21 February 2024

US: Vulcan Materials raised its sales by 6.4% year-on-year in 2023, from US$7.32bn to US$7.78bn. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 24% to US$2bn, while its profit grew by 25% to US$1.95bn. Vulcan Materials’ full-year concrete volumes dropped, during which time it also divested some concrete operations. Altogether, the producer plans to invest US$625 – 675m in maintenance and growth projects in 2024.

Chair and CEO Tom Hill said "We carry momentum into 2024, and our focus is the same - compounding unit margins through all parts of the cycle and creating value for our shareholders through improving returns on capital."

UK: The Global Cement and Concrete Association (GCCA) has launched the 3rd Innovandi Open Challenge 2024, with a focus on the deployment of carbon capture, use and storage (CCUS) for the decarbonisation of cement and concrete. Possible fields of study include process-integrated and end-of-pipe capture. The 1st Innovandi Open Challenge 2024 previously focused on CCUS, and has now produced two projects at pilot stage.

Cement, innovation and environmental, social and governance (ESG) director Claude Loréa said "Our industry is committed to achieving net zero and the development of carbon capture technology is a key part of that work. Our world-leading Innovandi Open Challenge programme has already seen remarkable progress in just two years, with start-ups and our member companies working together. We're looking forward to seeing what this year's applicants can bring, to build on the extensive work that is already underway across the world."

India: Germany-based ThyssenKrupp has agreed to sell its 55% stake in ThyssenKrupp Industries India to local joint venture partners. VCCircle News has reported that the move is part of on-going strategic cost-saving measures. The supplier expects to complete the sale in mid-late 2024. As a result, its total global employees will drop by over 2300. Protos Engineering and Paharpur Cooling Towers will reportedly acquire the stake. The companies hold existing stakes of 16% and 11% respectively.

Czech Republic: The Czech Cement Association (SVC ČR) says that it is “firmly” committed to decarbonise the cement industry and has agreed a clear roadmap explaining how to reach net zero by 2050. It added that it was also backing the strategy outlined in the European Commission’s (EC) industrial deal. In a statement the association said, “The position of SVC ČR regarding the proposal of the decarbonising targets by 2040 is that the Czech government has to prepare in cooperation with the individual industries a deep analysis of the opportunities and the risks arising from the new proposal and prepare a long-term strategy to support the competitiveness of Czech energy-intensive industries.”

SVC ČR distanced itself from comments published in ČTK Business News reporting that a group of energy-intensive industry associations in the country had challenged the EC's proposal to aim to reduce CO₂ emissions by 90% by 2040. The associations argue that the target will harm the competitiveness of Czech industries. They say that it is based on unrealistic assumptions and overlooks the absence of necessary conditions for major investment in the EU’s green industry transformation.

This story was updated on 29 February 2024 with comments from SVC ČR

France: Calderys Group says that it has successfully implemented technology sharing between US-based HWI and Calderys, following their integration in February 2023. In the past 12 months, the group has transferred select Calderys products to HWI in the Americas and introduced HWI products in Europe, the Middle East and Africa and Asia-Pacific. The refractories supplier says that the collaboration offers customers an enhanced product range.

Calderys Group president and CEO Michel Cornelissen said "The past 12 months have been exciting, demanding and very productive for our newly-formed group. The combination brought together two dynamic businesses with complimentary product ranges and created the opportunity for technology sharing and cooperation for the benefit of the world's high temperature manufacturing sectors. I am delighted that we are already seeing great results. Throughout 2024, we will continue to add to, and update, our product portfolios.”

India: Ambuja Cements is planning to build a 4Mt/yr cement grinding plant at Motia Village, Godda District in Jharkhand. The project has a budget of US$120m. The proposed plant will use fly ash supplied from the nearby Andani Power Godda thermal power plant.

Ajay Kapur, CEO – Cement Business at Adani Group, said “We believe that Jharkhand holds immense potential in terms of resources, infrastructure and skilled manpower, making it an ideal location for this project.”

Ambuja Cements operates two cement plant in Jharkhand with a combined production capacity of 6Mt/yr.

Nigeria: The Federal Government has warned cement producers that it is considering allowing cement imports into the country in response to high local prices. Arc Ahmed Dangiwa, the Minister of Housing and Urban Development, made the comment at an emergency meeting held with cement and building materials manufacturers in Abuja following a doubling of the price of bags of cement, according to the Vanguard newspaper. Manufacturers have blamed the price rises on the increasing cost of gas, the cost of mining equipment, negative currency exchange rate effects and the poor state of the country’s roads. However, Dangiwa noted that many of the raw materials they use - including limestone, clay, silica sand and gypsum - are sourced locally.

The government is preparing to set up a committee - comprising representatives of each cement company, the Cement Manufactures of Nigeria Association and the relevant ministries, to find ways of tackling the high price of cement.

UK: Aggregate Industries is preparing to build a new cement storage unit for deep sea shipping lines at the Port of Southampton. As part of a 20-year agreement, Aggregate Industries will be working with port owner Associated British Ports and industry-leading cargo handler Solent Stevedores, which will operate the new cement import unit. The site is intended to help the business maintain a continuous supply of lower CO₂ cementitious products in the south and south west of England.

Matt Owen, Head of Supply Chain at Aggregate Industries Cement Division said “This is a significant project for us. It constitutes the first stage in a wider programme of planned investments over the short to medium term in deep sea imports designed to enable us to serve growing demand.” He continued, “The southern construction market remains buoyant with lots of major projects in the pipeline this year and beyond. Constituting one of the few deep-sea vessel facilities of its kind in the region, this facility will enable us to remain primed and ready to meet our customers rising demand for lower carbon solutions.”