Displaying items by tag: Spain
Market report places demand for materials handling equipment at US$1.6bn outside of China
07 November 2016Spain: A market report examining the buying behaviour of the cement industry for materials handling systems has calculated that the market potential for relevant equipment comprises US$1.6bn, excluding China. The ‘Materials Handling Systems 2020’ report by OneStone Consulting analyses projects between 2013 and 2015 in 15 product categories for nine territories around the world. The product categories include crushers, stacker/reclaimers, apron and belt conveyors, belt and chain bucket elevators, pneumatic conveyors, dosing/weigh-feeding, storage systems, packers, palletisers, mechanical mixers and ship unloaders.
Cementos Portland Valderrivas board approves sale of Giant Cement Holding to Elementia
31 October 2016US: The board of Cementos Portland Valderrivas (CPV) has approved the sale of a 55% stake in its US subsidiary Giant Cement Holding to Elementia. The deal includes a US$220m capital increase in Giant Cement with subscription rights granted to Elementia, according to SeeNews. Elementia will also extend a loan of around US$305m to Giant Cement. In addition CPV will transfer up to US$66m in loans to Giant Cement to keep its remaining stake in the American cement producer at 45%.
Cemengal introduces Plug&Grind X-treme to product range
06 October 2016Spain: Cemengal has introduced a new model to its range of modular and potable grinding stations, the Plug&Grind X-treme, the fourth generation in the series. The new addition has a production capacity of 50t/hr or 0.4Mt/yr. The concept still remains the same, with only eight containers and six modules. It includes a XP4 I classifier from Magotteaux.
Spanish regulator issues Euro29.2m fine to cement companies
13 September 2016Spain: The National Commission for Markets and Competition (CNMC) has issued total fines of Euro29.2m to 23 cement companies for involvement in a cartel between 1999 and 2014. Among the companies are Cementos Portland Valderrivas, with a Euro10.2m fine, Cemex Spain with a Euro5.8m fine and Holcim Spain, with a Euro4.4m fine, according to the Cinco Días newspaper.
The CNMC’s investigations have shown that the companies coordinated the exchange of commercial information, market sharing and price fixing between 1999 and 2014 in three distinct geographical areas in the north, centre and south of the country. Notably, the southern region examined the companies used email and WhatsApp mobile phone application to share sensitive information.
Spain: The refinancing of a Euro825m loan of cement producer Cementos Portland Valderrivas has stalled. Fomento de Construcciones & Contratas SA (FCC) offered a 10% ‘haircut’ to the loan which matures in July 2016 but the offer has been rejected by the company’s creditors. FCC, a Spanish civil engineering group, owns an 80% stake in Cementos Portland Valderrivas.
More than 50% of the debt of Portland is now in hands of so called ‘vulture funds’ such as Apollo, Davidson and Avenue whose return requirements are different than those of traditional banks. After a recent Euro709m capital hike FCC has set aside around Euro300m to appease creditors, according to the Expansión newspaper.
Spain: Cementos Molins has posted a net profit of Euro15.4m for the first quarter of 2016, a rise of 1.7% year-on-year. The group’s consolidated quarterly revenue came in at Euro130.7m, 10% less than in the first quarter of 2015.
Cementos Molins suffered a Euro6m negative impact on its accounts due to the depreciation of the Mexican and Argentinian currencies during the quarter, which was compensated by improved margins.
Spain: Cementos Molins has reported a rise in its net profit of 65% year-on-year to Euro50.8m in 2015. The Spanish cement producer also managed to reduce its loss in the Spanish market to Euro13.1m in 2015 from Euro27.7m in 2014. Sales outside of Spain also improved, with its profit rising by 9% to Euro64m. Particular improvements were noted in Mexico (20%) and Argentina (37%), according to Expansion.
LafargeHolcim stops quarry extension at Sagunto cement plant
18 February 2016Spain: LafargeHolcim has decided to stop the expansion of its limestone quarry at its Sagunto cement plant. It decided this due to environmental issues with the local government and the lack of viable alternative for expansion in the area, known as Margas.
Lafarge originally signed at agreement with the government to expand the quarry in 2013. However the one licence requires renewal in 2017 and the local government has opposed the request.
La Unión Cement in court over 'sexist' adverts
11 November 2015Spain: La Unión Cement has been accused of producing sexist advertising, including using bikini-clad women and close ups of cleavages, to sell its product, according to local media.
A court in Valencia is due to rule on the alleged sexist advertising after a lawsuit was filed against the building supplies company in October 2015 by the Madrid-based Institute of Women, part of the government's Ministry of Equality. It is the first time the Violence Against Women department of the public prosecutor's office has been part of a case of sexist advertising and it will rule alongside the department of trade on the case.
The lawsuit concerns various promotional videos for the cement company, which show scantily clad women for no apparent reason, according to the Institute of Women. "Our job is usually based on raising awareness of gender equality, but sometimes there are instances, such as this, when we are moved to take legal action," said the Institute´s Head of Communication, María Jesús Ortiz Gómez.
The prosecution has demanded that the cement company cease all allegedly sexist advertising and has also asked the court to ban any further usage of the images in question. The defence has argued that the images belong to an old campaign that is no longer running. La Unión has previously been keen to point out how much it prizes equality. "La Unión reaffirms its corporate vision in favour of the training of women and their inclusion in the company," it said in a press released dated August 2015. The company claims that it 'exceeds today´s standards of equality and gender parity.'
LafargeHolcim to launch downsizing plan in Spain
29 October 2015Spain: LafargeHolcim plans to launch a downsizing plan for a total 15% of its workforce in Spain. The launch of the downsizing plan was attributed to the difficulties that the company faces in Spain due to the low cement demand in the country and the overlapping of workforces following the merger of Lafarge and Holcim. LafargeHolcim currently has a workforce of 1000 employees in Spain and its annual revenues in the country amount to Euro300m.