Global Cement
The ultimate filtration fibre for cement plants - Evonik - Leading Beyond Chemistry
Online condition monitoring experts for proactive and predictive maintenance - DALOG
Extend the service life of your kiln with veneering. Expect the best. REFRATECHNIK
Your Particulate and Gaseous pollution abatement partner - Thermax
  • Home
  • News
  • Conferences
  • Magazine
  • Directory
  • Reports
  • Members
  • Live
  • Login
  • Advertise
  • Knowledge Base
  • Alternative Fuels
  • Services
  • Jobs
  • Privacy & Cookie Policy
  • About
  • Register
  • Trial subscription
  • Contact
News GCW328

Displaying items by tag: GCW328

Subscribe to this RSS feed

Update on Argentina

15 November 2017

Forget the news stories about poor markets in Colombia and Brazil. Argentina is riding a construction boom right now. Local producer Loma Negra recently ran an initial public offering and it picked a good time to do it. It aimed to generate up to US$800m from the flotation and in the end it raised over US$1bn. Good news for its Brazilian owner InterCement no doubt, which was last reported as aiming to sell a 32% stake in the company in order to cover its debts. More cheer must have followed from Loma Negra’s third quarter results this week. Its cement sales volumes rose by 9% in the latest quarter to 1.72Mt due to expanding local construction activity.

Graph 1: Cement production and consumption in Argentina Q1 – 3, 2008 – 2017. Source: Asociación de Fabricantes de Cemento Portland (AFCP).

Graph 1: Cement production and consumption in Argentina Q1 – 3, 2008 – 2017. Source: Asociación de Fabricantes de Cemento Portland (AFCP).

As Graph 1 shows its experience mirrors the wider industry. Cement production rose by almost the same rate for the industry as whole, by 10% year-on-year to 3.19Mt for the quarter, according to Asociación de Fabricantes de Cemento Portland (AFCP) data. For the nine months as a whole production has also risen by 9% to 8.7Mt. This figure is the third highest in the last decade since 2008. Production peaked in 2015 before dropping a major 10Mt following a subdued construction industry in the wake of devaluation of the Argentinean Peso in late 2015 and early 2016. At the time LafargeHolcim, the operator of Holcim Argentina, also blamed the negative influence of neighbouring Brazil’s own financial woes. The economy has bounced back giving the country’s its highest nine month cement consumption figure, 8.8Mt, in the last decade.

Earlier in the year LafargeHolcim said it was importing 0.25Mt of cement into Argentina between May 2017 and April 2018 because it couldn’t meet local demand from its own plants. Given the over-abundance of clinker in the world one might be forgiven for being sceptical about this claim. Bolivia’s Itacamba announced it was also exporting cement to Argentina this week. However, the other point to note from the graph is that consumption has been about 90,500t higher than production so far in 2017. This is an envious position for local producers to be in. One more striking feature that sticks out from the graph above is the undulating curve than both production and consumption has. The Argentinean economy has been through the ringer in recent years and this shows in the ups and downs of the figures.

From the perspective of the three major domestic producers, Loma Negra’s sales revenue rose by 53.9% year-on-year to US$620m in the first nine months of 2017. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by a whopping 73% to US$157m. Cementos Avellaneda, owned by Spain Cementos Mollins and Brazil’s Votorantim, reported similar good news with its overall results boosted by the Argentine market. Its sales revenue in the country rose by 28.3% to Euro130m and its EBITDA rose by 59.5% to Euro32.4m. Although Mollins did make the point that inflation had been particular problem in Argentina, although its impact had been ‘greatly’ outweighed by price rises. LafargeHolcim has had its problems globally so far in 2017 but Argentina hasn’t been one of them. Its operations in the country have been propping up the group’s Latin American results each quarter so far in 2017. Despite being one of its smaller regions by sales revenues, its sales and earnings delivered some of the group’s highest growth in the third quarter of 2017.

In this kind of environment new production capacity can’t be far away. Sure enough Cementos Avellaneda plans to increases the capacity of its San Luís cement grinding plant by 0.7Mt to 1Mt/yr by the second quarter of 2019. US$200m has been earmarked for the project.

So, great news for Argentina and proof that poor markets can turn around. The Brazilian cement association SNIC reckoned in October 2017 that the rate decline of cement sales was slowing, suggesting that the bottom of the downturn was in sight. On the evidence of the current situation in Argentina once the market does revive, South America will be the place to watch.

Published in Analysis
Read more...

Ross Wilkin and Michael Werner join senior team at HarbisonWalker International

15 November 2017

US: Refractory manufacturer HarbisonWalker International (HWI) has announced two new members of its senior leadership team. Ross Wilkin has joined as chief financial officer (CFO) and corporate treasurer, and Michael Werner has joined as senior vice president, Commercial and corporate officer.

Wilkin joins HWI from Universal Stainless & Alloy Products, where he served as CFO. Before his role at Universal Stainless, he was CFO at Dynamics. Much of Wilkin’s career has been spent with HJ Heinz Company where he eventually became the became the vice president and CFO for the company’s Australia and New Zealand organisation. He began his finance career at KPMG, serving both in Toronto, Canada and in Cleveland, Ohio. A graduate of Carlton University with a Bachelor of Commerce degree in Accounting and Finance, Wilkin is a certified public accountant in both Canada and the US.

Werner previously led global commercial operations for Loparex. Prior to this he spent 20 years at GE Plastics and Sabic in numerous domestic and global roles, where he progressed to become Product General Manager. He began his career at Monsanto as an engineer in Technical Development and as a manager of Business Development in the thermoplastic elastomer business. Werner holds a Bachelor of Science degree in Polymer Science from the Pennsylvania State University.

Published in People
Read more...

Police search offices of LafargeHolcim and GBL in relation to Syria probe

15 November 2017

France/Belgium: French police have searched the Paris offices of LafargeHolcim as part of an on-going investigation into the company’s conduct in Syria. At the same time the offices of Belgium’s Groupe Bruxelles Lambert (GBL) were also searched, according to the Agence France Presse (AFP). Both companies said they were cooperating with the investigations.

A source quoted by AFP said that the investigators are trying to find out if GBL had been aware of Lafarge Syria’s activities in Syria. GBL is a shareholder of LafargeHolcim that held a 9.4% stake at the end of 2016. The investigation as a whole is attempting to determine whether LafargeHolcim’s predecessor company Lafarge Syria paid terrorist groups in Syria and how much managers knew about the situation.

Published in Global Cement News
Read more...

Votorantim Cimentos holds stable sales revenue in third quarter of 2017

15 November 2017

Brazil: Votorantim Cimentos’ sales revenue has remained stable at US$968m in the third quarter of 2017, boosted by its performance in North America. At home in Brazil the cement producer benefitted from improved market conditions, including higher prices and higher revenues from mortars and agricultural lime. Despite this though its local revenue fell by 4.9% year-on-year in line with the national market. The cement producers adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 27% to US$157m but the company blamed this on a non-recurring tax adjustment.

Published in Global Cement News
Read more...

Lafarge Africa shareholders approve merger with United Cement Company of Nigeria and Atlas Cement

15 November 2017

Nigeria: The shareholders of Lafarge Africa have approved the merger with United Cement Company of Nigeria (Unicem) and Atlas Cement. Lafarge Africa chairman Bolaji Balogun said that the merger would streamline its operations and reduce its costs, according to the Nigerian Guardian newspaper. Lafarge Africa is the sole shareholder of Unicem and Atlas Cement.

Unicem operates the 5Mt/yr Mfamsoing cement plant at Calabar in Cross River State. Atlas Cement runs a 0.5Mt/yr terminal in Rivers State at the Federal Ocean Terminal in Onne. It originally supplied Ordinary Portland Cement but is now changing its market to the oil and gas sector.

Published in Global Cement News
Read more...

Ghana and Iran building US$30m cement plant in joint venture

15 November 2017

Ghana/Iran: Ghana and Iran are building a 0.6Mt/yr cement plant at the Dawa Industrial Enclave near Tema in Ghana. Vice President Mahamadu Bawumia commissioned construction work at the project, according to the Ghana News Agency. The plant is scheduled for completion in late 2019. The project is a joint venture between the two countries, with Iran holding a 90% stake.

Published in Global Cement News
Read more...

Suez Cement to merge with Helwan Cement

15 November 2017

Egypt: The board of directors of Suez Cement has agreed to merge with Helwan Cement. It also agreed to sell a 5% stake in Tura Cement. Both Suez Cement and Helwan Cement are owned by HeidelbergCement. Suez Cement operates two plants at Suez and Kattameya. Helwan Cement runs a single plant at Helwan.

Published in Global Cement News
Read more...

CRH expresses formal interest in bidding for PPC

14 November 2017

South Africa: Ireland’s CRH has submitted a formal expression of interest to PPC towards making a cash offer for a controlling stake in the South African cement producer. The board of PPC has given CRH until the week commencing 20 November 2017 to conduct due diligence and make a firm offer. PPC said that it is still considering an offer from Fairfax Financial Holdings with the aid of Investec. It is also in discussion with LafargeHolcim about a potential deal.

Published in Global Cement News
Read more...

Wagners’ initial public offering threatened by rival cement grinding plant in Brisbane

14 November 2017

Australia: An initial public offering by Wagners has been threatened from plans by a rival company to build a cement grinding plant and terminal in Brisbane, Queensland. Wagners operates its own 0.8Mt/yr grinding plant in the city and commentators mentioned by The Australian newspaper have speculated that this increased competition locally could damage its aspirations. However, Wagners believes that the new plant is unlikely to be built. The 0.2Mt/yr project from brick and tile maker Brickworks, in a consortium with Newman Quarrying and the Neilsen Group, remains in the planning stage.

Published in Global Cement News
Read more...

Cementos Argos sales revenue and earnings down so far in 2017

14 November 2017

Colombia: Cementos Argos’s sales revenue and earnings have fallen in the first nine months of 2017 due to poor performance in Colombia. Its sales revenue fell by 1.3% year-on-year to US$2.14bn from US$2.17bn in the same period in 2016. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 16.8% to US$352m from US$424m. However, its cement sales volumes rose by 15.4% to 12.2Mt from 10.5Mt.

“Thanks to the sound implementation of the BEST Program, we have made significant improvements in a particularly challenging year for our industry. By the end of this year, we are optimistic about the performance of all the markets in which we operate,” said Juan Esteban Calle, chief executive officer (CEO) of Cementos Argos.

By region, the cement producer reported growth in the US but problems in Colombia. It highlighted that cement and clinker imports to Colombia have fallen in 2017 due to rising tariffs. It also expects the local market to recover in 2018. In the Caribbean and Central America the group’s performance suffered from extreme weather events, although it managed to grow its revenue. It also reported that its cement plant in Puerto Rico is still not operational.

Published in Global Cement News
Read more...
  • Start
  • Prev
  • 1
  • 2
  • 3
  • Next
  • End
Page 1 of 3
“AI
“Loesche
“Airscape
We Move Industries - Heko Group - Conveyor Solutions
Original Services - We Move the World - Flender
System Solutions for the Construction Materials Industry - Schmersal - The DNA of Safety
“Register
Acquisition Cemex China CO2 concrete coronavirus Export France Germany Government grinding plant HeidelbergCement Holcim Import India Lafarge LafargeHolcim Mexico Nigeria Pakistan Plant Product Production Results Russia Sales Sustainability UK Upgrade US
« May 2022 »
Mon Tue Wed Thu Fri Sat Sun
            1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31          



Sign up for FREE to Global Cement Weekly
Global Cement LinkedIn
Global Cement Facebook
Global Cement Twitter
  • Home
  • News
  • Conferences
  • Magazine
  • Directory
  • Reports
  • Members
  • Live
  • Login
  • Advertise
  • Knowledge Base
  • Alternative Fuels
  • Services
  • Jobs
  • Privacy & Cookie Policy
  • About
  • Register
  • Trial subscription
  • Contact
  • Conferences & Webinars >>
  • Global Ash
  • Global CemBoards
  • Global CemCCUS
  • Global CemEnergy
  • Global CemFuels
  • Global CemPower
  • Global CemProcess
  • Global CemProducer
  • Global Cement Quality Control
  • Global CemTrans
  • Global Concrete
  • Global FutureCem
  • Global Gypsum
  • Global GypSupply
  • Global Insulation
  • Global Slag
  • Global Synthetic Gypsum
  • Global Well Cem
  • African Cement
  • Asian Cement
  • American Cement
  • European Cement
  • Middle Eastern Cement
  • Magazine >>
  • Latest issue
  • Articles
  • Editorial programme
  • Contributors
  • Link
  • Awards
  • Back issues
  • Subscribe
  • Photography
  • Register for free copies
  • The Last Word
  • Websites >>
  • Global Gypsum
  • Global Slag
  • Global CemFuels
  • Global Concrete
  • Global Insulation
  • Pro Global Media
  • PRoIDS Online
  • Social >>
  • LinkedIn
  • Facebook
  • Twitter

© 2022 Pro Global Media Ltd. All rights reserved.