Displaying items by tag: GCW42
EPA proposal to cost Montana plants US$10m
26 March 2012US: A proposed clean-up of Montana's air pollution by the Environmental Protection Agency (EPA) could cost nearby cement plants up to US$10m. Plans to improve visibility in public land, including Yellowstone and Theodore Roosevelt National Parks, would require upgrades within five years at the Ash Grove cement plant near Montana City and Holcim cement plant near Three Forks.
The EPA's action has been prompted partly by a legal challenge from environmentalists who sued the agency to set deadlines to follow through on haze rules adopted in 1999. Two of the groups involved, WildEarth Guardians and the Montana Environmental Information Center, said that the agency's proposal does not go far enough. Representatives of the groups criticised the EPA's rejection of even stricter pollution limits that would have required tens of millions of dollars in additional spending by the plants.
"People might gasp a little bit and say that's a lot of money but you have to look at how much these companies are profiting off these facilities. It dwarfs these costs," said Anne Hedges with the Montana Environmental Information Center.
The first phase of the EPA's program is aimed at plants built between 1962 and 1977 that churn out at least 250t/yr of pollutants. The goal is to eliminate haze in parks and wilderness areas by 2064. The cost of reducing haze across the US has been estimated at US$1.5bn/yr. Spin-off benefits from reduced health care spending on pollution-related illnesses were estimated at US$8.4bn/yr or more.
The proposal could become final after a 60-day public comment period. Public hearings in Montana hosted by the EPA are scheduled for 15 May 2012 in Helena and 16 May 2012 in Billings.
FCC debt shuffling delays US asset sale
23 March 2012Spain/US: The head of Fomento de Construcciones y Contratas SA (FCC), Baldomero Falcones Jaquotot, has said that a planned sale of US-based Giant Cement Holding Inc. has been delayed while the Spanish construction giant deals with the debt refinancing of Cementos Portland Valderrivas (CPV). FCC owns nearly 70% of CPV, which in turn owns Giant. FCC had previously planned to sell Giant by the end of the first quarter of 2012. Falcones added there has been one bidder for the US cement unit. FCC spokesman Jose Manuel Velasco Guardado said CPV is keeping, 'all options open for Giant.'
FCC is currently focusing on CPV's efforts to renegotiate Euro1.5bn in gross debt. Around 46% of the debt is due to be repaid in 2012 and 48% is due in 2013. Portland is also crafting a new business plan that may include plant closures in Spain. Falcones said that CPV was in 'a good situation' as it discusses a new debt repayment timeline with its banks, while looking to 'increase its cash situation.'
With Spain's economy in poor shape, FCC is trying to increase the portion of its revenues originating from overseas to more than 65% in three years time from 52% in 2011. Falcones said FCC might be inclined to make overseas acquisitions sooner than later in order to take advantage of the Euro's relative strength and is also eyeing growth opportunities in Latin America, Asia, the Middle East and central and eastern Europe.
In Spain, FCC is owed more than Euro2bn from local and regional governments for past services rendered. Falcones said that he expects most of it to be paid in May and June 2012 after the central government set up a new credit line to help cash-strapped regions and municipalities to pay off their debts.
The Spanish government is benefiting from much improved financing conditions after local banks tapped the European Central Bank's Long-Term Refinancing Operations to purchase government debt.Falcones is confident that the full amount will be paid. "If I get Euro1.5-2.0bn, I will be very happy," he said. "It doesn't mean we won't get the rest. That will take more time."
New Brazilian cement deal for FLSmidth
22 March 2012Brazil: Denmark's FLSmidth has announced that it has been awarded a contract worth US$83m by Margem Companhia de Mineração (a subsidiary of Supremo Cimentos) for delivery of equipment and services at its new cement production line in Brazil. The plant will be located in Adrianópolis, in Paraná, approximately 130km north of Curitiba. The order will contribute beneficially to FLSmidth's earnings until 2014.
The scope of supply includes all major process equipment including an EV crusher, a stacker/reclaimer, ATOX mills for both raw and fuel grinding, an ILC 5-stage preheater, a ROTAX-2 kiln, an FLSmidth Cross-Bar cooler and an OK Mill for cement grinding. Furthermore, air pollution control systems, a packing plant, as well as automation and control equipment are included. FLSmidth MAAG Gear and FLSmidth Pfister will also contribute to the project.
The project will feature the latest technology to ensure the production process is both environmentally-friendly and energy-efficient. "The continuously growing demand for infrastructure in Latin America makes it an interesting market for FLSmidth," said Group CEO Jørgen Huno Rasmussen. "Our capability of delivering full scope systems, as underlined by this order, reinforces FLSmidth's strong position and our ability to tap into the important Latin American market."