Displaying items by tag: Denmark

Denmark: FLSmidth has entered into a share purchase agreement with Nrep and AG Gruppen to sell its subsidiary Matr. No 2055 A/S, which owns the land and buildings at Vigerslev Allé 77 in Valby, Copenhagen. The company has been based at the Valby site since 1899, with the current buildings built in 1956. In 2022, FLSmidth announced plans to relocate its headquarters to a news site in Havneholmen, Copenhagen in late 2025.

FLSmidth expects net cash proceeds of approximately US$112m upon the closing of the transaction, scheduled for the end of the first quarter of 2026, subject to approval by the Danish Consumer and Competition Authority.

Denmark: Cementir Holding subsidiary Aalborg Portland Cement has awarded Christian Pfeiffer an engineering, procurement and construction (EPC) contract for the installation of a QDK-T 250-Z high-efficiency separator for Cement Mills 8 and 9 at its Rørdal plant. The equipment will integrate both mills into a shared separator system, in order to increase their total capacity and facilitate the production of new cements. The upgrade also includes the installation of a single replacement bucket elevator, two air slides with integrated flow impact meters and a bag filter system. Commissioning is scheduled for 2026.

Christian Pfeiffer’s Product Line Manager Cement, Juan Camilo Vanegas Aguirre, said “This was the first EPC offer jointly prepared by our team in Chennai, and reaching this agreement after two years of collaboration is a real achievement.”

Denmark: Air Liquide and Cementir Holding, via its Danish subsidiary Aalborg Portland, have signed the European Innovation Fund grant agreement for the ACCSION project at the Aalborg cement plant. The project aims to reduce the plant’s CO₂ emissions by 1.5Mt/yr, with the captured CO₂ transported via pipeline to onshore CO₂ storage facilities.

The value of the Innovation Fund grant is €220m, fully financed by the EU Emissions Trading System.

China/Denmark: Denmark-based FLSmidth Cement has signed a licensing agreement with Sinoma International Intelligent Technology (IIT) covering the production and sale of QCX lab equipment in China. Cyril Leung, Country Head China – FLSmdith, said “The deal effectively provides us a new sales channel and represents our continued commitment to enhancing our services in the world’s largest cement market.”

All QCX equipment that FLSmidth Cement supplies outside of China will continue to be made in Brno, Czech Republic. Development and delivery of QCX software will remain in Denmark. FLSmidth noted that the agreement has no impact on the ongoing divestment of FLSmidth Cement.
FLSmidth Cement’s QCX lab equipment supports sampling, preparation and analysis. Products in the range include the QCX/RoboLab laboratory automation system, analysers, sample preparation products, quality control systems and laboratory software.

Denmark: INEOS has announced the final investment decision to permanently store CO₂ from Danish emitters in the Nini oil field in the Danish North Sea. The company aims to begin operations by late 2025 or early 2026, creating the ‘EU’s first operational CO₂ storage facility intended to mitigate climate change.’

The project, Greensand Future, will start by storing 400,000t/yr of CO₂, with a potential to scale up to 8Mt/yr by 2030. CO₂ will be captured from Danish biomethane plants, liquified, transported to Esbjerg port and shipped to the Nini oil field for permanent storage. Investments will exceed US$150m to scale storage capacity.

Mads Gade, head of INEOS Energy Denmark, said “Last year we were the first in the world to succeed in developing a value chain for safe and efficient capture, transport and storage of CO₂ across national borders. Now we are proud to take the next step, building on the learnings from the pilot and aiming to deliver a fully operational commercial project by the end of 2025/early 2026.”

Kenya: East African Portland Cement (EAPC) has contracted a technical audit from Denmark-based FLSmidth Cement with a value of just under US$70m. EAPC’s acting managing director Mohamed Osman said the findings would guide a pending plant upgrade, to be funded by some of the proceeds from the land sale, according to the Star newspaper. It hopes to double capacity at the unit by the late 2020s without incurring debt. The cement producer is also considering its options to use alternative fuels such as macadamia husks and other agricultural biomass. The 10-week audit process is expected to end in early December 2024.

Osman said “We have tapped FLSmidth to undertake a comprehensive technical audit of the plant, which will assess how to maximise the capacity and inform the design and cost of a new one,'' Osman said. “The audit by FLSmidth will also look at the reserves of raw materials that it has and inform whether it needs to acquire more land that has adequate reserves.”

Denmark: Denmark's first CO₂ storage facility is now ready to store CO₂ in the North Sea, designed for large-scale CO₂ containment to combat climate change, according to a press release from project leaders INEOS Denmark. The Project Greensand initiative has completed its pilot phase, confirming permanent CO₂ storage in the Nini West reservoir, 1800m below the seabed.

Following the pilot phase's success, the launch of large-scale CO₂ storage is expected by late 2025 or early 2026, with ambitions to store up to 8Mt/yr by 2030. An investigation is also underway to determine the possibility of storing CO₂ underground on land in Denmark, with the company obtaining an exploration licence from the Minister for Climate, Energy and Utilities earlier in 2024 for an area of Jutland in the Gassum reservoir.

Country manager at INEOS Denmark and Commercial Director at INEOS Energy, Mads Gade said “We emphasised that Denmark has moved to the forefront of CCS in the world when we stored the first CO₂ in the North Sea. Now we are in the process of investigating how to take the next step, and here we stand on the shoulders of the invaluable experience from Project Greensand's pilot. We are keen to continue this momentum with an ambition that Greensand will be the first CO₂ storage facility in operation in the EU, and we are now awaiting the Danish authorities' approval of a permanent storage. This is an important step, because if Denmark takes just 5% of a future CCS market in Europe, it could mean up to 9000 jobs, with an economic potential of US$7.4bn. At the same time, we can support the EU's objectives, because we have all the prerequisites to create a new industry that is part of the solution to the challenges of the climate.”

Denmark: FLSmidth has reported a 23% decline in group revenue for the second quarter of 2024. Despite the decline, gross profit rose by 5% to US$233m from US$221m in the same period in 2023. The cement division experienced a revenue decrease of 32%, though it achieved an adjusted earnings before interest, tax and amortisation (EBITA) margin of 9.6%.

Group CEO Mikko Keto said "Our performance in the first half of 2024 is testament to our continued strong progression across all our key transformation activities, with additional improvements in profitability. The largely stable cement market continues to provide good opportunities for our service business. Looking ahead, the resilience of our service-oriented business model, our continued focus on business simplification to ensure a cost-efficient operating model and our dedicated focus on strategy execution gives us great confidence that we are well on track to meet our long-term financial ambitions."

India: Gebr. Pfeiffer India has appointed Sridhar Shanmugha Sundaram as Senior Vice President, Head of Sales & Marketing.

Sundaram previously worked for FLSmidth for over 30 years. He started in the early 1990s as an Engineer – Plant Engineering and later became Manager - Cement Project Sales in India in the mid-2000s. Amongst other roles he was the Head of Project Sales in India in the mid-2010s and his last position with FLSmidth was as Vice President, Head of Global Product Line - Grinding and Gears from early 2023. Sundaram holds an undergraduate degree in Engineering from the College of Engineering Guindy in Chennai and an Executive Masters of Business Administration from Copenhagen Business School in Denmark.

Denmark: Aalborg Portland, a Danish cement firm, has completed testing for its second carbon capture pilot plant and will now undergo further trials in Romania and Greece, according to M-Brain News. This plant is a key component of the EU-subsidised ConsenCUS project.

A spokesperson for Aalborg Portland said "This experience offers preliminary knowledge ahead of establishing a full-scale CO₂ capture facility, and we are also contributing to the progression of this area where we, within the ConsenCUS collaboration, have verified the existence of multiple potential technologies for CO₂ capture."