Displaying items by tag: fibre cement
HIL to acquire Fast Build Block
01 August 2022India: CK Birla Group’s fibre cement roofing subsidiary HIL has agreed to acquire Fast Build Blocks for US$8.22m in a ‘slump sale.’ Fast Build Blocks produces autoclaved aerated concrete (AAC) blocks in Cuttack, Odisha. Press Trust of India News has reported that HIL is using the acquisition to establish a leadership position in the Eastern Indian market.
Swisspearl Group to acquire Cembrit
21 June 2022Denmark: Swisspearl Group has concluded an agreement to acquire fellow fibre cement board producer Cembrit. The Switzerland-based group said that it is creating the second-largest supplier of fibre cement products in Europe.
Australia: James Hardie Industries says that it has acquired land in Melbourne, Victoria, on which it plans to establish a fibre cement board plant.
Interim CEO Harold Wiens said "Adding a manufacturing site in the State of Victoria enables James Hardie to continue to meet the strong demand for our high-value building solutions in the Asia Pacific region. As we continue our strategic focus on marketing directly to the homeowner and commercialising market-led innovations, this site will help us not only meet this demand but enable the manufacturing of new innovations and existing high-value products."
Russia: Chrysotile producer Uralasbestcement has acquired a 54% stake in Belgorodasbestcement via its subsidiary Asbotsemizdelie. Belgorodasbestcement produces chrysotile or white asbestos cement products for domestic sale and export, according to the AK&M Information Agency.
Australia: James Hardie’s consolidated net sales increased by 12% year-on-year in the 2021 financial year to US$2.91bn from US$2.61bn in the 2020 financial year. Its adjusted earnings before interest, depreciation and taxation (EBIT) rose by 29% US$629m from US$487m. The producer recorded increased fibre cement sales in North America, by 12% to US$2.04bn from US$1.82bn, and in Asia Pacific, by 3% to US$496m from US$479m. The group’s Europe building products division’s sales rose by 5% to US$273m from US$261m.
Chief executive Jack Truong said, “I am proud of our globally integrated team’s ability to close out the fiscal year with a fourth quarter of exceptionally strong results. We have now delivered eight consecutive quarters of consistent profitable growth, including record financial results each of the past three quarters. Our performance in fiscal year 2021 marked a significant step change across multiple facets of our global company that allowed us to deliver this consistent profitable growth on an expanding global scale. Over the past 12 months, we were able to accelerate our strategy: firstly to unlock capacity and increase efficiency in our global manufacturing network through LEAN initiatives, and secondly to better integrate our supply chain with our customers, which collectively drove consistent market share gains in all three regions.”
Australia: James Hardie recorded net sales of US$2.10bn in the first nine months of its 2021 financial year, up by 9% year-on-year from US$1.93bn in the first nine months of its 2020 financial year. Adjusted earnings before interest and taxation rose by 25% to US$456m from US$366m. Sales and earnings increased in all three regions in which the company operates. In Australia and New Zealand, it reduced costs by consolidating fibre cement production at its two Australian plants.
Chief executive officer Jack Truong said, “I am pleased with these record results, underpinned by excellent execution of our business transformation that we began in 2019, combined with increasing demand for our premium-quality James Hardie brand products and solutions. The transformation we undertook to unlock capacity and increase efficiency in our global manufacturing network through lean initiatives and to better integrate our supply chain with our customers continues to deliver consistent market share gains and the ability to serve our customers seamlessly around the world. We are firmly on track with our investments in growth to broaden our portfolio with industry-leading innovations that enhance aesthetic value for homeowners. Our transformation initiatives will enable us to expand our market opportunity and allow us to continue to deliver strong performance.”
Tim Kuebler appointed as head of Elementia USA
29 July 2020US: Mexico-based Elementia has appointed Tim Kuebler as the leader of Elementia USA. He was already the chief executive officer (CEO) of the company’s cement business in the US and the enlarged role includes responsibility for Allura, the group’s local fibre cement business. Kuebler became the CEO of Elementia’s US-based cement business, Giant Cement, in late 2017. Prior to this he spent most of his 35-year career working at first for Lehigh Cement and then Titan America in locations across the US.
James Hardie revises fourth quarter guidance
23 June 2020Australia: James Hardie has revised its guidance for the quarter ending 30 June 2020, the fourth quarter of the Australian fiscal year 2020, following “improved housing market activity, particularly in North America.” Australian Associated Press – Financial News has reported that James Hardie has revised its North American fibre cement boards volumes growth estimate to 1% year-on-year from a 3% drop previously. It expects Australian volumes to remain constant year-on-year, as previously predicted, and European volumes in the quarter to fall by 13%, rather than by 16%.
Australia/New Zealand/US: Ireland-based James Hardie has announced the planned closure of three of its fibre cement board plants. The Cooroy, Queensland plant in Australia, Summerville, South Carolina plant in the US and Penrose, Auckland plant in New Zealand will close permanently in mid-2020, resulting in a total of 375 job cuts. The NZ Herald newspaper has reported that the decision to shut the plants came about due to the impacts of the coronavirus outbreak on the global economic situation. James Hardie will now supply the New Zealand market from its Carole Park, Queensland and Rosehill, New South Wales plants. James Hardie also closed its Siglingen, Baden-Württemberg plant in Germany on a temporary basis, ‘in order to better match supply and demand in the European market.’
James Hardie revised its 2020 profit forecast to US$355m, down by 4.1% from US$370m.
FabCom unveils new fibre cement board
16 December 2019Nigeria: Chinese-owned FabCom has unveiled a new fibre cement board at a ceremony celebrating the fifth anniversary of its presence in Nigeria. The Sun has reported that the company will manufacture 5Mm2/yr at its fibre cement board plant in Ambuja, which will be operational before 1 January 2021. FabCom managing director Liuxing Wang praised the product’s environmental friendliness, noting its durability, sound insulation, fire and water resistance and multi-use workability. FabCom’s investments in Nigeria total US$190m and have created 200,000 jobs, the company says.