23 August 2022

Australia: Boral has posted a slump in its annual profit, which fell by a third year-on-year for the 12 months to 30 June 2022. It made a profit of US$73.7m, down from US$98m in the 12 months to 30 June 2021

The company said that the result had been impacted by rising energy and haulage costs, while severe rains in eastern Australia at the start of 2022 had forced temporary stoppages to numerous construction projects. The company withheld profit guidance in its announcement, saying only that it expected revenue to be higher in the 2023 fiscal year as a result of annual price increases and new freight charges for customers.

Mexico: A group of approximately 400 former workers of Cooperativa la Cruz Azul, who maintain possession of the Tula cement plant in Hidalgo, staged a demonstration on 22 August 2022 in front of the offices of the Federal Electricity Commission (CFE) demanding that power to the plant be reinstated.

Through a press release, the CFE said that it had met with some of the protesters. After negotiations, it concluded that the reconnection of the plant "will be made as soon as notification is received from the court or competent authority."

Local reports have suggested that the cut was ordered on 17 August 2022 by Víctor Manuel Velázquez Rangel, who heads the Board of Directors of the Cooperativa la Cruz Azul, the legal owner of the plant. The justification was that the plant has become dangerous to operate after two years of occupation by the protestors.

US: Summit Materials has announced that its cement plant in Hannibal, Missouri, has been converted to produce 100% Portland limestone cement (PLC). Since 4 August 2022, the plant has only produced PLC, which has embodied CO₂ emissions around 10% lower than ordinary Portland cement (OPC). The company said that the conversion marked an important step towards reaching its overall 2030 and 2050 decarbonisation targets, which were announced in April 2022.

The Hannibal plant is the company's second conversion to PLC in 2022. It earlier converted Continental Cement's Davenport plant to 100% PLC production in April 2022.

Peru: UNACEM reported a consolidated net profit of US$285m in the second quarter of 2022, a 25.8% year-on-year rise compared to the second quarter of 2022. The increase was explained by higher revenues, coupled to a drop in interest expenses. However, the quarter was characterised by a higher-than-expected cost of sales.

UNACEM's consolidated revenues for the quarter reached US$367.4m, up 19.8% year-on-year. This was due to higher cement sales volumes in Peru (+13.8%) and the US (+15.7%) and higher ready-mix concrete sales in the US (+34.0%) and Chile (+54.0%), as well as higher energy sales in Peru. This was complemented by higher sales prices in all markets.

Israel: Nesher Cement has been fined US$1.9m for violations of the Clean Air Law at its cement factory in Ramla. The fine was issued for repeatedly exceeding permitted emissions limits, including for mercury/mercury compounds and particulate matter. 22 violations have been recorded since July 2022.

“The recent fine issued against the Nesher Ramla cement plant is a very welcome step forward, but it’s far from enough,” said Knesset member Alon Tal, chairman of the Subcommittee on Environmental and Climate Impacts on Health. “Just a month ago the ministry issued a permit for seven years to the factory, notwithstanding its dubious record as a serial violator of Israel’s Clean Air Law. This makes absolutely no sense.”

Local activists living near the factory were also not satisfied with the value of the fine. “The Environmental Protection Ministry has confirmed that there’s an unusual rate of cancer, especially lung cancer, in Ramla and Lod,” said Benjamin Ruggill, leader of a citizen action group, to local press.