Global Cement News

Paraguay: Industria Nacional del Cemento (INC) has reported sales of 79,800 bags/day of cement between 4 May 2020 and 8 May 2020. Demand had collapsed in April 2020 due to restrictions on construction resulting from the coronavirus outbreak. Esmerk Latin American News has reported that newly reopened distributors collected their orders and that a number of customers purchased more than their usual volume in anticipation of a further easing of lockdown. INC has placed an order for 40,000t of imported clinker to help production to meet demand.

Saudi Arabia: Saudi Cement has reported sales worth US$39.3m in the first quarter of 2020, up by 12% year-on-year from US$35.3m in the corresponding period of 2019. Sales grew by 15% year-on-year to US$120m from US$104m. The company attributed the increased profit margin to greater demand, which offset higher general, administrative, selling and distribution expenses.

Australia: Boral has announced a planned three-week shutdown of the kiln at its 1.5Mt/yr integrated Berrima plant in New South Wales. The Financial Review newspaper has reported that Boral chief executive officer (CEO) Mike Kane said, ‘Revenues are down by 6% year-on-year in Australia in the first four months of 2020.’ He added that Australian cement volumes in the same period fell by 16% year-on-year and that there are fewer new orders than at the same stage of 2019 as a result of the coronavirus outbreak.

US: Boral North America has fully or partly suspended operations at four plants and made more than 1700 of its 6900 employees redundant. The Financial Review newspaper has reported that Boral North America chief executive officer (CEO) David Mariner will resign at the end of May 2020.

Australia-based Boral predicted a 3 - 5% year-on-year decrease in net profit in the first half of 2020. Boral chief financial officer (CFO) Ros Ng said, “Boral had US$839m of cash and undrawn liquidity at the end of April 2020.” The group announced a reshuffle of its debt facilities on 15 May 2020.

Malaysia: Singapore-based Hong Leong Asia subsidiary HL Cement Malaysia has acquired an 88% stake in Tasek Corporation. Hong Leong Asia subsidiary Ridge Star has acquired the remaining 12% minority stake. MarketLine News has reported the total value of the deal as US$19.4m.