Displaying items by tag: GCW648
Heidelberg Materials may follow other groups with US listing
26 February 2024Germany/US: Heidelberg Materials CEO Dominik von Achten spoke during the producer’s 2023 results presentation about ‘various scenarios’ to maximise the benefits of its high valuation in the US. Börsen-Zeitung News has reported that the company is considering a possible listing in the US. Alternative scenarios include the launch of an initial public offering (IPO) there.
Holcim España's Viver quarries expansion approved
26 February 2024Spain: Holcim España’s Viver quarries have received an Environmental Impact Declaration (EID) to expand from 13.5 to 37.5 hectares. This expansion will enable the company to extract 300,000t/yr of limestone to supply its Sagunto cement plant. The EID will allow the company to continue to operate the quarry until 2054.
Australia: Adbri has concluded a new interim arrangement with Independent Cement and Lime (ICL), extending ICL’s existing exclusive cement distribution contract from 1 March – 30 June 2024. ICL is a joint venture of Adbri and Barro Group.
Boral completes maintenance at Berrima plant
26 February 2024Australia: Boral's Berrima cement plant team has successfully concluded its annual kiln shutdown and maintenance period. The producer invested US$13.1m and 100,000 working hours over a period of three weeks. The project required coordination with 50 different contracting companies to undertake mechanical repairs and replace the kiln refractory, which is crucial for protecting the kiln shell from heat damage and ensuring operational safety. Employing Cement 4.0 technology and advanced diagnostic tools, the team efficiently identified the necessary repairs. About 300 employees and contractors were engaged in the specialist tasks, facilitating a rapid resumption of kiln operations.
Saint-Gobain may acquire CSR for US$5.44bn
23 February 2024Australia: France-based Saint-Gobain has submitted a non-binding indicative offer of US$5.44bn for building materials producer and land banking entity CSR. CSR’s businesses include insulation producer Bradford, fibre cement systems producer Cemintel, wallboard producer Gyprock, autoclaved aerated concrete (AAC) block producer Hebel and roofing producer Monier. Together, CSR’s building materials units accounted for 72% of its sales in 2023.
India: Shree Cement has begun construction of two new 3.5Mt/yr cement plants at Etah and Prayagraj in Uttar Pradesh. The Hindustan Times newspaper has reported that the projects represent the company’s delivery on a memorandum of understanding (MoU) with the Uttar Pradesh government, that it signed in February 2023. The producer aims to reach 9Mt/yr in installed capacity in Uttar Pradesh by February 2026, with estimated investments of US$241m. It currently operates a 2Mt/yr integrated cement plant at Bulandshahr.
The company said "The company’s 3.5Mt/yr plant in Etah is expected to be operational in the next 12 months, while another 3.5Mt/yr plant will be set up in Prayagraj, targeting production commencement in 24 months."
Brazil: Companhia Siderúrgica Nacional (CSN), Huaxin Cement and Votorantim Cimentos have all bid for InterCement’s Brazilian business, Valor Online News has reported. The source stated that Votorantim Cimentos is leading a consortium alongside Italy-based Buzzi and concrete producer Polimix Concreto, however the Brazilian cement market leader denied this, stating that its offer is ‘individual and independent.’ Both Votorantim Cimentos and CSN Cimentos are reportedly considering making initial public offerings (IPOs).
Votorantim Cimentos said “The company clarifies that it is not part of nor leads any consortium within the auction process. To date, its offer remains under evaluation by the respective seller and, therefore, no documents have been signed with any counterparty that generate an obligation or firm commitment for the acquisition of the assets that were the subject of the offer.”
UltraTech Cement commissions expanded Kotputli cement plant
23 February 2024India: UltraTech Cement has commissioned 1.8Mt/yr of new cement capacity at its Kotputli cement plant in Rajasthan. The expanded plant will help the producer to serve markets in Rajasthan and the National Capital Region. Projects Today News has reported that the expansion is part of a 22.6Mt/yr capacity growth drive, first announced in June 2022. The latest commissioning has raised UltraTech Cement’s all-India capacity by 1.3% to 137Mt/yr, and that in Rajasthan by 11% to 18.9Mt/yr.
Saudi Arabia: Sinoma Overseas Development completed start-up testing and hand-over of new grinding mills at Arabian Cement Company’s Rabigh cement on 21 February 2024. The supplier said that the delivery was in accordance with the terms of the original contract between its parent company, China National Building Material (CNBM), and the producer.
Sinoma Overseas Development attributed deviations from the project’s previously announced schedule to the need for discussions with CNBM about remaining project works, equipment operation plans, procurement schedules and acceptance tests. As provided for in the contract, the work will be subject to a 5% delay penalty.
Heidelberg Materials grows sales in 2023
22 February 2024Germany: Heidelberg Materials reported sales growth of 0.4% in 2023, to €21.2bn. The group saw its profits grow by 21%, from €1.72bn to €2.09bn. During the year, the company reduced its specific CO2 emissions per tonne of cementitious material by 3% from 551kg to 534kg and lowered its clinker factor from 72% to 70%.
Chair Dominik von Achten said "In the 150th year of our company's history, we have once again shown that we can deal with change and crises. I am extremely proud of our teams around the world, who have remained firmly focused on our targets and have once again done an extraordinary job." He added "We are entering 2024 with optimism. Although the general economic conditions in the construction sector remain challenging, we anticipate growth in revenue and earnings also in the current year. Our shareholders are benefitting from this growth thanks to the progressive dividend and the new, comprehensive share buyback programme.”