Cement News tagged under: Uruguay
Uruguay: government-owned plants losing money20 February 2017, Published under Cement NewsUruguay's budget deficit reached four per cent of GDP during 2016, equivalent to US$2.043bn, the worst performance since 1989, according to the latest figures released by the government's statistics office, INE. 2015 ended with a budget deficit of 3.6 per cent of GDP, which also set a record only comparable to 2002 (3.7 per cent). Government-owned cement plants have been losing money at a rate of US$40m/year. Equipment to renew one of its plants, including a kiln costing over US$200m, is ... |
ANCAP to shed 200 jobs during its restructuring13 February 2017, Published under Cement NewsWhile ANCAP is expected to hold onto its three cement units, the restructuring of the company will see the dismissal of 200 personnel. Staff have received the “commitment” from the company’s general manager, Ignacio Horvath, and the Portland Division Manager, Fernando Acuña, that the plants of Paysandú and Minas as well as the Manga distribution centre will remain open. In the past decade the Uruguayan cement producer has reported losses of US$200m. |
Uruguay: Ancap to explore export potential25 November 2016, Published under Cement NewsUruguay’s Ancap Board of Directors has approved a memorandum of understanding with Cimsa to explore over the next 90 days the potential of an alliance that will help Ancap export cement. Ancap’s cement division suffered losses of US$30m in 2015 with a similar amount expected this year. While the company has reported losses for a considerable time, these have increased in recent years. The company operates a cement plant in Lavalleja and Paysandú and has invested US$80m in a new oven, but ... |
Uruguay: ANCAP official speaks out about Turkish imports08 November 2016, Published under Cement NewsArtigas González of the Federación ANCAP (FANCAP) and member of the Portland commission of the ANCAP workers guild, said Cementos Charrúa (Cimsa) is currently importing bagged cement from Turkey and repackaging it under a Uruguayan brand for marketing, according to El Observador. "It comes in the form of dumping (below its cost of production) and at a price that is unfair competition," he said. FANCAP has made a formal proposal to the Ministry of Industry, Energy and Mining to review the... |
Molins sees net 1Q15 profit up 132%14 May 2015, Published under Cement NewsSpanish cement producer Cementos Molins reported a net profit of EUR15.1m in 1Q15, up 132 per cent YoY from EUR6.5m in 1Q14. Although domestic sales improved by 7.1 per cent, the company said the advance was “insufficient”. EBITDA reached EUR2.1m, but net profit remained in the red. Its Mexican subsidiary Corporación Moctezuma posted a 37.3 per cent rise in sales while Argentina’s Cementos Avellaneda saw revenues increase by 51.1 per cent. In Uruguay, Cementos Artigos saw a 34.3 per cent i... |
Cementos Molins posts 1Q14 net profit of EUR6.5m21 May 2014, Published under Cement NewsSpain-based Cementos Molins released its first-quarter 2014 results, showing a net consolidated profit of EUR6.5m, up 37 per cent when compared to 1Q13. The group’s domestic companies saw a loss of EUR7.4m although they ‘improved’ their YoY results by increasing clinker exports and implementing cost-cutting measures, helping to mitigate the effect of lower sales in Spain. Cementos Molins’ overseas subsidiaries posted a net profit of EUR14m on the back of increased sales by Corporación M... |
Ancap notes record loss for 201312 May 2014, Published under Cement NewsUruguay’s Ancap closed 2013 with a record loss of US$150m. The company attributed the result partly to developments in the exchange rate, which impacted the cement producer significantly as it borrows in US dollars. However, Ancap has been able to pay the US$513m debt with PDVSA, allowing it to reduce its dollar position and limiting the 2013 loss. CEO, José Coya, said the company will design a “stabilisation programme.” In 2012, Ancap registered a loss of US$14m while in 2011, this ... |
Exports offset domestic losses for Molins25 November 2013, Published under Cement NewsThe third-quarter consolidated net profit of Spain’s Cementos Molins fell 65.5 per cent YoY to EUR10.8m. The company’s international subsidiaries enjoyed a profit of EUR43.3m, offsetting the EUR32.5m loss registered in the domestic market. In the first nine months of the year, consolidated turnover slipped by 9.7 per cent YoY to EUR621m. Around 10.5 per cent was shaved of the turnover originated in Spain while the lower contribution of Mexican subsidiary and the consolidation of Cementos ... |
Cementos Molins 1H profit falls 58%01 August 2013, Published under Cement NewsCementos Molins closed the first half-year with a profit of EUR8.3m, 58 per cent down on 1H12. The decline has been attributed to the poor performance of the Spanish subsidiaries, which recorded a EUR22.4m loss. The company’s overseas divisions returned a profit of EUR30.7m. The group's total turnover decreased by 8.6 per cent from the 1H12 and reached EUR416m. In Spain, the turnover decreased by 14 per cent. Abroad sales fell seven per cent due to lower contributions from Mexico and Ce... |
Uruguay to export 0.6Mt to Argentina23 July 2013, Published under Cement NewsUruguay’s ANCAP will be exporting 0.6Mt of Portland cement to Argentina and Paraguay, thanks to the expansion of its Paysandú works. The exports are scheduled to take place once the Paysandú capacity expansion is completed in 2016. The capacity project will see output at the works double after a two-stage programme is implemented. The first phase will see a fuel conversion to petcoke which will be followed by a construction of a new kiln. The kiln will more than double production from ... |