Cement News tagged under: coronavirus

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Indian cement dealers expect volumes to decline 35-40%

31 March 2020, Published under Cement News

Following the impacts of COVID-19, Indian cement dealers are expecting volumes for March to decline by 35-40 per cent YoY and April to be a wash-out, according to The Financial Express. Volumes had been reportedly growing at 10-12 per cent YoY in the east, and 4-5 per cent YoY in the west and central regions. However, cement dispatches have stopped since 21 March and all major cement plants are now shut. Volume loss from the nationwide lockdown is estimated to be around 40 per cent in March...

BUA provides funds for COVID-19 relief in Nigeria

31 March 2020, Published under Cement News

Nigeria’s BUA has fulfilled a pledge by transferring NGN1bn (US$2.6m) of funds to the COVID-19 relief account with the Central Bank of Nigeria. In addition, the group also announced another donation of NGN300m to Sokoto, Edo and Ogun states to further assist an adequate COVID-19 response. These additional donations will be made on behalf of its BUA Cement subsidiary which has major production operations in these states, whilst Ogun was also selected as a beneficiary due to its proximity t...

Indian lockdown leaves plant staff stranded

31 March 2020, Published under Cement News

Following the Indian lockdown as a response to the COVID-19 outbreak, Ramco Cements has stopped production at its plant in Haridaspur, Jajpur. However, around 400 workers from other states such as Jharkhand, West Bengal and Bihar allegedly remain stranded inside the factory, according to The Pioneer. The issue has now been raised with company management and the appropriate District Collector.

Vicat to revise 2020 outlook in view of coronavirus

30 March 2020, Published under Cement News

Vicat has warned that while its 2020 outlook needs to be revised in terms of the potential impact of COVID-19 on the cement producer’s business, it is not able at this stage to provide a detailed and accurate assessment of how its markets and financial performance will develop during the course of the year. Adaptation measures have already been implemented, including a plan to reduce operating costs and defer non-strategic capital expenditure.

Cevian builds CRH stake

30 March 2020, Published under Cement News

Swedish activist fund Cevian has bought further shares in CRH in less than a fortnight. The fund now holds a 3.145 per cent stake in the Ireland-based building materials producer. Cevian first purchased shares in CRH in February, calling for a simplification of the business, but has since appeared more supportive of the management. "When this [coronavirus outbreak] passes, CRH's fundamentals will still be strong, and the business well positioned to benefit from increased public construct...

Dalmia Bharat suspends entire manufacturing capacity

30 March 2020, Published under Cement News

India’s Dalmia Bharat has suspended its entire 26.5Mta of cement manufacturing capacity as a result of the coronavirus, according to a press release. "We are continuously monitoring the situation and the immediate task is to ensure that the chain of transmission of COVID-19 breaks. We will decide to restart production once the lockdown is over, based on the directions of the state and central governments," said Mahendra Singhi, managing director and CEO. Although the plants have the requ...

Oficemen asks government not to “paralyse the construction sector”

30 March 2020, Published under Cement News

Cement manufacturers with plants in Spain have requested the country’s government not to paralyse the construction sector in the face of the current COVID-19 pandemic and the national alert, considering it necessary to maintain its activity so that "the country is prepared for the exit of the crisis". "With the service sector paralysed, construction now becomes an essential pillar so that the Spanish economy does not freeze," says the cement association, Oficemen. It advocates "maintenance ...

DG Khan suspends operations at Kofli Sattai and Khairpur plants

30 March 2020, Published under Cement News

In view of the measures to fight the spread of COVID-19 including the current lockdown by the authorities, Pakistan-based cement producer DG Khan will temporarily suspend the plant operations at Kofli Sattai, Dera Ghazi Khan, and Khairpur, Chakwal, in Punjab, with immediate effect, said the company in a Pakistan Stock Exchange filing. The two plants have a total production capacity of 4.22Mta. State support Meanwhile, Pakistan Prime Minister Imran Khan reiterated that he is against the c...

Grupo Argos to cut costs by nearly US$245m in 2020

30 March 2020, Published under Cement News

Colombia’s Grupo Argos, parent of Cementos Argos, is expected to defer investments and cut spending by nearly COP1trn (US$245m) this year, amid uncertainty about the economic impact of the coronavirus, according to Reuters.  The group will postpone investments of COP700bn and cut costs by COP250bn. The measures will hit certain expansion projects, as the company looks to protect jobs and ensure its sustainability. "Today we have taken measures to postpone investments ... they haven't b...

LafargeHolcim implements coronavirus action plan

27 March 2020, Published under Cement News

LafargeHolcim has announced the implementation of its action plan regarding the coronavirus pandemic, stating that it is closely monitoring all markets and the guidance provided by the authorities in each country. "In China, the recovery of the construction sector has started and all our plants outside of Hubei Province are operating. We forecast the market demand to further recover and to supply 70 per cent of last year’s volume in April 2020. In most of the other key markets, the constr...