Cementos Molins forecasts 2010 profits ?unchanged'

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

April 2, 2012 Read time: 2 mins

According to CEO Joan Molins, profits of the Spanish cement producer 4709 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 by €280million extra.

Despite the national market sinking 50% during the last two years, specially after a reduction on public work projects, Cementos Molins has decided to put aside any workforce restructuring operation.

Some of the new investments that the company will be involved in include the last stage of the €118million Sant Vicenc dels Horts plant, which is due to open in June. The plant includes the latest technology in energy savings and it is expected to reduce its energy bill by 20%.

The only problem the company is facing now involves its plant in Bangladesh, which has currently stopped production while its stone supplier solves some legal issues.

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Cementos Molins

Romania to lead European construction recovery

The 2009 downturn hit Romania’s construction industry harder than any other in central Europe: it is likely to lead the recovery. Romania’s construction industry was hit harder than any other in central Europe by the 2009 downturn, but there are signs of optimism. European Union funding is beginning to fall into place alongside major infrastructure plans throughout the country. Just three or four years ago, Romania’s construction industry was doing well: cement use alone reached record levels in 2008 at 600