Cement News tagged under: South Asia

RSS feed

APO Cement suspends Davao terminal

05 October 2022, Published under Cement News

APO Cement Corporation , part of Cemex Holdings Philippines Inc , has temporarily suspended operations at its Davao terminal in the Philippines due to the constant influx of cement imports, reports Manila Bulletin. The continued arrival of imports, particularly from Vietnam, has led to rising costs and falling volumes, according to APO. “Our operational costs in maintaining the Davao terminal have increased and continue to increase, while our volumes are decreasing due to the unabated en...

Eagle Cement majority stake to San Miguel

05 October 2022, Published under Cement News

San Miguel Corp (SMC) is to acquire an 88.5 per cent stake in Eagle Cement Corp , reports GMA News. SMC said its boards of directors authorised the management of the corporation to “negotiate and enter into a share purchase agreement with the selling shareholders.” The selling shareholders of Eagle Cement include Ramon Ang, John Paul Ang, Monica Ang, and Far East Holdings Inc (FEHI), the latter of which is majority owned by Ramon Ang. The approved acquisition price is reportedly PHP22.0...

CEMEX supplies longest bridge in the Philippines

08 September 2022, Published under Cement News

CEMEX has announced that it was the sole supplier of cement for the construction of the longest bridge in the Philippines. The company supplied nearly 70,000t of cement for the construction of the Cebu-Cordova Link Expressway (CCLEX), which was inaugurated in April this year. CCLEX connects Cebu City to the municipality of Cordova on Mactan Island and spans a total of 8.9km, standing on twin tower pylons reaching 145m in height. The bridge, which cost PHP33bn (US$577.8m) to construct, i...

SIG sees revenue fall 2% in 1H22

05 September 2022, Published under Cement News

In the first half of 2022, Semen Indonesia Group (SIG) has reported revenue of IDR15,876bn (US$1064m), down 2.1 per cent on the same period last year. The decline was mainly driven by lower sales volumes with domestic sales volumes down 2.6 per cent YoY to 13.9Mt on the back of the Lebaran holidays following a two-year gap during the pandemic, along with a shift in people’s spending priorities away from property and renovation work. Regional sales volumes fell 39.2 per cent YoY to 2.9Mt, t...

Luks Group (Vietnam Holdings) reports 4% YoY drop in revenue

02 September 2022, Published under Cement News

Luks Group (Vietnam Holdings) Company Ltd has announced revenue of HKD266.3m (US$33.9m) in the first half of 2022, down 4.1 per cent from HKD277.7m in the same period a year earlier. Profit over the same period declined from HKD42.1m to HKD23.5m, while earnings per share contracted from HK8.5c to HK5.1c.  Over the six months, the cement and clinker sales of the group’s cement plant was approximately 420,000t, down 19.8 per cent on the 524,000t sold in the 1H21. From its cement business,...

Vietnamese cement consumption falls 27% in July

18 August 2022, Published under Cement News

Cement consumption in Vietnam came in at 5.95Mt in July 2022, down 27 per cent compared to July 2021, according to data from the Department of Building Materials under the Ministry of Construction. Domestic consumption in July reached 4.85Mt while exports stood at around 1.1Mt. For the first seven months of 2022, cement consumption was an estimated 54.99Mt, a decline of 17 per cent YoY, with domestic consumption down three per cent over the same period to 36.84Mt. According to the Departm...

Holcim Philippines sees net profit slump in 1H22

12 August 2022, Published under Cement News

Holcim Philippines Inc has reported revenue of PHP12.2bn (US$219.2m) in the first half of 2022, down from PHP13.7bn in the same period a year earlier. EBITDA has declined from PHP3.2bn to PHP2.1bn over the same period, with net profit falling from PHP1.6bn to PHP661m. In the second quarter, ended 30 June 2022, revenue came in at PHP5.4bn, compared to PHP6.9bn in the 2Q21. Operating EBITDA slipped from PHP1.4bn to PHP1.1bn, and net profit slumped from PHP721m to PHP240m.  The company has...

Eagle Cement posts increase in net sales in 1H22

09 August 2022, Published under Cement News

In the first half of 2022, Philippines-based Eagle Cement Corp saw its net sales advance to PHP13,680m (US$246m), compared to PHP11,057m in the same period a year earlier. EBITDA in the 1H22 came in at PHP4132m, marking a 13 per cent YoY decline. EBIT was down 16 per cent to PHP3501m over the same period, while net income contracted by 20 per cent to PHP2966m. The cost of goods sold in the 1H22 stood at PHP8856m, up 49 per cent from the PHP5934m seen in the 1H21, while operating expenses e...

Holcim sued by Indonesian island over climate change

14 July 2022, Published under Cement News

Residents of an Indonesian island threatened by rising sea levels are suing Holcim over its carbon emissions, according to TopWireNews. The island in question, Pulau Pari, depends on fishing and tourism for its economy but due to climate change large swathes of the island are expected to be submerged under water in 30 years' time, say the residents. They are now seeking compensation from Holcim for the damage they have already suffered as a result of climate change, as well as funds for floo...

Philippine government urges cement producers to use plastic waste

16 March 2022, Published under Cement News

To help reduce the country’s solid waste generation by at least 40 per cent Philippine Department of Environment and Natural Resources (DENR) has requested cement producers to explore ways to use plastic waste as a raw material, reports The Manila Times. "When all these cement plants will participate, we can dramatically reduce the volume of plastic waste which will be now regarded as raw materials of the cement plants in their current processing," said DENR-EMB Director William Cuñado, ci...