Cement News tagged under: Vietnam

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The Vissai to acquire US$83.2m cement project in central Vietnam

23 August 2012, Published under Cement News

Vietnamese cement maker The Vissai is completing legal procedures to acquire a cement project in the central province of Nghe An from Do Luong Cement JSC with a registered investment of nearly VND1.739trn (US$83.2m). “The acquisition is nearly completed,” said a representative of The Vissai said in an interview with Dau Tu newspaper’s reporter. With the Do Luong cement plant, The Vissai will have six cement plants with a combined capacity of more than 7Mta. Construction of the Do Luong ce...

Vietnam: cement sales decline

22 August 2012, Published under Cement News

Total domestic cement consumption during the first seven months of this year was 27.6Mt, down by three per cent against the same time last year and 50 per cent of the yearly target, according to the Vietnamese Ministry of Construction. In July alone, only 4.14Mt of cement were sold, 300,000t lower than the previous month. The downturn has been blamed on the gloomy real-estate market. To better deal with cement stockpiles, cement producers have pushed exports. A total of 4.5Mt of clinker an...

YenBai Cement posts second quarter loss, Vietnam

10 August 2012, Published under Cement News

YenBai Cement and Minerals said it incurred a loss of VND5.69bn (US$271,000) in the second quarter of this year, marking its fifth consecutive quarter of losses Revenues declined five per cent on year to VND82bn during the period, the company said in a quarterly financial statement. Higher prime cost to revenue ratio was mainly blamed for the company’s loss, despite an earning of VND3.46bn from other incomes. In the Jan-June period the cement producer made a loss of VND11.47bn on revenues ...

Vinaconex sells 8M shares of cement producer

10 August 2012, Published under Cement News

Vietnam Construction and Import-Export JS Corporation or Vinaconex (VCG) sold eight million shares of Yen Binh Cement JSC on July 26. The decision was made because VCG is restructuring its holdings in Yen Binh firm, local financial website Cafef reported. As a result, VCG cut its holding in the cement producer to 26 per cent equal to 6.66 million shares from earlier 57.25 per cent. (Source: Vietnam News Brief Service)

Semen Gresik plans name change to raise its profile, Indonesia

03 August 2012, Published under Cement News

State Enterprises Minister Dahlan Iskan said Indonesian state-owned Semen Gresik is set to change its name to Semen Indonesia in a bid to raise the company’s international profile. The change is subject to approval by shareholders expected October or November this year, the minister said on Tuesday. Once the change becomes official, Dwi Doetjipto, president director of Semen Gresik, will become chief executive of Semen Indonesia. Dahlan said President Susilo Bambang Yudhoyono of Indone...

Hai Van Cement net profit rises 74%

27 July 2012, Published under Cement News

Hai Van Cement JSC reported a net profit of VND3.6bn in the second quarter of 2012, up 74 per cent YoY, the firm said in its financial statements posted on the Hochiminh Stock Exchange (STC)’s website. Its total revenue reached VND195.28bn in the period, up four per cent from VND187.02bn a year earlier, the firm reported. Meanwhile, its total costs only rose three pe rcent on year to VND188.9bn, leading to an on year rise of 74 per cent in net profit of the firm. In 1H12, the company earne...

Vicem pretax profit rises 72.2%

25 July 2012, Published under Cement News

Vietnam Cement Industry Corporation (Vicem) reported a pretax profit of VND333bn (US$15.91m) in the first half of this year, rising 72.7 per cent YoY,  meeting 44.3 per cent of the whole-year target. Its revenues, however fell 1.2 per cent YoY to VND14.22trn during the period, or 43.6 per cent of the full-year target, the group said. Vicem sold 9.71Mt of cement and clinker in the first half of this year, down 1.4 per cent against the same period last year, of which 650,000t were exported –...

Vietnam cement prices drop on weak demand

23 July 2012, Published under Cement News

The price of cement in Vietnam has dropped to VND100,000/t (US$4.8) in the first half of 2012 due to low demand and high stockpiles, according to the Vietnam Cement Association. For the six months to June 2012, cement production and consumption fell 10 per cent YoY to 24.3Mt and 23.6Mt, respectively. Local producers have exported 3Mt of clinker and 700,000t of cement in the first half of the year.  (Source: Vietnam News Agency Bulletin)

Vietnam to propose association for exporters

18 July 2012, Published under Cement News

Vietnam has called for domestic exporters to cooperate in fair pricing and is proposing to establish an association for cement and clinker export firms as the country looks to alleviate an increasing cement surplus. According to local press reports, Vietnam’s Ministry of Construction is proposing the new association which would help curb 'unhealthy competition' among these export companies as some local firms have cut prices. A proposal has been submitted to the prime minister for approva...

Vietnam exports seen rising

10 July 2012, Published under Cement News

Exports of cement and clinker are forecast to increase by 27 per cent this year compared to 2011, according to forecasts by the Vietnam Cement Association (VNCA). As as the country attempts to reduce excess supplies, the VNCA expects clinker exports this year to reach 6.2Mt and cement exports to be around the 1.5Mt mark, bringing overall volumes to 7.7Mt. Last year, total exports reached 6.04Mt, comprising 5.76Mt of clinker and 0.28Mt of cement. For the first six months of 2012, around...