Cement News tagged: International
Saudi Arabia: Qassim Cement sees 6% rise in 3Q profit
Saudi-based producer Qassim Cement reported a six per cent rise in third-quarter profit to SAR115m (US$30.7m), versus SAR109m in the same quarter of last year, according to a bourse filling. For the first nine months of this year, net profit reached SAR445m, up four per cent from the SAR429m recorded in the the corresponding period of 2014. The rise in profit is attributed higher sales both ...
Vietnam may fall short of full-year export target
Vietnam’s cement sector is unlikely to fulfill this year’s export target of over 20Mt of cement and clinker, the Vietnam National Cement Association (VNCA) said. Cement and clinker producers in the country will likely export between 15-16Mt by year end, versus 20.5Mt in 2014, the Xay Dung online newspaper cited the association as saying Wednesday. In the first nine months of this year, the s...
Preliminary Pakistan data indicates September sales decline
Total cement industry dispatches in the month of September 2015 have decreased by eight per cent YoY, dragged down by a steep fall in exports, according to provisional cement sales figures. The data from an InvestCap Research report, published in The Express Tribune (Pakistan), indicated that sales were down to 2.9Mt versus 3.2Mt in September 2014. Compared to August 2015, September sales wer...
Aalborg welcomes decision to phase out NOx tax
Following Denmark's Budget 2016 announcement, domestic cement producer Aalborg Portland has “warmly” welcomed the government's decision to phase out the NOx tax from 1 July 2016. “It is indeed very good news and a very positive message for us as energy-intensive business that the Government proposes a removal of a Danish special fee which none of our competitors are subject to. It is a stron...
HSBC lowers China Resources Cement target price
HSBC Global Research lowered its target price for China Resources Cement to HKD4.30 from HKD4.40 and maintained its "hold" rating. CRC recently said that based on the preliminary assessment of the group’s unaudited consolidated management accounts for the nine months ended 30 September 2015, attributable profit during the period is expected to "significantly decrease" as compared with that...
Thai 3Q consumption likely to be flat - report
Cement consumption in Thailand is likely to be rather flat in 3Q15 and 9M15, according to a report by Bualuang Securities focussed on domestic cement major Siam Cement Co (SCC). Last week, the research house accompanied SCC's management and IR team to meet investors in Germany, Switzerland and France. The information gathered during the non-deal roadshow (NDR) gave Bualuang a clearer picture...
Limak embarks on Mozambique plant project
Limak Holding has laid the foundation stone for a grinding and packing plant in Maputo, Mozambique, a move that forms part of the Turkish company's vision to become a global cement player. The new facility is scheduled to come into operation in the first quarter of 2016. The company is also set to lay the foundations for a grinding plant in Cote d'Ivoire next month, according to local press r...
Votorantim studies Sobral waste fuel option, Brazil
Currently developing its second factory in Sobral, Votorantim Cimentos is studying the possibility of using solid waste as fuel in a new venture in the city. The idea was presented during a meeting between company directors and the governor Camilo Santana, and secretaries and the president of the Ceará State Development Agency (Adece), Ferruccio Feitosa. The government, moreover, was favou...
CREDAI files complaint with India regulator
The Confederation of Real Estate Developers’ Associations of India (CREDAI) has filed a complaint with the Competition Commission of India (CCI) against cement manufacturers for the alleged manipulation of cement prices. In its submission to the Commission, CREDAI has pointed out that the cost of raw materials used in manufacturing cement has fallen between January and September this year, y...
EPA settles case with Cemex Puerto Rico
The US Environmental Protection Agency announced that Cemex Puerto Rico will spend an estimated US$1.7m on pollution control measures to reduce NOx emissions from its plant in Ponce. In addition, the company will pay a US$160,000 penalty for Clean Air Act violations. The settlement addresses modifications Cemex made to its cement plant without obtaining the proper permit, as required by the ...
Hanson Building Products announces name change to Forterra
Hanson Building Products has changed its company name to Forterra, following a recent divestment by former owners HeidelbergCement. The rebranding brings with it a new logo and a fresh identity to the established business, which has a trading history spanning back several decades, while its wide selection of products and services will be unchanged, according to the company. Stephen Harrison,...
Argentina's total cement sales increase 7% YoY September
Total cement sales increased 14.9 per cent MoM and seven per cent YoY to 1.128Mt in September, according to AFCP, the Argentine cement producers’ association. In the domestic market, around 1.131Mt was dispatched – up 15.7 per cent MoM and 8.2 per cent YoY. While exports fell 46 per cent from 8863t in September 2014 to 4780t in September 2015, MoM they registered a 15 per cent rise. ...
Sino Zimbabwe cuts prices to boost market share
Sino Zimbabwe has reduced the price of its cement products by 20 per cent to increase market share, according to reports by the Financial Gazette’s Companies & Markets. General Manager, Wang Yong, said they had reduced the price of PC15 cement from US$10 to US$8/50kg bag, with the hope that the new strategy will boost sales going forward. Sino-Zimbabwe Cement Company is a joint venture bet...
US Jan-July cement shipments reach 50Mt
Total shipments of Portland and blended cement in the United States and Puerto Rico for the year through July totalled 50Mt, up by 3.4 per cent in the same period in 2014, latest data from the US Geological Survey shows. In July shipments reached 9.3Mt, up slightly from the level in July 2014. The leading cement-consuming states (Texas, California, Florida, Ohio and Illinois in descending ...
Colombian cement consumption rises 8.6% YoY in August
Colombia’s cement market expanded by 8.6 per cent YoY in August to 1.108Mt on the back of increased demand from construction companies and contractors (+21.4 per cent) and ready-mix firms (+9.7 per cent) which accounted for 6.3 percentage points of the increase, according to national statistics office DANE. Key growth areas during the month were Cesar (+35.2 per cent), Nariño (+26.2 per cen...
LNG-powered dedicated cement carrier to be launched
The first cement carrier to run on LNG is to be launched at the yard of Ferus Smit, Westerbroek, The Netherlands (y/n 423) on 31 October and be named the Greenland. The vessel will be of 5800dwt and is being built for Thun Shipmanagement, Lidköping, Sweden. She will be operated by JT Cement, a joint venture between KG Jebsen of Norway and Eric Thun of Sweden.