Global Cement Newsletter

Issue: GCW766 / 01 July 2026

Headlines


Another week and we have another large heavy building materials acquisition in the US. Martin Marietta said it was spending US$13.5bn to buy Lhoist North America (LNA). This time the target is a lime company. Let’s find out what’s been happening with this one.

In an earnings call this week, Martin Marietta’s CEO Ward Nye described the deal as “totally in our wheelhouse” and one covering “mission critical products.” He went on to highlight the lime business’ higher margins, strong market position, diversified end markets and pricing power. He also noted the sector’s resource scarcity and its high barriers to entry. These are clearly the kind of comments investors might want to hear about a multi-billion dollar investment. Despite this, however, the stock price of Martin Marietta fell slightly after the announcement.

The deal has been described as a “definitive agreement to combine” with the North America-based subsidiary of Lhoist Group rather than a plain acquisition. This starts to make sense because Martin Marietta is buying LNA but Lhoist’s owners will also gain a stake in its subsidiary’s new owner. Martin Marietta will pay US$13.5bn in cash and shares of its common stock for the transaction. The deal will make FGI, the Berghmans family holding group that owns Lhoist, the largest single shareholder of Martin Marietta, with representation on its board of directors. Lhoist's operations in Europe, Latin America, Asia-Pacific and Middle East and North Africa will remain fully owned by FGI.

The attraction of the deal is that it gives Martin Marietta control of a major lime producer in North America with over 2Bnt of limestone reserves in “Sun Belt metropolitan corridors.”  Martin Marietta reckons these reserves will last over 200 years. LNA operates a network of 20 quarries and production facilities and 45 distribution terminals. The privately owned subsidiary reportedly generated sales of US$1.8bn and adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$786m in 2025. In that earnings call Nye explained that his company is aiming to target its aggregates, lime and specialty products business lines at “...infrastructure and industrial mega projects, including highways, data centres, semiconductor fabrication, and liquefied natural gas (LNG) facilities across the southern US, most notably in Texas, our largest and one of the most attractive construction markets in North America.” Focusing on Texas he went on to point out, for example, the potential synergies between lime and aggregates products for road building. He also noted the role of lime in demand for steel products in the southern US and the boosting role of America First government trade policy.

As discussed in last week’s Global Cement Weekly the Martin Marietta deal ties in with an ongoing trend in market reorganisation in heavy building materials companies in North America. CRH’s recent agreement to buy Arcosa, a US-based supplier of infrastructure-related products and services, for US$8.6bn is one example. Quikrete’s acquisition of Summit Materials for US$11.5bn in early 2025 is another. Martin Marietta is linked to that last one since it sold its cement and concrete business in Texas to Quikrete in exchange for the latter’s aggregates business and US$450m in cash in early 2026. Other instances of large deals in the US-based building materials sector include Lowe's acquisition of Foundation Building Materials for US$8.8bn in 2025 and US Depot’s purchase of SRS Distribution for around US$18bn in 2024. Both of these deals covered the distribution of light building materials but are indicative of the state of the sector.

The other aspect to note with Martin Marietta and LNA is the geographic focus on North America. The continued involvement of FGI in LNA is similar to the spinoff of Amrize by Holcim. Once again a Europe-based building materials company is separating off its division in North America. One smaller and anecdotal reflection on the perceived strength of the US cement market can be seen in some other news stories we reported upon this week. These included two items on exports from North Africa to the US and the opening of a new cement import terminal in Florida.

To conclude, here is one more large deal in the US building materials sector. Martin Marietta looks set to return, in part, to selling calcined building products. It’s not worth reading too much into that dip in Martin Marietta’s share price after the deal was announced but it may suggest that the market is reflecting upon the size of the proposed transaction.


South Africa: PPC has appointed Veliswa Rozani as its Chief Financial Officer (CFO). She succeeds Brenda Berlin in the role, as she has retired. Rozani will take up the position from 1 October 2026. In the interim period Paulo Marques, currently PPC’s chief strategy officer, has been appointed as acting CFO.

Rozani is a chartered accountant with over 20 years’ experience in financial management roles across multinational and South African organisations. She currently works as group CFO of NMI–Durban South Motors, a joint venture partner of Barloworld South Africa. Previously, she was the CFO of Barloworld Motor Retail South Africa. Her career also includes senior roles at Johnson & Johnson and Microsoft SA, and she completed her articles at PricewaterhouseCoopers. Rozani holds an undergraduate degree in commerce and a master’s of business administration (MBA) qualification from Nelson Mandela University in George and Port Elizabeth. 


India: Madhavi Isanaka has resigned as Chief Digital Officer (CDO) at Ambuja Cements with immediate effect citing medical reasons and personal commitments.

Isanaka became CDO at Ambuja Cements in early 2025. She has been CDO at fellow Adani Group subsidiary Adani Green Energy since mid-2022. Earlier in her career she worked for US-based engines and power systems company Cummins in information and digital roles from 2001 to 2019. She later held the post of Vice President of IT, CIO at US-based electric car manufacturer Rivian from 2019 to 2021. Isanaka holds an undergraduate degree in engineering from Sri Venkateswara University, Tirupati, and a master’s of business administration (MBA) qualification from Indiana University in the US.


Austria: Wietersdorfer Gruppe recorded sales of €1.09bn in 2025, down by 1% year-on-year. Europe contributed 76% of sales, led by Austria with €167m (15%), Italy with €147m (14%), Germany with €143m (13%) and Slovenia with €137m (13%). The group noted local sales growth of 38% in Italy, following its acquisition of the Fanna cement plant, and of 60% in Spain, following successful expansion of its water infrastructure business. Wietersdorfer Gruppe employed 3783 people worldwide in 2025, including 748 in Austria.

The producer invested €106m worldwide in 2025, including €20.7m (20%) in Austria and €13.3m (13%) in its home state of Carinthia. Sustainability-based projects accounted for €14.8 (14%) of investments. At its Wietersdorf cement plant in Carinthia the group invested €3m in new cement and concrete silo construction.

Chief Financial Officer Hannes Gailer said "international project markets were shaped more strongly by public investment cycles and price and currency fluctuations" in 2025 than in previous years.

The group forecast a ‘challenging environment’ continuing into the second half of 2026 due to macroeconomic cost pressures, high energy prices and trade uncertainty.

CEO Michael Junghans said "For 2026, we remain deliberately cautious in our planning."


Japan: Sumitomo Corporation has agreed to transfer a 70% stake in its cement trading arm, SC Cement, to Sumitomo Osaka Cement. Sumitomo Corporation will retain the remaining 30% of SC Cement. Sumitomo Corporation expects to complete the transfer on 1 October 2026. Following the transfer, SC Cement will appoint its current president, Junji Kitao, as chair, and Takayuki Hisamitsu, currently Senior Managing Director at construction products trading company Sumice Kenzai, as president. Sumitomo Corporation intends the transfer to combine Sumitomo Osaka Cement's technological capabilities and business foundation with SC Cement's nationwide distribution network.

SC Cement distributes cement and related products and operates eight ready-mixed concrete plants across Japan.


Philippines: The Department of Trade and Industry (DTI) launched the Philippines’ first Cement and Concrete Decarbonisation Roadmap on 29 June 2026, the second of its kind in South East Asia, after Thailand’s. The roadmap sets out decarbonisation strategies with five-year milestones through to 2050. Strategies include increasing supplementary cementitious materials deployment, renewable energy consumption and energy efficiency, as well as installing carbon capture systems at cement plants. The Business Mirror newspaper has reported that the government of Canada, the United Nations Industrial Development Organization (UNIDO) and the Cement Manufacturers Association of the Philippines (CeMAP) all collaborated on drafting the roadmap, with funding from Environment and Climate Change Canada.


Saudi Arabia: India-based software developer Mastek has successfully digitised operations at Yanbu Cement’s Yanbu cement plant in Medina province. Mastek deployed automation, industrial internet of things (IoT) and integrated enterprise platforms throughout the plant’s 5.9Mt/yr integrated cement production and 10Mt/yr despatch processes. The plant also handles 220,000 truck movements annually. Mastek installed Oracle Fusion Cloud enterprise resource planning (ERP) software, integrated with IoT-enabled weighbridges, automated gate systems, GPS-driven transit tracking and a unified dashboard to provide real-time visibility from order to delivery. A new customer-facing digital portal facilitates order placement and live shipment tracking. As a result of these operational changes, truck turnaround time halved.

Yanbu Cement CEO Ali Al Ayed said "The transformation has enhanced operational efficiency and reduced costs, leading to quick turnaround and accelerated deliveries."

Yanbu Cement hired Mastek for the project in 2024, extending a digital and cloud transformation programme the two partners began in 2022.


Taiwan: Asia Cement (China) has won a 2026 Asia Responsible Enterprise Awards (AREA) award in the Social Empowerment category for its Co-Governance Plan with Tribes and Communities: Long-Term Actions to Build Local Social Resilience strategy. The strategy includes operational integration of community consultation and Free, Prior and Informed Consent (FPIC) procedures, and support for cultural preservation, disaster preparedness and post-disaster recovery. As a result, the producer also received an AREA Silver Emblem of Sustainability for its efforts under the plan.

Asia Cement (China) has previously won AREA awards across the Circular Economy, Corporate Governance, Green Leadership, Health and Sanitation, Social Empowerment and Sustainability Reporting categories every year since first entering in 2018.


India: UltraTech Cement has received an 82,000t consignment of coal from the US into Deendayal Port in Gujarat. Maritime Gateway News has reported that a Hong Kong, China-registered vessel made the delivery.

UltraTech Cement’s local cement plants include the Babarkot and Kovaya plants, both in Amarli district.


US: Martin Marietta Materials has announced that it will combine with Lhoist North America (LNA) for US$13.5bn in cash and shares in Martin Marietta. The transaction is expected to be completed in the second half of 2026, subject to regulatory approvals. Lhoist North America is a producer of lime and industrial mineral products, operating a network of 20 quarries and production facilities and 45 distribution terminals. It generated US$1.8bn in gross sales in 2025. LNA has more than 2Bnt of limestone reserves in Sun Belt metropolitan corridors.

Ward Nye, president and CEO of Martin Marietta, said "This transaction represents another transformational milestone for Martin Marietta and directly advances our SOAR 2030 objective to expand our Specialties segment in lime and other industrial minerals. It builds on our core quarrying competency, expands our geographic footprint and establishes Martin Marietta as the leading national producer of lime solutions. As the US continues to invest in infrastructure, advanced manufacturing, energy development and industrial expansion, demand for high-quality lime products is expected to remain resilient for decades to come.

Baron Berghmans, chair of Lhoist Group, said "For more than a century, our family has built Lhoist into a global leader by safeguarding world-class limestone reserves and serving our customers with discipline, quality and care. In Martin Marietta, we have found a partner who shares these values, honours the legacy we have carefully built and ensures it will endure for generations to come.”


Iraq: Construction has begun on the Ramadi Cement plant in Anbar province, which will produce 1Mt/yr of cement, according to Shafaq news. The project is 100% privately financed and is part of efforts to expand Iraq’s industrial capacity and attract investment into the country. Moayad al-Dulaimi, spokesperson for the Anbar provincial government, said that the facility is expected to create at least 5000 jobs and support the development of the province's natural and mineral resources. He added that construction is currently between 27% and 30% complete. The plant will incorporate German technology, while Swiss engineering teams are overseeing construction ‘to ensure compliance with international technical standards.’ The developer, Sada Al-Nujoom for Contracting and Oil Services, has built a 26MW power plant to supply electricity to the plant.


Syria: Saudi Arabia-based Al Jouf Cement has signed a supply contract to export cement and clinker to Syria, valued at US$14.7m. The contract is valid for one year. The company signed the contract with Maham Constructing and Contracting Co, an investment group operating in the construction and logistics sectors. The financial impact of the contract will be reflected in the company’s financial results starting from the third quarter of 2026. Details were not disclosed regarding tonnage of the exports.


Philippines: Mark Anthony Agsalud Integrated Waste Solutions in Bonbonon will process post-consumer materials into refuse-derived fuel (RDF) for cement plants. The facility only accepts segregated waste from households and commercial establishments, which will be delivered to Holcim and Republic Cement’s facilities to be used for their cement production. A recent delivery was reportedly made on 25 June 2026 for Republic Cement, according to Minda news. An official said that the payment for the deliveries is an internal arrangement between the waste processing firm and the two cement companies.


Philippines: The Cement Manufacturers Association of the Philippines (CEMAP) said that it supports the Department of Trade and Industry’s (DTI) order to destroy 12,500t of ‘substandard’ Portland cement worth US$977,000, seized in Ilocos Norte. The DTI, through the Bureau of Philippine Standards, ordered the destruction of the shipment after laboratory testing found that it failed to meet the national standard, specifically on loss on ignition, insoluble residue and 28-day compressive strength. The cement was imported from Vietnam, and consisted of 3700t in 40kg bags and 8800t in ‘jumbo’ bags, stored in a warehouse pending inspection.

CEMAP executive director Renato Baja said “As an earthquake-prone country, we cannot afford to take risks with substandard construction materials. The quality of construction materials remains an indispensable requirement. The destruction of non-compliant cement sends a strong message that there is no place for substandard products in the Philippine market.”


US: SESCO Cement officially opened its new cement import terminal at Port Redwing in Gibsonton, near Tampa, Florida. The ribbon-cutting ceremony included SESCO Cement leadership, Port Tampa Bay officials, state representative Michael Owen and representatives from the construction and maritime industries. The 5.6-hectare facility includes nearly 100,000t of storage capacity and is expected to become the largest cement terminal in Florida upon full build-out. The terminal features what the company describes as the largest wheel-mounted cement ship unloader currently in operation, along with a mobile conveyor system designed to move materials from ships to storage and distribution networks.

SESCO Cement CEO Rick Van Eyk said “As a key partner in the region’s construction and infrastructure supply chain, SESCO Cement plays an important role in supporting continued growth across West Central Florida and reinforcing Tampa’s increasing importance as a gateway for global construction materials.”

The terminal is strategically positioned to serve Florida’s construction markets through maritime shipping lanes, interstate highways and rail networks. SESCO expects to move ‘significant’ volumes of cement, supplementary cementitious materials and aggregates through the facility. A custom-designed ship unloader arrived in Tampa earlier in 2026 following a 25-day voyage and was assembled locally after nearly two years of engineering and design work.


Algeria: The port of Annaba recorded the loading of more than 38,000t of cement on 27 June 2026, destined for the US and Spain, according to a statement from the port company's general management. These shipments involved 30,500t of white cement, destined for the US (ports of Philadelphia and West Palm Beach), as well as 7800t tonnes of the same material on board a second ship, destined for the port of Almeria, Spain, on behalf of Biskria Ciment.

Meanwhile, more than 13,000t of cement and clinker were shipped on 24 June 2026 from Algeria’s port of Skikda to Libya. The bulk carrier Mustapha Afandi loaded 5000t of clinker, the Noran Ed cargo ship loaded 5800t of bagged cement and a third vessel loaded an additional 3000t of bagged cement from the Hadjar Soud cement plant, part of the Algerian Cement Industry Group (GICA).


Qatar: Qatar National Cement Company (QNCC) has celebrated the achievement of 1 million manhours without a lost-time injury, accomplished within 312 days. QNCC said that the achievement reflects its commitment to maintaining the highest standards of health, safety and operational excellence across all its operations. It said that the milestone was a result of continuous training, proactive hazard identification, effective risk management and strict compliance with health, safety and environment requirements.


Uzbekistan: Cement production in Uzbekistan increased by 35% year-on-year to 6.5Mt during the first four months of 2026, according to the National Statistics Committee of Uzbekistan. The country remained the largest supplier of cement to Kyrgyzstan throughout 2025 and 2026. By the end of 2025, cement imports from Uzbekistan to Kyrgyzstan had grown nearly fivefold, reaching almost 0.7Mt. This upward trend continued into the first four months of 2026, with supplies to Kyrgyzstan expanding 4.6 times year-on-year to reach 0.34Mt.


Saudi Arabia: Qassim Cement expects a fuel price adjustment to increase its operating costs by about 3%. The adjustment applies to fuel used at the company’s plants in Qassim and Hail, the company said in a statement. It said that it remains committed to mitigating the ‘financial impact’ of the price increase.  


Spain: The Spanish Ministry of Industry and Tourism has awarded over €119m in funding to Votorantim Cimentos for a decarbonisation project at its cement plant in Toral de los Vados. The funding is part of the PERTE industrial decarbonisation funding programme, part of the Recovery, Transformation and Resilience Plan for 2026. In total, €518m in grants have been awarded to 17 projects over the cement, aluminium and paper sectors. The cement sector received the bulk of the funding, accounting for over €300m of the funding.

The project submitted by Votorantim is the construction of a CO₂ capture plant at its plant in the Bierzo region. However, according to Moncloa newspaper, the project is still under internal review, meaning that the allocation of these funds does not automatically guarantee its implementation. The project's budget is reportedly ‘significantly’ higher than the €119m available.

"We need to analyse all the requirements in detail to ensure we have all the necessary guarantees and technical rigour. We're talking about a project that presents a significant challenge and involves coordination with various stakeholders. We're assessing all the circumstances and will see how it all unfolds," said a spokesperson for Votorantim.

Cemex’s plant in Tarragona was awarded €200m.

"The PERTE industrial decarbonisation programme, with a public investment of €3.17bn, will allow the mobilisation of up to €11.8bn euros in total investment, increasing productivity by 10%, generating 8000 jobs and reducing CO₂ emissions into the atmosphere by 13Mt/yr," said the Ministry of Industry.


Sweden: SaltX Technology, Holcim and Paebbl have received funding through the CET Partnership, an EU programme for energy and climate technologies. The three will jointly demonstrate an integrated concept that combines electrified cement clinker production with the circular utilisation of CO₂ across the industrial value chain. The project will be carried out at SaltX’s industrial test and research facility in Hofors, Sweden. Paebbl’s mineralisation technology permanently binds captured CO₂ into carbon-negative construction materials. Together with Holcim, the partners are developing a solution that can be implemented in both existing and future cement plants.

Lina Jorheden, CEO at SaltX Technology, said "We have already demonstrated that high-quality cement clinker can be produced through a fully electrified process. This collaboration brings together leading industrial and research partners across the value chain to demonstrate how electrification and circular carbon utilisation can be integrated at industrial scale. Together, we are laying the foundation for a new generation of cement production."

Andreas Saari, co-CEO and co-founder at Paebbl, said “The cement industry faces a dual pressure: reduce energy intensity and eliminate CO₂ emissions at the same time. This collaboration shows what it looks like when you tackle both together, electrifying the kiln and turning the captured CO₂ into a carbon-storing SCM that pushes the boundaries of carbon efficiency in the concrete mix itself. We’re thrilled to be part of an aligned consortium committed to bringing an order of magnitude better solution to the market through our joint efforts.”


Egypt: Titan Egypt has officially inaugurated two export silos at its Alexandria plant, representing an US$11m investment to strengthen the company’s export capabilities.

This expansion enabled the company to export its first 38,000t shipment of Type I/II cement to the United States in May 2026. It aims to raise its export volume to 300,000t/yr by the end of 2026, with plans to increase its export capacity to 1.3Mt/yr by 2028.

Khaled Hashem, Minister of Industry, said "The inauguration of the two new export silos and the export of the first shipment of Egyptian cement to the US represent a significant achievement that reflects the ability of Egyptian industry to penetrate global markets with high technical and competitive standards. Furthermore, this project embodies investor confidence in the Egyptian economy and industrial sector, marking a strategic step toward enhancing the export capabilities of our national industry."

Marcel Cobuz, Chair of the Group Executive Committee of TITAN Group, said "Today, we open the next chapter: export silos that add storage, capacity and reach. The first shipment has already departed Alexandria for the US - cement made here, used in America. This year, we are moving toward 1Mt of exports, each one earning valuable foreign currency for Egypt. TITAN believes in Egypt. We have invested here for a quarter of a century, and we look forward to continuing to build - responsibly, and together with you."


Cameroon: Dangote Cement Cameroon plans to double its production capacity in the country by 2028, as it seeks to capitalise on growing demand from infrastructure projects and the construction sector. The company aims to raise output from 1.5Mt/yr to 3Mt/yr.

According to Dangote Cement's quarterly report, its sales volumes in Cameroon fell by 16% year-on-year during the first quarter of 2026, reaching about 0.3Mt. The company is upgrading its Douala plant, which currently has a production capacity of 1.5Mt/yr. The group recently signed a US$1bn agreement with China-based Sinoma Engineering to build new plants and modernise existing facilities across seven African countries, including Cameroon.

The company has also revived plans to build a second cement plant with a capacity of 1.5Mt/yr in Yaoundé, which has been dormant for several years. The facility is no longer expected to be built in Nomayos, as originally planned. Instead, it will be located in an industrial development zone within the capital, according to local press. No further details on the site or implementation timeline were disclosed.


India: Gebr Pfeiffer has commissioned three mills at Shree Cement’s Kodla plant. The first mill was a MVR 6000 R-6, the second was a coal mill MPS 3070 BK and the third was a MVR 6000 C-6. These are the 42nd, 43rd and 44th Gebr. Pfeiffer mills across all of Shree Cement’s plants.


India: To accelerate industrial growth and generate employment, the State Investment Promotion Board (SIPB) cleared 36 investment proposals worth US$172m at its meeting on 24 June 2026. The largest proposal was from UltraTech Cement, which will set up a 3.5Mt/yr cement plant in the industrial area at Katoria, Bihar, with an investment of US$66.8m. The project is reportedly expected to boost infrastructure and create jobs in the region.


Pakistan: All Pakistan Cement Manufacturers Association (APCMA) has welcomed a multi-agency crackdown against an illegal cement plant operating under the name Red Bull Cement near Lahore. Upon inspection, authorities found the plant to be operating without mandatory approvals, registrations, environmental clearances and other statutory permissions required under law. Operations were subsequently suspended and the premises shut down. The Nation newspaper said that illegal cement manufacturing not only causes substantial losses through tax evasion, but also undermines fair competition by bypassing the environmental, quality, safety and regulatory requirements that compliant manufacturers are obligated to meet.


Egypt: Titan Egypt has signed a power purchase agreement with SolarizEgypt to facilitate the construction of an 11.5MW solar farm. SolarizEgypt will build the photovoltaic farm to supply Beni Suef Cement, Titan Egypt’s subsidiary. The solar company will also take care of the financing, ownership, operation and maintenance of the plant. The renewable energy will reportedly cover ‘a significant portion’ of Beni Suef’s electricity consumption.


Egypt: Misr Cement will increase its reliance in alternative fuels at its Qena and Minya plants, according to Reuters. It said that it is targeting investments in alternative fuel projects of between US$7m-US$8m in the initial phase for each plant, and hopes to improve operational efficiency, environmental sustainability and reduce costs.