Displaying items by tag: Thang Long Cement

Indonesia: Semen Tonasa has appointed Asruddin Leo as its president director following a shareholders meeting. He succeeds Mufti Arimurti in the post, who resigned in May 2023, according to Rakyat Sulsel.

Asruddin has worked for Semen Indonesia and its subsidiaries, including Semen Tonasa, since 2011. He previously worked in finance roles at Semen Tonasa, before becoming the Head of Finance and then the chief executive officer at Thang Long Cement in Vietnam. He has also worked as the vice president for Financial Policy and Excellence at Semen Indonesia. He holds an undergraduate degree in accounting and a master’s degree in strategic management from the Hasanuddin University in Makassar, South Sulawesi.

Vietnam: The government of Quang Ninh Province has ordered the closure of two cement plants in Ha Long, the 2.0Mt/yr Ha Long cement plant and 2.3Mt/yr Thang Long cement plant, to close in 2030. The Viet Nam News newspaper has reported that the closures aim to protect the local environment and nature as part of the city’s move towards becoming a tourism and service hub centred on Cua Luc Bay. In 2014 the provincial government advised the cement plants to stop expanding and relocate before 2030.

Indonesia: Semen Indonesia’s revenue grew by 23% year-on-year to US$1.17bn in the first half of 2019 from US$0.95bn in the same period in 2018. Its net profit halved to US$34.3m from US468.8m. Its domestic sales volumes of cement fell by 7.17% to 7.78Mt in the first five months of 2019 from 10.54Mt in the same period in 2018. Exports rose by 7.42% to 1.38Mt from 1.28Mt. Both local sales and exports fell at its Thang Long Cement subsidiary in Vietnam. However, its acquisition of Holcim Philippines in February 2019 has boosted its overall sales by 17% to 15.2Mt.

Indonesia: Semen Indonesia’s cement sales volumes grew by 19% year-on-year to 8.89Mt in the first three months of 2019 from 7.45Mt in the same period in 2018. The company’s acquisition of Holcim Indonesia in February 2019 drove the growth. The cement producer’s domestic sales fell by 3.5% to 5.98Mt although export sales grew significantly. Both domestic and export sales from its Vietnamese TLCC subsidiary fell by 32% to 0.41Mt. Overall national cement sales volumes increased by 3.2% to 17Mt in the reporting period.