Displaying items by tag: GCW606

US: ASTM International’s concrete and concrete aggregates committee (C09) is developing a proposed standard specification for a broad range of supplementary cementitious materials (SCM). Larry Sutter, an ASTM International member and the principal engineer at Sutter Engineering, commented that this performance specification (WK70466) will ease the adoption of new materials used for SCMs as established sources become less available.

Sutter said “For a variety of reasons, historic sources of SCMs, like coal fly ash from electric power generation, are in short supply and new materials are emerging.” He added, “These new materials do not fall under existing specifications, leading to the need for new specifications. Rather than writing a new specification for every emerging material, we are writing a performance specification that can be used to cover the full range of them.”

Sutter noted that concrete made with SCMs can be less costly, more durable and more sustainable than ordinary Portland cement. New specifications will allow these new materials into more construction projects. This effort relates to the United Nations Sustainable Development Goal #7 on clean and affordable energy.

North Korea: The Sunchon cement plant near Pyongyang is celebrating the 50th anniversary of its founding. President Kim Il Sung visited the site in May 1973 before construction started, according to the Korean Central News Agency. Cement from the plant has been used to build the West Sea Barrage, Kwangbok Street, Ryomyong Street, the Paektusan Hero Youth Power Station and additional ‘monumental edifices.’ Other the years of its operations workers at the site have been awarded the Order of Kim Il Sung and Order of Kim Jong Il, the title of Labour Hero, the title of Merited Calcinations Worker and other forms of recognition.

India: UltraTech Cement reported revenues of US$7.48bn in the 2023 financial year, up by 21% year-on-year from US$6.18bn in the 2022 financial year. The cement producer's total expenses rose by 29% to US$6.27bn. This contributed to an 8% decline in the company's earnings before interest, taxation, depreciation and amortisation (EBITDA) to US$1.3bn from US$1.41bn.

Nigeria: Dangote Cement recorded sales of US$609m during the first quarter of 2023, down by 13% year-on-year from US$699m during the first quarter of 2022. The producer reported a 25% decline in its cement sales volumes to 3.6Mt from 4.8Mt. Operating costs rose by 6% to US$355m from US$335m. Dangote Cement said that its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 14% to US$458m from US$403m.

Dangote Cement chief executive officer Arvind Pathak said “The cash crunch coupled with the uncertainty around the general elections led to a slowdown in key private and public infrastructure investments in Nigeria. Consequently, our domestic operations recorded a drop in volume." Pathak continued “In fulfilling our commitment to creating additional value for our shareholders, we have received regulatory approval for our second buyback programme. We will continue to monitor the evolving business environment and market conditions in making decisions on tranches."

Pakistan: Thatta Cement recorded a 33% year-on-year rise in its sales during the first nine months of the 2023 financial year. It attributed the growth to a rise in cement prices. During the period, the company sold 320,000t of cement, down by 11% from 360,000t. It produced 324,000t of cement, down by 10% from 358,000t, and 309,000t of clinker, up by 18% from 262,000t. Throughout the reporting period, Thatta Cement recorded a clinker capacity utilisation of 62%, up from 53% in the corresponding period in the 2022 financial year.

India: Adani Group has reportedly prepaid US$200m-worth of a US$1bn mezzanine loan for its acquisition of Holcim's Indian business in mid-2022. The loan will be due for repayment in September 2024. Bloomberg has reported that the conglomerate hopes that the part prepayment will help it to secure a three-year extension to repayment.

Chile: Knauf Aquapanel has commissioned its new 7Mm²/yr Puente Alto cement board plant in Santiago. The company invested US$17m in the construction of the plant. The facility will supply its cement boards to the local market, as well as for export to Argentina, Brazil, Colombia, Ecuador, Honduras, Panama, Paraguay, Peru and Uruguay.

US: Heidelberg Materials says that the first clinker has been produced on the new production line at its integrated Mitchell cement plant in Indiana. Construction work on the project started in 2019 and the majority of the work is now completed. The US$600m upgrade is expected to increase the production capacity at the unit to over 2.4Mt/yr. It will also create 50 new full-time jobs at the site, bringing the total to 170.

Chris Ward, president and chief executive officer of Heidelberg Materials North America, said “We are extremely pleased to have the new Mitchell kiln online and producing clinker.” He added “With the capabilities of the new facility, we will be able to supply our customers more efficiently, consistently and sustainably than ever before.”

US: Taiheiyo Cement says that its subsidiary CalPortland has terminated its deal to buy the Tehachapi cement plant from Martin Marietta Materials. It has blamed the situation on the two parties being unable to “timely obtain the necessary approval by the US Federal Trade Commission.” The deal was originally announced in August 2022 with CalPortland agreeing to buy the integrated plant in California and two terminals.

India: ACC has blamed a drop in earnings in the fourth quarter of its financial year on higher fuel prices. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 15% year-on-year to US$71.9m in the quarter that ended in March 2023 from US$64.7m in the same period in 2022. However, it said that fuel prices were expected to drop due to synergies with other subsidiaries within Adani Group. It is also working on reducing operational costs by reducing its clinker factor, logistics costs and growing sales of blended cement products. It added that it had reduced its kiln fuel cost by 10% in the fourth quarter by taking the measures mentioned above and by increasing its use of alternative fuels.

The company changed its financial year to one ending in March 2023 during the reporting period. Its calculated net revenue rose by 10% year-on-year to US$2.16bn for its 2023 financial year that ended on 31 March 2023 compared to US$1.97bn in the previous 12 months. Its cement and clinker sale volumes grew by 6% to 31Mt from 29Mt.

Ajay Kapur, the chief executive officer of ACC, said “Our transformation journey fuelled by sizeable operational efficiencies, improved synergies and business excellence has led to substantial improvement in our financial performance and overall business indicators. We have a detailed blueprint on each of the cost factors and initiatives to reduce and improve.”