Cement News tagged under: Vietnam

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South Africa's cement import volumes shoot up

23 September 2019, Published under Cement News

Cement imports into South Africa have surged by 293 per cent YoY in July and have also risen by 17.5 per cent since the start of the year. The main source for the cement came from Vietnam during June-July 2019, according to Industry Insight. Approximately 104,099t of cement arrived in South Africa in June with a value of ZAR70m (US$4.7m), which is the highest level of cement imports since February 2015. A total of 631,059t of cement with a customs value of ZAR440m had been imported into ...

Phinma Corp set to invest in Vietnam's Song Lam Cement

20 September 2019, Published under Cement News

Philippine-based Phinma Corp is set to invest in Vietnam’s Song Lam Cement JSC through the acquisition of preferred shares worth PHP2.6bn (US$50m). Song Lam will now become a major supplier of PhilCement Corp, which is 60 per cent owned by Phinma, according to a company disclosure. Following the investment, Phinma will be entitled to nominate one member of Song Lam’s board of directors and the chief financial officer of the company. In the 1H19 Phinma saw its consolidated net income inc...

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...

Luks Group (Vietnam Holdings) records 10% fall in turnover

05 September 2019, Published under Cement News

Luks Group (Vietnam Holdings) Co Ltd has reported a 9.7 per cent YoY decrease in turnover to HKD330.6m (US$42.17m) for the six-month period ending 30 June 2019, compared with HKD366.2m in the 1H18. The company’s cement business saw a decline of 18 per cent YoY in turnover to HKD219.3m. The company has attributed the results to a fall in Chinese consumption, which resulted in reduced cement exports, alongside a decline in Vietnam’s domestic cement demand. The company’s plant in central Vie...

Vietnamese production estimated to have risen 9% in August

29 August 2019, Published under Cement News

Vietnam is estimated to have produced 7.9Mt of cement in August, an increase of 8.7 per cent YoY, according to the latest data from the country’s General Statistics Office. Therefore, the country’s total output in the first eight months of this year is likely to have advanced 7.6 per cent YoY to 63.1Mt.

Vietnamese cement deliveries advance by 30% in July

21 August 2019, Published under Cement News

Cement dispatches by Vietnamese producers surged by 30 per cent YoY to 8.08Mt in July, according to data by the Vietnam National Cement Association (VNCA). When compared with the previous month, deliveries were up eight per cent. Domestic sales improved by 21 per cent to 5.794Mt when compared with July 2018. VICEM saw its sales increase by 15 per cent YoY to 1.878Mt while its joint-ventures reported a six per cent YoY rise to 1.571Mt. Other Vietnamese cement producers noted a 40 per cent h...

Vietnamese market stable, exports slip in June

07 August 2019, Published under Cement News

Vietnamese cement companies sold 7.497Mt of cement in June 2019, down four per cent YoY and 12 per cent MoM, according to the Vietnam National Cement Association (VNCA). Of this total, 5.645Mt were supplied to the domestic market, reflecting a stable market when compared with June in the previous year and a five per cent fall MoM. In addition, 1.851Mt were exported, down 16 per cent YoY and 27 per cent MoM. VICEM delivered 1.849Mt to Vietnamese customers, edging up by two per cent YoY but ...

Siam City Cement Vietnam signs US$468m investment agreement with Kien Giang province

05 August 2019, Published under Cement News

Kien Giang province has signed an investment cooperation agreement with Siam City Cement Vietnam, part of the Thailand-based Siam City Group, for a cement plant in Kien Luong district. The agreement represents an investment of VND10.89trn (US$468m) for both a limestone and clay mining project as well as a clinker line.

SCG reports falling revenue in Vietnam

01 August 2019, Published under Cement News

Thailand’s Siam Cement Group (SCG) has seen a seven per cent YoY drop in its revenue from sales in Vietnam to VND7.9trn (US$339m) in the 2Q19, according to Vietnam News. Revenue from sales in Vietnam finished at VND14.6trn in the 1H19, consistent with the year-ago period, and accounted for nine per cent of the group’s total revenue. Currently, the company’s assets in Vietnam are valued at VND55.75trn.

Vietnamese cement sector to reach 115Mta of capacity in 2020

23 July 2019, Published under Cement News

Vietnam is expected to have 89 cement production lines and a total capacity of 115Mta in 2020, according to the Vietnam National Union of Building Workers. In 2019 two additional lines are scheduled to begin operations. Nam Dong will commission a 1.8Mta unit in Thua Thien-Hue province and Thanh Thang Cement is expected to start up its 2.3Mta third line in northern Ha Nam province. A further five facilities are expected to open with a combined capacity of 12.7Mta in 2020. This includes Min...