Displaying items by tag: market
Vietnam: Xuan Tanh Cement plans to commission its upcoming 4.5Mt/yr Ha Nam cement plant in October 2022. Viêt Nam News has reported that the new plant will bring Ha Nam province’s cement capacity to 10Mt/yr.
Vietnam consumed approximately 63.5Mt of cement in 2021.
Tokyo Cement Group increases first-quarter turnover as volumes drop so far in 2023 financial year
09 August 2022Sri Lanka: Tokyo Cement Group increased its turnover to US$45.2m in the first quarter of it 2023 financial year, up by 53% year-on-year from first-quarter 2022 financial year levels. A shortage of imported raw materials and the country’s on-going fuel crisis hampered local cement demand. The group’s cement sales volumes declined during the quarter, while its cost of sales increased by 24% year-on-year. ‘Steep’ currency depreciation compounded the effects of the increase in expenses. Nonetheless, the company recorded a profit of US$1.48m.
The producer said “Tokyo Cement has taken many proactive measures to minimise the impact of economic downturn on the group's performance. Anticipating a challenging environment, the group has reforecasted demand, rescheduled sourcing and production plans, and adjusted cash flows accordingly. The group has deployed drastic cost saving measures, streamlined operations, and postponed capital expenditure. While the short to medium term economic landscape remains uncertain, Tokyo Cement has a proven track record of resilience and resurgence, and is committed to rebuilding the nation, stronger than ever before.”
South Africa: Bowman International has launched Bowman Split Bearings South Africa to deliver the manufacturer’s high-load capacity split roller bearings to the South African and African markets.
Managing Director Paul Mitchell said “There are several heavy-side industries in South Africa and Africa that struggle with the detrimental effects of bearing failure. Our new associates – directors Gary Mayer and Leon Van den Berg – will support businesses in these areas to reduce downtime by specifying the Bowman Advanced Roller Bearing, which is specifically designed for high-load applications.”
Pakistan: Lucky Cement’s consolidated sales in its 2022 financial year, which ended on 30 June 2022, were US$1.47bn. This represents an increase of 60% year-on-year from US$920m in the 2021 financial year. The group said that it overcame economic challenges during the year through its successful execution of its diversification strategy and the ‘robust’ performance of all its businesses. Its full-year net profit was US$162m, reportedly in line with its previous year’s performance.
Lucky Cement’s standalone cement sales volumes fell by 8.9% year-on-year to 9.1Mt from 10Mt. Its exports fell by 25% to 1.8Mt from 2.4Mt.
India: Holcim subsidiaries ACC and Ambuja Cements, along with Dalmia Cement, Shree Cement, UltraTech Cement and 15 other Indian cement producers, have violated antitrust laws through price collusion and supply restriction, a Competition Commission of India (CCI) investigation has uncovered. Reuters News has reported that regular price rises in the Indian cement market were the outcome of collusion between producers, which set target prices by district and carried out twice weekly inspections of participant companies’ operations. Senior executives from ACC and UltraTech Cement, among other companies, served as state-wide coordinators. They planned and carried out their deception by means including messaging platform WhatsApp.
ACC and UltraTech Cement, along with ACC’s fellow Holcim subsidiary Ambuja Cements, declined to comment, however Holcim said “The Indian companies are managing this matter responsibly and we expect them to continue to do so accordingly."
Holcim Argentina achieves 50% ECOPact concrete deliveries
05 August 2022Argentina: ECOPact reduced-CO2 concrete accounted for 50% of Holcim Argentina’s cement deliveries at the end of the first half of 2022, a higher share than in any other country apart from the UK. Holcim launched ECOPact concrete across its markets in June 2021. Holcim Argentina plans to execute new investments to further increase its distribution of the product.
The company’s head of concrete José Villacreses said “We have set ourselves even more challenging goals. We will be the undisputed ally for sustainable projects throughout Argentina. Whoever wants to measure their carbon footprint to offer sustainable construction will find in Holcim the necessary solution to be able to achieve the certifications that society demands today.”
Indonesian cement demand forecast to rise by 33% from start of Nusantara construction
03 August 2022Indonesia: A Bandung Institute of Technology (ITB) academic has estimated a 33% rise in Indonesian cement consumption to 84Mt/yr from the start of construction of the country's planned new capital city, Nusantara, and for the following 20 years during which the city is under construction. National coal consumption is forecast to rise accordingly, by 9% to 126.5Mt/yr. Mongabay News has reported that the Indonesian government has more than tripled the coal domestic market obligation for cement production to 15Mt/yr in 2022 - 2025, from 4.5Mt in 2021.
The site of Nusantara sits on the present border between North Penajam Paser and Kutai Kartanegara districts. Construction of the city's upcoming government district is beginning in August 2022. 100,000 workers will be engaged in the first phase of construction. A researcher at Beihang University, China, has reportedly estimated that the eventual 10m people-strong city will consume 60Mt of cement for residential construction alone.
Spain: Cementos Molins increased its first-half 2022 consolidated sales by 35% year-on-year to Euro608m and its earnings before interest, taxation, depreciation and amortisation (EBITDA) by 4% to Euro132m. The group said that its implementation of operational efficiency plans successfully offset cost inflation. Its net profit was Euro57m, in line with that in the first half of 2021.
Chief executive officer Julio Rodríguez said "Despite the markets growth slowdown and the uncertain global context, at Cementos Molins we continue to move confidently towards achieving the objectives of our strategic plan 2020-2023.”
US: Eagle Materials offset higher energy and maintenance costs by raising the prices of its products in the first quarter of its 2023 financial year. This contributed to an 18% year-on-year sales rise to US$561m. The group achieved earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$184m during the quarter, up by 13% year-on-year.
President and chief executive officer Michael Haack said "Our results this quarter exceeded our expectations, as our portfolio of businesses performed well, and we executed on the opportunities available to us. Construction activity remained healthy across our markets, and we realised broad pricing gains across our portfolio again this quarter."
The producer’s cement sales rose by 5% year-on-year to US$285m. Haack said "In our heavy materials business, we implemented a second round of cement price increases in early July 2022 given the strong demand environment and our sold-out position. Looking ahead, we expect demand for cement to remain strong, with infrastructure investment increasing as federal funding from the Infrastructure Investment and Jobs Act begins in earnest this fiscal year.”
Mexico: GCC increased its sales revenue by 11% year-on-year to US$320m in the second quarter of 2022. Its US cement sales volumes rose by 6%, with a 10% rise in prices, while its Mexico cement volumes fell by 2.3%, with a 12% rise in prices. The group’s cost of sales was US$220m, 69% of total sales, compared to 67% in the second quarter of 2021.