Cement News tagged under: Weekly Newsletter
Iraq ban challenges Iran cement industry19 May 2016, Published under Cement NewsThe Iraqi government has passed a bill banning the imports of Iranian cement to protect its domestic cement industry. Mohammad-Reza Lotfi, the deputy head of the Association of Cement Industry Entrepreneurs, said that Iran's cement exports to Iraq amounted to some 7Mt or around 60 per cent of Iranian exports last year. Mr Lotfi said that the only solution is to look for new markets, such as Azerbaijan, Pakistan and Afghanistan. |
Saudi Arabia: lifting of export ban to provide little cheer for cement producers?18 May 2016, Published under Cement NewsThe much-anticipated lifting of Saudi Arabia's ban on cement exports, first implemented in 2008 and extended in 2012, is expected to provide little relief for the country's cement producers, according to emerging market investment bank Arqaam Capital. Mohammed Kamal, executive director of equity research at Arqaam Capital said that export volumes would likely be capped at 20 per cent of output and potentially subjected to an export tax. The net effect should be margins erosion, which part... |
Tanzania: Tanga Cement seeks to cut costs as profits fall17 May 2016, Published under Cement NewsTanga Cement has said that it will concentrate on cutting costs in an effort to counteract falling revenues, the Citizen reports. The company, whose profit fell to TZS8.24bn (US$3.8m) in 2015, held its annual general meeting this week. Speaking at the event, Board Chairman, Lau Masha, said: "Improving operational efficiency and containing production costs continues to be a major focus for the company... we have spent a lot of money in the last few years so as to ultimately reduce costs an... |
Semen Indonesia to invest US$2.2bn over next five years16 May 2016, Published under Cement NewsSemen Indonesia President Director, Rizkan Chandra, has announced that his company is to invest IDR30tn (US$2.2bn) over the next five years. The funding will be split between existing operations, entry into new markets and downstream acquisitions. According to reports on Deal Street Asia, Semen Indonesia is looking to acquire majority interests in ready-mix and precast businesses. The firm is also planning to expand further afield and is considering its options in four countries, includin... |
Bolivia: Yacuses expected to produce cement in December16 May 2016, Published under Cement NewsWork on the 0.87Mta Yacuses cement plant, owned by Itacamba Cemento, in the Germán Busch province of Bolivia, 590km from Santa Cruz, has been completed by 70 per cent, according to the latest reports in the local press. First clinker is expected to be produced in November, with first cement leaving the production line in December. Equipment for the US$220m works was delivered by China-based Tianjin Cement Industry Design & Research Institute. |
Quarterly results disappoint as LafargeHolcim struggles to consolidate13 May 2016, Published under Cement NewsLafargeHolcim's results for the first quarter of 2016 have disappointed analysts as the company announced that EBITDA had fallen by 17 per cent on like-for-like terms compared to the same period in 2015. Despite volume sales of cement, aggregates and ready-mix all rising modestly, LafargeHolcim’s revenues were up just 0.1 per cent like-for-like. The firm cited "challenging" conditions in Nigeria, Brazil and India as the reason for slow growth. The market reacted negatively to the annou... |
LafargeHolcim: cement volumes up 1.4% but revenues flat12 May 2016, Published under Cement NewsIn its results for 1Q16, LafargeHolcim announced that cement volume sales rose by 1.4 per cent YoY with the Asia-Pacific region accounting for most of the improvement. Like-for-like revenues were almost unchanged on 1Q15, rising by just 0.1 per cent to stand at CHF6.062bn (US$6.244bn). In the earnings statement, LarfargeHolcim cited “challenging” conditions in Nigeria, Brazil and India as the reason for slow growth. The company also noted that the first quarter typically saw less activity... |
Cementir's 1Q16 revenue falls 1.1% to EUR218.9m12 May 2016, Published under Cement NewsCementir has announced that its results for the 1Q16, despite being lower than the previous year, are in line with management expectations and show a strong performance of operations in the Scandinavian countries, Malaysia and Egypt, which more than offset the lower earnings in Turkey and the difficulties encountered in Italy and China. The performance for the quarter was adversely impacted by the seasonal effect of the earlier Easter holidays with respect to the previous year, says Cementir... |
Belgium: cement consumption up 4.6% in 201511 May 2016, Published under Cement NewsBelgian cement demand increased 4.6 per cent YoY to 6,403,460t, according to Febelcem, the country's cement association. The rise was supported by good weather and a positive new housing market. The construction market saw a three per cent increase in both new residential building and renovation while public investment expanded by 5.7 per cent. Febelcem members delivered close to 4.9Mt while an additional 1.5Mt was imported as producers in nearby countries face declining domestic market... |
China: Asia Cement and CNBM halt Shanshui offer11 May 2016, Published under Cement NewsFollowing nine months of consideration, Asia Cement and CNBM have said they will not proceed with plans to buy the shares they do not already own in Shanshui Cement. In a statement issued 10 May, the two companies, which combined own nearly 38 per cent stake in the Chinese cement maker, said they have concerns regarding the changes in Shanshui’s board, ongoing disputes and financial difficulties. They said the prolonged suspension of the shares has affected the ability to determine the va... |