15 February 2019
Eurocement signs deal to buy 1000 vehicles from Kamaz 15 February 2019
Russia: Eurocement has signed a deal to buy 1000 gas-powered vehicles from Kamaz. The framework agreement will run until 2022. It was signed at the Russian Investment Forum in Sochi. No value for the deal has been disclosed.
The cement producer has also signed a memorandum of cooperation with Rosavtodor, the Federal Roads Agency, to increase the use of concrete in road construction. The organisations will hold a discussion on regulatory standards for the use of mineral binders in road construction and Rosavtodor will consider a pilot project.
Cementir sales down in 2018 due to issues in Egypt and Norway 15 February 2019
Italy: Cementir Holding’s sales revenue fell by 4.2% in 2018 on a like-for-like basis due to poor performance in Egypt and Norway. Military operations in the Sinai impacted production in Egypt between February and May 2018 and bad weather in Norway affected the first quarter. However, it noted good results in Malaysia, Belgium and China.
On an adjusted basis its revenue rose by 4.9% to Euro1.2bn from Euro1.14bn. Earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 7.1% to Euro239m from Euro223m. Grey and white cement sales volumes fell by 4.4% to 9.8Mt from 10.3Mt. Ready-mixed concrete volumes fell slightly to 4.9Mm3.
FYM-HeidelbergCement to invest Euro2.5m at Port of Malaga 15 February 2019
Spain: FYM-HeidelbergCement plans to invest Euro2.5m in a new 4900m2 plot at the Port of Malaga. The company will use the unit to export cement and clinker, according to the La Opinión de Málaga newspaper. At present the cement producer exports 0.5Mt/yr of clinker to markets in Africa, South America and Europe. FYM-HeidelbergCement operates an integrated cement plant in Malaga.
India: The Builders Association of India has urged that the state government of Tamil Nadu take measures to reduce the price of cement following a 37% rise in the cost of the commodity. Chairman S Ayyanathan said cement prices had witnessed ‘sharp’ increase in the last 10 days, despite the cost of raw materials, labour and transportation remaining static, according to the Hindu newspaper. He also cited falling demand for cement due to a slowdown in construction activity in the state.
KKR considering investing US$284m in Emami Group 15 February 2019
India: US private equity company KKR is reportedly discussing investing up to US$284m in Emami Group. Sources quoted by the Economic Times newspaper said that Emami Group was looking to reduce its debts and raise funds for an expansion strategy.
Yamama Cement sales fall due to low demand and high competition 15 February 2019
Saudi Arabia: Yamama Cement’s sales fell by 30% year-on-year to US$139m in 2018 from US$199m in 2017. Its profit decreased by 82% to US$9m from US$51m. The cement producer blamed its performance on falling demand for cement and ‘fierce’ competition.
Unions warn of cement shortages in Paraguay 15 February 2019
Paraguay: Union representatives at Industria Nacional del Cemento (INC) have warned of shortages in mid-February 2019. They have cited a shortage of bags at its Villeta plant and problems with the kiln at the Vallemi plant, according to the ABC Color newspaper. The president of INC has denied the claims. Local cement sales are expected to rise by 7.7% year-on-year to 1.4Mt in 2019 from 1.3Mt in 2018.