Philippines: The board of directors of Eagle Cement has acknowledged the acquisition of 89% of the producer's issued shares by San Miguel Equity Investments (SMEI). SMEI has conducted a mandatory tender offer for the remainder of Eagle Cement's shares. The board adopted three resolutions, namely to extend its cooperation to SMEI, to voluntarily delist its shares on the Philippine Stock Exchange (subject to SMEI's acquisition of more than 90% of shares) and to hold a special meeting of its shareholders.

Kazakhstan: Steppe Cement's sales were US$68.7m during the first nine months of 2022, up by 13% year-on-year from US$60.6m in the corresponding period in 2021. Its cement sales volumes were 1.36Mt, down by 1% year-on-year from 1.38Mt.

Kazakhstan's cement demand grew by 2% year-on-year to 9.4Mt in the first nine months of 2022. Steppe Cement expects the Kazakh cement market to grow by 2% year-on-year to 11.8Mt throughout 2022. Steppe Cement holds a 15% market share.

China: China Resources Cement has issued a profit warning for the nine-month period ending on 30 September 2022. The producer said that it expects its profit to 'significantly' decline year-on-year on account of lower sales volumes and an increased cost of sales during the period, compared to the corresponding period in 2021.

Pakistan: Fecto Cement recorded sales of US$30.4m during the 2022 financial year, up by 37% year-on-year from US$22.3m during the 2021 financial year. Throughout the year, the producer's cement volumes fell by 1.9% to 713,000t from 729,000t, while its exports fell by 51% to 26,600t from 54,700t. Its cost of sales increased by 32% year-on-year to US$26.5m from US$20.1m, but this failed to offset sales growth, resulting in a US$1.29m profit for the company, compared to a US$309,000 loss in the 2021 financial year.