Displaying items by tag: Americas

Vietnam: Financial management company SSI Securities Corporation says that it expects Vietnam’s cement consumption to ‘bottom out’ in the first quarter of 2024, before recovering ‘gradually’ throughout the rest of the year. Việt Nam News has reported that the anticipated recovery is the outcome of intensified investments in infrastructure by the Vietnamese government, beginning in late 2023. The cement sector also anticipates growing demand from export markets, including Australia, the US, Africa and South and Central America, as it lowers its reliance on exporting to China. Challenges persist in the form of protective measures or stricter standards in other markets, including the Philippines and Europe.

Spain: Cementos Molins' consolidated sales were Euro959m over the first nine months of 2022, up by 37% year-on-year from the same period in 2021. Cementos Molins attributed the growth to an increase in sales across all of its businesses and the 'significant' contribution of new acquisitions from 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 11% to Euro208m, while its net profit rose by 3% to Euro90m. The group noted a 'strong performance' by its South American and Asian business. In general, it faced high costs growth, offset partly by increased product prices and the effects of its successful operational efficiency plans. Costs rose especially sharply in Spain, leading to margins deterioration there, while the impacts of hyperinflation in Argentina were lower than in the corresponding period of 2019.

Cementos Molins' net debt continued to decline throughout the period, to reach Euro137m, 0.5x its EBITDA. The group said that its financial position will give it leverage in its execution of new growth opportunities and its 2030 sustainability roadmap.

Regarding the company's third-quarter 2022 performance, chief executive officer Julio Rodríguez said "Despite a very challenging and uncertain global environment and the negative impact of high inflation costs, once again Cementos Molins has delivered very solid results in the third quarter. This performance is the outcome of the contribution of a very professional and committed team worldwide, whom I would like to thank for their big effort in such a difficult environment."

Germany: Beumer has announced its acquisition of conveying systems supplier FAM Group. The group says that the two companies complement each other ‘ideally.’ FAM Group employs 750 people in Germany, Brazil, Canada, Chile, China and India, as well as representatives elsewhere. Beumer says that the company’s ‘leading technology’ for transporting and processing minerals fits well with its own portfolio.

Argentina: South Africa-based Pro-Op Industries has announced the shipment of a set of ceramic rotary valves produced by Germany-based Kreisel to Argentina. The product is to be installed at Loma Negra’s 1.5Mt/yr integrated Catamarca plant in Catamarca province. The rotary valves will replace two screw pumps with the aim of ‘substantially reducing energy consumption and maintenance costs’ at the plant. Pro-Op Industries said, ‘We are excited and honoured to be working with the Loma Negra team and to be introducing Kreisel technology to the South American region.’

Ireland: CRH recorded sales of Euro28.3bn in 2019, up by 6% year-on-year from Euro26.7bn in 2018. Earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 25% year-on-year to Euro4.20bn from Euro3.36bn. The company said that the results were supported by a positive demand backdrop in the Americas and in key regions in Europe. It also set out a new CO₂ emissions roadmap with target of 520kg/t of cement by 2030, a 33% reduction compared to 1990 levels.