Argentina: Loma Negra has announced its financial results for the second quarter of 2024. Net sales were US$147m, down by 28% year-on-year. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) fell to US$51m, a 19% decrease from the second quarter of 2023. Net profit reached US$31.6m, up by 226% from US$9.7m in the same period in 2023, reportedly due to the ‘solid’ operational results and an improvement in the net total finance gain.

CEO Sergio Faifman said "We are glad to report another set of solid results. We are optimistic that this positive trend in the industry will consolidate, as July 2024’s dispatch figures already show significant improvement. Therefore, we have strong indications to expect further recovery in the second half of 2024."

UK: Following a successful trial in mid 2024, Aggregate Industries will deploy the ‘first electric cement truck in the UK’, according to the company, with more to follow. The trucks will be based at the Cauldon cement plant, alongside the company’s existing fleet of 60 trucks. The vehicles are equipped with a 600kW motor to deliver both bulk and bagged cement. Aggregate Industries has partnered with Lomas Distribution, its contracted haulier for the UK domestic market.

Gareth Durnall, general manager at Lomas Distribution, said "We are excited to work together with Aggregate Industries in adopting sustainable practices."

Steve Curley, Aggregate Industries’ managing director of cement division, said "Introducing electric trucks in our operations marks a pivotal shift towards efficiency and sustainability and is all part of our ongoing effort to decarbonise the business and contribute to our own net zero Strategy."

Ukraine: Companies belonging to the Ukrcement association increased cement production by 24% year-on-year to 3.8Mt between January and June 2024, according to a press release.

Clinker production also rose by 13% year-on-year to 3Mt.

The statement said "Despite the enormous challenges of the war, the enterprises of the Association of Cement Producers of Ukraine Ukrcement continue to adapt to new realities and produce strategically important products – cement.”

Saudi Arabia: Eastern Province Cement Company raised its sales by 29% year-on-year to US$156m in the first half of 2024. Its net profit grew to US$34.1m, up by 20% year-on-year.

Lithuania: Akmenės Cementas has completed a €30m upgrade to its Akmenės cement plant. BNS News has reported that the upgrade will enable the plant to raise its alternative fuels (AF) substitution rate to 90%. The work included the construction of supporting infrastructure, including a storage facility. The Lithuanian Environmental Project Management Agency granted the project €4.3m under its Climate Change Programme.

Akmenės Cementas sold 1.1Mt of cement in 2023, 74% of it on the local Lithuanian market, with the remainder exported to other EU markets.

Saudi Arabia: Southern Province Cement's sales dropped to US$124m in the first half of 2024, down by 2.5% year-on-year. Nonetheless, the company grew its net profit by 36%, to US$24.5m.

Tunisia: Les Ciments de Bizerte continues to face disruptions due to a financial crisis, limiting its operations to grinding imported clinker and managing petcoke shipments for third parties, African Manager News reports. Clinker production has been suspended throughout the second quarter of 2024, due to a lack of petcoke.

Cement production plummeted by 70% to 33,282t in the second quarter of 2024 from 109,855t during the same period in 2023. Lime production also declined by 37% due to reduced national demand. Local sales in the first half of 2024 decreased by 60% from US$16.3m in 2023 to US$6.6m in 2024, with exports completely halted during the first half of 2024. The company is in the process of paying off its debts.

Taiwan: Taiwan will initiate an anti-dumping investigation into cement and clinker imports from Vietnam in August 2024, according to the Trade Remedies Authority of Vietnam (TRAV) under the Ministry of Industry and Trade. The TRAV has advised the Vietnam Cement Association to inform its members and coordinate with Taiwanese importers for market monitoring, reports the Vietnam News Brief Service. Companies must provide export data from 2021 to mid-2024 by 12 August 2024.

Vietnamese cement and clinker exports have seen a decline in recent years. In 2023, exports fell to 31.3Mt, valued at US$1.32bn, down by 1.2% year-on-year. From January to July 2024, exports decreased further to 18.3Mt, worth US$705m, a decline of 1% compared to the same period in 2023. The VNCA forecast continued challenges for cement and clinker exports due to China’s stagnant real estate market and surplus cement production.

Kyrgyzstan: Amidst a nationwide construction boom, Kyrgyzstan faces a cement shortage in its northern regions, Central Asia News reports. The current production in northern plants is insufficient, leading to imports from Kazakhstan which do not meet demand.

Nurdan Oruntaev, Head of State Construction Agency, said “I think the problem will be resolved with the launch of two new cement plants, which are under construction. Prices can then be regulated."

Dominican Republic: Cemex has signed an agreement to sell its operations in the Dominican Republic to Cementos Progreso Holdings and partners for US$950m. The sale includes a cement plant with a capacity of 2.4Mt/yr, 12 concrete plants, a quarry and two distribution centres, as well as export businesses to Haiti.The divestment is expected to finalise in the fourth quarter of 2024, pending closing conditions.

Fernando Gonzalez, CEO of Cemex, said "This transaction advances us significantly in our portfolio rebalancing strategy which is focused on reducing our exposure in emerging markets and redeploying capital into growth investments in priority markets, primarily the US."