Displaying items by tag: Chinfon

Vietnam: Several Vietnamese cement producers have reported losses in the first half of 2024, attributing the downturn to reduced domestic demand and competitive pricing pressures, reports Vietnam Investment Review. Vicem But Son recorded losses of US$1.5m in the second quarter of 2024, marking its seventh consecutive quarter of losses, with a 2024 first half revenue figure of US$50m, down by 10%, and total losses reaching US$3.83m. Vicem Hai Van also continued its decline, with a 43% drop in second quarter revenue to just over US$4m and losses of US$396,000. Vicem leaders said that challenges arose due to a reduced demand following limited civil engineering projects and a stagnant real estate market.

Despite the sector's overall downturn, firms like Vicem Ha Tien and Chinfon have recorded profits, with Ha Tien posting US$141m in revenue and US$875,000 in profits, and Chinfon doubling its yearly profit to US$25,250. However, the outlook for the remainder of 2024 remains bleak, with anticipated difficulties in market recovery and increasing input costs. Acoording to Vicem, the cost of electricity will continue increasing, while the demand for cement is not anticipated to recover before the end of 2024.

Vietnam: Taiwan-based Chinfon Cement has received clearance to expand its installed cement capacity to 4.2Mt/yr, according to the Viet Nam News newspaper. Chinfon Cement operates an integrated cement plant in Trang Kenh and a grinding plant in Hiep Phuoc.

Vietnam: Only four cement producers have built waste heat recovery (WHR) systems by the end of 2015 despite a request by the Prime Minister Nguyen Tan Dung. Holcim, Chinfon, Ha Tien and Cong Thanh are the only companies to have built the upgrades. The delay has been blamed on the high cost of implementing WHR systems and the market’s poor sales.

According to Nguyen Hoang Cau, secretary general of the Vietnam Cement Association, there are more than 40 cement production lines in the country subject to the requirement. These also include foreign cement producers such as Taiwanese-backed Phuc Son Cement, Hong Kong’s Luks Cement Vietnam Limited, and Japanese-funded Nghi Son Cement. Cement producers have complained to local press about their inability to build WHR systems without financial help.

Vietnam: Vietnam's Ministry of Construction has proposed the creation of an association for cement and clinker exporters to curb 'unhealthy' competition among them. The proposal has been sent to the prime minister for approval.

In its proposal the ministry said that Vietnam's cement and clinker exports have been 'badly affected' because some companies cut export prices to 'unfairly' compete with the rest. At present Vietnam has eight cement and clinker exporters. Six, Vicem, Ha Long, Thang Long, Cam Pha, The Vissai and Cong Thanh, are domestic. The remaining two, Chinfon and Phuc Son, are joint venture companies.

The ministry has called on local cement companies to cooperate rather than undercut each other in order to liquidate their large inventories through exports. The inventories are the biggest challenge facing the industry, it said. Exporting is considered a temporary measure to deal with the rising inventories which were caused by frozen real estate market and unplanned construction of cement factories nationwide.

Vietnam held around 2.8Mt of cement in inventories at the end of June 2012. The figure is expected to rise to 6Mt by the end of 2012, an increase of 23% on year-on-year.