Global Cement News

Kenya: On 16 September 2025, the Kenyan government directed the East African Portland Cement Company (EAPCC) to pursue a share buyback of a 29.2% stake owned by Switzerland’s Holcim, in what looks set to derail the sale of the shares to a Tanzanian tycoon.

The planned sale of the EAPCC shares to the Tanzanian investor Edhah Abdallah Munif had raised concerns in Parliament over the discounted cost of the deal, which had been set to take place at just half of the company’s stock price. Legislators have queried why shares in the asset-rich firm were being sold at a knock-down price.

Under the terms of the Tanzanian deal, Munif had been set to buy 26.32 million EAPCC shares from Holcim using an investment firm known as Kalahari Cement for a total of US$5.6m, which values the company at US$19.2m. Its share price on 17 September 2025 suggested a value of around US$38.5m.

To proceed with the share buyback, EAPCC must get approval from the Capital Markets Authority (CMA). The maximum share buyback price is 10% more than the average price over a month, while the minimum is the prevailing price on the Nairobi Stock Exchange.

Italy: Rising sales volumes and declining energy prices have combined to boost the financial results of Umbria-based Cementerie Aldo Barbetti in 2024. It closed with a slight year-on-year profit increase from €23.0m to €23.7m. Year-on-year revenues increased by 5.2% from €174m to €183m.

Philippines: Japan-based Sumitomo Osaka Cement has bought a 15% stake in Philcement, according to a stock exchange disclosure. The agreement, signed on 16 September 2025 between Philcement, its parent company Phinma Corporation, and Sumitomo Osaka, covers the issuance of primary shares. The transaction is expected to close before the end of 2025, subject to standard conditions.

Once the deal is complete, Phinma will remain as Philcement’s majority shareholder, with a 60% stake. Philcement has expanded significantly in the past few years, with a 2Mt/yr integrated plant in Davao del Norte due to be commissioned in 2026.

China: Cement production fell to 148Mt in August 2025, down by 6.2% year-on-year, according to data from the National Bureau of Statistics. From January to August 2025, production reached 1.105Bnt, representing a 5% decrease year-on-year compared to the same period in 2024.

In July 2025, production reached its lowest level since 2009, at 146Mt.  The drop was attributed to the ongoing real estate crisis, weak infrastructure activity and weather disruptions from heatwaves and storms. Producers are shrinking capacity to better align with demand.

India: Birla Corporation plans to raise its cement production capacity from 20Mt/yr to 27.6Mt/yr by 2028 – 2029 by building grinding units and clinker lines, according to The Pioneer newspaper. Chair Harsh Lodha told shareholders at the company’s annual general meeting that the expansion will require a capital expenditure of US$492m.