Global Cement News

Pakistan: Fecto Cement recorded sales of US$30.4m during the 2022 financial year, up by 37% year-on-year from US$22.3m during the 2021 financial year. Throughout the year, the producer's cement volumes fell by 1.9% to 713,000t from 729,000t, while its exports fell by 51% to 26,600t from 54,700t. Its cost of sales increased by 32% year-on-year to US$26.5m from US$20.1m, but this failed to offset sales growth, resulting in a US$1.29m profit for the company, compared to a US$309,000 loss in the 2021 financial year.

Denmark: Switzerland-based Holcim has made an investment in 3D concrete printer supplier COBOD International. Holcim hopes that the investment will help it to further expand its TectorPrint 3D printing ink range. Holcim and COBOD International's collaboration dates to 2019, since which time the partners have 3D printed windmill tower bases in Denmark, a school in Malawi and a housing development in Kenya.

Holcim's head of global research and development Edelio Bermejo said “At Holcim, we are continuously expanding our range of building solutions to build better with less, working to improve living standards for all in a sustainable way. 3D concrete printing will help us meet these goals."

Nigeria: The House of Assembly of the Nigerian parliament has ordered Dangote Cement to suspend its operations at the Obajana cement plant until the company presents 'credible evidence' of its acquisition of the plant from the government. The Premium Times newspaper has reported that the state and Dangote Cement concluded a deal for transfer of ownership of the plant in 2002. Kogi State Commissioner Kingsley Fanwo says that Dangote Cement has failed to show evidence of its payment for the asset.

Local people petitioned the state for an enquiry into the plant's legal status after it allegedly created industrial pollution 'bordering on' a hazard. Protestors have reportedly 'driven out' staff from the plant.

Pakistan: Power Cement's sales rose by 23% year-on-year to US$78.3m in its 2022 financial year, from US$63.6m in its 2021 financial year. Nonetheless, it recorded a comprehensive loss of US$2.06m, compared to an income of US$1.58m in the 2021 financial year. The company's cost of sales rose by 35% to US$67.2m from US$49.8m.

Pakistan: Thatta Cement recorded net sales of US$19.1m during its 2022 financial year, up by 75% year-on-year from US$10.9m in its 2021 financial year. This included gross export sales of just US$3160, down by 99% from US$394,000 in the 2021 financial year. Thatta Cement's total cost of sales increased by 96% to US$18.1m from US$9.24m. Its raw material costs tripled to US$1.64m from US$546,000, while its fuel and power costs more than doubled to US$12.5m from US$5.89m. As a result, the producer recorded a profit for the year of US$387,000, down by 68% year-on-year from US$1.19m.

Chair Khawaja Muhammad Salman Younis said "The company showed better performance during the year, despite the tough market conditions, coupled with significant challenges and uncertainties due to political instability and the Russian-Ukraine war. Due to these factors, Pakistan’s economy remained under pressure throughout the year. Other economic factors such as the rise in energy prices in local and international markets, significant currency depreciation and a sudden hike in interest rates severely affected the industry's, as well as the company’s, performance." Noting the 'changing and challenging economic environment,' Younis said that Thatta Cement 'remained successful in achieving budgetary targets in terms of volumes and retention price.' He added "Our sales and marketing team put extra efforts into identifying the needs of our valued customers and explored new markets for the company, despite severe competition in the cement industry."