Displaying items by tag: GCW194
Canada: Following a mediation session, McInnis Cement, the Centre québécois du droit de l'environnement (CQDE), the Conseil régional de l'environnement Gaspésie-Îles-de-la-Madeleine (CREGIM) and Nature Québec have agreed to the creation of an Environmental Committee to monitor McInnis Cement's plant in Gaspé, Quebec. The first meeting will be held as soon as possible. The mediation also led to specific commitments regarding greenhouse gases (GHG), emissions and impacts on marine mammals and aquatic fauna.
The mediation process resulted from the agreement with McInnis when the CQDE withdrew from the proceedings filed in August 2014 against the Environment Minister, in which McInnis Cement was a party. The role of the committee is to monitor environmental matters and issue recommendations. In addition to monitoring GHG emissions and emissions listed in the NESHAP 2015 US standards and monitoring the Fisheries and Oceans Canada (DFO) protocol on impacts on marine mammals and aquatic fauna, the committee will also address impacts on the physical environment, vegetation and wetlands, natural habitats and biodiversity, landscape, as well as any other environmental issue agreed to by the committee.
The committee will meet at least four times a year and report on its activities to the plant's Citizen Liaison Committee. An independent facilitator will ensure the efficient functioning of the committee. The parties appointed Richard Loiselle, a former director of the École des pêches et de l'aquaculture du Québec as facilitator. In the event of a disagreement, the Honourable Jacques Blanchard was appointed as an independent mediator.
The Environmental Committee will be comprised of eight members; two citizens from the plant's impact zone (one of which is a member of the cement plant's Citizen Liaison Committee), a representative of the CREGIM, a representative of Nature Québec, a representative of the Centre d'initiation, de recherche et d'aide au développement durable (CIRADD), a representative of the ZIP Baie-des-Chaleurs committee, a representative of the Conseil de l'eau Gaspésie-Sud and a representative of McInnis Cement. A professional from the Ministry of Sustainable Development, Environment and the Fight against Climate Change (MSDEFCC) will also be invited to attend meetings.
Following the mediation process, McInnis Cement reiterated its commitment to use biomass to substitute a significant portion of its fuel requirements. It committed US$470,957 over the next three years towards feasibility or technical studies and projects to reduce GHG. McInnis Cement also confirmed its commitment to use selective non-catalytic reduction (SNCR) technology to reduce emissions from the plant and comply with NESHAP standards. As for the impacts on aquatic fauna, the committee will follow-up on the commitments agreed to in the protocol signed with DFO.
PPC AfriSam merger cancelled
31 March 2015South Africa: PPC and AfriSam have called off a merger of two of South Africa's largest cement producers after failing to agree on the price.
The possibility that regulators may have blocked the proposed deal due to competition concerns was also discussed during the three months of talks, as the two companies would have controlled about 60% of the South African market. PPC spokeswoman Azola Lowan declined to comment on the reasons for the deal collapse.
PPC received an offer in December 2014 to combine with AfriSam and jointly expand into new African markets. "Over the last few months, we applied our minds extensively to the proposed merger with AfriSam," said PPC CEO Darryll Castle, who was appointed in December 2014. "Ultimately we decided not to proceed with the proposed deal."
Tourah Cement to invest US$39.4m in alternative fuels
31 March 2015Egypt: Tourah Cement plans to invest US$39.4m to convert its plant to alternative fuels to recover production ability and profitability. Tourah did not make a profit in 2014.
Holcim sells Siam City Cement stake for US$681m
30 March 2015Thailand: Holcim has sold its stake in Siam City Cement (SCC) for US$681m. The sale of its 27.5% stake in the Thai company will result in a pre-tax gain of roughly US$378m. The sum was booked in the first quarter. Jardine Matheson Group, a Hong Kong conglomerate, bought 24.9% of SCC from Holcim, while institutional investors purchased 2.6%. Holcim had held a stake in SCC since 1998 and began selling off its investment in 2012. It said that the sale wasn't related to its pending US$44bn union with Lafarge.
India: Trinetra Cement Ltd's shareholders have approved the amalgamation of Trinetra Cement, Trishul Concrete Products Ltd and India Cements. The plan was first announced in 2014. "The company wants to consolidate cement operations and the merger of Trinetra Cement Ltd and Trishul Concrete Products with India Cements will bring operations under one company," said N Srinivasan, vice chairman and managing director of India Cements.
Senegal/Cameroon: Dangote Cement's new plants in Senegal and Cameroon have commenced operations. Dangote Cement plants in Ethiopia and Zambia are expected to start production in April 2015.
The new Senegalese plant in Pout has a total production capacity of 1.5Mt/yr. With the new plant, Dangote Cement hopes to meet local demand and serve the export market demand of 2Mt/yr.
Country head of Dangote Industries Senegal, Luk Haelterman, disclosed that the group has invested about US$300m in the cement plant. He added that production and sales started on 10 January 2015. "Senegal is a market with overcapacity of cement, because it had two cement plants already. Dangote has become the biggest and best because we produce only 42.5R grade cement, which is better than 32.5R grade cement product there," said Haelterman.
Dangote results take a dive in 2014
27 March 2015Nigeria: Dangote Cement's pretax profit fell by 3.2% to US$928m in 2014 due to a gas shortage at its plants and low demand after prolonged wet weather. The company, Africa's biggest cement company, said that sales volumes in its main Nigerian market fell by 3.2% to 12.87Mt, weaker than the decline in the overall market of 0.8% to 21Mt. It expected market growth in Nigeria to be muted in 2015 owing to election and currency worries, worsened by the fall in government revenues that have triggered by the plunge in world oil prices.
Dangote's full-year revenues for 2014 climbed to US$1.97bn during the 12 months to 31 December 2014, up from US$1.97bn in 2013, due to growth from Dangote's other African operations. It said that unreliable gas supplies to its Obajana plant constrained production, while prolonged rainfall in the second half of last year led to a slowdown in construction. Dangote is increasingly turning its attention from Nigeria to elsewhere in Africa. In 2015 it expects to commission new cement plants in Cameroon, Zambia, Ethiopia and Tanzania.
Cementos Argos records ‘historic results’ in 2014
26 March 2015Colombia/US: Cementos Argos recorded 'historic' results in terms of both income and earnings before interest, tax, depreciation and amortisation (EBITDA) in 2014. Income grew to US$2.9m, a year-on-year rise of 17%, while EBITDA hit US$534m, a rise of 8%. The company reported record cement sales of 12.5Mt. Its net profit went up by 59%.
The company's improved performance can, in large part, be attributed to Cementos Argos' enlarged footprint in the United States, where it increased cement production capacity by 107% year-on-year in 2014. The company is now the second-largest cement produer in the southeastern US and the country's second-largest concrete producer. Its strong performance is expected to continue, with the Portland Cement Association (PCA) anticipating year-on-year cement consumption growth of 12% in 2015.
"We see the next decade as the period in which Cementos Argos will see even greater rewards from the largest investments ever made by a Colombian company in the United States, which, jointly, reached a value of more than US$2.2bn," said Jorge Mario Velásquez, CEO of Cementos Argos. "These investments were consistent with our coherent strategy that was carried out with a great degree of discipline and at an opportune moment by taking advantage of a favourable exchange rate."
The company has also consolidated its presence in Central America and the Caribbean, after acquiring new assets in French Guiana for Euro50m and successfully integrating its operations in Honduras. As this is a region that receives a lot of remittances with currencies that are mostly tied to the US Dollar and the drop in oil prices further favours its economies, the countries in the region will also benefit from the upward trend of the North American economy.
Additionally, in Colombia, the company kept its leading position in a dynamic market driven by housing and infrastructure construction. Cementos Argos is participating in more than 70% of the infrastructure projects being carried out within the country and in 60% percent of the free homes programme being implemented by its national government.
ARM Cement’s 2014 pre-tax profit flat
26 March 2015Kenya: ARM Cement posted a pre-tax profit of US$22m for 2014, up by 1% from 2013. ARM's revenue fell by 3% year-on-year to US$150m, mainly because there was no additional capacity expansion during the year.
ARM Cement has predicted that 2015 will be better, with growth in turnover and profit.
"The cement markets continue to grow at double digits with significant demand from the infrastructure segment," said ARM in a statement. Booming economies in east Africa have buoyed cement demand in recent years, but local firms are preparing for increased competition from new entrants like Nigeria's Dangote Cement.