Cement News tagged under: corporate
UNTHA to expand in Poland31 March 2020, Published under Cement NewsIndustrial shredder manufacturer UNTHA is predicting that 2020 will be the biggest year yet for its Polish subsidiary, as the waste market continues to boom. The shredding technology specialist first moved into Poland in late 2013, when a dedicated office was established in Krakow on the back of growing interest in UNTHA’s machinery – a relocation to Warsaw followed. While the country has attracted mixed views surrounding its approach to waste management over the last six years, it seems i... |
Vicat to revise 2020 outlook in view of coronavirus30 March 2020, Published under Cement NewsVicat has warned that while its 2020 outlook needs to be revised in terms of the potential impact of COVID-19 on the cement producer’s business, it is not able at this stage to provide a detailed and accurate assessment of how its markets and financial performance will develop during the course of the year. Adaptation measures have already been implemented, including a plan to reduce operating costs and defer non-strategic capital expenditure. |
Cevian builds CRH stake30 March 2020, Published under Cement NewsSwedish activist fund Cevian has bought further shares in CRH in less than a fortnight. The fund now holds a 3.145 per cent stake in the Ireland-based building materials producer. Cevian first purchased shares in CRH in February, calling for a simplification of the business, but has since appeared more supportive of the management. "When this [coronavirus outbreak] passes, CRH's fundamentals will still be strong, and the business well positioned to benefit from increased public construct... |
Dalmia Bharat suspends entire manufacturing capacity30 March 2020, Published under Cement NewsIndia’s Dalmia Bharat has suspended its entire 26.5Mta of cement manufacturing capacity as a result of the coronavirus, according to a press release. "We are continuously monitoring the situation and the immediate task is to ensure that the chain of transmission of COVID-19 breaks. We will decide to restart production once the lockdown is over, based on the directions of the state and central governments," said Mahendra Singhi, managing director and CEO. Although the plants have the requ... |
China Resources Cement sees 8% increase in net profit30 March 2020, Published under Cement NewsChina Resources Cement Holdings has reported an 8.1 per cent increase in net profit to HKD8.62bn (US$1.11bn) for 2019. Revenue inched up 0.4 per cent YoY to HKD38.96bn. The company attributed the improved profit margins to lower costs for cement sales. Since the company's principal business area is in mainland China, the yuan's weakness against the Hong Kong dollar in 2019 lowered the company's revenue in HKD terms. |
DG Khan suspends operations at Kofli Sattai and Khairpur plants30 March 2020, Published under Cement NewsIn view of the measures to fight the spread of COVID-19 including the current lockdown by the authorities, Pakistan-based cement producer DG Khan will temporarily suspend the plant operations at Kofli Sattai, Dera Ghazi Khan, and Khairpur, Chakwal, in Punjab, with immediate effect, said the company in a Pakistan Stock Exchange filing. The two plants have a total production capacity of 4.22Mta. State support Meanwhile, Pakistan Prime Minister Imran Khan reiterated that he is against the c... |
Grupo Argos to cut costs by nearly US$245m in 202030 March 2020, Published under Cement NewsColombia’s Grupo Argos, parent of Cementos Argos, is expected to defer investments and cut spending by nearly COP1trn (US$245m) this year, amid uncertainty about the economic impact of the coronavirus, according to Reuters. The group will postpone investments of COP700bn and cut costs by COP250bn. The measures will hit certain expansion projects, as the company looks to protect jobs and ensure its sustainability. "Today we have taken measures to postpone investments ... they haven't b... |
Cemex completes Castillejo access work30 March 2020, Published under Cement NewsCemex has finalised the upgrade work on the access roads to the Huerta de Valdecarábanos quarry and the crushing area of its Castillejo plant in Toledo. The company placed some 450m 3 of rolled compacted concrete (RCC) to prevent dust and mud emission as well as improving access for vehicles. RCC can be installed using the usual asphalt equipment and does not require special equipment. The concrete is made in mixing plants with very low water-cement ratios. The Castillejo plant expects... |
LafargeHolcim implements coronavirus action plan27 March 2020, Published under Cement NewsLafargeHolcim has announced the implementation of its action plan regarding the coronavirus pandemic, stating that it is closely monitoring all markets and the guidance provided by the authorities in each country. "In China, the recovery of the construction sector has started and all our plants outside of Hubei Province are operating. We forecast the market demand to further recover and to supply 70 per cent of last year’s volume in April 2020. In most of the other key markets, the constr... |
Votorantim Cimentos records 3% rise in 2019 revenue27 March 2020, Published under Cement NewsBrazil-based Votorantim Cimentos has seen a three per cent rise in consolidated net revenue to BRL13bn (US$2.61m) in 2019, compared to BRL12.6bn recorded in the previous year. Consolidated EBITDA saw a modest increase of one per cent YoY to BRL2.7bn from BRL2.6bn, with a margin of 20 per cent (21 per cent in 2018). Brazil Net revenue in the company’s domestic market was up four per cent from BRL6.6bn in 2018 to BRL6.8bn in 2019, mainly due to higher volumes and prices in the cement market... |