Cement News tagged under: Spain
Spain: FCC refinances Portland Valderrivas debt14 July 2016, Published under Cement NewsIn the restructuring of the group, Spain’s FCC plans to refinance the syndicated debt of Cementos Portland Valderrivas (CPV), in which it owns a 77.9 per cent stake. Funds from FCC’s capital increase will be used to write of EUR325m of EUR823m of the total amount. CPV will then refinance the outstanding EUR500m over a period of five years. The refinancing will also enable the Spanish cement producer to obtain a reduction in interest rate from 4.5 per cent (Euribor) to 3.5 per cent. Key cr... |
Spain: consumption decreases 2.3% in 1H1612 July 2016, Published under Cement NewsCement sales in Spain slipped by 0.9 per cent to 1,048,116t while for 1H16 they fell 2.3 per cent to 5,525,720t. The continued fall in demand is attributed to the lack of construction in the infrastructure sector with the key housing sector unable to offset the decrease. "The virtual paralysis of public works has been a setback in our forecasts for the end of the year," says Jaime Ruiz de Haro, Oficemen president, adding that "at the end of 2015 we envisioned a scenario with slight growth... |
Spain: cement consumption falls01 July 2016, Published under Cement NewsCement consumption in Spain fell by 7.5 per cent in May, reaching 965,465t, 78,535t less than a year ago and the lowest comparable figure since May 1965, according to the latest figures of Oficemen, the Spanish cement association. During the first five months of the year cement consumption declined by 2.7 per cent YoY to 4.478Mt, 122,792t less than in the same period of 2015. According to Aniceto Zaragoza, CEO of Oficemen, the cement sector is being punished "by the absence of measu... |
Spain: cement demand down 7.5% YoY27 June 2016, Published under Cement NewsSpanish cement consumption saw a 7.5 per cent YoY drop in May 2016 to 965,465t, according to the latest figures published by Oficemen, the country’s cement association. In the first five months of the year, the domestic market contracted 2.7 per cent when compared to the same period in 2015. Total demand in Spain is 4.47Mt. Oficemen attributes the fall to national budget deficits and the lack of political stability as well as the absence of measures for public works to recover. |
Spain: Cosmos to go ahead with biomass16 June 2016, Published under Cement NewsCementos Cosmos is to be allowed to burn biomass at its kiln, according to the Cordoba appeal judge dealing with the case. Cordoba municipality had said the cement producer could not fire its kiln with waste, but this decision was overruled with municipality having two weeks to carry out the judgment. |
The Mediterranean and beyond25 May 2016, Published under Cement NewsThe Mediterranean has always played a vital role in the world economy and international trade. In recent years its bordering countries have been affected by turmoil caused by various factors: the economic crisis, a fall in oil prices, increasing migration and Islamisation, political instability and wars. This uncertainty has affected construction investment and regional cement demand. For Mediterranean cement producers this has meant a need to find new markets and look beyond the usual horiz... |
Spain: April cement demand contracts 3.3%23 May 2016, Published under Cement NewsCement consumption in Spain fell 3.3 per cent YoY in April, slipping to 946,329t, according to Oficemen. The latest data bring the figures for the first four months of 2016 to 3,512,140t, reflecting a decrease of 1.2 per cent YoY. Oficemen attributes the decline particularly to public works, which, according Oficemen’s director general, Aniceto Zaragoza, "is being much worse than expected and does not correspond to the approved by government budgets, which means there is a slowdown of... |
Spain: Cementos Portland restructures debt11 May 2016, Published under Cement NewsThe refinancing of the EUR825m syndicated loan of cement producer Portland Valderrivas, a Fomento de Construcciones y Contratas (FCC) company, has been completed, reports Spacol. FCC, the Spanish civil engineering group and main shareholder in Portland, with an 80 per cent stake, offered a 10 per cent trimming to the loan, which matures in July 2016, but the offer was rejected by creditors. More than 50 per cent of the debt of Portland is now in hands of vulture funds, such as Apollo, Dav... |
Cementos Portland reports EUR29.6m loss in 1Q1604 May 2016, Published under Cement NewsSpain’s Cementos Portland reported a loss of EUR29.6m (US$34m) in the first quarter of 2016, 0.4 per cent less than in 1Q15 due to a recovery in sales and savings in energy costs, the company informed the stock exchange commission CNMV. Sales during the three-month period reached EUR129.8m, up 6.6 per cent thanks to improved performance in the USA, Tunisia and export markets. Volumes rose 12.4 per cent to 1.7Mt as exports from Spain increased, the US saw growth and Tunisia noted “a small ... |
Spain: Cementos Molins 1Q16 profit up 1.7%03 May 2016, Published under Cement NewsCementos Molins posted profits of EUR15.36m for Jan-Mar 2016, up 1.7 per cent YoY. However, sales reached EUR130.69m, 10.2 per cent down when compared with 1Q15. The business result was impacted by a contraction in Spain and to some extent, the negative impact of foreign currency depreciation, especially in Argentina and Mexico. Nevertheless, the Argentinian and Mexican businesses led the improvement in results with better margins compensating for their currency depreciation. Urugu... |