01 March 2022

US: The former Lehigh Hanson Redding cement plant is the subject of a new acquisition deal. Martin Marietta has now agreed to sell the plant, which is in California, and related cement terminals to CalPortland for US$250m. The deal also covers 14 ready-mix concrete locations. The parties have also established arrangements for any future agreement for the sale of Martin Marietta’s Tehachapi cement facility and its related cement distribution terminals. Martin Marietta acquired both plants from Lehigh Hanson in October 2021.

CalPortland’s parent company Taiheiyo Cement said that the acquisition will enable it to build a supply system to meet the growing demand for cement in northern California, Oregon and Nevada. It added that the Redding Plant is an important plant in northern California, which its expects can improve customer satisfaction through an investment to develop more efficient systems. The company concluded “As a result, we expect steady growth in revenue and profits for Taiheiyo Cement’s US cement and ready mixed concrete businesses, which in turn will contribute to the achievement of the medium-term management plan from fiscal years 2022 to 2024.”

Colombia: Grupo Gilinski has increased its stake in Grupo SURA by 7.7% to 32%. Grupo SURA controls a 36% stake in Grupo Argos, the parent company of Cementos Argos and US-based Argos USA. The deal awaits validation and agency approval.

Nigeria: Lafarge Africa, Holcim’s subsidiary in Nigeria and South Africa, says that it acheived record full-year results in 2021. Its net sales were US$705m, up by 27% year-on-year from US$554m in 2020. Meanwhile, its recurring earnings before interest, taxation, depreciation and amortisation (EBIT) rose by 43% to US$157m from US$110m.

CEO Khaled El Dokani said "Our 2021 performance showed significant improvement.” He added “We are equally pleased with the progress we are making on sustainability. Our use of affordable clean energy and agro-ecology footprint are in accordance with our net zero pledge journey."

In 2022, the company forecast ‘good demand momentum’ as it continues to maximise volume opportunities across its markets, while actively managing costs. During the year, it also plans to consolidate its sustainability efforts.

US: Denmark-based life sciences investment company Novo Holdings says that it has invested US$65m in bio-based clinker-free cement producer Biomason. Biomason uses microorganisms to grow its Biocement cement, without heating or CO₂ emissions. The producer is in its Series C round of financing. Novo Holdings previously invested in its Series B financing round.

Japan: Mitsubishi Heavy Industries Engineering has won the Ministry of Economy, Trade and Industry’s highest prize for contributions to industrial decarbonisation, the Minister’s Award, for its development and commercialisation of its CO₂ capture system. The system is based on KS-21 solvent technology, developed in partnership with Kansai Electric Power, and the company’s Advanced KM CDR Process capture model. Mitsubishi Heavy Industries Engineering has successfully supported cement industry customers in implementing the system.