September 2024
Argentina: Holcim Argentina, part of Switzerland-based LafargeHolcim, has completed a US$120m upgrade at its integrated Malagueño cement plant in Córdoba province. In a meeting with the Minister of Productive Development, Matías Kulfas, the cement producer said it was planning in inaugurate a newly refurbished 0.51Mt/yr production line at the site later in May 2021. The work also included adding a vertical roller mill and new bagging area with a capacity of 120,000bags/day. The project was originally announced in late 2017 and Germany-based KHD was awarded a related contract in early 2018.
Cemex España reopens Lloseta cement plant 04 May 2021
Spain: Cemex España reopened its Lloseta cement plant in Majorca in mid-April 2021. The unit will start by operating at a low production level until demand levels build, according to the El País newspaper. The plant intends to use alternative fuels such as biomass to reduce its CO2 emissions. It is also working with the Power to Green Hydrogen Mallorca project to use ‘green’ hydrogen created partly using solar energy. The plant now employs 20 people, compared to 96 before its closure in January 2019.
Solidia Technologies raises US$78.0m in funding 04 May 2021
US: Solidia Technologies has raised US$78.0m-worth of private investment in a funding round. The latest investors include Imperative Ventures, Zero Carbon Partners and Breakthrough Energy Investors. Existing backers providing new funds include BP, John Doerr and OGCI Climate Investments, which is the venture capital arm of the Oil and Gas Climate Initiative, a consortium of multinational oil companies. Solidia Technologies produces reduced-CO2 concrete with lower-energy cement and water-free CO2 curing.
Australia: Adbri says that it expects growth in domestic cement demand to continue beyond a present residential construction boom. The Australian Financial Review newspaper has reported that Adbri chief executive Nick Miller believes that house building has undergone a nationwide ‘pull-forward’ in the wake of the coronavirus outbreak. The producer says that the government’s planned US$116bn infrastructure spend would insure a medium-term increase in cement demand. It gave as an example the Western Sydney Aerotropolis, which will require 500,000m3 of concrete. The company currently derives 45% of sales from non-residential construction.
Switzerland: The shareholders of LafargeHolcim Ltd have voted in favour of changing the group name to Holcim Ltd at the company’s annual general meeting held on 4 May 2021. The name change applies only to the group company name with all market brands remaining in existence. The new group name will become effective upon entry in the commercial register. LafargeHolcim was officially formed in July 2015 when France-based Lafarge and Switzerland-based Holcim merged.
Cemex bounces back strongly in first quarter of 2021 30 April 2021
Mexico: Cemex has reported that its sales in the first quarter of 2021 came to US$3.41bn, a 9% rise year-on-year compared to the first quarter of 2020. Its earnings before interest, tax, depreciation and amortisation (EBITDA) improved by 28% to US$684m due to a boost in cement sales volumes and higher prices. Its net income for the first quarter was US$665m.
Cemex’s net sales in Mexico increased by 19% to US$822m, while operating cash flow increased 27% to US$299m. Its US operations reported net sales of US$1.0bn, an increase of 5% compared to the same period in 2020. Its operating cash flow in the US increased by 21% to US$196m.
In the group’s Europe, Middle East, Africa and Asia region, sales grew by 2% reaching US$1.09bn, while EBITDA was US$113m, 3% higher year-on-year. In Central, South America and the Caribbean, Cemex’s net sales came to US$424m, an increase of 15% compared to the same period in 2020.
Commenting on the results, Cemex’s chief executive officer Fernando González Olivieri said, "We achieved some important objectives and made significant progress towards our Operation Resilience goals, despite the persistent challenges that Covid has caused in many markets. The performance during the first quarter convinces me that we must be entering a period of sustainable growth for our main markets and it is likely that we will achieve two of our Operation Resilience goals well in advance of the 2023.
India: Ambuja Cement, part of LafargeHolcim, reported a 71% jump year-on-year in its consolidated net profit to US$127.9m during the first quarter of 2021, compared to a profit of US$74.8m in the same period of 2020. Managing Director Neeraj Akhoury said, "Indian demand growth has been strong in the last quarter, which has also helped the sales volume growth and commercial performance.”
Akhoury added that, despite strong and continuing headwinds with regards to input prices, including coal, petcoke and diesel, the company had made significant progress on efficiency improvement, which had a positive impact on cost evolution.
Lucky Cement sees nine month profit leap by 303% 30 April 2021
Pakistan: Lucky Cement has reported a 303% increase year-on-year in its unconsolidated profit after tax (PAT) in the first nine months of the 2021 Pakistan fiscal year, a reporting period that ran from 1 July 2020 to 31 March 2021. Its PAT for the period was US$72.6m, compared to just US$18.9m in the same period of the prior fiscal year. Lucky Cement’s net sales for the nine month period came to US$306m compared to US$208m a year earlier. Its net sales for the January-March 2021 quarter increased to US$111m form US$71.6m in the same period of 2020.
Republic Cement expects strong growth in the Philippines 30 April 2021
Philippines: Republic Cement has said that it expects the cement sector in the Philippines to grow strongly in 2021 following a 10% decline in demand in 2020. Speaking to local press, the company’s president and chief executive officer Nabil Francis said that the drop in demand in 2020 was actually less severe than the expected 15%. He added, “We strongly believe that we will get back to 2019 level in 2021. That means 12% growth compared to 2020.” Francis added that the industry is expected to sell 35Mt of cement during 2021. The main driver is the bagged cement segment, with infrastructure and the non-residential, likely to grow less rapidly.
Francis additionally said that he welcomed the Department of Trade and Industry’s investigation into alleged dumping of cement into the Philippines from Vietnam. He said that the imported cement is sold at very low prices, its production having been subsidised by the Vietnamese government. He said the influx of imported cement has injured the local industry.
CSN ‘expected’ LafargeHolcim sale in Brazil 30 April 2021
Brazil: CSN’s Cement Director Edvaldo Rabelo has said his company is ‘attentive to opportunities’ in a call with analysts that discussed LafargeHolcim’s rumoured exit from the Brazilian cement market, according to Reuters. Rabelo said that the move had been expected, while CSN’s chief executive officer Benjamin Steinbruch reportedly added that the company was interested in ‘potential merger and acquisition activity’ in its cement business.