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Loma Negra increases first-quarter sales, earnings and profit in 2022

10 May 2022

Argentina: Loma Negra’s first-quarter sales were US$171m in 2022, up by 20% year-on-year from US$143m in the first quarter of 2021. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were US$60m, up by 14% from US$52m, while its net profit was US$41m, up by 11% from US$37m. The producer’s cement, masonry and lime sales volumes rose by 6.6% in the quarter to 1.48Mt from 1.38Mt.

Published in Global Cement News
Tagged under
  • Loma Negra
  • Intercement
  • Argentina
  • Results
  • volumes
  • GCW556

GCCA launches Innovandi Open Challenge

10 May 2022

World: The Global Cement and Concrete Association (GCCA) has named its first six startups to receive backing under the inaugural Innovandi Open Challenge. The startups have partnered with GCCA members to help increase cement’s sustainability towards achieving net zero CO2 concrete production by 2050. This will lead to the formation of six consortia to further test, develop and deploy their new technologies.

Carbon capture, utilisation and storage (CCUS) startups CarbonOrO, MOF Technologies and Saipem, all based in Europe, are among the participants. GCCA members are currently involved in dozens of pilot projects and aim to have 10 industrial-scale carbon capture plants installed by 2030. Other startups Carbon Upcycling Technologies and Fortera, from Canada and the US respectively, use captured CO2 to produce low-carbon cement and cementitious materials, while UK-based Coomtech has developed a low-cost drying technology using turbulent air.

GCCA CEO Thomas Guillot said “It’s a proud moment to see the industry coming together to support such innovative start-ups on their journey. Our member companies were greatly impressed by their ambition to be a key part of the climate solution. The programme is another big step forward towards unlocking innovation to help us achieve our net zero goal.” He continued “As the need for resilient and sustainable communities to support a growing global population becomes more pressing , cement and concrete will be essential to providing the infrastructure and buildings that society needs. Achieving net zero concrete relies on a number of different groups playing their part, and as an industry we’re looking outwards as well as inwards, to see how start-ups like these can support our goals.”

Published in Global Cement News
Tagged under
  • GCCA
  • Innovandi
  • innovation
  • Sustainability
  • CO2
  • carbon capture
  • CCS
  • carbon capture and utilisation
  • carbon capture and storage
  • Carbon OrO
  • MOF Technologies
  • Saipem
  • Europe
  • North America
  • US
  • Canada
  • UK
  • consortium
  • Strategy
  • dryer
  • circular economy
  • Recycling
  • Coomtech
  • Carbon Upcycling Technologies
  • Fortera
  • GCW556

Kant Cement to open Uzbek sales office

10 May 2022

Uzbekistan: Kyrgyzstan-based Kant Cement has announced plans to open a sales office in Uzbekistan. Kant Cement is a subsidiary of United Cement Group and operates the Kant and AC cement plant in Kyrgyzstan’s Chüy Region.

Published in Global Cement News
Tagged under
  • Uzbekistan
  • Kant Cement
  • United Cement Group
  • sales office
  • market
  • Export
  • GCW556

Siam City Cement’s first-quarter sales rise in 2022

09 May 2022

Thailand: Siam City Cement recorded consolidated sales of US$363m in the first quarter of 2022, up by 21% year-on-year from first-quarter 2021 levels. The group’s net profit fell by 25% to US$23.2m from US$30.7m.

Published in Global Cement News
Tagged under
  • Thailand
  • Siam City Cement
  • Results
  • growth
  • GCW556

GE Renewable Energy acquires minority stake in COBOD International

09 May 2022

Denmark: GE Renewable Energy has invested in a minority stake in COBOD International. The companies said that the investment will build on their existing relationship since 2019. GE Renewable Energy chose COBOD International as the global market leader in 3D printing technology, which experienced double-digit growth in 2020.

GE Renewable Energy advanced manufacturing technology leader Matteo Bellucci said “This agreement, which will further strengthen our ability to use COBOD’s 3D printing technology and competences in the renewable energy space, is another sign of our commitment to help drive the energy transition by investing in technology that promotes a more sustainable, circular design strategy and helps to create local jobs.” He continued “Since we started cooperating with COBOD, the company has continued to improve their technical competence and innovative solutions, reinforcing the benefits of solidifying the relationship between our companies.”

Published in Global Cement News
Tagged under
  • GE Renewable Energy
  • Denmark
  • COBOD International
  • Acquisition
  • Stake
  • 3D printing
  • concrete
  • Supplier
  • GCW556
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