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Cementos Argos to invest US$128m in operations in 2024 04 March 2024
Colombia: Cementos Argos will benefit from US$128m in new investments in 2024. Reuters has reported that the investments will focus on enhancing operations and quality assurance. Parent company Grupo Argos plans to invest a total of US$509m in its subsidiaries throughout the year.
Australia: Belgium-based Etex has acquired BGC Fibre Cement and BGC Plasterboard from BGC. The assets include the Canning Vale fibre cement board plant in Western Australia. Both businesses reported total sales of US$101m in the 2023 financial year.
Etex CEO Bernard Delvaux said “We warmly welcome our 200 new teammates coming from BGC. Joining forces with their plasterboard and fibre cement activities is a strategic opportunity for Etex. With this, we take a top three position in the fibre cement market and are eager to start delivering quality fibre cement to new customers.”
Portland Cement Association to join with other industry associations against new particulates standard 04 March 2024
US: The Portland Cement Association (PCA)’s Environment and Energy Committee met in Tampa, Florida, to discuss the formation of a new coalition with other industry bodies under the leadership of the US Chamber of Commerce. The PCA said the coalition will take legal action against the US government, following the Environmental Protection Association (EPA)'s introduction of new, lower particulates emissions standards. The association says that the revised standards may lead to layoffs and lower cement and concrete production.
Other items on the agenda for the committee’s biannual meeting include permitting and regulatory reform for carbon capture, utilisation and storage and alternative fuels for cement production.
Eastern Province Cement and Sinoma CDI conclude Khursaniyah cement plant Line 5 contract 01 March 2024
Saudi Arabia: Eastern Province Cement Company has entered into a contract with China National Building Material subsidiary Sinoma CDI to build its Khursaniyah cement plant’s upcoming 10,000t/day Line 5. Mubasher News has reported the value of the contract as US$271m. The contract includes engineering, supply, construction, installation, testing, operation and training services on a complete turnkey basis.
CEO Fahd bin Rashid Al-Otaibi said “The project aims to replace some low-efficiency production lines, enhancing energy efficiency and the company's capacity to meet local demand. This initiative aligns with the kingdom's vision to maximise shareholder returns and support future infrastructure projects that improve quality of life.”
The company secured approval from its board to award the contract to Sinoma CDI in January 2024.
Spain: FCC’s sales rose by 17% year-on-year to €9.03bn in 2023. Meanwhile, the company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 17% to €1.53bn. The company reported a profit growth of 88% to €591m, following the stabilisation of its main business areas, particularly in cement. The cement business registered a 19% increase in turnover. The business includes Cementos Portland Valderrivas.