Cimpor closes down limestone plant

During the first half of 2012, the Portuguese cement company Cimpor registered losses of €204.80 million compared to profits of €132 million during the same period the previous year. According to the company this is directly linked to the economic crisis in Spain and Portugal, which had an effect on its accounts of €290 million. Without those adjustments, Cimpor would have registered a €85 million profit. Additionally, half-year revenues decreased by 5.5% to €1.086 billion

Cimpor CEO Francisco Lacerda has said that the company will offset contracting markets in Portugal and Spain with increased focus on Brazil to deliver growth within the business. Lacerda said that key events such as the Olympic Games and Football World Cup will help to drive significant growth in the market.

According to a study of Informa D&B the sales of Portuguese cement in foreign markets surpassed the €133 million in 2013 and Algeria is the main exporting market.

Following the crisis that is affecting the Portuguese construction sector many cement companies have been relying on foreign markets to consolidate their business performance.

The exports of cement in 2013 rose by 30% compared to the previous year. The imports in turn fell to €18 million and compares to €16 million recorded in 2012 and €21 m