UK: Quinn Building Products has renewed its cement exclusivity contract for the British market with National Buying Group (NBG) until the end of 2024. NBG will sell the cement under Quinn Building Products’ new Mannok brand.

Great Britain regional sales and marketing director Lee Gillman said, “Today’s announcement is a very clear signal of our intentions going forward under the Mannok name. We will bring with us everything we do best, which means we will continue to offer quality products and service to our customers and demonstrate real commitment to the merchants who are key to our company’s success, through strong working partnerships with bodies such as NBG. We are delighted to make this commitment with NBG, who have played a key part in the increased sales of cement we have experienced since launching our extended cement range in 2018. It has been a fruitful partnership for all involved, and one which we are very happy to continue for a further three years.”

China: China Resources Cement’s nine-month profit for the period that ended on 30 September 2020 was US$954m, up by 28% from US$747m in the corresponding period of 2019. Reuters has reported that the company’s turnover was US$3.51bn, up by 1.7% from US$3.45bn.

India: HeidelbergCement India’s net profit in the six months to 30 September 2020 – the first half of its 2021 financial year – was US$15.1m, down by 19% year-on-year from US$18.6m in the first half of the 2020 financial year. Its revenues fell by 17% to US$125m from US$151m.

The company attributed the fall to the impacts of the on-going coronavirus outbreak. It said, “The company is taking all possible steps to mitigate the effects of Covid-19 on its business and operations. The management has also evaluated the possible impact of the pandemic on the business operation and, based on its assessment of the current indicators of the future economic conditions, it is expected that the carrying amount of assets will be recovered.”

Kenya: East Africa Portland Cement Company has defaulted on a long-term loan from KCB Bank. The bank has demanded immediate repayment of the full loan, according to the Business Day newspaper. The cement producer’s current liabilities grew by 70% year-on-year to US$126m in the financial year to June 2019. In a report made to parliament Auditor-General Nancy Gathungu said, “This movement was largely due to the transfer of long-term loans to current liabilities on account of default on existing loan covenants.”