Displaying items by tag: Strategy

US: Titan America has successfully converted its cement operations to 100% Portland limestone cement (PLC) production. As part of its transition, the producer established two new 70,000t storage domes to serve its key markets.

President and CEO Bill Zarkalis said "I would like to thank all members of the Titan America team who are able and energised to provide the highest performing products to our customers, and do so with our 2030 goals for a sustainable future at top of mind. Our conversion to 100% Type IL PLC production and our expanded investments to deliver lower carbon products and solutions to customers showcase the progress we have made and our commitment to accelerate our contribution to addressing climate change."

Indonesia: Thyssenkrupp Polysius Indonesia has inaugurated its new offices in Jakarta's Tempo Scan Tower. The supplier said that the new headquarters will bring a stronger business focus to its decades-long presence in Indonesia by providing a broader scope of local service-driven solutions. Thyssenkrupp Polysius Indonesia country manager Ridwan Setiawan will head the new office.

Asia Pacific Regional head of cement Lukas Schoeneck said “With this new office, we are celebrating the return of the name and brand Polysius in one of the most important and energetic markets in the Asia Pacific region. We look forward to reshaping our focus in the cement industry and on building a sustainable future together with our clients, especially in transforming the cement industry with our #grey2green initiative."

Saudi Arabia: Yanbu Cement was among successful bidders in Saudi Arabia's largest carbon credit auction to date earlier in November 2022. The Saudi Public Investment Fund (PIF)’s Voluntary Carbon Market Initiative Auction sold 1.4Mt-worth of carbon credits to 15 different entities, of which Yanbu Cement was the only cement sector representative. The PIF said that the sale will support the country's Saudi Vision 2030 development goal, while also advancing its progress towards net zero CO₂ emissions by 2060.

Finland: Geoprime producer Betolar has named Riku Kytömäki as its new president and CEO. Riku's professional background is in materials technology, having served as president and CEO of Exel Composites and held senior positions in Switzerland-based ABB. Kytömäki holds board positions in several international companies and organisations, including polymers producer Teknikum Group. He has management experience in Asian markets where Betolar has expanded during the past few years.

Betolar said "Riku will lead Betolar through its next growth phase as its Geoprime solution is entering active production. Geoprime is a next-generation, low-carbon solution and sustainable alternative to cement: it delivers 80% fewer emissions and 100% cement-free building materials with the same performance as traditional concrete."

Thailand: Siam Cement Group (SCG) recorded revenues of US$11.8bn during the first nine months of 2022, up by 15% year-on-year from US$10.2bn in the corresponding period of 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 26% to US$1.37bn from US$1.86bn.

SCG recorded nine-month costs growth of 15%, to US$3.29bn from US$2.85bn. The Bangkok Post newspaper has reported that the group says that its monthly energy costs have risen by 50% since the outbreak of the Russia-Ukraine war. As such, it is currently focusing its investments on three ‘key’ business areas with smaller energy consumptions than cement. These are smart living, renewable energy and logistics.

SCG renewables subsidiary SCG Cleanergy aims to more than double its renewable power generation capacity to 500MW before 2026 and further increase it to 5GW before 2028. This will consist of wind farms and roof-mounted and floating solar power plants. Meanwhile, SCG Logistics Management secured approval to merge with JWD InfoLogistics on 26 October 2022.

Greece: Titan Group has set new CO₂ reduction targets by adding Scope 3 emissions. Titan Group had previously committed to a 21% Scope 1 emissions reduction and a 42% Scope 2 emissions reduction per tonne of cementitious material between 2020 and 2030. Titan Group reduced its total CO₂ emissions by 20% between 1990 and 2021, and by 5.5% year-on-year in the third quarter of 2022. Its latest targets are currently under review by the Science-Based Targets Initiative (SBTi).

Titan Group chair Marcel Cobuz said “The initiatives in our decarbonisation roadmap offer significant business growth opportunities. Our technology and sales teams across all our markets are focused on decarbonising our operations more quickly and offering our customers more and more sustainable and circular solutions.”

India: Ambuja Cements sold 6.7Mt of cement during the second quarter of its 2023 financial year, up by 12% year-on-year. Its standalone revenues were US$443m, up by 13% from second-quarter 2022 financial year levels. Cost growth outstripped sales at 32% year-on-year, resulting in earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$36.7m, down by 57% year-on-year.

CEO Ajay Kapur said "The cement industry has been facing significant margin pressure resulting from a steep rise in global energy prices. However, recent cooling off in energy prices and post-monsoon demand pickup appears to present a silver lining for the coming quarters."

Kapur said that Ambuja Cement's focus is currently on future capacity expansions, with the aim of becoming India's market leader.

India: Adani Group and Jaiprakash Associates are reportedly in 'advanced talks' over the latter becoming Adani Group's latest cement sector acquisition at a price of US$606m. Reuters News has reported that Jaiprakash Associates' board of directors approved the sale of the company on 10 October 2022. Adani Group plans to buy the business via one of its newly acquired cement subsidiaries.

Adani Group is also planning a US$7.9bn investment package in a Rajasthan cement plant expansion, solar power plant project and airport upgrade. The solar power plant has a planned capacity of 10GW. Adani Group owns the 1.8Mt/yr Rabriyawas cement plant and the 5Mt/yr Lakheri cement plant in Rajasthan. The group plans to raise US$10bn to fund its growth plans. Potential investors in 'early talks' with the group include Singaporean sovereign wealth fund Temasek Holdings.

Adani Group completed its acquisition of ACC and Ambuja Cements for US$10.5bn in September 2022.

Peru: Grupo Gloria subsidiary Yura says that it is contemplating a cement production capacity expansion. The producer says that process optimisation across its Arequipa and Southern Peruvian cement footprint might go some way towards achieving the envisioned growth. It added that any such projects would go hand in hand with a reform of its customer service practices. Yura is also evaluating possible new limestone mining projects at Pampas del Pongo and Zafranal, and an expansion of its lime production.

DF Sud News has reported that Yura expects to increase its Peruvian cement deliveries by 8 – 10% year-on-year in 2022. Its cement, concrete and lime director for Peru, Chile and Bolivia, Julio Cáceres, forecasts that Peru’s construction demand will continue to grow at twice the rate of gross domestic product. He acknowledged that the company’s 2023 results will likely reflect the country’s expected muted growth compared to 2022. Cáceres said that US$700m-worth of private investment across 30 residential projects in Arequipa is currently suspended, pending the publication of the city’s revised metropolitan development plan.

India: Adani Group plans to invest US$100bn in capital expenditure across all of its operations between 2022 and 2032. Mint News has reported that the conglomerate will establish 45GW-worth of new hybrid renewable power plants under the plans. It will also build three new green hydrogen plants, with a combined capacity of 3Mt/yr. It plans to support the latter move with an investment of US$70bn in the establishment of an integrated hydrogen-based value chain.