Oman: Raysut Cement’s revenue fell by 22% year-on-year to US$187m in 2017 from US$240m in 2016. Its profit after tax fell by 66.6% to US$18m from US$53.8m. In November 2017 the cement producer blamed its falling profit on lower sales due to competition locally and in export markets, disruption to its export market in Yemen resulting from the on-going civil war and increased energy prices.
Shree Cement expands into UAE with purchase of Union Cement
UAE: India’s Shree Cement has purchased Union Cement Company (UCC) based in the UAE for US$305m. Its board approved the acquisition of at least a 92.8% share in the company, according to the Press Trust of India. The transaction is expected to be completed by September 2018. Following the deal Shree Cement’s cement production capacity will rise to 33Mt/yr from 29.3Mt/yr. The acquisition is the company’s first outside of India.
UCC was established in 1972. It operates a cement plant Ras Al- Khaimah with a clinker production capacity of 3.3Mt/yr and a cement production capacity of 4Mt/yr.
Cement distributors concerned about production at INC
Paraguay: The association of cement distributors in Vallemi has expressed its concern over low production levels at Industria Nacional del Cemento’s (INC) plant. The association says that the cement plant has been unable to guarantee clinker production or dispatches of cement, according to the ABC newspaper. Cement shortages are expected unless normal production is resumed.
The kiln at INC’s plant in Vallemi as reportedly stopped repeatedly since September 2017. It stopped operating on 27 December 2017 and has been waiting for engineers from ABB to carry out repairs. Parts were due to arrive in mid-January 2018. INC has denied reports that cement production and supply have been affected.
Big Boss Cement to launch in the Philippines
Philippines: SM Group heir Henry Sy Jr has launched Big Boss Cement with a group of investors. The new cement producer plans to start selling cement in March 2018, according to the Manila Bulletin newspaper. Its first product will be called ‘Big Boss Cement Type 1P.’
It has nearly completed a cement grinding plant that will have a production capacity of 1.5 million bags/yr at Porac in Pampanga. The company hopes to capture 3% of the estimated market demand for cement of 25Mt/yr. Big Boss Cement operates a laboratory in Metropolitan Manila.
