Displaying items by tag: agreement
Ambuja Cements’ open offer for increased Sanghi Industries stake to commence on 29 September 2023
23 August 2023India: Ambuja Cements’ open offer to acquire an additional 26% stake in Sanghi Industries will run from 29 September 2023 to 13 October 2023. Press Trust of India News has reported the value of shares under the offer as up to US$767m. Ambuja Cements concluded a deal to acquire a 57% stake in Sanghi Industries, for the smaller sum of US$603m, on 3 August 2023.
US: Heidelberg Materials North America has reached an agreement with the administration of Santa Clara County to decommission its quarry in the county, near Cupertino. Silicon Valley News has reported that the quarry historically supplied limestone for cement production at Permanente cement plant, which came offline in April 2020. The county administration says that the deal signals that it has achieved its aim to ensure final closure of the Permanente plant.
Heidelberg Materials North America spokesperson Jeff Sieg said that the company is ‘pleased to formalise our agreement not to restart the kiln at our Permanente cement plant.’ He continued "We remain focused on working collaboratively with the community and other stakeholders on the development of a long-term strategy for the property, so that it can continue to provide value in the future.”
India: Local press has reported that a 'leading Indian conglomerate' may have concluded a deal to enter the cement industry in the union territory of Jammu and Kashmir. The Kashmir Monitor newspaper has reported the value of the deal as US$30.4m.
At present, the Jammu and Kashmiri cement sector is comprised of state-owned J&K Cements and five private companies. J&K Cements previously ceased production at its 400,000t/yr Khrew cement plant in Pulwama amid 'financial difficulties.' It has since sought a buyer for its business.
Bosnia & Herzegovina: Hungary-based Talentis Group and Austria-based Asamer Baustoffe have signed a letter of intent giving the former exclusive negotiation rights in the sale of Lukavac Cement. The subsidiary of Asamer Baustoffe operates the 650,000t/yr integrated Lukavac cement plant in Tuzla Canton. It also controls the nearby Vijenac limestone mine.
Talentis Group already holds foreign assets in Croatia and Romania.
Mexico: The National Cement Chamber (CANACEM) has established a collaboration agreement with the State Congress of Jalisco. Under the agreement, the parties will collaborate towards the reduction of CO2 emissions from the cement sector in the state. Local press has reported that the collaboration will include studies, projects, proposals and legal initiatives.
The state government said that the cement sector drives economic development and supports 20,000 jobs through its vital part in the construction industry.
RHI Magnesita invests in MCi Carbon on decarbonisation deal
15 February 2023Austria: RHI Magnesita has invested in Australia-based MCi Carbon as part of a long-term strategic cooperation agreement to research and develop technologies to decarbonise the production of refractories. MCi Carbon sells a mineral carbonation process that creates a range of low-carbon embodied materials, including calcium and magnesium carbonate by carbonating minerals in by-products of industrial processes. RHI Magnesita intends to use this process to reduce its Scope 1 emissions from mineral processing during its refractory production process.
Stefan Borgas, the chief executive officer of RHI Magnesita, said "This partnership could become a breakthrough towards decarbonising the industry. It fits seamlessly with RHI Magnesita's ambitious sustainability strategy." He added "We still have a long way to go but our early-stage investment and the clear intention of a long-term collaboration make this day so memorable. Together with the like-minded team from MCi we will pave the way for a greener industry."
So far, both companies have worked together on CO2 mitigation studies, mineral carbonisation feedstock assessments and techno-economic analyses at RHI Magnesita's sites around the world. In a next step, the companies' joint efforts will focus on industrial scale-up, expected to start in 2024 with the set-up of a demonstration plant by MCi at Newcastle in Australia, supported by the Australian government.
India: The India Cements will pay each of its 500 cement plant workers an additional US$736/yr, effective retroactively from the start of the 2023 Indian financial year on 1 April 2022. This will subsequently rise by up to another US$736/yr from the start of the 2026 financial year. The Hindu BusinessLine News has reported that the move is the result of talks with workers' unions. The India Cements additionally agreed to pay a total US$202,000/yr in premiums on medical insurance policies for all cement plant employees.
The India Cements operates 10 cement facilities in India.
Lafarge Algeria signs agreement with National Centre for Cleaner Production Technologies
28 December 2022Algeria: The National Centre for Cleaner Production Technologies (CNTPP) has signed a cooperation agreement with Lafarge Algeria. The arrangement is intended to provide government assistance towards producing cement more sustainably at the manufacturer’s plants, according to Le Quotidien d'Oran newspaper. The CNTPP is an organisation setup by the Ministry of Environment to support industrial and commercial companies.
Pampa Energía to supply renewable energy to Holcim Argentina
07 December 2022Argentina: Pampa Energía has signed an agreement with Holcim Argentina to supply it with wind power to its four cement plants. The supply will provide 25% of the cement producer’s electrical energy requirements, according to Grupo La Provincia. Previously Holcim Argentina signed a deal with YPF Luz to supply wind power to its plants in 2019. The current arrangement is expected to bring the company portion of renewable electrical energy to 65% or 220GWh. The electricity from the latest deal with Pampa Energía will be generated at the Pampa Energía III Wind Farm located in the Coronel Rosales district of Buenos Aires Province.
Cemex Dominicana partners with Nestlé Dominicana for alternative fuel co-processing
06 December 2022Dominican Republic: Cemex Dominicana has announced the signing of a new sustainability agreement with food producer Nestlé Dominicana. Under the agreement, Cemex Dominicana will co-process Nestlé Dominicana's non-recyclable high-calorific solid industrial waste as alternative fuel (AF) in its cement plant.
Cemex's Dominican Republic, Puerto Rico and Haiti regional director José Antonio Cabrera said "This agreement with Nestlé allows us to continue promoting our Future in Action strategy by operating our cement plant with AF." He concluded "We are committed to becoming a net-zero CO2 company."