Cement News tagged under: South Asia
Eagle Cement Corp to consolidate raw material supply chain27 September 2021, Published under Cement NewsThe board of Philippines-based Eagle Cement Corp has approved the 100 per cent purchase of affiliate limestone quarrying firm, Solid North Mineral Corp (SNMC), in a PHP3.57bn (US$69.95m) deal. SNMC is currently majority-owned by Ramon S Ang, chairman of Eagle Cement. The move is expected to consolidate its raw material supply chain. |
Eagle Cement announces 181% rise in net income17 August 2021, Published under Cement NewsPhilippines-based Eagle Cement has posted a 181 per cent YoY increase in net income to PHP3.7bn (US$73.08m) in the first half of 2021, against PHP1.32bn in the corresponding period of last year. Net sales also advanced 87 per cent to PHP11.06bn from PHP5.91bn in the 1H20. The company has attributed the results to higher sales volumes despite the decrease in the average selling price of cement per bag, which resulted from tight competition. |
Siam Cement records 83% increase in net profit11 August 2021, Published under Cement NewsThailand’s Siam Cement has seen an 83 per cent increase in net profit to THB17.14bn (US$512.4m) in the second quarter of 2021, supported by its chemical and packaging businesses. Revenue also advanced 39 per cent YoY to THB133.56bn. The company has also announced a capex target of THB80-90bn for this year. |
Vietnam considers higher cement export tariff20 July 2021, Published under Cement NewsVietnam’s Ministry of Finance (MoF) has reportedly proposed that the government consider increasing the export tariffs for clinker to 10 per cent from five per cent, according to Vietnam News. The MoF explained that exports of cement and clinker are not sustainable as their production uses non-renewable sources. Cement and clinker producers in Vietnam are also making use of a low electricity tariff. |
Holcim Philippines invests to improve sustainability16 July 2021, Published under Cement NewsHolcim Philippines is set to invest PHP210m (US$4.18m) in projects to reduce the fuel consumption and increase mineral additive usage at its cement plants in Bacnotan, La Union, Lugait and Misamis Oriental, to raise business and sustainability performance. "More efficient operations will help us deliver better financial results and improve our environmental footprint. We look to continue implementing these improvements to meet our objectives of delivering greater value to our shareholders ... |
Siam Cement Group targets digital platform and machine efficiency upgrades23 June 2021, Published under Cement NewsSiam Cement Group (SCG) is maintaining its investment budget at THB65-75bn (US$2.04m-2.36m) for the second half of this year even though the third wave of the pandemic has damaged its businesses. The company is focusing on digital platforms and is asking the government to support e-commerce and other measures to deal with the pandemic. "Businesses must brace for changes caused by virus spread," said Roongrote Rangsiyopash, SCG president and CEO. SCG plans to spend most of ... |
Vietnam’s export boost22 June 2021, Published under Cement NewsVietnam’s total cement and clinker sales expanded by 0.9 per cent YoY in 2020 to 97.5Mt, according to FiinGroup. Of this total, domestic cement consumption was 62.1Mt, declining by 5.6 per cent YoY. Meanwhile, clinker and, in particular, cement exports remained strong, surging by 14.9 per cent compared to a year earlier. Both the positive long-term outlook for Vietnam’s cement market as well as the ability to export to overseas destinations bode well for domestic cement ma... |
Indonesia’s face of recovery21 June 2021, Published under Cement NewsCOVID-19 restrictions disturbed the Indonesian cement market last year, with demand and utilisation levels falling as the country continues to exhibit a significant capacity overhang. LEK Consulting provides a summary of 2020’s implications on the local cement scene and identifies key emerging themes that will shape the face of its recovery. By Manas Tamotia, LEK Consulting, Singapore. Despite lower cement demand registered last year, certain mitigating factors offset the overall impa... |
Vietnam market expands 16% in April14 June 2021, Published under Cement NewsCement dispatches in Vietnam reached 6.551Mt in April 2021, up 16 per cent YoY, according to the Vietnam Cement Association (VNCA). VICEM reported a 17 per cent YoY rise in sales to 2.26Mt while its affiliated companies saw a six per cent YoY uptick to 1.661Mt. Other Vietnamese producers supplied 2.63Mt, up 22 per cent when compared with April 2020. Exports advanced 79 per cent YoY to 4.323Mt in April 2021. Of this total 2.826Mt was clinker, which saw a 17 per cent YoY hike, and 1.498Mt wa... |
Lami cement plants warned of need for local correspondence on emissions14 June 2021, Published under Cement NewsCement companies in Lami, Fiji, have been urged to hold virtual meetings with the residents. Permanent Secretary for Environment, Joshua Wycliffe, says this will ensure that the companies are in regular talks with the residents, so their concerns do not fail to get attention during these challenging times. Mr Wycliffe says there have been resurgent reports indicating clinker emissions in the airspace in Lami. He adds they are in touch with the cement companies clearly instructing them tha... |