Cement News tagged under: Spain

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Cementos Portland reports 2011 loss, Spain

27 February 2012, Published under Cement News

Cementos Portland Valderrivas of Spain reported a loss of EUR327.5m for 2011 against a profit of EUR1.2m registered in 2010, local press reported. The result was explained by the company’s need to allocate EUR337m to the reinforcement of its balance sheet, Expansión reported. Excluding this effect, the loss would have come in at EUR16m. Revenues were down by 19.2 per cent YoY to EUR609m, while EBITDA amounted to EUR150.1m, down 30.8 per cent. Cementos Portland plans to boost EBITDA ...

FCC may delay sale of US unit

24 February 2012, Published under Cement News

Fomento de Construcciones & Contratas SA (FCC) of Spain may delay the sale of its US business after receiving offers below expectations, El Confidencial reports. FCC had wanted EUR600m for the unit, however, potential buyers do not see economic recovery yet that will revive cement demand, the newspaper noted, citing unidentified sources.

Cementos Portland Valderrivas appoints new executive chairman

17 February 2012, Published under Cement News

The Board of Directors of Cementos Portland Valderrivas, Spain’s largest cement producer, has approved the appointment of Juan Béjar Ochoa as executive chairman of the group. Mr Béjar will continue as executive chairman of Globalvia, a 50:50 joint venture between Bankia and FCC. Previously, he was chairman of Citigroup Infrastructure Management, Citigroup's subsidiary responsible for infrastructure asset management, where he raised US$3.4bn for investment in the sector and the subsequent ma...

Spanish consumption falls to 1987 levels

17 February 2012, Published under Cement News

Spanish cement consumption fell to 1.1Mt in January 2012, representing a 23.5 per cent decline than the same month of last year, latest figures from Spanish cement association Oficimen show. Cement production was 1.4Mt, a 17.26 per cent decline over January 2011. Looking at the past 12 months (February 2011 - January 2012), the decline in production was slightly over 17% to 21.7Mt, while consumption registered a decrease of 18.6% of 19.9Mt. Regarding trading, exports remained at 3.9Mt whi...

Readymix considers Cemex Espana offer

03 February 2012, Published under Cement News

A sub-committee of the board of Readymix is considering Cemex’s EUR9.5m offer to by the outstanding 40 per cent of the company it does not own via its Spanish subsidiary. The Irish Times reports that Readymix chairman Adrian Auer and independent director Donal O’Connor are considering the approach and working on a response. Readymix yesterday said that it expected total losses for 2011 to reach €54m.

Holcim acquires stake in Cementval Building Materials, Spain

02 February 2012, Published under Cement News

Holcim has acquired a 19.99 per cent of the new venture Cementval Building Materials. The remaining 80.01 per cent is in the hands of Corporation F. Turia. The Valencian Turia Group and Holcim Spain have maintained an association of almost two years in Cementval, (51 per cent by Turia and 49 per cent by Holcim Spain) until last December On 23 January, Holcim acquired its additional stake in the new Cementval set-up. Turia will retain control and management of Cementval, keeping Sebasti...

Cementos Lemona temporary downsizing of operations, Spain

23 January 2012, Published under Cement News

Cementos Lemona of Spain has presented a 161-day downsizing programme for its 123 members of staff its plant in Lemona, Biscay province, Finanzas  reports. This is in light of a 40 per cent decline in production between 2007 and 2010. With the readjustments the company hopes to adapt to current market conditions. In 2011, the company had 166 days of production stoppage due to lower cement demand but to-date had not adjusted its labour. The company said it is not seeking to reduces wage...

Spanish firms to pay fine on northern cartel

16 January 2012, Published under Cement News

A number of Spanish cement companies have been imposed with a fine worth over EUR11.09m by Spanish competition watchdog, CNC, for setting up a cartel in northern Spain. Cements Portland was ordered to pay a fine of EUR5.72m, followed by Beriain (EUR2.5m), Cetya (EUR1.14m), Vresa (EUR959, 277) and Cemex Espana (EUR502, 283), Cinco Dias reported.

Spanish full year cement consumption falls 17.2%

13 January 2012, Published under Cement News

Spain has witnessed a double-digit decline in full year 2011 cement consumption of 17.2 per cent to 20.2Mt compared to 24.5Mt in 2010, latest data from Oficemen shows. Cement production, meanwhile, fell by 16 per cent to 22Mt and clinker output was down 14.2 per cent to 18.2Mt.   Exports of 3.8Mt were similar to those registered in 2011, while imports were down 39.2 per cent.   Regionally, the decline in cement consumption was more pronounced in Catalonia and the West (-21.3 per cent and 2...

Cementos Portland announces two board members, Spain

13 January 2012, Published under Cement News

Spanish cement producer Cementos Portland Valderrivas has approved the nominations of Juan Bejar and Jose Manuel Burgos as board members. They will replace Rafael Martinez-Ynzenga Canovas del Castillo and Feliciano Fuster. Juan Bejar currently occupies the post of executive chairman at domestic motorway operator Globalvia. Jose Manuel Burgos, in turn, is a vice-chairman at real estate firm GMP.