Cement News tagged under: COVID-19
CMIC president warns that workers may soon lose salary17 April 2020, Published under Cement NewsThe national president of the Mexican Chamber of the Construction Industry (CMIC), Eduardo Ramírez Leal, has warned that the minimal operation of smaller construction companies will result in around 500,000 workers in the sector losing income at the end of April. "In the next 15 days, it's when a lot of workers are no longer going to be getting paid because their employers won't have to pay them," said Mr Leal. The chamber represents 12,000 construction companies across the country. "I... |
Five Pakistan cement producers to release 3Q results amid coronavirus pandemic17 April 2020, Published under Cement NewsPakistan's leading cement companies are scheduled to announce on 23 April their financial results for the 3QFY19-20 ended 30 March 2020. Analysts anticipate mixed results, carrying some negative reflection of mitigation efforts to stop the spread of the coronavirus in the country. During this accounting period, the pandemic started to spread and the government enforced lockdown to control it in all provinces, aiming social distancing. This later triggered the closure of some cement plants... |
Lafarge Africa PLC returns to profit in 201916 April 2020, Published under Cement NewsLafarge Africa PLC has reported revenues of NGN213bn (US$551.5m) for the year ended 31 December 2019 as against NGN218bn in 2018. Operating expenses fell from NGN29.89m to NGN23.42m. Financing costs also declined from NGN41.6bn to NGN20.2bn. The company ended 2019 with a profit after tax of NGN15.5bn compared with a loss of NGN8.1m in 2018. Lafarge Africa also reduced its debt from NGN208bn in 2018 to NGN52.6bn in 2019, while total equity jumped from NGN135bn to NGN345bn in 2019. Speak... |
Cementos Argos reopening Colombian plants16 April 2020, Published under Cement NewsCementos Argos announced it will be partially reopening its operations in Colombia to supply the public works that were given the go-ahead by Decree 531 of April 2020. The Rioclaro works in Antioquia as well as a limited number of concrete plants will open, in line with health and safety guidance defined by the authorities, according to Valora Analitik. "The company is ready to scale up its operation in the country once the activity of construction of buildings and the commercialisation of... |
Dungsam Cement reports impact of lockdown16 April 2020, Published under Cement NewsBhutan’s Dungsam Cement Corp has been adversely affected by the lockdown in India, according to Sonam Jigme, CEO. No export volumes or revenue have been recorded from 21 March to 12 April, compared to around 75,000t sold and BTN323m (US$4.2m) of revenue last year. Around 81,280t had been sold domestically from 1 January to 21 March, earning BTN488m. However, only 24,233t has been recorded after 21 March. Mr Jigme said that although there is domestic demand, sales have considerably fall... |
Gujarat Sidhee Cement resumes cement production16 April 2020, Published under Cement NewsIndia’s Gujarat Sidhee Cement started up the production of cement again yesterday, in compliance with permission received from the government. The company will comply with directives being issued by the central and state government, as well as local administration, for the safety and wellbeing of its workers. However, the overall impact of the coronavirus upon the company's operations is difficult to assess at present. |
Lehigh Cement releases 54 employees at Glen Falls plant16 April 2020, Published under Cement NewsLehigh Cement has laid off 54 of its 90 employees at its Glen Falls plant, New York state, USA, in the wake of a construction slowdown attributed to the spread of COVID-19. The company plans to discontinue most of its cement production at its Glens Falls plant, as well as operations at its quarry in Moreau, said David Dreyer, the plant manager. "The layoffs are expected to be temporary and will take effect over the next two weeks," Dreyer added. "Lehigh will begin paying 100 per cent of af... |
Titan publishes its 2019 annual report15 April 2020, Published under Cement NewsTitan has published its 2019 annual report outlining the group's financial, environmental and social performance. While Titan delivered another solid financial performance and made good progress on its 2020 environmental and social targets, responding to climate change and the digital revolution, the coronavirus broke out during the writing of the report. TITAN has mobilised to take measures to protect its staff. An assessment of the impact of COVID-19 is included in the report. Dimi... |
Brazil's cement demand stable in March15 April 2020, Published under Cement NewsFollowing a good first half to the month, Brazilian cement consumption saw a sharp decline in the second half of March, according to the country’s cement association, SNIC. The fall was attributed to the circulation restrictions and a reduction in the pace of works as public transport, trades and support services near the buildings were limited. Therefore, cement sales in March remained stable when compared to March 2019 and slipped 0.5 per cent MoM to 4.1Mt. However, when cement sales per ... |
State Bank of Pakistan reviews cement industry performance in 1HFY2015 April 2020, Published under Cement NewsThe State Bank of Pakistan has released its second quarterly report of FY20 (July 2019-June 2020) on the state of Pakistan's economy on 14 April. The report reviewed the performance of all sectors and appreciated the cement industry's progress, but pointed out the challenges of the coronavirus on all industries. According to the report, the global and domestic spread of COVID-19 has brought an exceptional set of challenges for the country. The spillovers from the global economy and the in... |