26 September 2023

Ireland/US: CRH has completed the move of its primary listing to the New York Stock Exchange. The group will retain a standard listing on the London Stock Exchange.

It said it had made the transition because “We believe a US primary listing will bring increased commercial, operational and acquisition opportunities for our business, further accelerating our successful integrated solutions strategy and delivering even higher levels of profitability, returns and cash for our shareholders.” It added that the North America market represents around 75% of the group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) and that the US is expected to “be a key driver of future growth for CRH due to continued economic expansion, a growing population and significant construction needs.”

Albert Manifold, the chief executive officer of CRH, commented, “Today marks an important milestone in CRH’s development which will enable us to fully participate in the significant growth opportunities that lie ahead for our business”.

China: Taiwan Cement (TCC) commissioned a 107MWh energy storage project at its Yingde plant in Guangdong province in August 2023. Subsidiary NHOA Energy worked on the project that linked the battery storage capacity to a 42MW waste heat recovery (WHR) system and a 8MWp solar photovoltaic unit. It uses lithium iron phosphate batteries supplied by Ningde Times.

The company’s say that the project is one of the largest industrial microgrids in the world. It is intended to provide energy flexibility to the cement plant by using NHOA Energy’s proprietary energy management system to manage peaks in energy demand and acting as a backup for critical equipment to avoid damage caused by sudden blackouts.

The NHOA Energy storage project is expected to store about 46000MWh/yr of electricity and save just under US$3m/yr in electricity costs. The system will also support the Guangdong Provincial Government’s energy storage development policy and be eligible to associated subsidies of over US$350,000/yr.

Giuseppe Artizzu, the chief executive officer of NHOA Energy, said “NHOA Energy’s proprietary energy management system will optimise the generation and consumption profile of the industrial microgrid, while also supporting the regional grid towards its 100% green energy objective, taking the energy transition in the area one step forward in total accordance with NHOA Group’s and TCC’s shared mission of fostering a positive change for the future of our planet.”

France: Hoffmann Green Cement Technologies (HGCT) has signed a partnership deal with Point.P. Under the terms of the agreement, HGCT’s clinker-free cement products will be distributed to Point.P’s ready-mixed concrete (RMC) and batching plants. Point.P is aiming to reduce its CO₂ emissions linked to the use of cement it uses in ready-mix concrete, concrete blocks and precast elements, by 35% by 2030.

Julien Blanchard and David Hoffmann, co-founders of HGCT, said "We're delighted with this partnership with a major player like Point P. This is a major step forward for the marketing of our clinker-free low-carbon cements.”

France-based Saint-Gobain Building Distribution France, a subsidiary of the Saint-Gobain, is a distributor of building materials. Its main brands include Point.P, Cedeo, Asturienne, PUM, SFIC, La Plateforme du Bâtiment, Dispano, Panofrance, Clim+ and CDL Elec. It has a network of over 2000 sales outlets throughout France.

Bangladesh/India: The completion of an upgrade project to Chhatak Cement’s plant has been thrown into doubt due to uncertainty about securing limestone from India. The plant still needs to build a new 17km ropeway conveyor and this has been delayed due to failure to obtain permission on the Indian side of the border, according to the Daily Star newspaper. It is also facing problems procuring limestone in India due to on-going legal proceedings on environmental grounds between exporters in Meghalaya and the government. The Supreme Court of India granted permission for exports in 2022 but the case is still pending. In addition, plans to install a gas line from Sylhet to the plant has not started yet either.

The state-owned cement producer is run by the Bangladesh Chemical Industries Corporation (BCIC). It originally announced in 2016 that it was spending over US$100m to build a new 1500t/day dry production line at the plant to replace an old wet production line. Although the old line originally had a production capacity of 233,000t/yr, it had fallen to around half of this. However, despite the construction of new silos and other equipment at the site, the unit has not been operational since early 2020. The new line was originally planned to start operation in 2020 but this was delayed until 2023. The BCIC has now proposed that completion of the project be extended to mid-2025.

Togo: The Ministry of Commerce has denied that it has authorised a change in the price of cement. In a press release it confirmed that the ex-factory prices it set in late October 2021 remained in force, according to 24heureinfo. It reminded cement traders of this and provided a 24-hour telephone number for consumers to report any abnormal trading practices.

The ministry was responding to reports on social media channels about an increase to the price of cement. CimTogo said recently that it had adjusted its price structure in mid-September 2023 but not breached the price limits set by the government.