Displaying items by tag: Cementos Lima

Peru: Cement production in Peru reached 8.98Mt in the first 11 months of 2012, growing by 16.7% compared to the same period in 2011, according to figures from the national cement association Asocem. Production in October 2012 alone reached a record 926,623t.

Cement shipments within the country reached 8.76Mt to the end of November 2012, growing by 16.6% compared to the same period of 2012. Meanwhile, cement exports in the January-November 2012 period grew by 200% year-on-year to 173,198t.

Cement producers active in the country are making the most of the current demand in the market. Cemento Andino and Cementos Lima agreed to merge in July 2012, giving rise to the largest player in the local market, with an installed capacity of some 7.6Mt/yr of cement. At the same time, Mexican cement producer Cemex is building a new US$230m, 1Mt/yr production facility in the country.

Peru: Cementos Lima, Peru's largest cement producer, has posted a second-quarter net income of US$20.3m, down from US$22.2m a year earlier. The company blamed an increase in its costs.

Lima's second-quarter revenue however, was up year-on-year to US$111.7m compared with US$98.0m a year earlier. The company said that its cement production in the quarter was 0.87Mt, an increase of 12.4% compared to that seen in the same quarter of 2011.

Peru: Cementos Lima, the largest cement producer in Peru, has announced that it is considering a merger with Cemento Andino, which produces cement in the central mountain region of the country.

Cementos Lima said in a note sent to the Peruvian securities regulatory agency that it has hired Citigroup Global Markets Inc. to carry out an independent valuation of both companies. It said the valuation could be used should the board of directors decide to propose a merger between the two companies.

Peru: Cementos Lima, the largest cement producer in Peru, has posted earnings of US$16m for the fourth quarter of 2011, ending on 31 December 2011. This represents a drop of 9% compared to US$18m for the same period in 2010.

For the full year Cementos Lima said it had earnings of US$79m in 2011 compared with US$75m in 2010. Total fourth quarter revenue remained static with US$104m in 2011 compared to US$104m in 2010.

The company said that cement production in the fourth quarter of 2011 was 0.84Mt down by 2.6% compared to the same quarter in 2010. The company said that the decline was due to lower demand in domestic and international markets.