Competition from China leads to Portugal’s Semapa selling less cement in Angola

10 February 2011

Lisbon, Portugal, 10 Feb – Sales of cement in Angola by Portuguese group Semapa fell 42.8 percent in value in 2009 to 27.8 million euros, said the group that controls cement company Secil – Companhia Geral de Cal e Cimento.

The drop was due to, “a fall in consumption of cement of around 20 percent and strong competition from cement imported from China at low cost,” noted the statement to present the group’s results for 2010, issued in Lisbon Tuesday.

The cement business of the Semapa group provided turnover of 535.8 million euros in 2010, A drop of 6.4 percent against 2009, mainly due to reduced performance at the business units in Portugal and Angola, whose earnings before interest, tax, depreciation and amortisation (ebitda) fell 19.8 percent, and 90 percent, respectively. (macauhub)

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