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Breedon Group acquires Severn Sands 02 August 2022
UK: Breedon Group has acquired marine aggregates producer Severn Sands. With sales revenues of Euro10.5m in 2021, Severn Sands holds multiple dredging licences for operations in the Bristol Channel.
Breedon Group said that the acquisition ‘enhances our operational capability, secures scarce mineral reserves and resources, and ensures our downstream operations in the Gloucestershire and South Wales region are fully vertically integrated.’
US: Calucem, part of Cementos Molins, plans to establish a new calcium aluminate cement plant in New Orleans, Louisiana. The company will invest US$35m in the project and expects to commission the plant in mid-late 2023. It expects to create 70 new direct jobs and a total of 228 new jobs locally.
Calucem president and chief executive officer Yuri Bouwhuis said “Calucem is taking on a new investment that will support our growth and diversification in the US and ensure that we continue to offer high-value products to our global customers. Our choice of Louisiana for our first all-new manufacturing project in the US is due to the availability of strategic raw materials such as limestone and natural gas, access to waterways and skilled labour and the long history of using speciality cement products in the US.”
China: Hainan Ruize New Building Material has agreed to sell an 85% stake in its cement subsidiary Zhaoqing Jingang Cement to China Resources Cement. Reuters News has reported the value of the deal as US$80.1m.
China: Anhui Conch Cement and Xinjiang Tianshan Cement plan to launch a joint venture. Reuters News has reported that the companies will inject the joint venture with registered capital of US$297m.
Spain: Cementos Molins increased its first-half 2022 consolidated sales by 35% year-on-year to Euro608m and its earnings before interest, taxation, depreciation and amortisation (EBITDA) by 4% to Euro132m. The group said that its implementation of operational efficiency plans successfully offset cost inflation. Its net profit was Euro57m, in line with that in the first half of 2021.
Chief executive officer Julio Rodríguez said "Despite the markets growth slowdown and the uncertain global context, at Cementos Molins we continue to move confidently towards achieving the objectives of our strategic plan 2020-2023.”