Cement News tagged under: south Asia
Vicem signs agreement to export 6Mt to the Philippines25 November 2022, Published under Cement NewsVietnam Cement Industry Corp (Vicem) has signed an agreement with Fenix (CEZA) International Inc and Gold Falcon Trading Corporation to export 6Mt of cement and clinker to the Philippines in 2023-25, reports Vietnam News Brief Service. Vicem currently operates 10 cement plants with a total production capacity of over 25Mta of cement and 21Mta of clinker. Its sales reportedly account for almost 33 per cent of Vietnam’s total cement and clinker sales and 23 per cent of its exports. Eac... |
Holcim Philippines posts loss as expenses rise14 November 2022, Published under Cement NewsHolcim Philippines has reported a 6.93 per cent increase in total revenue to PHP6.94bn (US$121.17m) in the third quarter of 2022, up from PHP6.49bn in the same period a year earlier. Despite this, the company posted a net loss of PHP173.28m in the 3Q22, down from a profit of PHP669.26m in the 3Q21. According to the company, this was due to higher expenses with its gross expense increasing by 13.3 per cent from PHP5.62bn to PHP6.37bn over the same period. Revenue for the opening nine mon... |
Siam Cement sees sales advance 8% in 3Q2228 October 2022, Published under Cement NewsThailand-based Siam Cement Group (SCG) has reported sales of THB142,391m (US$3774m) in the third quarter of 2022, up eight per cent from THB131,825m in the same period a year earlier. According to the company, the increase has been driven by higher product prices. Net income over the same timeframe fell from THB6817m to THB2443m, while basic earnings per share from continuing operations declined from THB5.68 to THB2.04. In the opening nine months of 2022, sales came in at THB447,419m, ... |
Philippines producers lose appeal to extend import duty18 October 2022, Published under Cement NewsThe Tariff Commission (TC) in the Philippines has declined an appeal by local cement producers to extend the customs duty on imported cement. According to the Manila Bulletin, the three-year customs duty designed to safeguard the local industry from imports is due to expire in October 2022. Although the Cement Manufacturers Association of the Philippines (CeMAP) lodged a request with the TC to extend the tariff, the request was denied as the TC found that there was “no imminent threat” from ... |
APO Cement suspends Davao terminal05 October 2022, Published under Cement NewsAPO Cement Corporation , part of Cemex Holdings Philippines Inc , has temporarily suspended operations at its Davao terminal in the Philippines due to the constant influx of cement imports, reports Manila Bulletin. The continued arrival of imports, particularly from Vietnam, has led to rising costs and falling volumes, according to APO. “Our operational costs in maintaining the Davao terminal have increased and continue to increase, while our volumes are decreasing due to the unabated en... |
Eagle Cement majority stake to San Miguel05 October 2022, Published under Cement NewsSan Miguel Corp (SMC) is to acquire an 88.5 per cent stake in Eagle Cement Corp , reports GMA News. SMC said its boards of directors authorised the management of the corporation to “negotiate and enter into a share purchase agreement with the selling shareholders.” The selling shareholders of Eagle Cement include Ramon Ang, John Paul Ang, Monica Ang, and Far East Holdings Inc (FEHI), the latter of which is majority owned by Ramon Ang. The approved acquisition price is reportedly PHP22.0... |
CEMEX supplies longest bridge in the Philippines08 September 2022, Published under Cement NewsCEMEX has announced that it was the sole supplier of cement for the construction of the longest bridge in the Philippines. The company supplied nearly 70,000t of cement for the construction of the Cebu-Cordova Link Expressway (CCLEX), which was inaugurated in April this year. CCLEX connects Cebu City to the municipality of Cordova on Mactan Island and spans a total of 8.9km, standing on twin tower pylons reaching 145m in height. The bridge, which cost PHP33bn (US$577.8m) to construct, i... |
SIG sees revenue fall 2% in 1H2205 September 2022, Published under Cement NewsIn the first half of 2022, Semen Indonesia Group (SIG) has reported revenue of IDR15,876bn (US$1064m), down 2.1 per cent on the same period last year. The decline was mainly driven by lower sales volumes with domestic sales volumes down 2.6 per cent YoY to 13.9Mt on the back of the Lebaran holidays following a two-year gap during the pandemic, along with a shift in people’s spending priorities away from property and renovation work. Regional sales volumes fell 39.2 per cent YoY to 2.9Mt, t... |
Luks Group (Vietnam Holdings) reports 4% YoY drop in revenue02 September 2022, Published under Cement NewsLuks Group (Vietnam Holdings) Company Ltd has announced revenue of HKD266.3m (US$33.9m) in the first half of 2022, down 4.1 per cent from HKD277.7m in the same period a year earlier. Profit over the same period declined from HKD42.1m to HKD23.5m, while earnings per share contracted from HK8.5c to HK5.1c. Over the six months, the cement and clinker sales of the group’s cement plant was approximately 420,000t, down 19.8 per cent on the 524,000t sold in the 1H21. From its cement business,... |
Vietnamese cement consumption falls 27% in July18 August 2022, Published under Cement NewsCement consumption in Vietnam came in at 5.95Mt in July 2022, down 27 per cent compared to July 2021, according to data from the Department of Building Materials under the Ministry of Construction. Domestic consumption in July reached 4.85Mt while exports stood at around 1.1Mt. For the first seven months of 2022, cement consumption was an estimated 54.99Mt, a decline of 17 per cent YoY, with domestic consumption down three per cent over the same period to 36.84Mt. According to the Departm... |