Cement News tagged under: Vassiliko Cement

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Vassiliko Cement reports rise in domestic sales for 2018

11 June 2019, Published under Cement News

Cyprus-based Vassiliko Cement has reported a 17 per cent rise in cement sales to the domestic market in 2018. However, total income fell 4.4 per cent YoY to EUR97.9m from EUR102.4m. The company has attributed the result to a decline in cement exports, alongside a rise in the cost of energy and CO 2 emission allowances. Cyprus’ construction industry contracted between 2008-15. However, the last four years have seen a steady upward trend. In 2018 the company noted that cement sales reached ...

Cyprus sets 24% reduction goal in greenhouse emissions by 2030

25 January 2019, Published under Cement News

The government of Cyprus has approved a draft National Plan for Energy and Climate to see a reduction of 24 per cent of greenhouse gases in the country by 2030, compared to levels emitted in 2005. However, this total excludes emissions from cement, electricity and pottery sectors. This compares to the EU's greenhouse emissions target of 40 per cent reduction by 2030. Currently the industrial sector only accounts for eight per cent of Cyprus' emissions. Vassiliko Cement is the only cement pl...

Vassiliko Cement enlisted to dispose of waste tyres

19 October 2018, Published under Cement News

Vassiliko Cement has received 1800t of old tyres from the Dali industrial area of Cyprus in an attempt by the Ministry of Agriculture to safely manage the amount of waste tyres being stored in an environmentally-friendly way. Vassiliko Cement is a licensed management facility for disposal of waste tyres. Following the successful completion of this first phase, the ministry added, the transportation and management of tyre waste stored in a quarry site in Agios Sozomenos will soon begin. Th...

Vassiliko Cement in talks to take SRF/RDF waste

23 April 2018, Published under Cement News

The Water Development Department (WDD) in Cyprus is in talks with Vassiliko Cement Works to use byproducts generated at the municipal waste treatment plant at Pentakomo as alternative fuels as an alternative to landfill. The government would have to pay Vassiliko to take in the SRF/RDF sludge, reported the Cyprus Mail. Vassiliko has requested additional sample analyses of the byproduct to determine whether the RDF/SRF mix suits its needs. The WDD said that it might be possible for the P...

N+P extend SRF supply order with Vassiliko Cement

22 September 2017, Published under Cement News

N+P has agreed an extended solid recovered fuel (SRF) supply agreement with Vassiliko Cement Works and its subsidiary Enerco Energy Recovery. The contract will now run until 31 December 2020, with an option to further extend this cooperation to 31 December 2022. Since 2015 N+P has delivered SRF from the UK and Italy in sea containers and bulk vessels to Vassiliko Cement Works Public Company Ltd in Cyprus. The Vassiliko Cement Works uses SRF as secondary fuel to replace fossil fuels, s...

Cyprus: change in VCW ownership structure

08 December 2015, Published under Cement News

The Archbishopric of Cyprus purchased 12.84m shares of Vassiliko Cement Works (VCW) from the Hellenic Mining public company at EUR1.20/share. The total value of shares bought adds up to EUR15.4m.
 The transaction resulted in a change over the voting rights of the participating companies. Hellenic Mining voting rights in Vassiliko Cements, a subsidiary of the Cyprus Cement Public Company (CCPC), were reduced down to zero from 17.85 per cent whereas the Archbishopric of Cyprus increased its v...

Cyprus: Vassiliko sees increase in exports

24 November 2015, Published under Cement News

Vassiliko Cement Works Public Co (VCWP), a subsidiary of Cyprus Cement Public Company (CCPC), has seen a recent increase in its exports to neighbouring countries and a reduction in its cost of production. However, the group realised a slight reduction in its profits compared to last year’s respective period. CCPC presented its interim management statement for the 1 July-20 November period. In its statement the company reaffirms that, as with any other company operating in Cyprus, the future...

Vassiliko workers strike over wages, Cyprus

09 February 2012, Published under Cement News

Some 170 employees of the Vassiliko Cement Public Company staged a 24-hour warning strike over wage disputes, according to reports from the Cyprus Mail. Workers unions PEO and SEK accused the company of unilaterally proceeding with austerity measures which violated the collective agreements currently in place. Measures include the scrapping of wage rises and increments, changes in the overtime payment system and the handing out of only 50 per cent of the 14th salary. Despite the wage free...