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Cementos Molins looks to foreign operations for growth

World Cement,

According to local media reports covering a conference in Esade, Spain, Cementos Molins plans to put additional emphasis on its foreign operations following the decline in cement consumption levels in the Spanish market. Speaking at the conference, Cementos Molins Vice President and CEO, Juan Molins, noted that the problems facing the Spanish construction industry had forced the company to reconsider the structure of its domestic operations. According to Oficemen, total cement consumption in Spain fell by 35% y/y to 13.5 million t last year, and it is unlikely that 2013 will see an improvement.

Preliminary figures suggest that the cement manufacturer ended the year with cement sales amounting to €918 million, only €184 million of which was raised through domestic sales. In contrast, the remaining predicted sales revenue of €734 million in 2012 resulted from the company’s operations in foreign markets. Cementos Molins has a presence in Argentina, Uruguay, Mexico, Tunisia and Bangladesh, and has not ruled out the possibility of expanding its reach abroad, particularly in Uruguay and Bolivia. The company’s foreign operations could offset the problems facing the Spanish cement industry as the economic downturn continues to affect its construction sector.

Edited from various sources by Louise Fordham.

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