Displaying items by tag: GCW444

Kuwait: Kuwait Portland Cement has reported that its fourth quarter profit for 2019 fell by 44% to US$4.57m from US$8.15m in the fourth quarter of 2018. Its fourth quarter operating revenue in 2019 was US$76.3m, down by 36% from US$119m a year earlier.

Turkey: Turkey exported a total of 23Mt of cement and clinker in 2019, a year-on-year increase of 68%, according to Dr Tamer Saka, the Chairman of the Board of Directors of the Turkish Cement Manufacturers’ Association (TÇMB). The value of the country’s cement and clinker exports was US$877m, a 44% increase. The discrepancy between volume and value growth rates indicates that Turkish exporters are sold at lower prices in 2019 than in 2018 on average. The nation’s cement is transported to more than 100 countries in 2019, with the most important recipients listed as the US, Israel, Ghana and Ivory Coast.”

Speaking upon the occasion of TÇMB’s General Assembly meeting on 17 February 2020, at which he was re-elected as Chairman, Dr Saka said, “In January 2020, cement exports increased by 81% to reach 1.1Mt and clinker exports grew by 29% to reach 1.3Mt. Our forecast is that the Turkish cement sector will grow by approximately 2% in domestic sales and 15% in exports this year.”

In the Board of Directors of Turkish Cement Manufacturers’ Association (TÇMB) where Dr. Tamer Saka acts as the Chairman of the Board, Adil Sani Konukoğlu became the Deputy Chairman and Nihat Özdemir, Ali Pastonoğlu, Gökhan Bozkurt, and Fatih Yücelik were appointed as Vice Chairmen.

Mexico: Cemex has announced a new Climate Action strategy, which outlines the company’s vision to advance towards a carbon-neutral economy and to address society’s increasing demands more efficiently. The company states that it believes climate change to be one of the biggest challenges of our time and support collective action.

It says that it has already reduced its net specific CO2 emissions by more than 22% compared to its 1990 baseline. It has now defined a more ambitious target of a 35% reduction of net specific CO2 emissions by 2030. This new goal is aligned with the Science-Based Targets methodology, a requirement that is necessary to meet the goals of the Paris Agreement. To complement this strategy with a longer-term vision, Cemex is also establishing a new ambition to deliver net-zero CO2 concrete by 2050.

“Climate change has been a priority for Cemex for many years,” said Fernando A Gonzalez, Cemex CEO. “Our efforts have brought significant progress to date, but we must do more. This is why we have defined a more ambitious strategy to reduce CO2 emissions by 2030 and to deliver net-zero CO2 concrete by 2050.”

To fulfil this strategy, Cemex has a laid out a CO2 roadmap to accelerate the roll-out of proven technologies across its facilities, including investing in energy efficiency, using alternative fuels, expanding the use of renewable energy, and increasing the substitution of clinker with alternative cementitious materials. It says its aim of net-zero CO2 concrete will require open innovation that requires strategic partnerships and cross-industry collaboration in the development of breakthrough technologies like CO2 capture, storage and utilisation, novel clinkers with low heat consumption, alternative decarbonated raw materials, carbonation of concrete waste for use as recycled aggregates, and the promotion of circular economy models that transform waste into fuel.

Vietnam: A Memorandum of Understanding (MoU) to build public private collaborations towards a circular economy for plastic waste management was signed in Hanoi on 19 February 2020. The agreement, the first of its kind in Vietnam, was signed by the Ministry of Natural Resources and Environment, Dow Chemical Company Vietnam, Siam Cement Group (SCG), and Unilever Vietnam International.

Deputy Minister of Natural Resources and Environment Vo Tuan Nhan said the average use of plastic per capita in Vietnam is not as high as that of developed countries in the world. However, with a population of nearly 100 million and an incomplete solid waste management infrastructure, plastic waste has been a big challenge for developing countries like Vietnam. It is likely that SCG will act as an off-taker of non-recyclable plastic residues, burning them as an alternative for fossil fuels in its cement kilns.

Australia: Boral has seen a 40% decrease in its profit during the first half of its fiscal year a period that ended on 31 December 2019. Its profit fell to US$90.4m for the period from US$151m a year earlier. Boral said that this was due to higher costs and weak housing activity in Australia and South Korea. It was also affected by the costs of transactions between its USG-Boral joint-venture partner USG and Knauf, which bought USG in 2019, along with its interest in USG-Boral.