Cement News tagged under: COVID-19
ACC sees net profit fall 7% in 1Q2022 April 2020, Published under Cement NewsIndia’s ACC (LafargeHolcim) has seen its consolidated net profit fall 6.6 per cent YoY to INR3.23bn (US$42.13m) in the first quarter of 2020. Its net sales decreased 10.8 per cent to INR34.33bn from INR38.49bn. However, its EBITDA advanced 10 per cent YoY to INR5.86bn in the 1Q20, compared with INR5.32bn in the year-ago period. The company’s cement volumes during the January-March period dropped 12 per cent YoY to 6.56Mt from 7.46Mt, while ready-mix volumes remained flat at 0.93Mm 3 . "U... |
Bestway Cement donates PM's Corona Fund22 April 2020, Published under Cement NewsMuhammad Irfan A Sheikh, CFO of Bestway Cement Ltd, met Pakistan's Prime Minister, Imran Khan on 20 April and contributed PKR205m (US$1.28m) in PM's Corona Fund on behalf of the group and his family to support the government in its efforts to fight the current coronavirus-related crisis. On the occasion, PM Imran Khan lauded the spirit shown by the Bestway Group and Irfan Ellahi for the relief fund. Bestway Group valiantly enlists businesses in Pakistan as the largest cement manufacturer (... |
Tyre burning project for Caribbean Cement put on hold21 April 2020, Published under Cement NewsThe coronavirus pandemic has halted a key project for Caribbean Cement Co to remove and incinerate between 1.5-2m tyres from the Riverton City landfill. A memorandum of understanding (MoU) between the country's government and Caribbean Cement was signed last July to see the removal of the environmentally-hazardous tyres from the landfill. During the pilot stage last December 6000 tyres were burnt by the cement company in 11 days, but with the onset of COVID-19, the project has been put on... |
Coronavirus impacts Pakistani cement trade21 April 2020, Published under Cement NewsThe exports of clinker and cement from Pakistan to Afghanistan, Bangladesh, Sri Lanka and rest of the world have been impacted by the lockdown, curfew and other measures to stop the spread of the coronavirus in these countries. This was disclosed by Irfan Amanullah, senior general manager, Attock Cement Pakistan Ltd (ACPL), during a presentation of Cement Sector Outlook, organised by BMA Capital in Karachi. He attributed the disruption due to a number of reasons and said no exports were be... |
Attock Cement resumes production at Hub21 April 2020, Published under Cement NewsAttock Cement Pakistan Ltd has informed Pakistan Stock Exchange Ltd (PSX) on 20 April that subsequent to the partial removal of the lockdown by Federal and Provincial Governments, the company has partially commenced its plant operations with immediate effects at Hub Chowki, Lasbela in Baluchistan Province. The company operates three production lines at Hub that have total capacity of 2.955Mta of cement. Attock Cement Pakistan Ltd previously halted production on 26 March to meet government r... |
Fauji Cement 9M profit drops 88%21 April 2020, Published under Cement NewsPakistan-based Fauji Cement Co Ltd (FCCL) saw its 9MFY19-20 profit, for the period ended 31 March 2020, fall 88 per cent to PKR271m (US$1.7m) when compared with the year-ago period as sales declined due to the impact of COVID-19. The company’s topline contracted by 25 per cent YoY to PKR3.93bn in the 3QFY19-20 as dispatches shrank by two per cent to 706,000t and prices softened. Domestic sales fell by 10 per cent YoY to 623,000t, according to Pakistani new service The News. The 3Q result... |
Peru's cement producers see impact of COVID-19 crisis21 April 2020, Published under Cement NewsThe energy demand of Peruvian cement mills has reportedly fallen more than 90 per cent in recent weeks due to lower utilisation rates as a result of the COVID-19 pandemic. "They have temporarily suspended their operations and that of their subsidiaries. Plants are running to a minimum, just a few furnace maintenance issues," said Flor Felices, analyst at Intéligo SAB. The impact of the coronavirus on the construction industry has reduced cement demand. As a result, Unacem has projected... |
Indian manufacturers prepare to resume production21 April 2020, Published under Cement NewsIndia’s ACC, India Cements, JK Lakshmi and JK Cement are looking to resume cement production in a phased manner from 20 April, while also abiding by all standard operating procedure guidelines related to social distancing. In new guidelines issued on 15 April, the Indian government has allowed industrial units located in rural areas to operate from 20 April. "We would like to inform that the company shall resume operations, from 20 April 2020, in a phased manner, subject to requisite p... |
US cement consumption to drop 30.9 per cent in second quarter20 April 2020, Published under Cement NewsThe US cement consumption will drop 30.9 per cent in second quarter, according the Ed Sullivan, Chief Economist, Portland Cement Association (USA). Sullivan was speaking during the Cemtech Live Webinar on 15 April 2020, which was attended by over 400 participants from the global cement industry. Sullivan was due to speak at the IEEE-IAS/PCA Cement Conference in Las Vegas, Nevada on 20 April, but the event was cancelled due to the COVID-19 pandemic. Watch the full presentation here |
China’s cement industry expected to lead economic recovery20 April 2020, Published under Cement NewsAn accelerated recovery in the Chinese construction industry is driving the country’s cement sector to resume operations. With a positive outlook this year, analysts said the sector could lead the rebound across multiple industries, reports the Global Times. As a result of the coronavirus pandemic, cement output in China fell by 23.9 per cent YoY to 299.07Mt in the first quarter of 2020, according to data from the National Bureau of Statistics. In March production declined 18.3 per cent Y... |