Cement News tagged under: Spain
Spanish watchdog initiates preliminary inspection25 September 2014, Published under Cement NewsThe Spanish competition watchdog Comisión Nacional de los Mercados y de la Competencia (CNMC) has carried out inspections at the headquarters of companies that produce cement, concrete and their derivatives. The preliminary inspections were carried out over 16-18 September 2014 for alleged anti-competitive practices. Should suspicions be confirmed, the regulator will open disciplinary proceedings, which could result in fines amounting to 10 per cent of the companies' turnover. |
Spain’s cement market contracts 3% in August18 September 2014, Published under Cement NewsSpain’s cement consumption fell by a further three per cent in August 2014 to 819,249t. In the first eight months of 2014 domestic demand registered a two per cent YoY fall to 7.1Mt. “With these data we can talk about record lows, with figures even more daunting in regions such as Catalonia, with a cumulative decline of 15.8 per cent in the first eight months of the year,” said Oficemen CEO, Aniceto Zaragoza. “Given the weak state of the domestic market and to preserve activity in our pl... |
FCC to transfer rescue funds to Portland Valderrivas17 September 2014, Published under Cement NewsSpanish builder Fomento de Construcciones & Contratas SA (FCC) is to help its cement unit Cementos Portland Valderrivas make a debt payment by transferring rescue funds, according to reports by Bloomberg citing sources familiar with the matter. FCC has reportedly received approval to creditors to transfer some EUR20m to Cementos Portland, which owes lenders EUR50m on 30 September, the sources said. Meeting the payment deadline this month will buy the Spanish cement producer more time to re... |
EC clears Holcim and Cemex Spanish deal10 September 2014, Published under Cement NewsThe European Commission (EC) has cleared, under the EU Merger Regulation, the proposed acquisition of Holcim’s Spanish operations by Cemex, the last of three transactions under scrutiny in the European tie-up between the two global majors. Following an in-depth investigation launched in April 2014, yesterday the Commission concluded that the acquisition "would not raise competition concerns since the merged entity will continue to face sufficient competition from its rivals in all markets ... |
Cemex expected to receive EU clearance for Holcim Spain assets05 August 2014, Published under Cement NewsEuropean Union antitrust regulators are expected to approve Cemex’s bid to acquire Holcim’s Spanish units without requiring concessions from the Mexican producer, a source told Reuters on Monday. Cemex has convinced the European Commission that the deal will not reduce competition in Spain, a person familiar with the matter told the news agency. Another source had previously told Reuters earlier this month that the Commission had objected to the deal. Last month the European Commission... |
Molins and Votorantim to control Bolivia's Itacamba01 August 2014, Published under Cement NewsCementos Molins of Spain plans the acquisition of a majority stake in Bolivia's Cementos Itacamba. The purchase is expected to take place via Spain-based Yacuces, a joint venture with Brazil-based Votorantim Cimentos, which is also its associate in Argentina (Cementos Avellaneda) and Uruguay (Cementos Artigas). The first step will be an agreement to buy 66.7 per cent of Itacamba Cementos, which currently runs a cement mill in Germán Busch province. Yacuces has agreed to pay US$18.6m for t... |
EC extends deadline for Cemex decision31 July 2014, Published under Cement NewsThe European Commission has extended the deadline for its decision on whether to clear or block the deal from 5 September to 12 September 2014. A source told Reuters earlier this month that the Commission had objected to the deal after a preliminary review showed that it would significantly reduce competition in certain parts of Spain. Cemex had submitted its concessions on Monday, the EU watchdog said on its website, without providing details in line with its policy. It h... |
Spanish consumption woes continue15 July 2014, Published under Cement NewsSpain's cement consumption fell two per cent YoY to 967,790t in June, according to the latest data from Oficemen, the country's cement association. The latest set of figures brings the total for the 1H14 to 5.2Mt, indicating a market contraction of 3.2 per cent over the same period of 2013. Isidoro Miranda, chairman, and Aniceto Zaragoza, CEO of Oficemen, have said they expect the year to close with a domestic demand of 10.4Mt and have called it "the worst year for the industry in half a ... |
European Commission objects to Spanish deal14 July 2014, Published under Cement NewsThe European Commission, the antitrust regulator in Europe, has objected to plans by Cemex to acquire Spanish units held by Holcim. In August last year the two cement majors reached an agreement to conduct a series of transactions to swap and combine assets in parts of Europe with the aim of improving synergies and boosting operating profit. However, a source told Reuters last week that: "The European Commission (EC) has sent a statement of objections to the companies," referring ... |
LafargeHolcim merger: implications for western Europe27 June 2014, Published under Cement NewsWhile the proposed Lafarge-Holcim (LH) merger is widely being regarded as a good fit for the two companies, satisfying competition authorities in a number of key markets where operations overlap is critical for the deal to proceed. In western Europe, the LH tie-up could accelerate the restructuring process already underway by the cement industry to improve regional businesses and any disposals required by the two groups are likely to be surmountable. To satisfy regulatory requirements Lafar... |