Cement News tagged under: Australia

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Boral announces new measures to control inventory levels

18 May 2020, Published under Cement News

The chief executive of Australia’s Boral Ltd, Mike Kane, has commented on the reduction of new orders in the Australian and US construction industries, and also announced new measures to stop the build-up of inventory levels in this environment. The company will now close its Berrima cement kiln in New South Wales (NSW) for three weeks in June, as Mr Kane noted it was not possible to run a kiln at partial strength. "You need to turn the kiln on or off,'' he said. The company is now exp...

Pandemic to seriously affect global cement trade

08 May 2020, Published under Cement News

At Cemtech's live webinar on the 'seaborne trade of cement and clinker' this week, Ad Ligthart of Cement Distribution Consultants, gave a sobering outlook on global trade in response to COVID-19 and the many government lockdowns that have been implemented worldwide.  "Seaborne trade of cement and clinker will be seriously affected," said Mr Ligthart, adding: "There will be a global reduction in cement consumption and the result of that for seaborne trade and distribution is that the drop w...

Moody's changes Boral's outlook to negative

08 April 2020, Published under Cement News

Moody’s Investor Service has changed its outlook on Australia’s Boral Ltd from stable to negative, while also affirming its Baa2 issue rating. "The change in outlook to negative reflects Moody’s expectation for weak earnings given a significant pull back in housing starts in both the US and Australia. In addition, Moody’s expects certain non-residential construction projects to be delayed or cancelled as a result of broad weakness in economic demand," said the investor service in a statem...

Adelaide Brighton pulls 2020 profit guidance

02 April 2020, Published under Cement News

Australia’s Adelaide Brighton has pulled its 2020 profit guidance due to the economic uncertainty resulting from the coronavirus pandemic, but noted it has AUD450m (US$274.55m) in cash and undrawn bank facilities. According to the company’s webpage, it still has no known cases of COVID-19 across its business. "All our 130+ locations remain open for business and we are well stocked with raw materials to meet the needs of all our valued customers. We’ll continue to meet with our customers to...

Australian contractors on the brink of collapse

19 March 2020, Published under Cement News

Australia's construction industry is said to be on the brink of collapse, according to John Holland's CEO, Joe Barr. The building contractor reported losses of US$1bn in February and is in dispute with Transurban over who should pay for cost blow-outs caused by delays on Melbourne's AUD6.7bn (US$1.79bn) West Gate Tunnel project. "I won’t sugarcoat it," Mr Barr told The Australian Financial Review. "Tier-one contractors in Australia are not making any money, and governments across Australi...

Adelaide Brighton sees revenue down 8% in 2019

27 February 2020, Published under Cement News

Australia’s Adelaide Brighton Ltd has reported a 74.5 per cent YoY fall in net profit to AUD47.2m (US$31.1m) for 2019, decreasing from AUD185.2m in the previous year. Revenue also declined 7.5 per cent to AUD1.517bn from AUD1.630bn. The company’s EBITDA was down 23 per cent to AUD271.6m from AUD352.8m in 2018. "In 2019, construction materials markets softened on the eastern seaboard of Australia, particularly in Queensland and New South Wales – driven by an oversupply of multi-residential ...

Boral posts lower 1H earnings

26 February 2020, Published under Cement News

Boral Ltd reported a statutory net profit after tax (NPAT) of AUD137m (US$90m) for the half-year ended 31 December 2019, after significant items of AUD20m. The half-year results reflects lower 1H earnings from Boral Australia and USG Boral due to cyclical declines in Australian and South Korean housing markets, partially offset by improvement initiatives. Volume pressures and higher costs also affected earnings of Boral North America. EBITDA of AUD439m and EBITDA from continuing operations ...

Refratechnik Group acquires QMAG

17 January 2020, Published under Cement News

The Refratechnik Group has entered into a share purchase agreement to acquire 100 per cent of QMAG Ltd, an Australian magnesia producer. QMAG (Queensland Magnesia) is a fully-integrated producer of high-quality magnesia products with mining and production in the state of Queensland, Australia, servicing global markets with a combined production capacity greater than 300,000Mta of high-grade electro-fused (FM), dead-burned (DBM), and caustic-calcined (CCM) magnesium oxide products. By the ...

Adelaide Brighton uses 1Mt of RDF at Birkenhead plant

13 November 2019, Published under Cement News

Adelaide Brighton has now used 1Mt of refuse-derived fuel (RDF) at its Birkenhead facility, South Australia, diverting 2Mt of waste from landfill sites. The Premier of South Australia, Steven Marshall, and Environmental Minister, David Speirs, visited the company last week to recognise the milestone. "Through the use of this alternative fuel, Adelaide Brighton's Birkenhead plant has achieved gains in efficiency and reduced consumption of natural gas by 25 per cent," said Nick Miller, CEO...

Votorantim

28 October 2019, Published under Cement News

Votorantim is among the companies believed to be interested in buying LafargeHolcim’s Australian and New Zealand divisions, according to The Australian. The cement giant is reportedly considering exiting the two countries in a bid to drive down debt levels. Cement Australia Pty Ltd and Cement Australia Partnership (CACAP) is the company that LafargeHolcim operates as in Australia. It currently operates two integrated plants at Railton, Tasmania and Gladstone, Queensland, and two grinding ...