Displaying items by tag: market

Brazil: The Administrative Court of the Brazilian Administrative Council of Economic Defence (CADE) has approved Companhia Siderúrgica Nacional subsidiary CSN Cimentos’ acquisition of LafargeHolcim Brasil, ‘without restrictions.’ The acquisition more than doubles CSN Cimentos’ capacity to 16.3Mt/yr, giving it the largest market share, ahead of InterCement Brasil.

Botswana: Cheetah Cement Botswana aims to achieve a cement production capacity of 900,000t/yr by June 2023. Cheetah Cement Botswana currently has a capacity of 36,000t/yr since commissioning its US$40m Francistown cement plant in February 2022. Botswana Investment and Trade Centre CEO Keletsositse Olebile said that the expansion will create 200 new direct jobs.

Xinhua News has reported that the move will turn Botswana, which consumes 620,000t/yr of cement, into a regional cement exporter and reduce its net imports by US$90m/yr.

Poland: Poland produced 9.3Mt of cement in the first half of 2022, up by 8.6% year-on-year from the same period in 2021. The Polish Association of Cement Manufacturers (SPC) recorded an 11% increase in national cement consumption to 6.8Mt during the reporting period. The Institute of Economic Forecasts and Analyses has estimated that full-year demand will reach 20Mt in 2022.

Brazil: Votorantim Cimentos recorded consolidated sales of US$1.17bn in the first half of 2022, up by 22% year-on-year from US$961m in the first half of 2021. Its cost of sales rose by 36% to US$1.05bn from US$777m. As a result, the group made a loss during the half of US$29.6m, compared to a US$85m profit in the first half of 2021. Group cement volumes grew by 1.1% year-on-year to 17.6Mt from 17.4Mt.

CFO Bianca Nasser said “Despite the slowdown in the world economy, Votorantim Cimentos continues to operate within solid financial metrics and with high liquidity, maintaining its investment grade status with a stable outlook attributed by the credit rating agencies Moody’s and Fitch. The company’s leverage remained at stable levels and in line with our financial policy. In May, we carried out a transaction in the international market that repurchased the most expensive debt in our portfolio, taking advantage of attractive market rates. And we used funds from debt issuances in the local market with more attractive rates to finance our operation.”

Philippines: Holcim Philippines has launched its ECOPlanet 30% reduced-CO₂ cement range in the city of Davao on Mindanao. The producer also introduced its Balik-Plastic waste cement bag recycling programme, offering a collection service to customers in order to reuse waste bags as alternative fuels and raw materials in cement production at its Davao plant.

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.

Sri 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."