Cement News tagged under: COVID-19
Argos delivers masks and biosafety kits17 July 2020, Published under Cement NewsArgos 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 best allies to our customers," said Tomás Restrepo, vice president of Argos Colombia region. |
Votorantim reduces production at Oural15 July 2020, Published under Cement NewsVotorantim-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 clinker in particular as the company will continue to bag and distribute cement as the market requi... |
South African cement sector is operating in survival mode13 July 2020, Published under Cement NewsBheki Mthembu, head of the inland business unit of PPC, says the lack of large-scale construction projects in South Africa has left cement producers heavily dependent on residential construction. "The sector has had issues for a while and government needs to support us through infrastructure maintenance and other projects. We were in survival mode and COVID-19 almost served as the final nail in the coffin," said Bheki Mthembu. "There is a very small piece of cake that everyone ... |
Bamburi Cement donates KES15.6m in the fight against COVID-1913 July 2020, Published under Cement NewsBamburi Cement (LafargeHoldim group) has donated KES15.6m (US$145,600) in the fight against coronavirus to the Kenyan government's COVID-19 Emergency Response Fund. KES5m of the donation is a direct cash contribution for immediate assistance, KES5.2m is directed at personal protective equipment (PPE) and KES2.4m will support communities in Mombasa, Kilifi, Machakos, Kwale and Kjiado which need water tanks for hand washing, face masks and hand sanitisers. A further KES3m is set aside for f... |
HeidelbergCement revaluates business units with impairment test07 July 2020, Published under Cement NewsDue to the COVID 19 pandemic, HeidelbergCement AG has reviewed the business prospects of all significant local business units of the group, and has carried out an impairment test on its asset portfolio in the 2Q20. The audit leads to an impairment of goodwill and tangible fixed assets shown in the consolidated balance sheet totalling around EUR3.4bn (US$3.8bn) before tax. Regionally, the impairments relate mainly to business units in western and southern Europe (UK, France, Belgium, The ... |
The impact of COVID-19 on global cement trade06 July 2020, Published under Cement NewsGlobal cement and clinker trade will be seriously affected by the economic downturn caused by the coronavirus pandemic. There will be a global reduction in cement consumption. Seaborne cement trade and distribution will take an even larger hit. It is still too early to accurately forecast the reduction in seaborne cement and clinker movements. What can be done, however, is to look at the economic mechanisms behind trade and distribution, and use this as a tool for a general forecast. We also... |
Jordanian Cement Factories files for insolvency06 July 2020, Published under Cement NewsThe Jordanian Cement Factories Co has announced that it will file for insolvency on the back of adverse financial conditions, worsening as a result of the COVID-19 pandemic, according to The Jordan Times. As a result, the company has partially halted sales, collection and production. The company’s management had worked on a road map to restructure the company to increase sales, production and operational efficiency. However, the negative economic impact caused by the pandemic has impeded ... |
Preparing for a financial crisis30 June 2020, Published under Cement NewsDr Michael Clark looks at how the global health emergency of the COVID-19 pandemic is expected develop into a financial crisis, and the potential impacts of this for the cement industry. By looking back over the past 30 years, we can see the effects the Asian financial crisis and the global financial crisis had on the sector. With this in mind, what can we expect in the near future? The Asian financial crisis originated in Thailand and was fuelled by credit extensions made to suppo... |
Cemex cancels El Musel project due to COVID-1930 June 2020, Published under Cement NewsCemex is cancelling its terminal project that would see the company import 150,000tpa of cement via the Ingeniero Olano dock in El Musel, Gijón, Spain. In February 2019 Cemex applied for a concession at the Olano quay to unload cement to build two storage silos and a bagging plant, representing an investment of approximately EUR5m. Forecasts at the time expected 50,000t of cement to be imported in the first year to 150,000t from the sixth year. The concession was granted after 10 months. ... |
Indian cement demand recovers after lockdown26 June 2020, Published under Cement NewsFollowing the lifting of the coronavirus lockdown in several Indian states, the country’s cement industry is witnessing some pick-up in demand, according to Livemint. Research into the cement dealers’ channel by various brokers has shown that pent-up demand is supporting capacity utilisation levels with rural areas expected to provide a further rise in sales going forward. “Rural and pent-up demand has led to higher-than-expected volumes in May-June 2020 and the industry could just suffe... |