Displaying items by tag: GCW402

China: Anhui Conch’s revenue grew by 63% year-on-year to US$4.53bn in the first quarter of 2019 from US$2.79bn in the same period in 2018. Its net profit rose by 27% to US$903m from US$710m.

China: China Resources Cement’s turnover fell by 6.7% year-on-year to US$957m in the first quarter of 2019 from US$1.03bn in the same quarter of 2018. Its profit fell by 16% to US$189m from US$226m. Its cement sales volumes dropped by 7.7% to 15.2Mt from 16.5Mt, clinker sales fell by 2% to 1.16Mt from 1.18Mt and concrete volumes declined by 15% to 2.58Mm³ from 3.03Mm³. Sales volumes fell in the company’s main markets in Guangdong and Guangxi.

Qatar: Qatar National Cement Company (QNCC) is preparing to export up to 3Mt/yr of clinker to markets in Asia and Africa. QNCC chairman and managing director Salem Butti al Naimi said that the company was actively taking to Indian companies and that an agreement might be signed soon, according to the Qatar Tribune newspaper. He also mentioned potential targets in Iraq, Yemen and other Gulf Cooperation Council (GCC) states.

Philippines: The Tariff Commission has delayed a public hearing on the formal investigation on the imposition of safeguard measure on cement imports. The meeting was scheduled to take place in early May 2019, according to the Philippine Star newspaper. The commission said it was postponed in order to give it time to visit plants and check its data.

The investigation started in February 2019 to check whether a provisional safeguard duty imposed by the Department of Trade and Industry (DTI) should remain in place. The DTI applied a US$4/t tariff in the form of a cash bond on imported cement in mid-January 2019 for a period of 200 days in response to a surge in imports.

Pakistan: Lucky Cement’s revenue grew by 12% year-on-year to US$729m in the first nine months to 31 March 2019 from US$654m in the same period in 2018. Its local cement and clinker sales volumes dropped by 13% to 4.4Mt from 5.1Mt. Export sales more than doubled to 1.5Mt from 0.7Mt, Overall sales volumes rose to 6Mt. Its income fell by 18% to US$80m from US$97.3m. It said that its cost of sales rose by 14.1% due to rises in the cost of coal, packing material and other fuel prices.

The cement producer said that a 2.6Mt/yr expansion project in Khyber Pakhtunkhwa would be completed by the end of 2019. Contacting for a new 1.2Mt/yr plant in Samawah in Iraq has been finalised including a power plant from Finland’s Wärtsilä. Commercial production at the site is planned for mid-2020.

Namibia: The Development Bank of Namibia (DBN) says it will consult the government about its minority stake in Ohorongo Cement following the purchase of a majority share in the cement producer by Singapore’s International Cement Group. International Cement Group acquired a 69.8% share in Ohorongo Cement from Germany’s Schwenk Namibia in March 2019, according to the Namibian newspaper. The DBN said that it originally invested in Ohorongo Cement to promote economic development in Namibia.

Romania: Data from CIROM, the Romanian cement association, shows that cement sales grew by 5.5% year-on-year to 8.9Mt in 2018, according to the
Ziarul Financiar newspaper. The country operates nine integrated cement plants run by HeidelbergCement, LafargeHolcim and CRH.

US: John King Chains USA has joined the Power Transmission Distributors Association (PTDA). The association brings together over 370 industrial power transmission and motion control distribution channel and manufacturing companies.

Bulgaria/Panama: Germany’s Venti Oelde has increased its sales presence in Europe and Central America. Its has appointed a new sales representative in Bulgaria, as well as one in Panama to cover countries including Mexico, Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. The company manufactures industrial products including fans and filters.

Mexico: Cemex’s cement sales volumes fell by 6% year-on-year to 14.9Mt in the first quarter of 2019 from 15.9Mt in the same period in 2018. It has blamed this on falling volumes in its key markets in Mexico and the US. Its net sales dropped by 3% to US$3.24bn from US$3.34bn. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 6% to US$562m from US$598m. Its concrete sales volumes fell slightly to 12.1Mm3 from 12.2Mm3.

“We are pleased with the 1% top-line growth we achieved during the first quarter, despite volume declines in our two most important markets: Mexico and the US. During the quarter, we enjoyed improved pricing performance in all our regions with favourable volume dynamics in Europe. In the US, ready-mix and aggregates volumes also grew despite adverse weather in part of our footprint,” said Fernando A Gonzalez, chief executive officer (CEO) of Cemex.

By region, the group also reported falling sales in its South, Central America and the Caribbean and Asia, Middle East and Africa regions. However, sales volumes of both cement and concrete increased by over 10% in Europe. Here, net sales rose by 3% to US$805m from US$781m. This was attributed to ‘strong’ domestic demand in most countries and a mild winter.