asocem, the country’s cement association. However, YoY figures show a 3.6 per cent rise. Production increased 2.8 per cent from 945,992t in October to 972,529t in November. November exports reached 26,625t of cement, up 14.6 per cent YoY, and 27,501t of clinker (from a zero base in 2013. In the January-November 2014 period, domestic deliveries increased 0.57 per cent YoY to 9,460,630t. Production expanded b...

Peru: Pacasmayo Piura to come online in July 2015

12 December 2014, Published under Cement News

Cementos Pacasmayo has invested US$190m in its new Piura plant, Peru, and civil works have been almost completed. “The new plant is a project that we have started more than two-and-a-half years ago. The works, which is built with latest-generation German technology, has a production capacity of 1.6Mta of cement and 1Mta of clinker,” said Humberto Nadal, CEO of Cementos Pacasmayo. The plant aims to be “the first plant in the country with zero emissions”, he added. The company currently...

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...

Peru: exports offset domestic sales slip

20 November 2014, Published under Cement News

Peru’s cement market remained stable in October as domestic sales slipped slightly from 967,000t in October 2013 to 965,000t, according to Asocem, the country’s cement association. However, local producers saw a more marked YoY fall in output from 944,000t to 983,000t. The modest loss in domestic cement sales was successfully compensated for by a 50 per cent YoY rise in cement exports as cement manufacturers delivered 30,000t across the country’s borders. In addition, they also saw clinke...

Peru: Cementos Pacasmayo profits fall 17% in 3Q14

28 October 2014, Published under Cement News

Cementos Pacasmayo reported a YoY drop in net profit of 17 per cent for 3Q14 as cement dispatches fell due to the deceleration in Peru’s economy. In the July-September quarter, the company’s profit fell to PEN40.5m (US$14m) from PEN48.8m in 3Q13. Net sales fell six per cent YoY to PEN316.2m from PEN336.4m in 3Q13. Cost of sales decreased 7.3 per cent to PEN276.2m as did output, which saw a fall of 7.5 per cent to 578,000t. However, in 9M14, Cementos Pacasmayo’s profit reached PEN121.3m,...

Peru: Cementos Pacasmayo to rebound in 4Q14

22 October 2014, Published under Cement News

Peru’s Cementos Pacasmayo is expected to see a two per cent YoY drop in output volumes in 3Q14, according to investment bank JP Morgan. However, the cement producer is forecast to rebound in the 4Q14 by two per cent and recorded gains of eight and nine per cent in 2015 and 2016, respectively. The bank also has good news for Cementos Pacasmayo’s EBITDA margin as it foresees a 0.6 percentage point rise in 2015 to settle at 28.9 per cent. After a challenging nine months, the Peruvian constr...