Displaying items by tag: GCW518

Australia: James Hardie has raised its full-year earnings forecast for the 2022 financial year to US$550-590m from US$520-570m. The decision follows a year-on-year increase in consolidated sales of 35%, to US$843m from US$624m.

Thailand: Siam Cement Group (SCG) plans to raise US$747m through the issuance of fixed-rate debentures. Dow Jones Institutional News has reported that SCG will pay a 2.7% coupon on the debentures, which will be due in 2025. The group will use the proceeds to replace existing debentures when they expire in October 2021.

Peru: The Directorate for Research and Promotion of Free Competition (DLC) of the Peruvian National Institute for the Defence of Competition and Protection of Intellectual Property (INDECOPI) has launched administrative proceedings against Gloria Group subsidiary Yura. The El Comercio newspaper has reported that nine Yura employees face allegations of participating in, planning and executing anti-competitive conduct. Logistics partner Racionalización Empresarial is also subject to the investigation.

Germany: Australia-based FCT Combustion has delivered a Turbu-Flex burner to HeidelbergCement’s Burglengenfeld, Bavaria, cement plant. The joint aims of the project are to improve combustion control and to increase the alternative fuel (AF) substitution rate in the plant’s kiln lines. The equipment is scheduled for commissioning in early 2022.

India: Orient Cement plans to invest US$215m to increase the production capacity of its 7.5Mt/yr Devapur, Telangana, cement plant to 11.5Mt/yr, according to the Hindustan Times newspaper. The company previously expanded the plant’s capacity from 3.0Mt/yr at a cost of US$290m in 2019.

India: The board of directors of Prism Johnson will consider a proposal to raise funds through issue of secured or unsecured, rated, listed, redeemable, taxable non-convertible debentures (NCDs) on 13 August 2021. Any such issue will take place on a private placement basis.

UK: The Mineral Products Association (MPA) recorded a 1.2% quarter-on-quarter decline in the UK’s total concrete sales volumes in the second quarter of 2021. Volumes rose compared to 2020 levels, but remained lower than those in the second quarter of 2019. Mortar sales volumes recorded a 21% quarter-on-quarter rise, the sharpest since 2012. The association says that this signals the start of new housebuilding activity, as well as a ‘renewed pipeline of works’ in other sectors. It said that it expects demand for core construction materials to remain high for the remainder of 2021, into 2022, with the current construction outlook expected to drive double-digit growth in mineral products sales for the full year of 2021. The MPA anticipates the strongest contribution to come from infrastructure.

Director of Economic Affairs Aurelie Delannoy said “The surge in pent-up demand for materials in recent months, plus declining availability of haulage drivers as well as increasing costs, are causing concerns over future supply capacity, although every effort is being made to mitigate these. Despite challenging circumstances, companies supplying mineral products have on the whole continued to meet the demands, delivering record volumes along the way.”

World: Cemex has launched the conversion of its European, Middle Eastern and African (EMEA) fleet of company cars and vans to hybrid and electric versions. The measure forms part of its Future in Action strategy towards achieving net zero CO₂ emissions.

Supply chain and procurement vice president Graham Russell said “As we accelerate our journey to net zero CO₂, we are committed to addressing all aspects of our CO₂ emissions.” He added “Advances in technology enable us to move efficiently to a cleaner fleet with lower carbon solutions from today.”

UK: An installation consisting of reduced-CO₂ walls made with cement-free materials has won the Royal Horticultural Society’s People’s Choice Award, the Silver judge’s award and a Young Gardener of the Year nomination at the Tatton Park Flower Show in Cheshire. DB Group subsidiary Cemfree supplied its cement-free mortar for the garden’s structure, while PPG subsidiary CCP supplied its cement-free Greenbloc concrete blocks. The installation is the first time both materials have been used in combination.

Commercial manager Adam Gittins said “Finding ways to help the construction industry tackle CO₂ emissions is an important challenge.” He added “Highly visible community projects like this are helping get the word out about climate change.”

Jamaica: Cemex plans to upgrade its integrated Rockfort plant. The project will increase the unit’s production capacity by around 0.3Mt/yr. At present it has a capacity of 2Mt/yr. The expansion will introduce new grinding additives to the manufacturing process and further enhance the production of low clinker products in the region. The upgrade is planned for the second half of 2022. Cemex operates locally through its subsidiary, Caribbean Cement.

"At Caribbean Cement Company, we reiterate our commitment to the sustainable development of Jamaica's economy. With this investment, we will create jobs and promote the local industry in the country while minimising our carbon footprint," said Jesus Gonzalez, president of Cemex South, Central America and the Caribbean.