Cement News tagged under: Peru
Peru: Pacasmayo's net income up 24% YoY16 February 2015, Published under Cement NewsPeruvian producer Cementos Pacasmayo's net income increased 24 per cent in 2014 to PEN188.8m (US$61.3m) as a result of operating efficiencies, a reduction in administrative expenses and lower losses from currency movements. Operating margin increased 0.6 percentage points in 2014, compared to 2013, mainly explained by lower administrative expenses, and an extraordinary income. Consolidated EBITDA increased 4.7 per cent (PEN365.3m in 2014 versus PEN348.9m in 2013). Cement sales volum... |
Ecuador: Peru’s Cementos Yura buys stake in Unión Cementera Nacional26 January 2015, Published under Cement NewsCementos 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 201419 January 2015, Published under Cement NewsPeru’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 stable19 January 2015, Published under Cement NewsFitch 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, Bolivia18 December 2014, Published under Cement NewsPeruvian 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 NewsPeru’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 201512 December 2014, Published under Cement NewsCementos 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 acquisition03 December 2014, Published under Cement NewsPeruvian 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 slip20 November 2014, Published under Cement NewsPeru’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 3Q1428 October 2014, Published under Cement NewsCementos 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,... |