September 2024
Chinese plant coming to Bangladesh 10 August 2018
China: Energy Engineering Group Guangdong Power Engineering is seeking US$100m of project financing for a cement plant that is being built by the Bangladesh-based Deshbandhu Group, according to company secretary Duan Qiurong.
On 2 August 2018 it was announced that Energy China had signed a contract with Deshbandhu to construct a cement plant with a daily production capacity of 1500t/day. Duan said that the company will be responsible for the project's financing. The funding will mainly come from China’s policy banks and international policy banks along with the Bangladesh government and international bank consortia.
James Hardie profit jumps 58% 10 August 2018
Australia: James Hardie Industries increased its net profit by 58% year-on-year to US$90.6m in the three months to 30 June 2018. Adjusted earnings before interest and tax (EBIT) were up by 21% to US$107.1m. Net sales were up by 28% to US$651m.
CEO Louis Gries said, "Our North America Fibre Cement Segment delivered solid top line growth of 10% for the quarter. Volumes increased by 5%, with our interiors business having only marginal growth and our exteriors business returning to growth above our addressable market. While we have returned to growth above our market index in our exteriors business, increased traction will be required to hit our 2019 financial year targeted range.”
“Within our Asia Pacific Fibre Cement Segment, net sales increased 15% for the quarter, primarily due to the strong growth in our Australian business,” added Gries. “Furthermore, EBIT increased 7% for the quarter, driven by the strong performance of our Australian business, partially offset by the performance of our New Zealand business.”
Taiheiyo sees improved fortunes at start of 2019 fiscal year 10 August 2018
Japan: Taiheiyo Cement has reported its financial results for the first quarter of its 2019 fiscal year, a period that ended on 30 June 2018.
During the three month period, its revenue was US$1.9bn, a 5.5% increase from US$1.8bn in the same period of its 2018 fiscal year. Taiheiyo’s operating profit was US$88.0m, a 10% year-on-year increase from US$79.8m. Its net profit was US$55.3m, a year-on-year increase of 32.6% from US$41.7m.
Loma Negra’s fortunes on the rise 10 August 2018
Argentina: Loma Negra has announced its results for the three and six-month periods that ended on 30 June 2018. Its net revenue rose by 37.2% year-on-year to US$202m, mainly driven by growth in its core cement, masonry and lime businesses in Argentina. Argentine cement, masonry and lime net revenues rose by 33.4%, despite relatively flat sales volumes.
Consolidated adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 26.9% year-on-year to US$49m, mainly driven by the 36.6% increase in adjusted EBITDA from Argentina. Cement, masonry and lime sales in Argentina came to US$42m.
Commenting on the financial and operating performance for the second quarter of 2018, Sergio Fairman, Loma Negra’s Chief Executive Officer, said, "Our core business, cement in Argentina, continued to deliver a solid performance, posting both revenue growth and EBITDA margin expansion despite the current challenging macroeconomic environment in the country. This was achieved despite relatively flat volumes year-on-year, as we continue with our strategy of balancing profitability and market position. Sustained growth in concrete volume demand, by contrast, was supported by ongoing implementation of public infrastructure projects in our key markets."
"Looking ahead, we remain cautiously optimistic with the cement demand outlook in Argentina. Despite the potential impact of an adverse macro environment in the second half of the year and, given current market conditions, we believe the industry could reach similar record volumes (to those) achieved last year."
Sales up in Puerto Rico 10 August 2018
Puerto Rico: Total cement sales in Puerto Rico expanded by 30% in July 2018, compared to July 2017, representing the seventh consecutive monthly increase. Sales of cement rose to 50,739t. Cement production rose by 19% over the same period.
Akmenes improves but still makes a loss 10 August 2018
Lithuania: Akmenes Cementas, Lithuania’s only cement producer, has announced that it expects improved cement sales in 2018 compared to 2017 and hopes to halve its annual loss.
The company suffered a net loss of Euro5.5m in 107, 21.7% lower than a Euro7.0m loss in 2016. Turnover in 2017 grew by 11% to Euro56.7m. The company sold 1.04Mt of cement, 4% more than in 2016.
In 2017 Akmenes sold 58% of its produce to the local market. It exported 35% to other EU countries and 7% to Belarus. The company hopes to increase cement sales and to halve its losses.
Plant worker dies on first day 10 August 2018
Italy: A 37-year old maintenance worker died on 9 August 2018 at the Buzzi Cement plant at Fanna, Pordenone, Italy. It was his first day on the job. Initial investigations have indicated that he was electrocuted by touching live electrical equipment. Investigations continue.
American boost for Nigercem 10 August 2018
Nigeria: A team of US investors announced that it will seek to revitalise Nigercem, located in Nkalagu, Ebonyi State. Addressing a cross section of stakeholders on 9 August 2018, the Chief Executive of Ibeto Nigeria Limited, Chief Cletus Ibeto said, “I am standing before you with a team of American financiers, who are here on an assessment visit to the plant.”
In her remarks, the leader of the American foreign investors, Amanda Wester, said, “We extol Ibeto Nigeria Limited the core investor in Nigercem in its commitment to establish a new 6000t/day process cement plant and 45MW capacity power plant in this first phase of the project at Nkalagu.
Chzhungtsai Mohir Cement to build plant in Uzbekistan 09 August 2018
Uzbekistan: Tajik-Chinese joint venture Chzhungtsai Mohir Cement is planning to build a cement plant near Tuda in the Boisoun district of the Surkhandarya region in Uzbekistan. The unit will have a production capacity of 1.2Mt/yr, according to Asia-Plus. The company operates a 1.2Mt/yr cement plant in Tajikistan than opened in 2016. Tajikistan exported 0.66Mt of cement in the first half of 2018 and 0.36Mt of this went to neighbouring Uzbekistan.
Kazakhstan cement production rises in first half of 2018 09 August 2018
Kazakhstan: Local cement production rose by 11.5% year-on-year to 4.63Mt in the first half of 2018 from 4.16Mt in the same period in 2017, according to Kazakhstan Newsline. Previously, production rose by 1.5% in the first half of 2017 from 4.09Mt in the same period in 2016.