Global Cement News

Cambodia: Thai Boon Rong’s 0.9Mt/yr integrated cement plant in Kampot province was commissioned on 14 November 2019, marking the end of a US$110m construction project on its 678 hectare site in Dangtong District.

Speaking at the inauguration ceremony, Cambodian Prime Minister Samdech Techo Hun Sen said that the plant, Cambodia’s fifth, would help meet rapidly growing domestic demand.

Colombia: Cementos Argos’ revenue in the three months to 30 September rose by 44% year-on-year to US$1.52bn for US$1.06bn. Lower sales across its cement and concrete sections caused the company’s three-month profit to drop by 65% year-on-year to US$10.3m over the period from US$29.6m. Higher costs also offset the income from the sale of the group’s Barranquilla natural gas power station to Glenfarne Group for US$420m in the quarter.

Philippines: Irish-based CRH has engaged JP Morgan, the bankers, for the sale of its entire Philippine unit. The company operates 3.1Mt/yr of integrated and 0.8Mt/yr clinker grinding capacity via its stake in Republic Cement’s three integrated plants and one grinding plant, inherited in 2015 from Lafarge and Holcim as a part of the pair’s merger.

The Irish Times has reported the estimated value of the divestment at between Euro1.82bn and Euro 2.73bn. The announcement caused CRH’s share price to rise to its highest level since May 2017.

Egypt: Misr Cement Qena’s profit in the three months to 30 September took a 67% year-on-year dive to US$1.85m from US$5.56m. Sales continued on an upward trend, ending the period up by 6.3% at US$146m from US$138m in the corresponding period of 2018.

Egypt: Misr Beni Suef’s sales over the three months to 30 September 2019 were US$29.6m, up by 24% from US$23.9m in the corresponding period of 2018. This growth failed to offset the challenges of profitability in a saturated market, with profit falling by 2.7% year-on-year to US$1.34m from US$1.37m.