Global Cement News

Russia: Belarusian Cement Company (BCC) increased its cement supplies to the Russian Federation by 3.5% year-on-year in the first half of 2024, and by 50% in June 2024, reports Belta News. Major sales markets for BCC in Russia include Moscow, Moscow Oblast, the Central Federal District and the North-Western Federal District.

Vyacheslav Golovatsky, deputy director general for foreign economic activities, credited the growth in foreign cement sales to logistics. He said “We did a lot of work in 2023. We created a commodity distribution network, BCC-Soyuz, which has its own cement transshipment facilities. When there were difficulties with cement delivery in late 2023 – early 2024, logistics came into play. We started routing deliveries, launching our own trains that consisted of our own cars. In March 2024, our first route train went to Russia, in May 2024 we had already 12 BCC route trains, and in June 2024 - 15. Our products have been delivered to transshipment facilities, unloaded and distributed to consumers more promptly.”

India: Kaushalya Logistics (KLL) has launched a new cement depot in Ahmednagar, Maharashtra, enhancing its logistics services for Adani Cement. The depot will handle approximately 120,000t/yr of cement, supporting ACC and Ambuja Cement brands.

KLL has also introduced a new vertical in freight forwarding under full truck load services, commencing operations with VMS Equipment, a group company of construction equipment manufacturer ACE.

Managing director Uddhav Poddar said “We are thrilled to start this new association with Adani group with a new depot in Ahmednagar. Our collaboration with Adani Cement showcases our cement logistics capabilities, and our entry into the freight forwarding market marks a pivotal step in our growth strategy.”

Nigeria: An update has been released on the cement plant planned in Bauchi State, on which Global Cement previously reported on 11 June 2024. On 7 August 2024, the Bauchi State government signed a Memorandum of Understanding (MoU) worth US$1.5bn with Resident Cement Company to establish a cement plant in Gwana District, the Nigerian Tribune reports. The plant is expected to produce 10Mt/yr of cement. The project includes a 100MW power plant, a dam and other amenities for the community, which will reportedly help to attract foreign investment and boost the local economy.

US: CRH has announced its financial results for the second quarter of 2024. Revenue was US$9.7bn, down by 1% year-on-year, net income was US$1.3bn, up by 8% year-on-year, and adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were US$2.3bn, up by 12%. CRH raised its 2024 financial year guidance, projecting net income increase to US$3.85bn from the previous figure of US$3.7bn and an adjusted EBITDA increase from US$6.82bn to US$7.02bn.

Albert Manifold, chief executive of CRH, said "We are pleased to report another period of further profit growth and margin expansion for CRH. Reflecting the strength of our financial performance, the positive underlying momentum in our business as well as the positive contribution from recent portfolio activity, we are raising our guidance and remain well positioned to deliver another record year in 2024."

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."