16 August 2024

Ukraine: CRH Ukraine has announced plans to purchase a 99.9775% stake in Dyckerhoff Cement Ukraine, which operates two cement plants in the Rivne and Mykolayiv regions, according to Business World Magazine. The notification was made public on 12 August 2024, detailing the acquisition of over 158 million shares. Currently, CRH and its affiliates do not hold any shares in Dyckerhoff Cement Ukraine.

Philippines: Thailand-based producer Shera announced that its upcoming fibre cement plant in Mabalacat, Pampanga, has reached 60% completion and is on schedule to commence commercial operations by January 2025. The plant will be the company’s first production facility outside Thailand, capable of producing 0.24Mt/yr of fibre cement. The Mabalacat facility will also export to Taiwan, South Korea and parts of North Asia and Oceania and will create jobs for up to 150 people.

Ongek Taechamahaphant, chair and director, said “Our Mabalacat plant is a major step in Shera’s plan to expand further in the Philippine market. We know that once this facility is fully operational by 2025, more Filipinos will easily be able to access our eco-friendly and durable fibre cement products.”

Philippines: Cemex has received approval from the Philippine Competition Commission (PCC) to sell 90% of Cemex Holdings Philippines's shares. The approval relates to a joint acquisition by DMCI Holdings, Semirara Mining and Power and Dacon of shares in Cemex Asian South East Corporation, which holds a major stake in Cemex Holdings Philippines. This clearance is a requirement for finalising the transaction, contingent on further compliance by the acquiring companies.

Vietnam: Taiwan has launched an anti-dumping investigation into cement and clinker imported from Vietnam. The Trade Remedies Authority of Vietnam announced that Taiwan's inquiry, initiated on 8 August 2024, focuses on cement and clinker with the import codes 2523.29.90.00.2 and 2523.10.90.00.3, requested by the Taiwan Cement Manufacturers Association. The investigation will assess imports from 1 July 2023 to 30 June 2024, targeting seven specific Vietnamese companies, among other exporters. The Vietnamese companies are mandatory respondents in this investigation and must engage fully by submitting the required information to the Ministry of Finance within the stipulated 20 days from initiation of the investigation.

Vietnam: Several Vietnamese cement producers have reported losses in the first half of 2024, attributing the downturn to reduced domestic demand and competitive pricing pressures, reports Vietnam Investment Review. Vicem But Son recorded losses of US$1.5m in the second quarter of 2024, marking its seventh consecutive quarter of losses, with a 2024 first half revenue figure of US$50m, down by 10%, and total losses reaching US$3.83m. Vicem Hai Van also continued its decline, with a 43% drop in second quarter revenue to just over US$4m and losses of US$396,000. Vicem leaders said that challenges arose due to a reduced demand following limited civil engineering projects and a stagnant real estate market.

Despite the sector's overall downturn, firms like Vicem Ha Tien and Chinfon have recorded profits, with Ha Tien posting US$141m in revenue and US$875,000 in profits, and Chinfon doubling its yearly profit to US$25,250. However, the outlook for the remainder of 2024 remains bleak, with anticipated difficulties in market recovery and increasing input costs. Acoording to Vicem, the cost of electricity will continue increasing, while the demand for cement is not anticipated to recover before the end of 2024.