Displaying items by tag: GCW581

Vietnam: Vietnam Cement Industry Corporation (Vicem) sold 18.5Mt of cement during the first nine months of 2022, up by 6.5% year-on-year from the same period in 2021. The producer's cement and clinker sales volumes totaled 20.9Mt during the period, 71% of its full-year 2022 target.

Vicem recorded a pretax profit of US$60.4m, up by 8.4%. Vicem aims to achieve a US$82.5m pretax profit and increase its revenues by 10% to US$1.49bn.

Vietnam: During the first ten months of 2022, Vietnam National Cement Association (VNCA) members exported 25.9Mt of cement and clinker, with a total value of US$1.16bn. Volumes dropped by 30% year-on-year from 37Mt, while the value of exports dropped by 20% from US$1.43bn.

In 2021 Vietnam exported 43.5Mt of cement and clinker, worth US$1.78bn, up by 13% year-on-year in volume and by 24% in value.

Estonia: Competition authorities have opened additional proceedings into Schwenk Zement subsidiary Schwenk Eesti's deal to acquire a majority stake in Betoonimeister. The parties concluded their agreement in late September 2022.

Betoonimeister supplies ready-mix concrete across Estonia from six batching plants in Jõhvi, Pärnu, Tapa, Tallinn and Tartu. It employs a total of 90 people.

Nigeria: BUA Cement's nine-month 2022 results showed a 41% year-on-year rise to US$596m from US$424m in the same period of 2021. Meanwhile, its profit after tax grew to US$168m, up by 12% from US$150m. Throughout the period, BUA Cement's cost of sales rose by 43% to US$324m from US$226m.

Europe: Ireland-based Ecocem and seven other European sustainable technology companies have launched the Cleantech Scale-Up Coalition, with the backing of green investment funding network Breakthrough Energy. The coalition will work to contribute to European climate neutrality, energy autonomy and industrially competitiveness. Other participants' fields include carbon capture, green hydrogen technologies, transport electrification, batteries and recycling.

Ecocem's managing director Donal O’Riain said “Scalable, low carbon cements, which can decarbonise the European cement industry by 50% by 2030, are ready to deploy today. To do so, they need to be rapidly industrialised. This coalition, which allows Ecocem to combine forces with other world-class companies, will enable our ambition by working to remove the barriers to an accelerated decarbonisation of European, and global, industry.”

India: JK Cement has successfully inaugurated its new 2Mt/yr Hamirpur grinding plant in Uttar Pradesh's Kanpur District. The Indian Express newspaper has reported that the facility will produce grey cement.

Managing director Raghavpat Singhania said "The Hamirpur plant is a significant milestone. The commissioning of this plant has enabled a new growth engine for our grey cement business."

Malaysia: Borneo Oil has entered into a conditional share sale agreement with Makin Teguh's 45% owner Global 2332 to enlarge its stake in the cement company by 31%, to 60%. Borneo Oil has proposed a private placement to raise US$11.3m towards funding the US$21.2m deal. It previously completed a US$4.65m shares issue on 26 October 2022. Bernama Daily Malaysian News has reported that Makin Teguh plans to commence operations at its 220,000t/yr Sabah integrated cement and clinker plant in early 2023. It owns two limestone mines, with total reserves of 14.4Mt.

Malaysia: Cahya Mata Sarawak has informed its customers that its cement despatches will be 'back to normal' by 6 November 2022. The producer's closure of its 1Mt/yr Kuching cement plant for maintenance, followed by unexpected raw materials supply issues, has caused a shortage of cement in western Sarawak State. Bernama Daily Malaysian News has reported that a 14-day delay to raw materials deliveries to the Kuching plant ensued due to heavy rains.

The producer said “We would like to apologise for the shortage of cement, and will strive to ensure a steady supply of cement to all of our customers.”

Cahya Mata Sarawak has successfully maintained regular supply of cement to other areas of Sarawak, including Bintulu, Miri and Sibu, through despatches of cement from its Bintulu grinding plant.

Switzerland: Holcim increased its consolidated sales by 14% year-on-year during the first nine months of 2022 on a like-for-like basis, to US$22.8bn from US$19.9bn. Its recurring earnings before interest and taxation (EBIT) rose by 6.5% to US$3.74bn from US$3.53m. The group’s cement segment’s sales volumes were 139Mt, down by 1%. The segment contributed US$13bn in sales, up by 14%. Concrete sales volumes were 36.6Mm² , up by 4.1%. During the reporting period the group completed its divestment of its operations in India and Brazil and derived cash proceeds of US$7.3bn. Overall net sales grew in all five of the group’s business regions on a like-for-like basis with particular growth noted in the Americas. Cement sales volumes fell in Asia Pacific, Europe and Middle East Africa.

Thailand: Siam Cement Group (SCG) recorded revenues of US$11.8bn during the first nine months of 2022, up by 15% year-on-year from US$10.2bn in the corresponding period of 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 26% to US$1.37bn from US$1.86bn.

SCG recorded nine-month costs growth of 15%, to US$3.29bn from US$2.85bn. The Bangkok Post newspaper has reported that the group says that its monthly energy costs have risen by 50% since the outbreak of the Russia-Ukraine war. As such, it is currently focusing its investments on three ‘key’ business areas with smaller energy consumptions than cement. These are smart living, renewable energy and logistics.

SCG renewables subsidiary SCG Cleanergy aims to more than double its renewable power generation capacity to 500MW before 2026 and further increase it to 5GW before 2028. This will consist of wind farms and roof-mounted and floating solar power plants. Meanwhile, SCG Logistics Management secured approval to merge with JWD InfoLogistics on 26 October 2022.