Argentina: Cementos Molins to invest $189mn

According to CEO Joan Molins, profits of the Spanish cement producer Cementos Molins should remain at similar levels to those in 2009, despite the industry's outputs in Spain dropping to 28million tonnes over two years, half of what was recorded in 2007. Profits of the company should be of some €56million in 2010, and dividends should be at similar levels than those in 2009, after they were cut to €0.24 per share. Meanwhile, the company has decided to move on with its current investments plan, and raise it

Spanish cement company Cementos Molins posted a profit of €50.8 million in 2015, a rise of 65% compared with the previous year.

The company’s consolidated net turnover was up 21% at €637.8 million.

The rise in net profit has been attributed to better results in Spain, and although the company continues to produce losses in the Spanish market, it has managed to reduce them from €27.7 million in 2014 to €13.1 million in 2015.

EBITDA for local markets was double at €12.5 million.

In international

Spanish cement and concrete company, Cementos Molins, wants to start industrial operations in Qatar and China in 2013, both of which will be new markets for the company. The investment is being channelled through Precon (Linyi) Construction, which is controlled by Molins' subsidiary Precon. The company will initially have 50,000m² of space available, but depending on how its business fares, this could quadruple. Construction of the factory is currently being finalised in Linyi (Shandong).