Global Cement News
Search Cement News
Cementos Argos sales revenue and earnings down so far in 2017 14 November 2017
Colombia: Cementos Argos’s sales revenue and earnings have fallen in the first nine months of 2017 due to poor performance in Colombia. Its sales revenue fell by 1.3% year-on-year to US$2.14bn from US$2.17bn in the same period in 2016. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 16.8% to US$352m from US$424m. However, its cement sales volumes rose by 15.4% to 12.2Mt from 10.5Mt.
“Thanks to the sound implementation of the BEST Program, we have made significant improvements in a particularly challenging year for our industry. By the end of this year, we are optimistic about the performance of all the markets in which we operate,” said Juan Esteban Calle, chief executive officer (CEO) of Cementos Argos.
By region, the cement producer reported growth in the US but problems in Colombia. It highlighted that cement and clinker imports to Colombia have fallen in 2017 due to rising tariffs. It also expects the local market to recover in 2018. In the Caribbean and Central America the group’s performance suffered from extreme weather events, although it managed to grow its revenue. It also reported that its cement plant in Puerto Rico is still not operational.
Itacamba increases exports to Argentina 14 November 2017
Argentina/Bolivia: Bolivia’s Itacamba is preparing to send a second batch of cement to Argentina. It sent 4000t earlier in the year and now intends to send the same amount again, according to the El Día newspaper. The company expects to export 0.16Mt of clinker with a value of US$9m in 2017. Cement exports are expected to reach a value of US$2m. Itacamba already dispatches clinker to Argentina and it has been sending both clinker and cement to Paraguay.
Roanoke Cement terminals recertified by Wildlife Habitat Council 14 November 2017
US: The Wildlife Habitat Council (WHC) has recertified four of Roanoke Cement Company’s terminals in Virginia and North Carolina. Units at Front Royal, Richmond and Bristol in Virginia and Winston-Salem, North Carolina received the certification.
"Having the Wildlife Habitat Council's recertification for each of them is a distinguished recognition confirming that all of Roanoke Cement's sites are on the right track ecologically. We look forward to continuing our conservation efforts providing pleasing, ‘green’ features within our terminal campuses. A few examples include pollinator meadows at Front Royal and Winston-Salem, avian habitats for the Eastern Bluebird in Richmond, and stream restoration in Bristol," said David Brinkley, Director of Distribution & Customer Resources at Roanoke Cement Company.
WHC's certification program, ‘Conservation Certification,’ is built on global recognition programs, reflects contemporary conservation efforts and applies its collective learning to the future of biodiversity in the US and the globe. Front Royal, Richmond and Winston-Salem were originally certified in 2013. Bristol was originally certified in 2015. Certification by WHC is valid for two years.
HeidelbergCement sells half of its Georgian business 13 November 2017
Georgia: HeidelbergCement has sold 50% of the voting rights in its Georgian business to Cement Invest, an investment company jointly managed and owned by the Georgian Co-Investment Fund (GCF) and Hunnewell Partners. HeidelbergCement and Cement Invest will jointly control the resulting joint venture. The transaction will contribute in total about Euro115m to cutting HeidelbergCement’s net debt.
“The joint venture’s competitiveness will be improved with the modernisation of the Kaspi cement plant, where the construction of a modern dry kiln line already started in 2016 and is expected to be finalised by the end of 2018. The disposal is part of our portfolio review and optimisation with the goal to generate additional cash flow in order to support our disciplined growth and increase shareholder returns,” said Bernd Scheifele, chairman of the managing board of HeidelbergCement.
HeidelbergCement started operating in Georgia in 2006. The new joint venture operates three integrated cement plants, a cement grinding facility and a cement terminal on the Black Sea coast. The cement production capacity exceeds 2Mt/yr. A network of 13 ready-mixed concrete plants and two aggregate quarries supports the cement business.
Cement producers cross about Indian tax classification 13 November 2017
India: The Cement Manufacturers Association (CMA) says it is disappointed for the entire industry following the Goods and Services Tax (GST) Council’s decision to retain cement in a higher tax rate. The GST Council has reduced the tax rate on a wide range of commonly used items, from chewing gum to detergents, to 18% from 28%, according to the Press Trust of India. However, cement, along with paints, has remained at the 28% rate, despite the expectations of the cement industry.
"The retention of the cement in the 28% GST bracket, along with luxury items such as washing machines and air conditioners is quite unfortunate," said CMA President Shailendra Chouksey. He added that cutting the tax rate of cement could have hastened the recovery of the industry from a current slow period.