Displaying items by tag: GCW505
North Korea: The North Korea government says that it will supply 10,000t/yr of cement to every city and county in the country. The new target will help to fulfil the aims of the January 2021 Five Year Plan, under which the state aims to build 10,000 apartments/year in Pyongyang and 5000 apartments/year in Komdok. The 38 North project has reported that in order to realise this vision, it plans to establish 8.0Mt/yr of new capacity via upgrades and new projects by January 2026.
In March 2021 a North Korean delegation visited a Chinese cement plant to learn about modern cement production.
Police investigate Cimento Nassau ownership
07 May 2021Brazil: Federal police in Pernambuco have launched an investigation into the alleged involvement of organised crime in João Santos Group, the owner of Cimento Nassau. 53 search warrants have been issued in four Brazilian states with the involvement of over 240 police officers, according to the Valor Econômico newspaper. The police are looking into allegations of asset diversions and tax evasion up to a value of around US$1.6bn.
Italy: Taiwan-based Taiwan cement has agreed to acquire Engie’s 60% stake in battery and hydrogen power systems supplier Engie EPS. The aggregate value of the deal is Euro132m. The producer expects to close the deal in mid-late 2021, whereupon it will launch an all-cash mandatory tender offer for the company’s remaining shares. Taiwan Cement said that the transaction would provide the cornerstone for its strategic global blueprint in the future.
YTL Corporation sells Dama Cement
06 May 2021China: Malaysia-based YTL Corporation has has sold its 100% stake in Zhejiang Hangzhou Dama Cement. The company acquired the producer in 2007. It operates a cement plant located in the Lin’an district of Zhejiang Province. Executive chair Francis Yeoh said that it chose the time to sell based on the high current valuation of the subsidiary.
Managing director Datuk Seri Michael Yeoh Sock Siong said that the disposal was aligned with the group’s focus on becoming a regional cement industry leader in Southeast Asia. He said "Dama was our first substantial foray into China’s cement industry. The vital insight and knowledge that we have gained will be used in our plans to expand our operations within Southeast Asia."
Germany: HeidelbergCement’s consolidated net sales rose by 1% year-on-year to Euro3.96bn in the first quarter of 2021. Its result from current operations before depreciation and amortisation (RCOBD) rose by 33% to Euro538m from Euro405m in the same period in 2020. Group cement and clinker sales volumes rose by 2% to 28.4Mt from 27.7Mt. Cement volumes rose by 11% in Western and Southern Europe to 6.8Mt from 6.1Mt, by 5% in Asia-Pacific to 8.8Mt from 8.4Mt and by 1% in Africa-Eastern Mediterranean Basin to 5.2Mt. Volumes fell by 5% in North America and by 4% in Northern and Eastern Europe-Central Asia to 3.1Mt and 4.4Mt respectively.
Dominik von Achten said, “HeidelbergCement has made an excellent start to 2021. In all group areas, we have once again been able to significantly increase our results and margins compared with an already strong first quarter in 2020. This is a seamless continuation of our very good development in recent quarters.”
Vietnam: Siam City Cement subsidiary Insee Vietnam has ordered an Autopac 3000 truck loading system from Germany-based Beumer. The supplier said that the fully automated system palletises and loads cement at a rate of 3000 bags/hr.
Chief executive officer Philippe Richart said, “As we are continually implementing a fully automated dispatch process in Insee Vietnam, we will continue to look to invest in new technologies that Beumer are providing in this area.”
India: Nirma Group subsidiary Nuvoco Vistas plans to launch a US$677m initial public offering (IPO). The Economic Times newspaper has reported that the IPO consists of a US$190m – US$203m fresh issue and a US$474m offer for sale. The company’s targeted valuation after listing is US$4.74bn, in line with the value of Switzerland-based LafargeHolcim subsidiary ACC.
Nuvoco Vistas first acquired its cement assets from Lafarge India in 2017.
Carbon Clean partners with BayoTech for carbon capture and storage from hydrogen production
06 May 2021North America: UK-based Carbon Clean has signed a memorandum of understanding with US-based onsite hydrogen provider BayoTech. Under the agreement, the carbon capture and storage (CCS) specialist will install a CCS system at a BayoTech hydrogen plant in North America, which is expected to be operational by the end of 2022.
The two companies have agreed on a roadmap for the technology integration of a carbon capture process on their hydrogen generating units. The demonstration facility will include a BayoTech H2-1000 generating unit and Carbon Clean’s carbon capture technology. This partnership is intended to enable process optimisation to decrease the cost for small scale hydrogen and CO2 production.
Carbon Clean was announced in April 2021 as the technology provider for a CO2 capture demonstration project by Taiheiyo Cement in Japan. It is also working on projects with Cemex USA and LafargeHolcim España.