Trinidad & Tobago: Trinidad Cement has appointed Edgar Campos Piedra as Group Finance Manager. He succeeds Luis Ali Moya. Campos Piedra has been employed with Cemex, the owner of Trinidad Cement, and its subsidiaries for over 14 years in a variety of different positions. Ali Moya has held the position of TCL Group Finance Manager since 2016. He has been promoted to a new role within the Cemex Group.

Bangladesh: UltraTech Cement Middle East Investments (UCMEI) has announced that it has entered into a binding agreement by which it will sell its entire shareholding in Emirates Cement Bangladesh and Emirates Power Company to HeidelbergCement Bangladesh.

Under the terms of the agreement, UCMEI will divest its entire shareholding at an enterprise value of US$29.5m. The deal is subject to regulatory approvals in compliance with the laws of Bangladesh.

Zimbabwe: PPC Zimbabwe is looking to enter into a partnership with investors to build a solar energy plant of up to 16MW to supply its two plants in Bulawayo and Colleen Bawn. It also intends to have a 28hr battery back-up facility.

The company said that the move to solar would ensure uninterrupted power supplies to its plants, which have been badly affected by the prevailing power shortages in the country. Power utility Zesa Holdings has been forced to ration power in mid 2019 as production at its main hydro-power plant dwindled due to water shortages. Its main thermal power station experiences constant breakdowns due to its old age.

Turkmenistan: Lebap Cement plant produced nearly 0.74Mt of cement in the first half of 2019, exporting around 0.24Mt (32.5%). The plant has a capacity of 1.5Mt/yr but only made 0.94Mt in 2018, giving it a capacity utilisation rate of 63%. However, if Lebap continues to produce cement at the rate seen in the first half of 2019, it will have operated at nearly 100% of its capacity across the calendar year.

Spain: Pedro Carranza, the CEO of Cementos Portland Valderrivas (CPV), has sought to reassure his company with regards to the future of the Alcalá de Guadaíara plant in Andalusia following a dispute with local authorities.

“The future of the Alcalá de Guadaíra cement plant is assured,” he said. “It is an efficient, low-cost and very well located plant in a very attractive economic environment where construction growth is above the national average. The Alcalá plant is here to stay.” Carranza added that only ‘distortion of international markets’ could compromise the plant’s future. He called for a surge in public infrastructure investment as soon as possible.

The plant has been involved in a long-running dispute with local authorities regarding co-processing of alternative fuels. A project is now underway. The plant is also exploring long-term renewable energy purchase contracts and the installation of solar panels on its site.

US: Eagle Materials has reported financial results for the second quarter of its 2020 fiscal year, a period that ended on 30 September 2019. Its overall revenue was US$414.5m for the period, a 9% year-on-year improvement.

Revenues from its cement activities, including joint venture and intersegment revenue, were up by 18% to US$227m, reflecting improved sales volume and net sales prices. Cement sales volume for the quarter were a record 1.8Mt, up by 14% compared to the prior year quarter. Operating earnings from cement were also a record at US$66.5m, 16% higher than the same quarter a year ago. The earnings improvement was primarily due to higher sales volume and net sales prices.

Commenting on the second quarter results, Michael Haack, President and CEO, said, "We are proud to have achieved record revenue and net earnings per share for the second quarter of our 2020 fiscal year. Our second quarter performance was driven mostly by increased cement shipments, cost control initiatives and strong operational execution, as we capitalised on the robust underlying demand across our geographic footprint.”

Commenting on the remaining six months of its 2020 fiscal year, Haack said “The outlook continues to be positive. Demand for our building materials and construction products is supported by a number of favourable market dynamics including ongoing growth in jobs, high consumer confidence and low interest rates."

Japan: Taiheiyo Cement made a net profit of US$150m in the six months to 30 September 2019. This was a fall from US$160m in the same period of 2018. Its revenue for the same period of the 2019 fiscal year was US$395m, a fall from US$402m a year earlier. For the full year to 31 March 2020, Taiheiyo forecasts a net profit of US$570m.

India: The India Cements, south India's largest cement maker by volume, has stated that it may have to delay its planned capital expenditure projects, if the Indian economy continues its relative ‘slump.’ The company’s proposed projects include an investment of US$195m on a greenfield plant in Madhya Pradesh and a grinding plant in Uttar Pradesh.

India is going through what many consider to be a ‘unprecedented’ economic slowdown following GDP growth of ‘a mere 5% in the third quarter of 2019, a six year low. This has led to a slowdown in government spending, directly affecting cement consumption and capacity utilisation rate at The India Cements’ plants.

“We may hold back capital expenditure," said N Srinivasan, the company’s Vice Chairman and Managing Director. “I want to expand. I want to go there, but I want to be sure before I go!"

Kuwait: Kuwait Portland Cement reported a 75% decrease in its net profit during the third quarter of 2019. Its profit was US$2.0m in the third quarter of 2019 compared with US$8.0m in a year earlier. Kuwait Portland’s nine month profit came to US$20.3m, a 21% fall year-on-year compared with US$25.7m. It attributed the decrease in profit to lower net returns on investments.

Malaysia: Tasek Corp Bhd's net loss for the third quarter of 2019 narrowed to US$1.3m from US$1.45m a year earlier. It said that it was hampered by high production costs and increased price competition. Its revenue however, rose by 6.9% to US$38.7m compared with US$36.2m in the third quarter of 2018.

Over the first nine months, Tasek's net loss widened to US$5.6m, from a revenue of US$102.7m, up by 1.3% year-on-year. "The board views the outlook for the last quarter of the year to remain challenging if pricing pressure continues," reported Tasek, as cited by the Sun Daily.