Cement News tagged under: coronavirus

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No coronavirus impact on cement revenue in 9MFY20 but March data dispersed in Pakistan

20 April 2020, Published under Cement News

The Federal Bureau of Statistics of Pakistan has released cement export data for the nine-month period of July 2019-March 2020 (9MFY19-20). It carries more or less same trend of eight months and does not show any significant impact on overseas dispatches amid the spread of coronavirus in country. However, exports in March 2020 show a contraction due to the lockdown during the latter half of the month, which continues.   Pakistan’s cement industry has earned an export revenues of US$210.07m ...

Ambuja Cements seeks production start from 20 April

20 April 2020, Published under Cement News

LafargeHolcim subsidiary Ambuja Cements plans to start production in phases at its plants across India from 20 April and is seeking government approval. The company had suspended operations on 23 March due to the coronavirus pandemic. The company is taking steps to adhere to the standard operating procedure for social distancing mandated by the government in the new guidelines issued by the government on 15 April, it said in a regulatory filing. "The company is seeking necessary permissio...

DG Khan resumes operations at Khairpur

20 April 2020, Published under Cement News

Pakistan-based DG Khan Cement Co has resumed production at its Khairpur cement plant in Chakwal, said the company in a statement to the Pakistani Stock Exchange on Friday. Operations have been resumed as a result of the relaxation of the lockdown for the construction industry.

Titan releases 2019 annual report and assesses COVID-19 impact

17 April 2020, Published under Cement News

Titan Group released its 2019 annual report this week , covering its performance financially and with its environmental and social programmes. It also gave an outline of how it had been affected by the COVID-19 pandemic. Tarkis Arapoglou, chairman of Titan's Board of Directors, said: "The slow, steady and simultaneous recovery of the global economy in recent years continued throughout most of 2019 but regrettably was abruptly interrupted by the advent of the COVID-19 pandemic." Moderate ...

Saudi cement sector reports positive 1Q20

17 April 2020, Published under Cement News

Despite the ongoing coronavirus pandemic, the Saudi cement sector has reportedly seen a 33 per cent YoY average increase in cement market volumes during the 1Q20, according to an Al Rajhi Capital report. Qassim Cement saw the highest growth at 53 per cent, followed by Yanbu Cement and Yamama Cement with rises of 43 and 38 per cent, respectively.   However, restrictions imposed by the government have resulted in project delays, which may directly impact cement demand and cause under-uti...

JK Lakshmi Cement seeks government approval to resume its Indian production

17 April 2020, Published under Cement News

JK Lakshmi Cement has informed Indian Stock Exchanges on 16 April that the company is seeking necessary approvals from the relevant state government authorities to resume operations at its various plant locations. The company is also closely monitoring the situation and will take requisite steps in accordance with the directions issued by central and state government, from time to time.   The company has put in place the required safety measures for the workers and employees at the plants in...

Siam City to wind down production at Saraburi

17 April 2020, Published under Cement News

Thailand’s Siam City Cement will begin to close its Saraburi plant from 1 May as cement demand falls due to the COVID-19 pandemic, according to The Nation: Thailand. The company has reportedly seen a reduced amount of orders and therefore will wind down production and labour at Factory 1 from 1 May. However, it is expected to move employees to other plants or allow them to leave by mutual consent.

CMIC president warns that workers may soon lose salary

17 April 2020, Published under Cement News

The national president of the Mexican Chamber of the Construction Industry (CMIC), Eduardo Ramírez Leal, has warned that the minimal operation of smaller construction companies will result in around 500,000 workers in the sector losing income at the end of April. "In the next 15 days, it's when a lot of workers are no longer going to be getting paid because their employers won't have to pay them," said Mr Leal. The chamber represents 12,000 construction companies across the country. "I...

Five Pakistan cement producers to release 3Q results amid coronavirus pandemic

17 April 2020, Published under Cement News

Pakistan's leading cement companies are scheduled to announce on 23 April their financial results for the 3QFY19-20 ended 30 March 2020.   Analysts anticipate mixed results, carrying some negative reflection of mitigation efforts to stop the spread of the coronavirus in the country. During this accounting period, the pandemic started to spread and the government enforced lockdown to control it in all provinces, aiming social distancing. This later triggered the closure of some cement plants...

Lafarge Africa PLC returns to profit in 2019

16 April 2020, Published under Cement News

Lafarge Africa PLC has reported revenues of NGN213bn (US$551.5m) for the year ended 31 December 2019 as against NGN218bn in 2018. Operating expenses fell from NGN29.89m to NGN23.42m. Financing costs also declined from NGN41.6bn to NGN20.2bn. The company ended 2019 with a profit after tax of NGN15.5bn compared with a loss of NGN8.1m in 2018. Lafarge Africa also reduced its debt from NGN208bn in 2018 to NGN52.6bn in 2019, while total equity jumped from NGN135bn to NGN345bn in 2019. Speak...