Displaying items by tag: Australia

Australia: Adbri reported 13% year-on-year growth in sales to US$1.25bn in 2023, up from US$1.1bn in 2022. The company's earnings before interest, taxation, depreciation and amortisation (EBITDA) also rose, by 5.2% to US$193m. The year marked the successful launch of its EcoCem and Futurecrete reduced-CO₂ cement and concrete ranges. At the end of the year, Adbri’s ongoing US$255 – 277m upgrade to its Kwinana grinding plant was 70% complete.

Deputy chair Samantha Hogg and CEO Mark Irwin said “In 2023 we took significant steps to refocus and reshape our organisation to support a more resilient Adbri and to invest in our future. Our focus on best‑in-class customer solutions and margin recovery has supported a strong full-year financial result.”

Australia: CRH has concluded a deal to acquire the remaining 57% of shares in Adbri not owned by Barro Group for US$1.4bn.

CRH CEO Albert Manifold said “We are pleased to reach this important milestone in the potential acquisition of Adbri in partnership with the Barro family. Adbri is an attractive business with high-quality assets and leading market positions that complement our core competencies in cement, concrete and aggregates, while creating additional opportunities for growth and development for our existing Australian business. We look forward to working with the Barro family over the coming years to enhance the long-term growth and performance of Adbri.”

Australia: Boral's Berrima cement plant team has successfully concluded its annual kiln shutdown and maintenance period. The producer invested US$13.1m and 100,000 working hours over a period of three weeks. The project required coordination with 50 different contracting companies to undertake mechanical repairs and replace the kiln refractory, which is crucial for protecting the kiln shell from heat damage and ensuring operational safety. Employing Cement 4.0 technology and advanced diagnostic tools, the team efficiently identified the necessary repairs. About 300 employees and contractors were engaged in the specialist tasks, facilitating a rapid resumption of kiln operations.

Australia: France-based Saint-Gobain has submitted a non-binding indicative offer of US$5.44bn for building materials producer and land banking entity CSR. CSR’s businesses include insulation producer Bradford, fibre cement systems producer Cemintel, wallboard producer Gyprock, autoclaved aerated concrete (AAC) block producer Hebel and roofing producer Monier. Together, CSR’s building materials units accounted for 72% of its sales in 2023.

Australia: Seven Group Holdings has offered US$1.24bn to acquire all outstanding shares of Boral. The conglomerate already holds 72% of shares in the building materials producer. Reuters has reported that this would correspond to a total valuation of US$4.35bn for the company.

Boral has undertaken restructuring since 2022, with a focus on Australian building and industrial products to capitalise on increased public sector investments, while divesting several international assets.

Vietnam: Financial management company SSI Securities Corporation says that it expects Vietnam’s cement consumption to ‘bottom out’ in the first quarter of 2024, before recovering ‘gradually’ throughout the rest of the year. Việt Nam News has reported that the anticipated recovery is the outcome of intensified investments in infrastructure by the Vietnamese government, beginning in late 2023. The cement sector also anticipates growing demand from export markets, including Australia, the US, Africa and South and Central America, as it lowers its reliance on exporting to China. Challenges persist in the form of protective measures or stricter standards in other markets, including the Philippines and Europe.

Austria/Australia: RHI Magnesita has signed a deal with Australia-based carbon capture company MCi Carbon for the construction of a large-scale carbon capture plant at its Hochfilzen dolomite plant in Tyrol, Austria. Prior to construction of the large-scale system in Austria, the companies will partner to test and scale-up MCi Carbon’s technology at the latter’s Myrtle demonstration plant in New South Wales, Australia. The Myrtle demonstration plant will aim to capture 1000t/yr of CO₂.

RHI Magnesita CEO Stefan Borgas said "The partnership with MCi Carbon is forward-looking and their technological approach is particularly interesting because it combines carbon capture storage and carbon utilisation. This is currently the most promising way for the refractory industry to reduce process emissions."

MCi Carbon CEO of Marcus Dawe said "This investment marks a pivotal moment for MCi Carbon and underscores the trust our partners place in our transformative technology. With RHI Magnesita's support, we are poised to accelerate our global commercialisation efforts and address the challenges faced by heavy industries in achieving decarbonisation."

Attending the World Economic Forum in Davos, Switzerland, the company’s chief operating officer Sophia Hamblin Wang said "We call on global leaders to move beyond rhetoric and embrace tangible actions, fostering a climate-conscious, prosperous future. MCi Carbon’s technology proves that it is possible to decarbonise and create profitable business models at the same time. The support of RHI Magnesita accelerates our impact, amplifies our voice and solidifies our position as leaders in carbon capture and utilisation."

Austria: Australia-based FCT Combustion has appointed Átila Soares as its Sales Manager for Europe and Africa. He will be based at the company’s office in Vienna. Soares previously worked for Aumund Group in Brazil in a variety of roles since 2005. The latest position was as a Sales Manager based in São Paulo. He also holds a degree in mechanical engineering from the Faculdade de Engenharia Industrial (FEI) in Brazil.

Japan: Sumitomo Osaka Cement, Sumitomo Corporation, JFE Steel, Kawasaki Kisen Kaisha and Woodside Energy have signed a memorandum of understanding (MOU) to jointly conduct a business feasibility study looking at setting up a CO₂ hub in the Setouchi and Shikoku regions. It will examine how CO₂ can be collected from different industries, transported to a hub port and then shipped to Australia for sequestration. A signing of the MOU was held at the ASEAN-Japan Economic Co-Creation Forum in the presence of Minister of Economy, Trade and Industry Ken Saito.

Sumitomo Osaka Cement operates two integrated plants in the Setouchi and Shikoku regions at Ako and Kochi respectively.

Australia: MarketLine News has reported that CRH has offered to pay US$737m to raise its stake in Adbri to 57% from 4.6%. The consideration forms part of a non-binding offer for the company by CRH and Barro Group, both minority shareholders in Adbri.