Cement News tagged: Corporate

Eagle Cement Corp will pursue expansion plans

21 July 2020, Published under Cement News

Eagle 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 compon...

Orient Cement evaluates COVID-19 impact on operations

20 July 2020, Published under Cement News

India's Orient Cement Ltd estimates that it lost around 225,000t of cement sales towards the end of the FY19-20 due to the COVID-19 pandemic, which may have an impact of up to INR300m (US$4m) on its EBITDA. However, the company also noted that it doesn't anticipate any challenges in meeting its financial obligations going forwards.  

thyssenkrupp Industrial Solutions relocates Asia Pacific cement business HQ to Vietnam

17 July 2020, Published under Cement News

thyssenKrupp 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...

Holcim Argentina appoints new commercial director

17 July 2020, Published under Cement News

Holcim Argentina has named Victor Mariaca as new commercial director. Mr Mariaca held previously commercial positions within Holcim, including regional commercial manager. He has also led commercial development at Grupo Herdez and Clorox in Mexico. "I am very happy to assume this new position, I hope I can contribute my experience to help the company achieve its objectives in this great co...

Argos delivers masks and biosafety kits

Argos delivers masks and biosafety kits

17 July 2020, Published under Cement News

Argos has been delivering 23,000 face masks to construction and hardware customers throughout Colombia as well as biosafety kits to business customers. The biosafety kits consist of thermometers and floor charts, for social distancing, and a digital application to monitor health conditions at points of sale to prevent the spread of COVID-19. "At Argos we have the firm intention of being the ...

Eagle Cement Corp aims to complete Bulacan expansion in 2020

17 July 2020, Published under Cement News

Philippine-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,...

Oman Cement sees 9% decline in 1H20 profit

Oman Cement sees 9% decline in 1H20 profit

16 July 2020, Published under Cement News

Oman Cement Co has reported an 8.7 per cent decline in net profit after tax to OMR2.1m (US$5.46m) for the first half of 2020, compared to OMR2.3m in the 1H19. However, the company’s total revenue edged up 1.1 per cent to OMR26.4m from OMR26.1m.

Cemex confirms decision to close Ferriby plant

17 July 2020, Published under Cement News

Following consultations with employee representatives and Unite the Union, Cemex has confirmed that it will be mothballing its South Ferriby plant in north Lincolnshire, UK. Approximately 110 employees who are currently based at the plant will be affected, with the majority of redundancies said to be taking place in July, according to a statement. However, customers will continue to be supp...

HeidelbergCement's preliminary 2Q20 results above market expectations

16 July 2020, Published under Cement News

In the course of preparing the 1H20 financial report of HeidelbergCement AG, the preliminary 2Q20 financial figures deviate from the capital market expectations, which are based on the average value of the estimates available to the company from financial analysts. Therefore, HeidelbergCement is publishing the following preliminary 2Q20 key figures from the half-year financial 2020 report: • ...

Siberian Cement plants increase 1H output 4%

17 July 2020, Published under Cement News

In the first half of 2020 Siberian Cement (Sibcem) produced 2.2Mt of cement, representing a four per cent YoY increase. Topkinsky Cement’s output rose by one per cent to 1Mt, while Iskitimcement increased its production by eight per cent to 453,800t. Production from Angarskcement was up nine per cent to 288,700t and TimlyuyCement output remained stable at 165,100t. “For the cement industry, ...

Votorantim reduces production at Oural

15 July 2020, Published under Cement News

Votorantim-owned Oural cement plant in Spain will considerably reduce its cement production as a result of falling demand from the construction sector due to the COVID-19 pandemic. The cement producer has seen a significant fall in its sales in Spain and industry sources expect the sector to see a decline of 20 per cent for the full year. The decision will see a reduction in the production of...

Emami Cement sale is completed by Nuvoco Corp

15 July 2020, Published under Cement News

Emami 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....

Yanbu Cement appoints new chairman

14 July 2020, Published under Cement News

Yanbu Cement Co has appointed Fahd Bin Soliman Al Rajhi as chairman of the board, reports Reuters.  Mr Al Rajhi served since 2017 as deputy chairman of the Saudi-based cement producer and is also vice chairman of Sahara International Petrochemical Co.

Ambuja Cements reports 12% increase in net profit

13 August 2020, Published under Cement News

India’s Ambuja Cements reported a 12 per cent YoY rise in consolidated net profit to INR5.54bn (US$73.73m) for the quarter ending 31 March, with sales volumes falling 10 per cent to 5.77Mt. The company also noted that its greenfield expansion project at Marwar Mundwa, Rajasthan, is on schedule and expected to commence operations by next year. Elsewhere, Ambuja Cements is set to digitise its...

Southern Province Cement names new CEO

13 July 2020, Published under Cement News

Saudi Arabia’s Southern Province Cement has named Aqeel Futis Kadasa as its new CEO, effective from 12 July 2020. The appointment follows the resignation of Safar Mohammad Dhufayer on 11 July. Mr Kadasa began working for Yamama Cement and then the Saudi Electricity Company before joining Southern Province in 1997, where he later became deputy CEO for industrial services.

Solusi Bangun Indonesia reviews its capex after challenging 2Q20

10 July 2020, Published under Cement News

Semen 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 ...