James BryceCEMENT consumption in Spain is at its lowest level for almost half a century as the industry feels the effect of the financial crisis.
Spending on public works has been drastically reduced due to the recession, while the huge backlog of unsold properties has seen the house-building sector come to a standstill.
In the first nine months of the year, 11.6 million metric tonnes of cement were sold, down 34% on a year ago.
The total for this year is expected to be 13 million metric tonnes, the lowest since 1967 – in stark contrast to 2007 when 56 million tonnes were sold.
The sector has been forced to cut 28% of jobs since 2008, while a number of plants have closed.
Sun rises in the east and sets in the west – wow, I never knew that.
Shall be coming to northern Spain to buy s/hand scaffolding and mechanical hoist for pennies – it’s an ill wind – and all that.