Cement News tagged under: Vicem

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VICEM Ha Tien Cement submits targets for 2020

16 June 2020, Published under Cement News

Vietnam’s VICEM Ha Tien Cement reported a five per cent YoY rise in net revenue to VND8839bn (US$379.79m) and profit before tax of VND928bn (up 14 per cent YoY) in 2019. However, Dinh Quang Dung, company chairman, stated that the company is projected to face risks in the form of COVID-19 and other factors in 2020. Therefore, several targets have been submitted to shareholders for the current year, including a production of 7.33Mt (level with 2019), revenue of VND8584bn (down three per cent...

Vietnam cement sales expand 13% in December

12 February 2020, Published under Cement News

Total cement sales by Vietnamese cement producers increased 13 per cent YoY and five per cent MoM to 9,573,455t in December 2019, according to the Vietnam National Cement Association (VNCA). Domestic consumption saw a two per cent rise YoY and a nine per cent increase MoM to 5,921,910t in December 2019. Of this total, VICEM sales edged up by two per cent YoY and 10 per cent MoM to 2,002,655t while its joint-venture companies saw sales drop by five per cent to 1,539,255t when compared with ...

VICEM and FLSmidth announce sustainable production agreement

10 February 2020, Published under Cement News

Vietnam National Cement Corp (VICEM) and FLSmidth have announced their cooperation “to pioneer new solutions to significantly improve the sustainability of the cement sector in Vietnam”. The focus of the agreement will be to implement technologies that considerably reduce greenhouse gas emissions, find new alternative fuel solutions and ways to further improve air quality. The cooperation between the two companies includes the commitment to jointly develop industrial-scale innovations to ...

Vicem falls short of corporate valuation

06 September 2019, Published under Cement News

The pre-equitisation valuation of the Vietnam Cement Industry Corporation (Vicem) carried out by an independent auditor fell short by nearly VND1.17trn (US$50.3m), according to the State Audit of Vietnam. The state audit agency informed the Ministry of Construction that the valuation of Vicem in October 2018 was VND28.22trn, including the state capital of VND27.8trn. However, the corporate evaluation carried out by the independent auditor valued Vicem at VND27.05trn and the state capital at...

VICEM reports 5% rise in 1H sales

20 June 2019, Published under Cement News

State-owned Vietnam Cement Industry Corp (VICEM), the country’s leading cement producer, is estimated to have sold 14.98Mt of cement and clinker in the first half of 2019, representing a five per cent YoY increase. The total includes 13.1Mt of cement, up 11.4 per cent YoY, and 1.87Mt of clinker, a 25 per cent YoY drop. In the 1H19 VICEM’s pretax profit is estimated to have surged 62.3 per cent YoY to VND1.66trn (US$71.2m) on a revenue of VND17.64trn, up 4.3 per cent YoY, according to Vie...

Vicem Hoang Mai to build 3Mta plant in Nghe An

19 June 2019, Published under Cement News

Vicem Hoang Mai Cement JSC plans to build a 3Mta cement plant in Vietnam’s central province of Nghe An. Covering 60ha in the Hoang Mai 2 Industrial Zone, the project represents an investment of VND6.67trn (US$286m) and is expected to create 500 local jobs. During a meeting in May, the chairman of the provincial People's Committee, Thai Thanh Quy, granted approval in principle for the investor to develop the plant, which is part of the development strategy for the cement industry to 2030,...

Vicem reacts to electricity price increase by upping cement prices

03 April 2019, Published under Cement News

Cement prices are on the up in Vietnam following the 8.4 per cent hike in electricity prices from 20 March. Vietnam Cement Industry Corporation (Vicem) has reacted by raising its cement price by VND30,000/t (US$11.29/t). Don Tien Trinh, Vicem But Son's general director, said the price of coal has also risen by between 2.3 and 5.8 per cent depending on the type of coal. Cong Thanh Cement JSC in the central region has not raised retail prices but has charged distributors an additional VND30,...

Higher electricity costs to impact Vietnamese cement prices

26 March 2019, Published under Cement News

Vietnam Cement Industry Corp (VICEM) has announced that its electricity costs will increase by VND20bn (US$855,730) per month, and therefore product prices are also expected to rise. Local producers have stated that they will raise prices by VND30,000-50,000/t. On 20 March power prices went up by 8.4 per cent to VND1864, exclusive of VAT, after remaining unchanged for two years. A household which uses 520kWh a month will now pay an extra VND83,000, according to Vietnam News. Vietnam Elect...

VICEM targets further growth in 2019

08 January 2019, Published under Cement News

Vietnam Cement industry Corp (VICEM) has reported a 10 per cent YoY increase in revenue to VND37trn (US$1.59bn) for 2018. The company also saw an 11 per cent rise in pretax profit to VND2.8trn. VICEM expects to push this even further by reaching a revenue of VND40trn in 2019. According to Bùi Hồng Minh, general director of VICEM, pretax profit is expected to hit VND3.2trn in the year ahead. To achieve these goals, the company will produce and consume 31Mt of coal. It will also invest in ...

Vietnamese prices could rise in September

13 September 2018, Published under Cement News

Vietnamese cement producers may increase prices this month as a result of the increased demand seen in the construction season, according to the Department of Price Management under the Vietnamese Ministry of Finance. However, the prices of popular cement products, such as PCB30 and PCB40, remained stable in August. Vicem affiliates are currently supplying the two types of cement at a price range between VND1-1.47m/t (US$42.9-63/t), depending on the product and specific producer.