
Displaying items by tag: Switzerland
Holcim does not expect impact from US tariffs
04 February 2025US: Holcim’s CEO Miljan Gutovic says he does not expect any effects of proposed US tariffs upon his company. "I don't really see any impact, because our business is a local business (in the US)," said Gutovic in an interview with Reuters. "We are producing locally, we are sourcing the equipment, the spare parts locally, so how is this going to affect us? I do not see it." He added that the proposed tariffs were also unlikely to pose any problems to the group’s planned spin-off of its business in the US. The listing of its North America-based business is remains scheduled for the first half of 2025.
The US government proposed tariffs upon imported goods from Canada and Mexico in early February 2025 but these have been paused for one month. Tariffs on China are set to start on 4 February 2025. US President Donald Trump has also spoken about implementing tariffs on the EU.
Swiss cement deliveries fell in 2024
14 January 2025Switzerland: Cement deliveries declined by 4.6% year-on-year to 3.6Mt in 2024, impacted by slow economic recovery, uncertainty and high energy prices, according to industry association Cemsuisse.
However, the fourth quarter of 2024 showed a 2.1% year-on-year increase in deliveries to 0.89Mt, reportedly driven by declining inflation and low interest rates, with Cemsuisse stating that it is ‘cautiously optimistic’ about 2025. The proportion of cement types with reduced clinker content rose to almost 97% from just under 96% in 2023. The proportion of cement transported by rail fell slightly to 37.4% from 37.6% in 2023.
Holcim appoints Board and CEO for North American business
10 January 2025Switzerland/US: Holcim is progressing towards the planned listing of its North American business and has designated its future board members. The board will comprise 10 members and will become effective following the execution of the spin-off, expected in the first half of 2025, subject to shareholder and customary approvals.
Jan Jenisch, current chair of Holcim and its former CEO from 2017 to 2024, has been designated chair and CEO of the new business. Jenisch will remain Holcim’s chair until the Annual General Meeting on 14 May 2025.
The Board will include nine independent directors: Theresa Drew, Nicholas Gangestad, Dwight Gibson, Holli Ladhani, Michael McKelvy, Jürg Oleas, Robert Rivkin, Katja Roth Pellanda, and Cristina Wilbur.
Dost Wardak appointed as head of Holcim Trading & Shipping
08 January 2025Switzerland: Holcim Trading & Shipping has appointed Dost Wardak as its CEO. He succeeds Céline Coimbra in the role.
Wardak started working for Holcim Trading & Shipping in 2021 as Head of Region EMEA. Prior to this he worked for LafargeHolcim’s trading subsidiary as a trading manager from 2015. He also worked as a Business Intelligence Manager for Cementia Trading in the early 2010s. Earlier in his career held analyst positions with Lafarge.
US/Switzerland: Holcim has made progress on the capital market separation of its North American business, planning a 100% spin-off to be listed on the New York Stock Exchange. An additional listing on the SIX Swiss Exchange is planned for European investors. The spin-off is subject to shareholder approval at the Holcim Annual General Meeting on 14 May 2025 and expects to occur by the end of the first half of 2025, subject to customary approvals.
ABB launches white paper on decarbonisation for the cement sector
12 November 2024Switzerland: ABB has launched a white paper outlining the challenges the global cement industry must tackle to decarbonise operations in line with global emissions reduction targets and the role technology will play in this.
The white paper is supported by industry associations and, in it, ABB details a technology roadmap for potential solutions to achieve net-zero targets. It combines insights from a range of key industry players - including customers, technology partners, industry media and associations - along with ABB’s commercial specialisation. It details the benefits of advanced electrification used in tandem with technologies adopted through industry collaborations. The white paper also includes discussions around how sustainable cement could be defined, as well as practical advice as to what steps producers can immediately take in their decarbonisation journey. Electrification is identified as a major component in the decarbonisation of the cement industry, with the ability to replace fossil fuel burners with electrified, or zero-carbon, solutions. These are predicted to help significantly reduce emissions in line with industry ambitions.
ABB sells products in the electrification and automation sectors. Its Process Automation business automates, electrifies and digitalises industrial operations that address a wide range of essential needs. Its products are marketed to help customers in process, hybrid and maritime industries improve performance and safety of operations.
The full white paper can be accessed online here: https://new.abb.com/cement/campaigns/cementing-a-sustainable-future
Holcim publishes third quarter financial results
25 October 2024Switzerland: Holcim has published its financial results, with a recurring operating profit of €1.6bn for the third quarter ending September 2024. The company reported a fall in sales for the period by 3% to €6.84bn from €7.03bn in 2023, and a nine-month sales figure of €19.1bn. Holcim has also made several new acquisitions, with six companies bought during the quarter, making a total of 17 so far in 2024. Holcim's North American market, its second largest, showed ‘strong market fundamentals’, according to the company, with ongoing work on 150 infrastructure projects. The company’s cement business reported revenues of €9.9bn in the first nine months of 2024.
Switzerland/US: Holcim may list its upcoming market-separated North American business both in the US and Switzerland, Bloomberg has reported. The possibility arose due to Swiss and European restrictions on foreign shareholdings for locally-based funds, which may result in sales of Holcim stocks, with negative price impacts. On the other hand, a dual listing could potentially reduce the liquidity of any future US-listed shares.
SeeNews has reported that Holcim North America will be headquartered in Zug, Switzerland, for tax ‘advantages,’ while operating out of Chicago, US.
Switzerland: After an initial increase earlier in 2024, the Swiss cement industry experienced a decline from July - September 2024 with deliveries falling by 8% year-on-year to 914,625t, according to AWP Swiss News. In its latest report, Cemsuisse attributes this decline to a continued reluctance to invest in construction. Despite this, the organisation notes potential signs of recovery, particularly in infrastructure projects.
ABB to collaborate with Carbon Re on cement decarbonisation
03 October 2024Switzerland: ABB has entered into a memorandum of understanding with UK-based climate tech company Carbon Re, to explore integrated solutions aimed at accelerating the decarbonisation of cement production while improving productivity. The collaboration will reportedly combine ABB's expertise in automation and process control with Carbon Re's AI and machine learning technologies. The partnership follows a successful pilot at a cement plant in the Czech Republic, where ABB plans to augment its ‘Ability Expert Optimizer’ solution with Carbon Re's AI platform. This integration is expected to automate and optimise plant conditions, potentially reducing specific energy consumption by up to 5% and increasing alternative fuel use by 50% by maintaining optimal kiln conditions.
CEO at Carbon Re, Josh Vernon, said “At Carbon Re we are accelerating industrial decarbonisation through the use of cutting-edge AI – our models have demonstrated that AI can find efficiencies within the complex chemical processes of material production, especially cement.”
Global portfolio manager for Business Line Digital, ABB Process Industries, Tyron Vardy said “Driving down the emissions of cement production is a pressing priority for the industry. Our collaboration with Carbon Re will bring us closer to achieving this. Enhanced by cloud-based AI technology, our decision support software will be able to help customers enhance and improve the efficiency of their systems faster than ever before.”