Global Cement News

Jamaica: Caribbean Cement is allocating US$8m, 20% of its planned US$40m investment in 2024, to increase sustainability efforts at its Rockfort plant. The company is aiming to become net-zero by increasing its use of alternative fuels and repurposing materials like tyres, which will also help to save on operational expenses and fuel costs, according to the company.

The repurposing of tyres, which commenced following a Government of Jamaica partnership, will remove a ‘significant’ portion of the estimated 1.5m tyres at the country’s Riverton dump, along with other materials such as pallets, which Caribbean Cement now uses as alternative fuel sources in the cement manufacturing process. With the help of its XRC3000c shredder obtained from Austria-based company UNTHA, Caribbean Cement said it has shredded more than 9000 tyres to date.

Managing director Jorge Martínez said “At the moment our first goal for the end of 2024 is to at least reach 10% alternative fuels. We will remove some of those fuels that are not renewable, substituting it with ones that are. This is part of our future in action programme. Some of these actions are also related to the reuse of some materials in the plant as we take waste materials from other industries and beach clean-ups for repurposing. We try to reuse them in any way we can.”

US: Cemex has contested Boulder County's decision to terminate its right to operate the Lyons cement plant and is calling for the decision to be reversed, citing ‘significant’ implications for the state and local employment. The dispute follows a notice from the Boulder Country Community Planning office in April 2024, attributing increased traffic as the primary reason for the termination. The county and the Colorado Department of Transportation began investigating the plant in 2022, after residents of the area complained.

Cemex stated in its response to Boulder County "The Department's conclusion did not take into account the historical trucking of material to and from the Lyons cement plant, relying instead on a study Cemex voluntarily undertook for the Colorado Department of Transportation for a different purpose, and that considered only three days of traffic data in each of two consecutive years. The determination also failed to apply applicable precedent that a nonconforming use does not terminate when traffic occurring off-site changes."

The Community Planning and Permitting Director will now review the additional evidence brought forth by Cemex and issue an additional determination. Depending on the outcome, Cemex will have the option to appeal the decision to the Boulder County Board of Commissioners. The closing of the Lyons plant would lead to the loss of 100 jobs and only two cement plants remaining in Colorado.

Ireland: CRH has reported a positive start to 2024, with total revenues reaching US$6.5bn in the first quarter of 2024, marking a 2% year-on-year increase from US$6.4bn in the same period of 2023. The company attributes this growth to early-season project activity and favourable weather in parts of the US, alongside gains from pricing strategies and acquisitions which helped counterbalance lower volumes in Europe. CRH turned a net income of US$114m, an improvement from a net loss of US$31m in the first quarter of 2023. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) also rose by 15% year-on-year to US$445m.

As a reward for investors following this profit rise, CRH has launched an additional US$300m share buyback. This new tranche, set to be completed by 7 August 2024, follows the US$600m in shares the company has already repurchased this year as part of its ongoing buyback programme. CRH also indicated it would continue to evaluate its buyback strategy throughout the remainder of 2024.

Albert Manifold, CEO, said "We are pleased to report a good first quarter performance in what is the seasonally least significant period for our business. That performance was supported by positive pricing momentum, early-season project activity, favourable weather in certain regions and the contribution from acquisitions.”

US: Cemex, in collaboration with the Mission Possible Partnership (MPP) and supported by the Bezos Earth Fund, is undertaking an analysis of decarbonisation strategies at its Balcones cement plant in Texas, US. This initiative is part of Cemex's broader goal to achieve net-zero CO₂ emissions by 2050. The analysis will explore various technological pathways including the use of alternative fuels, incorporation of lower-carbon materials, carbon capture and storage and the utilisation of captured carbon for producing synthetic fuels, chemicals, or construction materials. The partnership focuses on innovations such as substituting traditional fossil fuels with waste, renewable gas, biomass, hydrogen and electrification in the cement production process.

CEO of Cemex, Fernando González said “Our collaboration with the Mission Possible Partnership represents a joint effort seeking to accelerate our sustainable commitments and comprehensively evaluate the extent to which we can utilise decarbonisation levers within a specific plant ecosystem. This involves leveraging scalable technologies that would contribute to achieving our ambitious decarbonisation goals on the path to becoming a net-zero company by 2050.”

Italy: Cementir Holding has disclosed its financial results for the first quarter of 2024, showing a mixed performance. While the company saw growth in volumes compared to 2023, with cement up 2.3%, ready-mixed concrete up 3.7% and aggregates up 8.9%, financial metrics indicated some challenges.

Revenue for the quarter stood at €368m, marking an 11.2% decrease from €415m in the same period of 2023. Similarly, earnings before interest, depreciation and amortisation (EBITDA) fell by 18.1% year-on-year to €66.5m, down from €81.2m in the first quarter of 2023. The company's profit before taxes also declined by 8.2% year-on-year to €58.7m from €63.9m. However, Cementir Holding reported net cash of €76.6m, a substantial increase from a net financial debt of €32.1m as of 31 March 2023.