Displaying items by tag: Holcim Vietnam

Vietnam: Brokerage company Mirae Asset Securities Vietnam (MASVN) expects cement producers that specialise in exports to switch to the domestic market due to reduced demand in China. The export market to China has slowed down due its Zero-Covid policy and a reduced real estate market, according to the Viet Nam News newspaper. Major local exporters include Vissai Ninh Binh, Hoang Mai and Thanh Thang. China accounted for 40% of Vietnam’s cement exports in 2021. If these companies switch to the local market then it is expected to create more competition for producers that are more domestically aligned, including Vicem Ha Tien, FICO and Holcim Vietnam

Vietnam: The government has approved development planning to start for an inland port for the Siam City Cement Vietnam Thi Vai cement grinding plant. The proposed site will be adjacent to the Thị Vải River, according to the Vietnam Investment Review magazine. The port is expect to be able to support barges with a capacity of up to 5000t. The plant was acquired by Thailand’s Siam City Cement in March 2017 when it purchased Holcim Vietnam from LafargeHolcim.

Vietnam: Holcim Vietnam has been officially renamed as Siam City Cement Vietnam following its acquisition by Thailand’s Siam City Cement. Holcim products will now be sold locally under the Insee brand, according to the Saigon Times. An agreement for Siam City Cement to buy LafargeHolcim’s 65% stake in Holcim Vietnam was announced in August 2016.

Vietnam: LafargeHolcim is considering leaving Vietnam due to oversupply of cement in the local market, according to Nguyen Cong Bao, general director of Holcim Vietnam. The company met with the Ministry of Construction to notify it of its forthcoming business plans in Vietnam. Bao’s statement was reported by the Dau Tu newspaper.

The cement producer has five cement plants with a production capacity of 6Mt/yr, making it the largest manufacturer in the country. It also operates eight ready-mixed concrete plants. The Vietnam Cement Industry Corporation (Vicem), the country’s leading cement producer, holds a 35% stake in Holcim Vietnam. LafargeHolcim retains the brands of Lafarge and Holcim’s products including Lavilla (Lafarge) and Holcim Power-S. Holcim Vietnam holds 26% of the domestic market and Lafarge Vietnam holds 12% of the market.