Global Cement News

Egypt: Sinai Cement’s consolidated net loss before minority interests was US$35.6m in 2020. The figure represents an increase of 26% year-on-year from US$28.3m in 2019, according to Mubasher.

Egypt: South Valley Cement’s full-year sales in 2020 were US$22.3m, down by 20% year-on-year from US$28.0m. Loss also fell by 20%, to US$16.0m from US$20.1m in the 2020 financial year, according to Mubasher.

US: Holcim Participations, part of Switzerland-based LafargeHolcim, has completed its acquisition of Firestone Building Products from Bridgestone. The group said that the acquisition marks a milestone in its transformation into a global innovative and sustainable building materials and solutions leader. It group said that the early conclusion of the deal came about due to ‘smooth collaboration’ with Bridgestone.

Chief executive officer Jan Jenisch welcomed Firestone Building Products’ 1900 employees to the group, saying “Together, we will lead this iconic company’s next era of growth to become the global leader in flat roofing systems. As we expand its leadership in the US to Europe and Latin America, I want the world to know that Nobody Covers You Better than Firestone.” He added, “I am excited about the strong growth prospects, accelerated by the many opportunities from President Biden’s ‘Build Back Better’ plan. With its leading roofing systems, Firestone Building Products makes us a partner of choice from rooftop to foundation. This truly is a milestone for LafargeHolcim as we become the global leader in innovative and sustainable building solutions.”

Pakistan/India: Pakistan has resumed trade with India following a hiatus since August 2019. The News International has reported that during the last full year of trading in 2018 Pakistan exported US$63m of cement and US$19m of gypsum to India.

Cuba: Citizens have begun buying stolen cement from government construction sites due to a shortage that has caused a price rise on the cement market. The Havana Times has reported that many people are unable to repair their housing due to the high prices. Government and military projects reportedly continue unaffected.