Global Cement News
Search Cement News
ScanChain opens new Polish plant 27 March 2020
Poland: Denmark-based chain specialist ScanChain has announced that it will be producing and distributing chains from a new facility located in Poznan in the province of Greater Poland. The company says it has ended its partnership with a partial ownership by UK-based John King Chains.
Scan Chain said “Over the past three years we have seen a great growth in new markets. We are pleased that both ScanChain and John King Chains wish to establish a strong link going forward.”
Cemex shuts up shop in Panama and Colombia 26 March 2020
Colombia/Panama: Mexico-based Cemex has announced the suspension of production at all of its plants in Panama and those of its Colombian subsidiary Cemex Latam Holdings from 25 March 2020. It said it ‘may resume certain activities on or before 13 April 2020,’ according to Noticias Financieras News. The NAFTA 2.0 newspaper has included Cemex on a list of Mexico’s companies most exposed due to a large European presence to the impacts of the coronavirus there. Europe is the second-largest market for Cemex’s products, generating 24% of its revenue in 2019.
China: Jiangxi Wannianqing Cement’s net profit in 2019 was US$197m, representing a 20% year-on-year increase from US$164m. Reuters has reported that on 15 November 2019 Jiangxi Wannianqing Cement paid US$82.6m for a lease and limestone exploration rights for land in De’an County, Jiangxi Province, previously held by Fushan Cement. On 25 June 2019 the company received US$23.3m in government compensation for the relocation of its Wannian cement plant.
Spain’s cement producers unite against coronavirus waste 26 March 2020
Spain: Members of the Spanish cement association Oficemen have offered help to the government in the disposal of medical waste contaminated with the coronavirus, for which any kiln line with the right alternative fuel processing capabilities will be made available. Minister for Industry Reyes Maroto said that the plants will be used for waste’s elimination ‘only insofar as companies can continue operating.’
Egypt: Sinai Cement’s net loss in 2019 was US$28.1m, down by 44% year-on-year from US$50.2m in 2018. Arab Finance News reported that the company attributed the loss to accumulated effects of currency devaluation on imported fuel and to rises of electricity and oil prices.
