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France: Fives Group has partnered with Holcim to decarbonise its cement production processes. Fives conducted successful hydrogen tests at the La Malle site in France, achieving over 50% hydrogen substitution in cement production. This result also enabled a significant increase in the use of alternative fuels while still maintaining cement quality. The group has also developed a digital model to tailor this process to each cement plant's unique requirements.
India: UltraTech has installed floating solar photovoltaic panels at its Awarpur Cement Works plant on two water reservoirs, spanning 3600m2. The reservoirs contain 7600 panels in total, which will generate 6173MWh/yr of solar energy. This initiative will reduce CO2 emissions by 6000Mt/yr, equivalent to the sequestration benefits of 270,000 trees. The project enables UltraTech to use 100% of the generated power. Additionally, it will reduce water evaporation by up to 70% and has a minimal impact on local ecosystems.
Portugal: Taiwan Cement Corporation has purchased the remaining 60% stake of Cimpor Portugal from the Turkish group OYAK, giving it 100% ownership of the company. This acquisition, valued at €480m, also includes taking over a majority stake in Türkiye, making Taiwan Cement Corporation the ‘third largest player’ in the global cement market, according to the company. The deal strengthens the group’s presence in Portugal, Cape Verde, Ivory Coast, Cameroon and Ghana, aligning with its global expansion and sustainability-focused investments in renewable energy and technology.
Cimpor's chairman Suat Çalbiyik said "This operation represents a very important step in the company's growth and makes it a world reference in cement production."
Iraq/Jordan: Saudi Arabia-based Northern Region Cement has agreed to sell its 50% stake in Jordan-based Cement Experts for Development and Investment to UAE-based AMP Global Trading. In a statement to Tadawul, the producer said that the deal is valued at US$55m. Cement Experts for Development and Investment owns 51% of the joint investment in the Al-Kubaisa cement plant in Iraq.
Breedon Group reveals 2023 financial results 07 March 2024
UK: Breedon Group recorded a 7% year-on-year increase in revenue of €1.73bn in 2023. Earnings before interest and taxation (EBIT) were €171m, down by 2%.
CEO Rob Wood said “The record results we delivered in 2023 are a real accomplishment and something I am extremely proud of. The challenging trading conditions our team faced required agile and bold responses which they took with discipline and determination.”