Cement News tagged under: South Asia
Sharp rise in Indonesian cement demand in June23 July 2020, Published under Cement NewsCement consumption in Indonesia rose by 29.2 per cent YoY to 4.86Mt in June 2020, according to Widodo Santoso, chairman of the Indonesian Cement Association (ASI). "This is because last year there were the effects of Ramadan and Eid, so consumption was limited," he said. The easing of large-scale social restrictions (PSBB) in a number of regions and the relaxation of credit disbursement by multifinance companies led to an increase in people's purchasing power. However, the rise in June... |
Holcim Philippines expected to remain within group23 July 2020, Published under Cement NewsFollowing the lapse of sale agreement with San Miguel Corp earlier this year, Holcim Philippines is now expected to remain within LafargeHolcim, according to the company's CEO, John Stull, in an annual meeting on Wednesday. "We are very pleased to know that we are no longer in the sales process and we're very excited about the future working with one of the largest and most successful companies in the building material sector and we're happy to remain part of the group," said Mr Stull. Th... |
Eagle Cement Corp will pursue expansion plans21 July 2020, Published under Cement NewsEagle Cement Corp will pursue its expansion plans despite the impact of the coronavirus pandemic. Expansion-related capital expenditures will continue while spending for non-critical projects and activities "will be trimmed," said Eagle president and CEO, Paul Ang. "Our strong financial position will allow us to weather this health crisis battering the economy without giving up major components of our expansion plans, which will secure our future growth," Mr Ang said. For this year, Eagl... |
thyssenkrupp Industrial Solutions relocates Asia Pacific cement business HQ to Vietnam17 July 2020, Published under Cement NewsthyssenKrupp Industrial Solutions has moved is Asian-Pacific headquarters to Hanoi in Vietnam. The company has more than 80 employees in its Vietnam office with further regional offices in Singapore, Indonesia, the Philippines and Thailand. "Considering that Vietnam is the largest market in terms of cement production in our dynamic and growing Asia Pacific region," says Pablo Hofelich, CEO of thyssenKrupp's Cement Technologies. "I am convinced of the success of this strategic move to bundle... |
Eagle Cement Corp aims to complete Bulacan expansion in 202016 July 2020, Published under Cement NewsPhilippine-based Eagle Cement Corp is now looking to complete its 2Mta Bulacan plant expansion before the year ends, following delays related to the COVID-19 pandemic. "This plant was supposed to have been turned over and commissioned this second quarter of this year. But because of the pandemic, management is committing to deliver this plant by end quarter of this year," said John Paul Ang, Eagle Cement president and CEO. The company’s CFO, Monica Ang, also noted that the company has r... |
Emami Cement sale is completed by Nuvoco Corp15 July 2020, Published under Cement NewsEmami Ltd said on Tuesday that the group has completed sale of Emami Cement to Nuvoco Corp Ltd for an enterprise value of INR55bn (US$724.83m). “The deal was completed with the transfer of 100 per cent shares of Emami Cement shares to Nuvoco Corporation Ltd (NVCL) by Emami Group today,” it said in a stock market notification. Emami Cement has a production capacity of 6.8Mta as well as a 2.5Mta plant under construction in Kalinganagar, India. |
Solusi Bangun Indonesia reviews its capex after challenging 2Q2010 July 2020, Published under Cement NewsSemen Indonesia-owned Solusi Bangun Indonesia (SBI) is reviewing its capital expenditure plans for 2020 due to the coronavirus pandemic, according to Bisnis. "The current conditions are still very dynamic, which depends on the corona virus which is still ongoing. Many government projects, such as from the Ministry of Public Works and Public Housing (PUPR), have not been running because of it " the company’s President Director, Aulia Mulki Oemar, said. While the company had prepared a IDR50... |
Petra Cement starts commercial operation of Gebr Pfeiffer mill07 July 2020, Published under Cement NewsPetra Cement Inc of the Philippines successfully brought on line in early December a Gebr Pfeiffer ready2grind system, on the Mindanao archipelago and more precisely in the region of the Zamboanga Peninsula. The plant is now in commercial operation. The order was a greenfield project, in which the geographical circumstances in the Philippines had to be taken into account during the initial stage of planning. These were the rainfalls varying with the seasons and producing constant tropical p... |
Pan-United signs MoU to reduce Singapore's CO2 emissions03 July 2020, Published under Cement NewsPan-United, Keppel Data Centres, Chevron and Surbana Jurong, with the support of the National Research Foundation, have signed a Memorandum of Understanding (MoU), committing to harness their combined resources and jointly develop the first end-to-end decarbonisation process in Singapore. This collaboration is aimed at accelerating the development of a highly-integrated clean and energy efficient carbon capture, utilisation and sequestration (CCUS) system that can lead to a low-carbon econo... |
Malaysia’s CMS sees 64% drop in net profit02 July 2020, Published under Cement NewsMalaysia-based Cahya Mata Sarawak Bhd (CMS) reported a 32.5 per cent drop in revenue to MRY282.5m (US$65.9m) in the first quarter of 2020. Its cement segment saw revenues fall by 17.9 per cent to MRY120.2m and was the least-affected part of the business. Profit before tax declined 57.1 per cent YoY to MYR32.7m with the cement segment being the only one to record a profit. CMS’s cement business saw a 69 per cent rise in profit before tax to MYR144.7m. This resulted in a cement profit margin... |