Cement News tagged under: Vietnam

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Vinaconex plans to sell stake in Cam Pha Cement, Vietnam

12 April 2013, Published under Cement News

Vietnam Construction and Import-Export JSC (Vinaconex), plans to sell a 70 per cent stake in Cam Pha Cement JSC as it continues with its plan to divest in non-core operations. Vinaconex is seeking shareholders approval to sell the shares to foreign partners at below the par value of VND10,000 each, but not lower than Cam Pha’s book value. According to local press reports, two companies have expressed an interest in buying shares in Cam Pha Cement. Last year, the company posted a loss o...

Association warns of industry losses through exports, Vietnam

12 April 2013, Published under Cement News

Despite the Vietnamese government calling for the domestic industry to increase exports, the chairman of the Vietnam Building Association has called for local producers to cooperate in a fair pricing environment to prevent further losses. Last year producers were reported to have incurred a loss of US$80m as volumes were sold at below floor prices to undercut each other, said Mr Huynh, chairman of the association. According to him, local firms sold their products at US$40-45/t, incurring ...

Vietnam cancels nine proposed cement projects

08 April 2013, Published under Cement News

Nine proposed cement projects in Vietnam are to be cancelled by the government following calls by the Vietnam Building Materials Association to help bring cement capacity more in line with market trends. According to reports by Vietnam News Brief Service, the projects cancelled by Vietnamese Prime Minister Nguyen Tan Dung, include Ha Tien-Kien Giang, Truong Son- Ro Li, Hop Son, Ngoc Ha, Vinafuji Lao Cai, Thanh Truong, Son Duong, Quang Minh and Cao Bang. Each was reported to have a capacit...

Vicem Hoang Mai Cement posts first-quarter loss

04 April 2013, Published under Cement News

Vicem Hoang Mai Cement JSC (HOM) has posted a first quarter loss of VND10bn (US$476,100) attributed to increased costs. The company closed 2012 with a net profit of VND112.72bn (US$5.39m) on revenue of VND1.53trn last year, down 13 per cent and up 8.07 per cent YoY, respectively. HOM is seeking approval from its parent company, Vietnam Cement Industry Corporation o revise up its 2013 pretax profit target by 4.65 per cent to VND90bn (US$4.29m) from the initial VND86 billion.

Vietnam first-quarter cement sales rise 15% YoY

03 April 2013, Published under Cement News

Vietnam cement producers have reported a 15 per cent YoY rise in sales in the first quarter of 2013 to 7.55Mt, the Ministry of Construction (MoC) has reported. The double-digit quarter rise comes despite a 30 per cent drop in March sales to 2Mt. Thanks to the increase in cement sales between January and March, the country’s cement inventory dropped by 45 per cent YoY to 40,000t, according ot the MoC. The MoC forecasts that the country’s cement sales will rise between 5-8 per cent in 2013...

Vietnam first-quarter production rises 2.1%

01 April 2013, Published under Cement News

Vietnam is estimated to have produced 12.4Mt in the first quarter of 2013, representing a rise of 2.1 per cent YoY, the latest data from the General Statistics Office (GSO) shows. The government-run office has revised down its figures for January and February 2013 from an earlier estimate of 8.3Mt to 7.4Mt. During March alone, the country's output is likely to have fallen by two per cent YoY to 5Mt, the monthly GSO figures show.  For this year, domestic sales are expected to rise by 5-...

Vietnam market remains sluggish

29 March 2013, Published under Cement News

The Vietnamese Ministry of Construction said that cement consumption was estimated at 3.7Mt in February, accounting for 7.4 per cent of this year’s plan. The cement market remained subdued though producers continued to offer 3-5 bags of cement for free on 100 bags of cement. The Ministry’s plan foresees a cement demand of around 56-57Mt, of which the domestic market is expected to absorb 48.5-49Mt. The remaining 7.5-8Mt. is earmarked for exports, which in February touched 0.52Mt. ...

Semen Indonesia to begin Myanmar construction next year

26 March 2013, Published under Cement News

PT Semen Indonesia is set to start construction of a new plant in Myanmar next year as part of the country's regional expansion drive. Citing the company’s president director Dwi Soetjipto, the Jakarta Post reported that operations at the 1Mta would begin in 2017. The plant would mainly serve the growing market of Myanmar which is modernising its economy after decades of military rule. Domestic cement consumption, which in 2012 is expected to have increased by 16.7 per cent to 7Mt, is ...

Calls for a review of Vietnam's cement industry master plan

20 March 2013, Published under Cement News

Vietnam’s Building Materials Association has used the Ministry of Construction (MoC) to adjust the master plan for the cement industry for the 2011-20 period and has suggested a series of measures to ease the current surplus situation. The move follows a rising inventory following increases in capacity and lower domestic demand. Current inventory is estimated to reach 25Mt by 2015 and 40Mt by 2020. The association has therefore proposed the government halt nine small cement projects and r...

Vicem Hoang Mai Cement seeks to raise 2013 pretax target, Vietnam

05 March 2013, Published under Cement News

Vicem Hoang Mai Cement JSC is seeking approval from its parent company Vietnam Cement Industry Corporation (Vicem) to revise its 2013 pretax target upwards by 4.65 per cent. The company hopes to raise its target to VND90bn (US$4.29m) from the initial VND86bn, its chief accountant, Tran Minh Son, told the Dau Tu Chung Khoan newspaper. Last year Hoang Mai Cement achieved a net profit of VND112.72bn (US$5.39m) on revenue of VND1.53trn last year, down 13 and up 8.07 per cent, respectively.