Cement News tagged under: COVID-19
Moody's changes Boral's outlook to negative08 April 2020, Published under Cement NewsMoody’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... |
Shiva Cement scales down cement production in India08 April 2020, Published under Cement NewsIndia-based Shiva Cement Ltd has informed the Bombay Stock Exchange on 6 April that in the wake of the COVID-19 outbreak across the world, including India, the company has been taking various precautionary measures to ensure the safety and health of the employees and their families, at its offices and manufacturing location in Orissa, eastern coast of India. However, the company has scaled down its manufacturing operations following the nationwide lockdown in the country and various advisor... |
Likely post-coronavirus cement scenario in Pakistan08 April 2020, Published under Cement NewsA local research house has estimated cement demands/sales in Pakistan after the coronavirus period, provided it is fully controlled well before it could bring any catastrophe on the economic front. IMS Research forecasts that the present lockdown will keep cement demand below full potential until the end of 1HFY21 (July-December). Thereafter, a strong rebound in demand growth and profit margins seems more likely, given an earlier-than-expected start of monetary easing and government's stim... |
Cement companies asked to unload product from freight trains08 April 2020, Published under Cement NewsIndian cement companies are being asked to unload cement bags from freight trains so they can be used for essential commodities, according to the Deccan Herald. Reports suggest that around 300 trains full of cement bags are lying idle, as the construction business comes to a standstill amid the country’s lockdown period. Since railway officials had waived off demurrage fees and wharfage charges during the crisis, the companies were not losing any money. However, the trains are now in deman... |
Cemex resumes operations in Mexico07 April 2020, Published under Cement NewsCemex is resuming its building material operations in Mexico in line with the technical guidelines published in the official Mexican gazette to support the development of the economy during the COVID-19 pandemic. Cemex will comply with all measures indicated by the Ministry of Health to operate in a safe and responsible environment. The health and safety of employees, contractors, suppliers, customers and communities is a top priority for Cemex and the company will continue to enforce its h... |
Steps to avoid project standstill in Mexico07 April 2020, Published under Cement NewsFollowing the announcement of CANACEM, Mexico's cement chamber, that it will slow down operations in the COVID-19 contingency, Claudia Sheinbaum Pardo, Mexico City's head of government, has said she is working with some cement companies to prevent the stoppage of priority work. This includes agreements with cement producers that see the transfer of high-density waste from Mexico City. "We are coordinating with the Government of Mexico on the provisions they have given. There are public work... |
Trading of cement scripts still suspended in Bangladesh07 April 2020, Published under Cement NewsThe trading of seven leading cement firms' scripts in two stock exchanges of Bangladesh are suspended due to measures taken by the Dhaka government to stop the spread of coronavirus across the country. No trading was held from 26 March in shares of Aramit Cement Ltd, Confidence Cement Ltd, HeidelbergCement Bangladesh Ltd, LafargeHolcim Bangladesh Ltd, Meghna Cement Mills Ltd, MI Cement Factory Ltd and Premier Cement Mills Ltd. The Bangladesh's two bourses, Dhaka Stock Exchange (DSE) and ... |
Pakistan announces the much-anticipated construction package07 April 2020, Published under Cement NewsPakistan's Prime Minister, Imran Khan, last week announced the much-awaited Construction Package, which is mainly comprised of tax incentives for the construction industry. The sector has now been given the status of an industry. Economists and research houses called the package a boost for the construction and cement industries with little reservation and pointed out that while it looks very good on paper, the timing of its announcement is less than ideal, due to the atmosphere of uncert... |
March cement data reflects coronavirus impact in Pakistan06 April 2020, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA) has officially released cement dispatches data for March 2020 and cumulative dispatches for nine months. The demand for cement in March has reportedly contracted due to the mitigation efforts of the federal and provincial governments to stop the spread of the coronavirus in Pakistan. The whole country is partially or fully locked down for the last 15 days and this has affected the supply chain/local/export dispatches and demand in the co... |
Tajikistan eyes 20% increase in cement output in 202006 April 2020, Published under Cement NewsTajikistan has significantly increased production of cement this year despite the impact of the COVID-19 pandemic and the associated economic recession in the country, according to the Tajik Ministry of Economic Development and Trade and local media reports. In the first two months of 2020, domestic cement output amounted to 564,300t, an increase of 20.3 per cent YoY. Local analysts expect cement production to continue to grow as in previous years. In 2018 total production amounted to 3.... |