Cement News tagged under: coronavirus

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IRClass cement carrier launches in China

28 May 2020, Published under Cement News

A cement carrier under construction at Penglai Zhongbai Jinglu Ship Industry Co Ltd, China, was successfully launched on 30 March 2020. The vessel, called ‘Advaita’, has been built under the classification of Indian Register of Shipping (IRClass). IRClass surveyors braved the constantly-changing scenario of both global and local restrictions due to COVID-19 and immense challenges including movement of manpower, to ensure the float happened as scheduled. Advaita, is approximately 160m long,...

Holcim Philippines resumes operations

27 May 2020, Published under Cement News

Holcim Philippines Inc has restarted manufacturing and logistics operations with stronger health and safety controls at all its sites nationwide, after pausing cement production in compliance with government quarantine measures against COVID-19. The company started to reopen its plants and terminals in La Union, Bulacan, Manila, Batangas and Davao following the easing by national and local governments of quarantines that started in the second half of March. Holcim's plant in Lugait, Misamis...

Tokyo Cement Co (Lanka) Plc sees 23% fall in turnover in 4QFY20

27 May 2020, Published under Cement News

Tokyo Cement Co (Lanka) PLC said the group recorded LKR8.4bn (US$45.1m) turnover for the 4QFY20, which represents a 23 per cent reduction when compared to 4QFY19. The company recorded LKR4.9bn turnover for the 4Q20, which is 36 per cent reduction when compared to 4QFY19. The company has ensured production, distribution, and sales of products and services across the island with limited stoppages during the COVID-19 pandemic. However, retail and construction sites within the Western provinc...

Birla Corp posts 52% rise in net profit

26 May 2020, Published under Cement News

India’s Birla Corp has posted a 52 per cent YoY surge in net profit to INR1.95bn (US$25.76m) in the quarter ending 31 March 2020, while total income was down 9.4 per cent to INR17.18bn. Capacity utilisation during the 4QFY19-20 declined to 93 per cent from 98 per cent, on the back of a 13 per cent YoY drop in sales volumes to 3.3Mt. In the FY19-20 net profit advanced 98 per cent YoY to INR5.05bn. Orient Cement Birla Corp subsidiary, Orient Cement, recorded a 29 per cent YoY decline in...

Cemex amends consolidated financial leverage limits

26 May 2020, Published under Cement News

As part of a strategy to respond to the effects of the coronavirus pandemic, Cemex has amended its main banking contract to modify the limits of its consolidated financial leverage. Its leverage limit will increase to 6.75x by June 2020 and to 7.00x from September 2020 to March 2021, before decreasing again at a later date. "At the end of the first quarter of 2020, Cemex reported a consolidated financial leverage ratio of 4.40x," said the company.

Ciments du Maroc sees turnover down 10% in 1Q20

22 May 2020, Published under Cement News

Ciments du Maroc (HeidelbergCement) reported a 9.9 per cent YoY drop in cement sales volumes in the first quarter of 2020 as the coronavirus pandemic affected the market.  The company’s turnover declined 9.8 per cent YoY to MAD869m. Investments in the 1Q20 reached MAD14.8m, up 43.4 per cent when compared with the 1Q19.

UltraTech Cement Ltd records net sales of INR105.8bn in 4QFY19-20

21 May 2020, Published under Cement News

UltraTech Cement Ltd (Aditya Birla Group) announced its financial results for the 4Q and full year ended 31 March 2020. 4QFY19-20 Consolidated net sales reached INR105.8bn (US$1.39bn) vis-à-vis INR121.7bn in the corresponding period of the previous year. Profit before interest, depreciation and tax was at INR26.4bn versus INR26.72bn in the year-ago period. Profit after tax was INR32.43bn compared to INR10.64bn in the 4QFY18-19. Full-year results For the full year, consolidated net s...

LafargeHolcim's CEO targets low-carbon and sustainable recovery

20 May 2020, Published under Cement News

LafargeHolcim's CEO, Jan Jenisch, has updated customers on the company's low-carbon cement initiatives and preparing for the gradual pick-up in business as the world tries to recover from the COVID-19 pandemic. "As markets are gradually reopening around the world, we are ramping up our production to best support our customers and help the world economy recover as quickly as possible," said Mr Jenisch. We are doing this by putting sustainable construction at the heart of the recovery. "Buil...

Taiwan Cement expects stronger 2H20

20 May 2020, Published under Cement News

Taiwan Cement Corp gave a positive outlook for its core businesses this quarter as the cement market appears to have emerged from the shadows of the COVID-19 pandemic in China. Chinese construction started to resume in March and appeared to have mostly returned to normality last month, bolstering the company’s selling prices and output in the current quarter to levels similar to the same period last year, said Taiwan Cement President, John Li. The second quarter might turn out stronger t...

Paraguay sees unexpected uptick in demand

19 May 2020, Published under Cement News

Paraguay-based Industria Nacional del Cemento (INC) saw an unexpected surge in demand between 4-8 May 2020 with average sales of 79,755 bags/day as distribution companies collected a backlog of deliveries and bought extra volumes as they anticipated the easing of lockdown measures. INC had to buy 40,000t of imported clinker recently, according to Esmerk Latin American News. In April 2020 sales plummeted due to the COVID-19 pandemic.