UNACEM’s sales in 2020 squeezed by coronavirus
Unión Andina de Cementos’ (UNACEM) income fell by 14 per cent year-on-year to $467 million in 2020 from $546 million in 2019. Cement despatches dropped by 16 per cent to 4.46Mt from 5.32Mt. Its profit decreased to $8.33 million from $96 million. The cement producer attributed the reduction in sales and profits due to the country’s coronavirus-related lockdown from March to May 2020. In December 2020 it agreed to buy Chile-based Cementos La Unión Chile for $23 million. The deal includes the 0.3 MT/year San Antonio grinding plant and a concrete plant.