Cement News tagged under: Peru

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Unacem shareholders to discuss merger with Inversiones Andino

04 December 2018, Published under Cement News

Peru-based Unacem reported that its general meeting of shareholders will evaluate the proposal between the company and the Investment and Administration Trade Union, Inversiones Andino and Inmobilaria Pronto. The cement company explained that the main objective of the merger is to consolidate in Unacem the knowledge, strategies, experiences, specialisations, rights and other assets developed and managed by the three societies that would be absorbed. It also seeks to extinguish the contract...

Peru cement market expands 3% in October

20 November 2018, Published under Cement News

Peru’s cement consumption advanced 2.9 per cent YoY to 1.02Mt, according to the country’s cement association, Asocem. Cement production by domestic producers fell by two per cent YoY and by 2.9 per cent MoM to 0.903Mt while clinker output decreased by 23.5 per cent YoY and 2.1 per cent MoM to 0.678Mt in October. Domestic production was supplemented by 90,000t of cement imports, down 71.4 per cent YoY and 82.8 per cent MoM, as well as 153,000t of clinker imports, which represents a 251.3 ...

Cementos Yura sees 30% 3Q net profit fall

07 November 2018, Published under Cement News

Peru-based Cementos Yura saw its net profit fall by 30 per cent YoY to PEN52m (US$15.4m) in the third quarter of 2018. The company has attributed the slide to a lower gross profit as the cost of sales increased 14 per cent YoY to PEN146m due to higher clinker production costs. Sales increased to PEN261m with domestic shipments up four per cent due to higher demand for the Yura and Frontera brands. Exports contracted by 35 per cent YoY in the third quarter. The loss in exports was due to th...

Unacem reports 38% rise in 3Q net profit

01 November 2018, Published under Cement News

Peruvian cement producer Unacem has reported revenues of PEN497.9m (US$147.7m) in the 3Q18, down 0.8 per cent from PEN501.8m in the 3Q17. Gross profit remained largely stable at PEN187.1m during the quarter, but operating profit rose seven per cent to PEN128.8m from PEN120.4m in 3Q17. Net profit in 3Q advanced to just under PEN49m, up 38 per cent from PEN35.5m in the year-ago period. In the first nine months of 2018, Unacem saw its revenues rise by 5.7 per cent from PEN1.382bn in 9M17 to P...

Cementos Pacasmayo net income drops 14% in 3Q18

30 October 2018, Published under Cement News

Cementos Pacasmayo saw its revenues fall by 4.4 per cent to PEN318.8m (US$95.2m) in 3Q18, mainly due to change in mix of products sold and to a slight decrease in prices. It also reported a 1.9 per cent rise in sales volumes of cement, concrete and precasts to 610,800t, mainly due to a recovery in the self-construction segment as well as increased sales to small and medium-sized projects. Net income declined 13.5 per cent YoY to PEN33.4m as operating income fell as a result of higher coa...

Peru cement demand largely stable in September

22 October 2018, Published under Cement News

Cement consumption in Peru reached 0.966Mt in September 2018, slipping by 0.3 per cent when compared with the year-ago period, according to the country’s cement association, Asocem. Cement producers dispatched some 0.958Mt in September, 0.5 per cent less than in the previous-year’s period, when 0.975Mt was delivered. Cement exports reached 20,700t, down 37 per cent YoY while clinker exports improved 44 per cent to 105,000t. Domestic output reached 0.878Mt, slightly less than the 0.897Mt i...

Unacem buys Cementos Portland for US$28m

15 October 2018, Published under Cement News

Peru-based Unacem has acquired Cementos Portland for US$28m from Cementos Bío Bío and Votorantim. Unacem, which operates 8.3Mta of production capacity at two plants at Atocongo and Condorcocha, informed the Superintendency of the Stock Market (SMV) that on 10 October, it had carried out "a transfer of 100 per cent of the shares representing the capital stock of Cementos Portland for the total price of US$28,095,802".

Cementos Bío Bío sells Peruvian subsidiary

11 October 2018, Published under Cement News

Chile’s Cementos Bío Bío has sold its Peruvian subsidiary, Cementos Portland, in a transaction valued close to US$14m, according to La Tercera. The departure means that it will no longer be participating in a project with Brazil’s Votorantim Cimentos to construct a plant in Lima, which has reportedly faced a number of difficulties concerning market rivals. A further two projects that the company had planned in Peru, one concerning cement and the other lime, will remain unfulfilled after th...

Peru’s cement demand remains stable in August

26 September 2018, Published under Cement News

Cement dispatches by Asocem members remained largely stable in August 2018 at 865,000t when compared with the year-ago period, according to the country’s cement association, Asocem. However, they advanced 9.4 per cent when compared with July 2018 when 790,000t was sold in the domestic market. When all domestic cement producers are included, national dispatches reach 975,000t, down 0.5 per cent YoY. Domestic supply was complemented by cement imports, which surged by 60 per cent YoY to 70,00...

Unacem seeks loans of up to US$490m

25 September 2018, Published under Cement News

Union Andina de Cementos SAA (UNACEM) plans to start talks with banks for up to US$490m in loans to refinance existing US$-denominated debt and other corporate purposes. The company is seeking US$50m from Citibank, US$45m from Banco Santander and local currency credit facilities for up to US$100m from Banco de Credito del Peru and Scotia Bank Peru, the Peruvian cement producer said in a recent stock exchange announcement. UNACEM posted a YoY flat consolidated EBITDA of PEN290m (US$87.5m)...