Displaying items by tag: coronavirus

China: Huaxin Cement has forecast a 9 -14% year-on-year fall in full-year net profit in 2020, of up to US$140m. It said that it recorded a net profit attributable to shareholders after deducting non-recurring gains and losses of around US$980m in 2019.

The company said, “The main reason for 2020 performance decline is the hit of Covid-19 in the first half of this year and vast flood disaster along Yangtze River in July 2020. The sales volume of main products were hugely affected and the price fell to some extent, leading to the reduction in the operating revenue.”

India: Credit ratings agency ICRA expects cement demand to rise by 20% year-on-year in the 2022 Indian financial year, which starts in April 2021, allowing the local market to return to volumes previously seen before the coronavirus pandemic. In its latest report the credit ratings agency predicts that growth will be supported by rural demand, including affordable housing, and recovery in infrastructure segment, according to the Press Trust of India. Cement production capacity is forecast to increase by up to 22Mt compared to 17Mt in the previous year. Most of this additional capacity is expected to be in the eastern region. Capacity utilisation rates should recover to 64% from 56%.

Switzerland: CemSuisse, the Swiss cement association, says that cement deliveries fell by 1.5% year-on-year to 4.15Mt in 2020. Deliveries remained stable in the first quarter before falling by 3.3% year-on-year in the second quarter at the same time of the first wave of the coronavirus pandemic. They subsequently recovered to a small increase in the third quarter before falling by 3.1% year-on-year in the fourth.

Jamaica: Caribbean Cement says that it produced a record 0.94Mt of cement in 2020 due to market demand. This has been attributed to capital investment, positive government policies in response to the coronavirus pandemic, the company’s own reaction and the ‘expertise’ of its employees. It said it did not experience an overall loss of productive time due to closures related to the public health situation. Heavy rainfall, inconsistent power supplies and disruptions to mining in the third quarter of 2020 prevented the cement producer from surpassing 1Mt for the year.

“The market responded opposite to what might have been expected given the pandemic. Instead of slowing down, construction grew, and we kept in step with our customers by meeting their demand consistently. We will continue to ramp up production as the market grows,” said Yago Castro, General Manager of Caribbean Cement. He added, “The Government of Jamaica assessed the situation well and allowed critical sectors to continue operating once certain protocols were followed. Prioritising health, while keeping economic goals in mind, have mitigated against the negative impact on our sector.”

Dominican Republic: The Dominican Association of Portland Cement Producers (ADOCEM) estimates that local production fell by 8% year-on-year in 2020 due to the coronavirus pandemic. Julissa Báez, the executive director of ADOCEM, said this compared to a 16% drop in the construction industry generally, according to local media. She added that local cement plants were allowed to continue production during a local lockdown that started in March 2020.

Bangladesh: The Bangladesh Cement Manufacturers Association (BCMA) has called on the state-owned Bangladesh Bank (BB) to extend an ongoing moratorium period on the payment of loan instalments by another six months to mid-2021 in response to the negative economic effects of the coronavirus pandemic. The original loan window was schedule to end on 31 December 2020, according to the Dhaka Tribune newspaper. The association has also called for a fixed lending rate for non-government lenders due to rising costs. Local cement sales fell by 13% year-on-year in the five months from January to May 2020 due to a coronavirus-related lockdown that ended in late May 2020.

US: Cemex USA has delivered grants via the Cemex Foundation to over 80 non-profit organisations so far in 2020 as part of its coronavirus relief efforts. The funds donated by Cemex USA employees have provided more than a quarter million meals to those facing food insecurity and overall have positively impacted more than 200,000 people in California, Nevada, Arizona, Colorado, Texas, Alabama, Tennessee, Pennsylvania, Georgia and Florida. The initiative also supplied more than 20,000 pieces of personal protective equipment (PPE) for medical staff and first responders.

“Covid-19 has created far-reaching impacts and unparalleled challenges, prompting thousands of families to request additional support for food and shelter while they continuously worry about the health and safety of themselves and their loved ones. At Cemex USA, we wanted to help our neighbours and communities during this unprecedented time,” said Cemex USA president Jaime Muguiro. “The help provided by non-profits right now is critical, and we are proud to be able to deliver significant support for their initiatives that are making a difference in our communities.”

Organisations that have benefited from the grants include: United Way of Central Alabama (UWCA) in Birmingham, Alabama; Feeding South Florida in Florida; Feed the Frontline Houston in Houston, Texas; Lyons Emergency Assistance Fund (LEAF) in Lyons, Colorado; House of Refuge in South Mesa, Arizona; and Heart of Los Angeles Youth (HOLA) in Los Angeles, California.

Romania: Holcim Romania and its subsidiary Somaco have donated around Euro0.95m to local hospitals to help buy equipment to manage the ongoing coronavirus pandemic. 20 hospitals in the counties of Alba, Arad, Argeș, Bihor, Buzău, Cluj, Dâmbovița, Iași, Neamț, Prahova, Timiș, Vrancea and Bucharest will benefit from the funds. It will be used to buy protective gear and medical equipment such as medical monitors, ventilators and fans. This latest donation follows one in April 2020 bringing Holcim Romania’s total to around Euro1.5m.

Italy: Federbeton, the Italian cement and concrete association, has called for a coordinated infrastructure investment plan to restart the national economy once the coronavirus crisis recedes. It has noted a halt to production not seen since the 1940s during the current crisis and a general reduction in cement consumption to 17Mt/yr from 47Mt/yr over the last decade, according to the Agenzia Nazionale Stampa Associata (ANSA). It is calling on a strategic plan for the sector to make any post-pandemic economic recovery as efficient as possible.

Argentina: 40 employees of China Nation Building Materials (CNBM) subsidiary Sinoma International Engineering have arrived at the site of Loma Negra’s upcoming L’Amalí cement plant in Olavarría. El Popular Medios News has reported that the engineers will complete work on the plant in time for commissioning in March 2021. The engineers caused a stir at the Ezeiza International Airport as they were dressed in protective clothing and masks unlike many other local travellers.