Global Cement News

Japan: Sumitomo Osaka Cement’s operating revenue grew by 7.5% year-on-year to US$657m for the half of its 2023 fiscal year, covering the six-month period to 30 September 2022, compared to US$612m in the same period in its 2022 fiscal year. However, rising costs led to the company reporting an operating loss of US$41.9m compared to an operating profit of US$35.6m previously. Its pretax loss was US$37.7m compared to a pretax profit of US$47.9m. Sumitomo Osaka Cement recorded an overall net loss of US$20m, compared to a net profit of US$41.5m in the first half of the 2022 financial year.

The company expects to record net revenues of US$1.42bn across the entire 2023 fiscal year, with a net loss of US$4.1m. This indicates that it has forecast performance to improve significantly over the next six months.

Saudi Arabia: China-based Sinoma has signed a contract with Yamama Cement for the construction of a new 10,000t/day clinker production line at its new plant site. The announcement of the engineering, procurement and construction (EPC) contract at the Arab-International Cement Conference in Amman, Jordan, came shortly after the news that Sinoma had been contracted to dismantle, move and rebuild one of Yamama Cement’s existing cement production lines in a strategic move between the producer’s old and new plant sites.

India: India Cements Limited has posted a loss of US$16.9m during the quarter that ended on 30 September 2022 on account of increases in fuel and coal costs. The manufacturer had earlier reported a profit of US$9.3m in the three months to 30 June 2022. India Cements’ vice chair and managing director, N Srinivasan, “It was a difficult quarter because the coal price increase was quite sharp.”

Argentina: Loma Negra, part of Brazil-based InterCement, recorded net sales of US$236m in the third quarter of 2022, a 4.2% year-on-year rise compared to the third quarter of 2021. The group attributed the increase to improved cement sales, complemented by improved concrete and aggregates sales.

Loma Negra’s consolidated adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 12.7% to US$47.0m. However, it still made a net loss of US$76.6m, mainly due to the cancellation of debt in foreign currencies with local funding.

Sergio Faifman, Loma Negra's chief executive officer, noted, “The industry (exhibits) a positive trend, showing a high level of activity and heading to a record year. In fact, the third quarter was the best in history in terms of cement shipments for the industry and for Loma Negra. Our production capacity and our extensive nationwide distribution network allow us to keep up with the growing demand, underpinning our status as leaders in the industry.”

US: Roanoke Cement, part of Titan America, has held a ground-breaking ceremony for an expansion at its Chesapeake Terminal near Norfolk in Virginia. Council members, other state and local officials and Roanoke Cement team members gathered to launch the project, to build a new US$40m storage dome. In response to increasing demand for low carbon cement, the storage dome at the terminal will provide an additional 70,000t of capacity, tripling the site’s existing storage volume. The Chesapeake Terminal will see expanded truck and rail capacity as well, and the improved terminal will enable the import and distribution of other raw materials needed to produce concrete.

"This important capital improvement is another investment in anticipation of increased construction material demand for infrastructure development and other projects," said Kevin Baird, president of Titan America's Mid-Atlantic Business Unit, which includes Roanoke Cement. "Expanded storage and marine terminal upgrades permit us to make low carbon cement available for construction needs all over the region."

The company expects the expanded facility to be completed by the end of 2023, in time for the region’s 2024 construction season.