Global Cement Newsletter

Issue: GCW765 / 24 June 2026

Headlines


There have been a couple of big news stories this week involving major multinational cement companies making large acquisitions. Holcim completed its purchase of Xella and CRH announced that it had agreed to buy Arcosa. These deals aren’t directly about cement but let’s look a little deeper into what’s been happening.

Holcim revealed in October 2025 that it would acquire Xella for €1.85bn. The transaction was completed on Friday 19 June 2026 following approval by the European Commission (EC). The main point the commission noted about the proposed translation was that its investigation found that Holcim and Xella were leading suppliers of AAC blocks in Romania, “...with a strong market presence and well-established brands.” Subsequently, Holcim offered to divest its AAC blocks plant in Adjud, Romania.

Holcim’s pitch for the deal in the autumn of 2025 was that the deal supports Holcim’s Building Solutions product line. Xella manufactures lightweight building materials such as walling products, autoclaved aerated concrete (AAC) and calcium silicate blocks including brands such as Ytong, Silka, Hebel and Multipor. The group’s ambition is to reach a 50:50 sales split between Building Materials and Building Solutions products by 2030. In 2025 it was roughly two-thirds for Building Materials and one-third for Building Solutions. Incidentally, this is a little ahead of Amrize’s share for its Building Envelope segment in 2025, although Amrize, Holcim’s former North America division, says that it does intend to increase the properties of this segment. 

Building Materials, for Holcim, includes heavyweight building materials such as cement, concrete and aggregates. As part of the group’s plan to buy its way into the Building Solutions sector it made nine acquisitions in 2025. These were: Algimouss, Alkern Group and Société des Bétons de la Vallée de Seine in France; AMCO in Costa Rica, Comosa y Copce in Mexico; Compañía Minera Luren SA in Peru; CPC AG in Germany; Horcrisa in Argentina for ready-mix concrete; and an insulation solutions business in Poland. Note that one of these companies is a concrete producer but Holcim has classified it under its Building Solutions line in this instance. As discussed previously in this column, Holcim’s strategy to grow its Building Solutions division offers it one way to decarbonise its business.

The proposed CRH acquisition, by contrast, is based in North America and is focused on heavy building materials. It is also much bigger and is the group’s biggest acquisition to date. It has signed a deal to buy Arcosa, a US-based supplier of infrastructure-related products and services for US$8.6bn. The parts CRH has focused on in its press release are the aggregates and Engineered Structures businesses. The former operates 109 quarries and yards, nine asphalt plants, 19 terminals and delivered about 35Mt/yr of aggregate shipments in 2025. If the deal completes, CRH reckons that it will maintain its lead as the largest aggregates producer with over 265Mt/yr. The Engineered Structures business, meanwhile, further opens up the critical infrastructure market to CRH via grid modernisation, electrification and data centre construction projects.

Both the Holcim and CRH deals reflect the different market situations in the US and Europe. As ever with the big US-based acquisitions, the question remains whether CRH’s latest big deal will actually pay off. For example, should an AI-market crash happen then it might put a dent in plans to build more data centres and supporting infrastructure. Failure to draw up a US-Iran peace deal might also drag on the US construction market. One more question to consider with CRH is whether it too might want to spin-off its US-based business like Holcim did in 2025. Holcim’s acquisition of Xella, in comparison, seems more modest but it is targeted at a region with more sustainability legislation. In both of these examples the focus by cement companies on the classic heavy building materials trio of cement, concrete and aggregates continues to be challenged.


Germany: Qlar Group, formerly Schenck Process, has appointed Thomas Giese as its Chief Financial Officer (CFO). He succeeds Dirk Scholz in the role. Giese has assumed responsibility for accounting, controlling, treasury, tax and legal functions.

Giese holds over 30 years’ experience in the industrial sector. He has held management roles at Elster, GKN, IFA, BOS and KraussMaffei, among others. He notably worked for over 16 years at Elster Group from the late 1990s to 2015 eventually become its CFO and Managing Director Gas & Electricity Global.


Türkiye: Akçansa has appointed Tayfun Öneş as its General Manager.

Öneş previously worked as the CEO of Mercedes-Benz Financial Services Romania from 2014 to 2021. Earlier in his career, he worked for Akçansa as its Assistant General Manager - Sales & Marketing. He also held positions as the Company Manager of Akçansa’s aggregates subsidiary Agresa, as a Strategy & Development Manager for Akçansa and as a Marketing & Planning Manager for Çanakkale Çimento in the 1990s and early 2000s. Öneş is a graduate in business economics from the Middle East Technical University in Ankara.


Tajikistan: Construction work on two new 1.2Mt/yr cement plants has begun on behalf of Tajik Cement and Dushanbe Cement. The new plants are both located in Varzob District, close to the country’s capital of Dushanbe, according to Interfax. Both plants are expected to be completed by the end of 2027. China-based Sinoma is supplying the equipment, building and will be commissioning the plants. The two new plant projects follow an announcement by President Emomali Rahmon in May 2026 that the country was preparing to build a total of four new cement plants.


Nigeria: Lafarge Africa has officially changed its name to HBM Nigeria. It said that the rebranding reflected its “…evolved business vision, long-term growth objectives and renewed commitment to delivering superior value to stakeholders.” Lolu Alade-Akinyemi, Group Managing Director and CEO, affirmed that the company remained committed to Nigeria. He added, “We remain focused on delivering quality cement, concrete, aggregates, and innovative building solutions that support infrastructure development, housing growth and industrialisation.”

China-based Huaxin Building Materials completed its acquisition of Lafarge Africa in mid-2025. The change of name to HBM Nigeria was approved by shareholders in April 2026.


Nigeria: David Umahi, the Minister of Works, has asked that cement producers reduce their prices. He warned that the current cost of cement is making infrastructure projects difficult and the government is being forced to continually adjust project contracts, according to the Punch newspaper. The government is preparing to start formal engagements with cement companies from 1 July 2026 on the issue. Umahi made the comments while giving a keynote address at the rebranding of Lafarge Africa as HBM Nigeria.

In a statement Umahi said “I want to insist that Lafarge, now HBM Nigeria, and other manufacturers of cement, should reduce their prices. We shall be engaging on this from 1 July 2026. Manufacturers of cement must reduce their prices because the contractors are urging me to review their contracts. But nobody is reviewing anybody’s contract. It’s the manufacturers of cement that should review their cost.” He added that reducing cement prices would both support the delivery of infrastructure projects and benefit citizens who use cement for domestic construction projects. He also urged cement companies to increase their production capacity to support government projects.


Saudi Arabia: Najran Cement says that an anticipated increase in its production costs due to rising fuel prices has been mitigated by it signed an agreement with the Industrial Competitiveness Program. The program is intended to enhance operational efficiency, reduce production costs and improve the sustainability of industrial operations. Subsequently, it now forecasts that its production costs will rise by 8%. In January 2026 it warned that an increase in the price of fuels by its supplier Saudi Aramco would lead to a 13% rise in production costs.

The cement producer also confirmed that it is continuing to work on operational improvement and cost optimisation projects to further mitigate fuel costs. These measures are planned to reduce production costs by a further 3% and should start be reflected in the company's financial results for the second quarter of 2026.


Cambodia: Prime Minister Hun Manet has announced that tax incentives for local cement producers will be extended for two years until the end of 2028. He made the declaration during a meeting with Cambodia Cement Manufacturing Association (CCMA) chair Vinh Huor at the Peace Palace in Phnom Penh, according to the Xinhua News Agency. The CCMA chair revealed that CCMA member companies have invested approximately US$1.2bn to reach a production capacity of 12My/yr. CCMA members  supply 8 – 9Mt/yr to the local market and 85% of raw materials are sourced locally.


Sweden: Cemvision has signed a strategic partnership agreement with Germany-based Siemens to develop and scale plants to produce its 95% reduced-CO₂ alternative cements. Under the terms of the agreement, Siemens will act as preferred supplier of electricity distribution equipment, control systems, variable speed drives, process instrumentation, cybersecurity, plant lifecycle management, information technology/operational technology integration and plant simulation. The partners are also exploring a digital twin solution to support pre-design activities, value engineering and virtual commissioning of Cemvision's facilities. Siemens will in turn become an early customer of the producer's Re-ment circular materials-based cement.

Siemens CEO Andrea Waenerlund said "Digital twins and advanced process control can optimise cement production in ways that weren't possible before. By combining Cemvision's cement chemistry expertise with our digital and automation capabilities, we're creating a blueprint for sustainable manufacturing."


Europe: Australia-based engineering firm Worley has signed a non-exclusive owner's engineering master services agreement (MSA) with Holcim to support carbon capture, utilisation and storage (CCUS) projects across the producer's EU and UK cement plants. The MSA covers 14 projects, eight of which currently have backing from the EU Innovation Fund. Worley will provide engineering oversight, project management and engineering integration across multiple sites, from early-stage development through execution.

Holcim aims to capture 5Mt/yr of CO₂ from 2030 in order to achieve near-zero cement production of 8Mt/yr.


India: Cement producer Dalmia Bharat plans to raise up to US$422m in new capital to finance planned capital expenditure, working capital and investments in subsidiaries and the repayment of debt. Projects Today News has reported that the producer will raise the funds through equity shares, qualified institutional placements, Global and US Dollar American Depositary Receipts, foreign currency convertible bonds, convertible debentures and other securities.

Dalmia Bharat aims to achieve an installed capacity of 110 – 130Mt/yr by 2031, more than double its present 49.5Mt/yr. The producer is pursuing a combined strategy of expansions and acquisitions. It has forecast composite Indian cement demand growth up to that time of 6 – 7%, driven by all construction segments.


Taiwan: Far Eastern New Century Corporation has acquired a further 2.4% stake in Asia Cement (China) for US$11.7m. In a filing to the Taiwan Stock Exchange, the group recorded that it made the acquisition via its subsidiary Yuan Tone Investment. Far Eastern New Century Corporation was previously recorded as holding a 23% minority stake in Asia Cement (China). It had previously been seeking a buyer for US$63.2m-worth of its shares in June 2025.


Greece: Titan Group has won a 2026 EcoVadis Gold Medal for its performance across environment, labour and human rights, ethics and sustainable procurement metrics in the past 12 months. The award places the producer in the top 5% of companies assessed globally and the top 2% in the cement, lime and plaster segment.

Titan Group’s Chief Innovation and Sustainability Officer Leonidas Canellopoulos said "This recognition strengthens our resolve to accelerate the transformation of our business. We remain focused on scaling solutions that enhance efficiency and increase our positive impact, embedding sustainability more deeply into our decision-making and innovation agenda."


Canada: Amrize broke ground on the modernisation of its cement plant in Saint Constant, Quebec, on Friday 19 June 2026. It said that the modernisation was the largest investment in the Canadian cement industry over the last decade, and will introduce ‘state-of-the-art’ operational efficiency and enhanced sustainability. The upgrade will reportedly improve the plant’s net carbon footprint by over 40% by 2035, offering the lowest CO₂ emissions per tonne of cement in Eastern Canada. It will also expand the plant’s production capacity by 0.3Mt/yr to a total of 1.2Mt/yr, and grow the plant’s workforce by 25%.


India: Adani Group subsidiary Ambuja Cements has partnered with UK-based decarbonisation company Leilac to develop a commercial-scale pathway for low-carbon cement production, according to a statement by the company. The company is increasing the utilisation of renewable energy, as part of its efforts to decarbonise cement manufacturing, supported by nearly 1GW of captive green power capacity. The pilot project will be implemented at Ambuja Cements’ 6.6Mt/yr Sanghi plant in Kutch, Gujarat, where Leilac’s carbon capture and hybrid electrification technology will be tested.

“The technology is designed to enable a pathway where coal consumption can be reduced to zero, while allowing alternative fuels to be used flexibly,” said Ambuja Cements.

If successful, the project could be expanded seven- or eight-fold, enabling the capture of more than 1Mt/yr of carbon dioxide. The company said the facility would be the world’s largest industrial-scale project of its kind and could provide a scalable model for low-carbon cement production in India and other markets.

Karan Adani, director of Ambuja Cements, said “The cement industry’s transition to a lower-carbon future will require bold thinking, technological innovation and collaboration across the value chain. Our partnership with Leilac reflects our commitment to evaluating next-generation technologies that can reduce process emissions while improving energy efficiency and supporting long-term sustainable growth. This initiative aligns with our vision of building world-class manufacturing operations for the future.”


Afghanistan: Afghanistan's Ministry of Mines and Petroleum has signed a 30-year contract with a ‘private company’ for the Aybak Cement project in Feroz Nakhchir district, Samangan province. A 1200t/day cement plant will be built, worth US$67m, which is expected to create jobs for nearly 600 people, according to the Ministry of Mines and Petroleum.

Economic analyst Abdul Zohour Madabar said "We have both renewable and non-renewable resources, so we must use our resources wisely. When extracting minerals, it should be done responsibly and not excessively, because future generations will also need them."


UK: The Global Cement and Concrete Association (GCCA) has held its Building the Sustainable Future: Pathways to Low-Carbon Cement and Concrete conference at County Hall, London, as part of London Climate Action Week on 22 June 2026.

Canada's deputy high commissioner to the UK, Robert Fry, opened proceedings with a call to new partners to join the Cement and Concrete Breakthrough coalition. The coalition is currently engaged in 11 key initiatives across 14 member countries, including upcoming UN Conference of the Parties (COP) Presidents Ethiopia and Türkiye.

Next, Cement Association of Canada president Adam Auer presented his government's strategy of decarbonisation as 'fundamentally modernisation and productivity,' and underlined the need to get policy conditions right for investment to continue to drive demand.

Panel discussions addressed scaling demand, driving the transition in developing countries and financing commercial implementation. Identified barriers included the absence of strong government policy signals, required operational adjustments and user-related difficulties for alternative cements in the bagged cement segment. Against this backdrop, panellists cited success stories ranging from a new Indian mandate for 100% fly ash utilisation and a successful collaboration of Ghanaian standards bodies with calcined clay producer CBI Ghana.

At the conclusion of proceedings, the GCCA launched its Innovandi Open Challenge 2026 accelerator for AI projects for cement and concrete manufacturing. Applicants have until 20 August 2026 to submit their application here.


India: Capacity utilisation in India's cement industry is expected to remain stable at around 70 - 71% in the 2027 Fiscal Year (FY2027), the 12 months to 31 March 2027,  according to a new report from Equirus Securities. While the cement industry is estimated to have grown around 6.5 - 7.5% in FY2026 and demand is expected to grow around 5% in FY2027, the pace of capacity creation is expected to keep utilisation levels broadly stable across the sector.

Industry capacity additions are projected to be 42 - 44Mt/yr in FY2027, following 50 - 55Mt/yr in FY2026. The report notes that demand remained resilient during FY2026, driven by robust construction activity, especially post-monsoon in the second half of the year, supported by sustained momentum across housing and infrastructure segments. India’s cement sector continues to benefit from rapid urbanisation, increasing housing demand and government-led investments in roads, metro rail projects, industrial corridors, ports and other infrastructure projects.


Jamaica: Five additional companies have been granted approval to import cement into country as the government seeks to close a supply gap and alleviate shortages that have affected construction activity. Speaking on 18 June 2026 during a press briefing, Senator Aubyn Hill, minister of industry, investment and commerce, said the import  approvals have been granted for six months.

Jamaica Logistics International Limited was given approval to import 0.1Mt. Rock Hard Cement will import 0.1Mt. Tank-Weld Metals was given the go-ahead for 60,000t. Island Concrete will be allowed to import 60,000t and Gore Developments has been given approval to import 20,000t. Hill also noted that The Buying House Co, which has been operating as an authorised cement importer in Jamaica since 2006, was given an expanded quota of 0.15Mt.

Declaring that the "demand supply equilibrium is coming back to normal," Hill said that approved companies are currently setting up arrangements to make their imports. "We know that the supply is here to meet that demand," he said.

The current cement shortage in Jamaica was triggered by heavy rainfall and raw material issues that impacted production at Caribbean Cement’s Rockfort plant. It was further compounded by high demand for infrastructure projects in the aftermath of Hurricane Melissa, which affected the island in October 2025.


Switzerland/Germany: Cement producer Holcim has announced that it has completed it €1.85bn acquisition of German building materials maker Xella, expanding its building solutions portfolio. Based in Duisburg, Xella is present in 22 European markets and is expected to generate net sales of €1bn in 2026. The transaction should result in synergies of €60m realised in the third year.

Via the deal, Holcim now obtains brands for both the new-build and the energy-efficient repair and refurbishment market. These include prefabricated Ytong and Hebel autoclaved aerated concrete (AAC) modular systems, Silka calcium silicate elements, and Multipor mineral insulation.


Armenia: The government is planning a further temporary restriction on cement imports. This follows previous measures that have helped to somewhat ease competitive conditions in the domestic market for cement produced in Armenia. However, in 2025, cement production in the country amounted to just 0.94Mt, a decrease of 10.4% compared to 2024. According to the Statistical Committee, cement imports came to 0.75Mt of cement for the same year, a 29.2% increase compared to 2024.


Iran: Shahroud Cement has obtained an operating licence for a 4.8MW segment of its 10MW solar plant from the Renewable Energy and Energy Efficiency Organisation. The company said that, when the entire plant is commissioned, 4.5MW is to be delivered to the national grid, with 2.5MW connected to the grid since 16 June 2026. A further 3MW is connected to the plant.

Shahroud Cement said it planned to build an additional 3MW solar unit alongside the 10MW plant to help cover potential shortfalls in grid delivery, and would report further once that is implemented and operational.


Spain: Cement consumption in Spain fell by 0.3% year-on-year to 1.47Mt in May 2026, according to data from cement employers' association Oficemen. Consumption in the first five months of 2026 rose by 7% year-on-year to 6.79Mt. Data for the period from June 2025 to May 2026 shows that consumption rose by 12% to 17.1Mt. Exports fell by 18% year-on-year in May 2026 to 344,000t. In the first five months of 2026, exports dropped by 17% to 1.58Mt. Between June 2025 and May 2026, exports declined by 14% to 4.18Mt.


Spain: Cement consumption in Spain decreased by 0.3% in May 2026 to 1.47Mt, 4820t less than in the same month of 2025, according to data published by the cement employers' association Oficemen. However, the accumulated consumption in the first five months of 2026 saw growth of 7% to 6.8Mt, 0.45Mt more than in the previous corresponding period. Exports continue to decrease. The monthly figure for May 2026 shows a 17.5% drop, bringing exports to 0.34Mt, 72,803t less than the same month in 2025. This behaviour is also reflected in the accumulated total for the first five months of 2026, which stands at 1.58Mt, 17% less than in the same period in 2025.


Europe: Eureka Shipping, the joint venture company formed by Cyprus-based SMT Shipping and Canada’s CSL Group, has taken delivery of a new self-unloading cement carrier built by Dutch shipyard Royal Bodewes. ‘Jorvik’ is the final vessel in a series of eight ships built for Eureka, as well as the company’s 10th overall self-unloading cement carrier. It will be operated primarily on short haul routes across northern Europe. The ship has a deadweight of 4250t, a gross tonnage of 2658t and a total cargo capacity of 4160m3. The system can load up to 1000t/hr and pneumatically discharge up to 250t/hr.


China: Hong Kong’s Development Bureau will test whether heavy-duty drones, weighing nearly 150kg each, can carry essential items across up to six sites over the next 12 months, according to the South China Morning Post. The bureau said it was partnering with two companies to test whether the devices could carry heavy materials such as cement for construction work. Other potential applications could reduce safety risks and save maintenance costs for public projects and facilities.

“We want to use this Sandbox X project to trial the emerging technology and see how this new, complex, unconventional concept and technology can be safely iterated, validated, applied and extended under real-world conditions in our actual sites and facilities, and then to identify challenges we will face and adjust whatever is necessary in the applications accordingly. This is the first purpose,” a bureau spokesperson said. “This will not only help lower operational safety risks and simplify daily procedures, but also effectively enhance emergency response capabilities.”

The trial run is part of a ‘regulatory sandbox’ launched in November 2025. The spokesperson added that the drones could carry items weighing up to 80kg. Using a drone to bypass obstacles on the ground and traffic bottlenecks could significantly speed up operations to save time and operating costs, while eliminating the need for manual transport, they said. It could replace multiple truck trips from one end of the site to the other, with quick, direct point-to-point aerial deliveries, posing an advantage at large, muddy or multi-level sites.


Philippines: OceanaGold Philippines (OGP) has partnered with Holcim’s waste management business Geocycle to reduce the landfill disposal of its Didipio gold-copper mine in Nueva Vizcaya, according to the Business Inquirer. The parties entered into a two-year memorandum of understanding that will divert up to 70% of the mine’s residual waste to be co-processed in Geocycle’s facility in Norzagaray, Bulacan, with OGP taking on the haulage cost. OGP said that the lifespan of its existing landfill will be extended from 1.8 years to approximately 10.8 years, and that it expects to save up to US$101,000 since it may no longer need to build another landfill facility.

“Our existing landfill facility is nearing capacity and could be full within the next year. Rather than expanding our landfill footprint, we have chosen a more sustainable and forward-looking solution,” OGP asset president James Isles said.


Ireland: Mannok’s cement plant at Ballyconnell shut down for scheduled maintenance at the beginning of 2026, and a new kiln hood was installed. The original kiln cooler Fixed Inlet Grate was installed in 2000, and had become ‘deformed’, resulting in significant ingress of false air. It was replaced by an ABC cooler inlet and outlet seal. Mannok said that the upgrades were already delivering measurable gains in energy efficiency and enabling increased fuel-switching capability. Mannok appointed Fuller as engineering, procurement and construction contractor, which supplied the kiln hood, cooler inlet and outlet seal, while G Leonard carried out the refractory works. The thermal substitution rate has reportedly increased significantly and the cooler inlet has eliminated the formation of ‘snowmen’ – the solidified build-up of molten clinker in the grate, reducing downtime and improving production reliability.

Paul Carron, decarbonisation engineering manager at Mannok, said “Projects like this are central to our strategy as we continue to decarbonise our cement operations. The successful installation of the new kiln hood and ABC cooler components is already delivering tangible efficiency gains and enabling greater use of alternative fuels. From initial planning through to execution, the project ran very smoothly, which is a testament to the collaboration between our in-house teams and trusted partners. This is another important step forward as we remain fully committed to achieving our decarbonisation goals under the Mannok 2030 Vision.”