Global Cement News

Estonia: Competition authorities have opened additional proceedings into Schwenk Zement subsidiary Schwenk Eesti's deal to acquire a majority stake in Betoonimeister. The parties concluded their agreement in late September 2022.

Betoonimeister supplies ready-mix concrete across Estonia from six batching plants in Jõhvi, Pärnu, Tapa, Tallinn and Tartu. It employs a total of 90 people.

Nigeria: BUA Cement's nine-month 2022 results showed a 41% year-on-year rise to US$596m from US$424m in the same period of 2021. Meanwhile, its profit after tax grew to US$168m, up by 12% from US$150m. Throughout the period, BUA Cement's cost of sales rose by 43% to US$324m from US$226m.

Europe: Ireland-based Ecocem and seven other European sustainable technology companies have launched the Cleantech Scale-Up Coalition, with the backing of green investment funding network Breakthrough Energy. The coalition will work to contribute to European climate neutrality, energy autonomy and industrially competitiveness. Other participants' fields include carbon capture, green hydrogen technologies, transport electrification, batteries and recycling.

Ecocem's managing director Donal O’Riain said “Scalable, low carbon cements, which can decarbonise the European cement industry by 50% by 2030, are ready to deploy today. To do so, they need to be rapidly industrialised. This coalition, which allows Ecocem to combine forces with other world-class companies, will enable our ambition by working to remove the barriers to an accelerated decarbonisation of European, and global, industry.”

India: JK Cement has successfully inaugurated its new 2Mt/yr Hamirpur grinding plant in Uttar Pradesh's Kanpur District. The Indian Express newspaper has reported that the facility will produce grey cement.

Managing director Raghavpat Singhania said "The Hamirpur plant is a significant milestone. The commissioning of this plant has enabled a new growth engine for our grey cement business."

Malaysia: Borneo Oil has entered into a conditional share sale agreement with Makin Teguh's 45% owner Global 2332 to enlarge its stake in the cement company by 31%, to 60%. Borneo Oil has proposed a private placement to raise US$11.3m towards funding the US$21.2m deal. It previously completed a US$4.65m shares issue on 26 October 2022. Bernama Daily Malaysian News has reported that Makin Teguh plans to commence operations at its 220,000t/yr Sabah integrated cement and clinker plant in early 2023. It owns two limestone mines, with total reserves of 14.4Mt.