Global Cement News

France: Imerys has signed an agreement to buy a 60% stake of Haznedar Group, a Turkey-based monolithic refractories and refractory bricks producer for the cement, steel, iron and petrochemical markets. The acquisition is expected to conclude in the fourth quarter of 2020 subject to approval by competition authorities. No value for the deal has been released.

The acquisition will add basic and acidic refractory bricks to Imerys’ product range and extend its industrial footprint with a production base in Turkey. It is also expected to strengthen its position within the Turkish market. The business will be consolidated in Imerys’ High Temperature Solutions business area, part of its High Temperature Materials & Solutions segment.

Uzbekistan: South Korea-based Caris is considering build a cement plant in the Beruni region of Karakalpakstan. This follows the completion of geological studies in conjunction with the local government, according to the Dunyo News Agency. Caris is now working on a feasibility study for the project before arranging finance.

Philippines: Eagle Cement recorded a net profit of US$26.5m in the first half of 2020, down by 61% year-on-year from US$68.0m. Sales also fell, by 44% to US$120m from US$214m.

Chief executive officer (CEO) Paul Ang said, “These are very difficult times but we remain confident that the economy will recover from this pandemic and emerge stronger. The government’s steady push for the completion of major infrastructure projects and the private sector’s readiness to bounce back offer encouraging signs for our company’s prospects moving forward.” He added, “More aggressive strategies in pricing and marketing will be undertaken in the remaining half of the year.”

Argentina: Loma Negra’s first-half net profit declined by 68% year-on-year in 2020 to US$14.2m from US$44.4m in the 2019. Sales fell by 30% to US$215m from US$306m. The company said that business was “impacted by the increasing complexities of the Covid-19 pandemic,” but that a strong recovery in bagged cement sales beginning in May 2020 was an indicator of general growth to come in the second half of the year.

India: Shree Cement recorded a profit of US$49.6m between 1 April 2020 and 30 June 2020, up by 2.1% year-on-year from US$48.6m in the corresponding quarter of the previous financial year. Sales fell by 23% to US$311m from US$406m due to the impacts of the coronavirus lockdown, which ended during the quarter, on cement demand.