Cement News tagged under: coronavirus

RSS feed

Georgia's building materials companies continue production

09 April 2020, Published under Cement News

Georgia’s government has published a list of industries that can continue to work in compliance with  epidemiological safety rules, with construction companies and building material manufacturers included in the list, reports Trend News. According to the decision, infrastructure projects will continue throughout the country. Paata Nikvashvili, director of Magnum Group, says the company's main task is to provide infrastructure and construction projects with cement. "From the beginning o...

CABC report calls for Canada and USA to keep border open to cement trade

09 April 2020, Published under Cement News

The Canadian American Business Council's (CABC) latest report on Canada/US cross-border trade calls for governments in north America to open border trade to cement and other building materials during the COVID-19 crisis to keep some liquidity in the economy. "If we don't keep this backbone of the economy going, we are going to extend the time the recovery will take, policy-makers are getting that," said Steve Morrissey, executive vice-president of the Cement Association of Canada, a member ...

May lifting of lockdown could see U-shaped recovery in Indian cement

09 April 2020, Published under Cement News

India-based Yes Securities has provided an outlook for the Indian cement industry following the impact of COVID-19. The research house reports that following the lifting of the lockdown, a minimum of 15 days will be required to streamline operations. Furthermore, recovery will be gradual as it may take labour time to return. Pricing discipline is expected to be hard to maintain once lockdown is lifted as smaller players are expected to undercut prices. The south remains susceptible to subdu...

Dalmia Cement Bharat announces COVID-19 relief plans

09 April 2020, Published under Cement News

India’s Dalmia Cement Bharat has contributed INR20m (US$262,742) to the Odisha relief fund to help support the state’s response to the COVID-19 pandemic. Elsewhere, the company has distributed dry food packets to over 900 families in villages near Biswali, Odisha. Seven days of grocery shopping has been supplied to 650 families in and around Rajgangpur, while the company has also provided assistance for stranded truck drivers, helpers and the homeless. Furthermore, the company has team...

Cemento Sur licence temporarily suspended

09 April 2020, Published under Cement News

Cemento Sur has had its operating licence temporarily suspended by the mayor of the District Municipality of Caracoto in Puno, Peru, because it was operational during the country’s state of emergency, according to Onda Azul.  “We have closed the door of the Cemento Sur company, he said, while specifying that the Ministry of Production issue an authorisation to the company so it can circulate regularly. “To avoid the operation of the company we have blocked its accesses,” said the authority...

Maple Leaf Cement restores its plant operations at Punjab in Pakistan

08 April 2020, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCFL) has informed Pakistan Stock Exchange Ltd that it has resumed its production operations at its plant located at Iskanderabad, Dist Mianwali, in Punjab, on 7 April. This was possible due to the government's allowed relaxation of COVID-19 lockdown for the construction industry, said Company Secretary, Muhammad Ashraf, in the bourse filling. The plant had temporarily suspended its operations recently in the light of government instruction to control the ...

Indian cement demand could fall 20-25% in FY21

08 April 2020, Published under Cement News

Indian cement demand is expected to fall by 20-25 per cent in the current fiscal year (FY20-21) if the COVID-19 pandemic is not contained by May and construction activities only begin in the second quarter, said analytics agency Crisil. However, assuming the lockdown and other social distancing measures continue until the end of April and construction activity resumes in mid-May, the agency stated that the fall in demand could be 10-15 per cent. Capacity utilisation rates are also expected...

Moody's changes Boral's outlook to negative

08 April 2020, Published under Cement News

Moody’s Investor Service has changed its outlook on Australia’s Boral Ltd from stable to negative, while also affirming its Baa2 issue rating. "The change in outlook to negative reflects Moody’s expectation for weak earnings given a significant pull back in housing starts in both the US and Australia. In addition, Moody’s expects certain non-residential construction projects to be delayed or cancelled as a result of broad weakness in economic demand," said the investor service in a statem...

Shiva Cement scales down cement production in India

08 April 2020, Published under Cement News

India-based Shiva Cement Ltd has informed the Bombay Stock Exchange on 6 April that in the wake of the COVID-19 outbreak across the world, including India, the company has been taking various precautionary measures to ensure the safety and health of the employees and their families, at its offices and manufacturing location in Orissa, eastern coast of India. However, the company has scaled down its manufacturing operations following the nationwide lockdown in the country and various advisor...

Likely post-coronavirus cement scenario in Pakistan

08 April 2020, Published under Cement News

A local research house has estimated cement demands/sales in Pakistan after the coronavirus period, provided it is fully controlled well before it could bring any catastrophe on the economic front. IMS Research forecasts that the present lockdown will keep cement demand below full potential until the end of 1HFY21 (July-December). Thereafter, a strong rebound in demand growth and profit margins seems more likely, given an earlier-than-expected start of monetary easing and government's stim...