Cement News tagged under: south Asia
Holcim Philippines to streamline corporate structure24 November 2020, Published under Cement NewsThe board of Holcim Philippines Inc (HPI) has approved the merger of three majority-owned subsidiaries (Bulkcem Philippines Inc, Mabini Grinding Mill Corp and Holcim Philippines Manufacturing Corp) into the company to streamline corporate structure. The company is now expected to hold a special stockholders’ meeting on 15 January 2021 for the approval of the transaction. Bulkcem Philippines currently leases its Iloilo bulk terminal to HPI, while Mabini Grinding Mill Corp leases its gri... |
Taiheiyo Cement plans PHP15bn expansion project13 November 2020, Published under Cement NewsTaiheiyo Cement is planning to invest PHP15bn (US$309.3m) to expand production at its plant in Cebu, Philippines. The company’s local subsidiary will construct a new line and expand shipping bases to Luzon, Iloilo, and Davao, according to a Department of Trade and Industry (DTI) press release. The company is also expected to install a 2km-long marine belt conveyor and expand its port in Cebu. The project, already underway, is anticipated to expand cement production capacity by 50 per cent... |
Eagle Cement Corp sees net sales down 16%12 November 2020, Published under Cement NewsPhilippine-based Eagle Cement Corp has reported a net profit of PHP1.4bn (US$28.96m) in the 3Q20, remaining unchanged from the year-ago period. However, its net sales were down 16 per cent YoY to PHP4.1bn. "The resumption of major infrastructure projects and retail segment boosted sales. We are optimistic that fourth-quarter results will be better as more sectors of the economy are reopened," said Paul Ang, president. Eagle Cement’s nine-month net sales declined 35 per cent to PHP10bn ... |
Long Son Cement to commission third line in December11 November 2020, Published under Cement NewsThe third production line of Vietnam’s Long Son Cement, based in the central province of Thanh Hoa, is expected to be put into operation in December 2020, with a design capacity of 2.5Mta, according to Vietnam News. The construction of the line began in October 2019 and represents an investment of VND4trn (US$172.41m). Upon completion, the capacity of Long Son will reach 7Mta. |
Republic Cement forecasts recovery for next year06 November 2020, Published under Cement NewsNabil Francis, president and chief executive officer of Philippine-based Republic Cement, expects the country’s cement market to decline by 15 per cent YoY this year, before bouncing back in 2021. "In 2021, we will get back to 35Mt for the total market, which is more or less the level that we reached in 2019," said the CEO at an Aboitiz virtual media briefing. "Definitely, it's going to be boosted by the ambitious infrastructure programme – the 'Build, Build, Build' programme of the go... |
Vietnam's export volumes fall 5% in October02 November 2020, Published under Cement NewsVietnam is estimated to have exported 3.2Mt of cement and clinker worth US$126m in October, down 4.8 per cent in volume and five per cent in value YoY, according to the General Statistics Office data released on 29 October. In the first 10 months of 2020, the country is estimated to have exported 31.45Mt of cement and clinker at a value of US$1.17bn, up 18.2 per in volume and 5.6 per cent in value. |
Siam Cement reports 57% rise in profit for 3Q2029 October 2020, Published under Cement NewsThailand’s Siam Cement saw a 57 per cent YoY rise in consolidated net profit to THB9.74bn (US$311.6m) for the third quarter of 2020, with the result attributed to an 80 per cent increase in chemicals profit and increased efficiencies from its cement segment. However, consolidated revenue declined nine per cent YoY to THB100.94bn due to a fall in chemicals selling prices. For the first nine months of 2020, profit rose five per cent YoY to THB26.10bn on the back of an improved contributi... |
CeMAP appeals the reduction of import safeguard duty27 October 2020, Published under Cement NewsThe Cement Manufacturers Association of the Philippines (CeMAP) has submitted an appeal to the Department of Trade and Industry (DTI), asking it to postpone the reduction of the PHP10/bag (US$0.21) safeguard duty and instead raise it to PHP12/bag. Under a DTI order made on 27 August 2019, the PHP10/bag definitive safeguard measure on imported cement from specific countries will decrease by PHP1/bag each year until the third year. Therefore, the duty was due to go down to PHP9/bag by 22 No... |
San Miguel looks to increase plastic waste consumption23 October 2020, Published under Cement NewsPhilippines-based San Miguel Corp (SMC) is reportedly buying more plastic wastes to fuel its cement plants. "It's a more environment-friendly and sustainable alternative to using traditional fuels," said Ramon Ang, president and COO of SMC, in a statement. The initiative comes after the company’s launch of a series of sustainability efforts, which include discontinuing its plastic bottled water business, building the country's first recycled plastics road and spending PHP1bn (US$20.64m... |
Construction due to begin on 2.3Mta Dai Duong plant20 October 2020, Published under Cement NewsVietnam's Ocean Minerals Investment JSC is expected to commence the construction of Dai Duong cement plant on 22 October, with the project representing a total investment of VND9trn (US$388m) in the central province of Thanh Hoa. The first phase will include the construction of Dai Duong No 1 with an investment of VND4.3trn, which will be complete after 18 months and have a capacity of 2.3Mta. The People’s Committee of Thanh Hoa gave an in-principle nod to the investor in March 2019, a... |