Displaying items by tag: GCW670

UK: A steel and cement co-recycling process developed at the University of Cambridge has received US$2.9m in seed funding. Cambridge Electric Cement is utilising slag produced during the steelmaking process, which uses electric arc furnaces instead of blast furnaces, as clinker for cement. The researchers are conducting a US$8.4m trial called Cement 2 Zero to test the production process, aiming to produce 110t of recycled cement during the two-year program.

Mexico: Cemex has reported its first-half results for 2024. Net income fell by 15% to US$230m, although earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 2% to US$965m. Sales remained flat at US$4.5bn. They rose in Mexico by 13%, to US$2.7bn, and in Central and South America and the Caribbean by 3%, to US$879m. However, they fell in the US by 2%, to US$2.6bn, and in Europe, the Middle East, Africa and Asia by 8%, to US$2.24bn.

Fernando Gonzalez, CEO of Cemex, said "These results demonstrate the effectiveness of our commercial management and growth strategy. The price contribution of our products continues to outpace our input cost inflation."

France: Vicat’s results for the first half of 2024 showed a turnover of €1.94bn, up by 1.3% compared to the same period in 2023. Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the period increased by 12% year-on-year. The group expects 3 – 8% growth in full-year EBITDA in 2024. Despite an unfavourable exchange rate effect, mainly due to the depreciation of the Turkish and Egyptian Pounds against the Euro, consolidated net income rose by 5% year-on-year to €115m.

UK: Breedon Group has announced its results for the six-month period ending on 30 June 2024. The company recorded revenues of US$984m, up by 3% year-on-year from US$956m in the same period in 2023. Net income was US$44m, representing a year-on-year decline of 28%. Earnings before interest, taxation, depreciation and amortisation (EBITDA) stood at US$133m, slightly less than US$134m reported previously.

Breedon Group anticipates growth in ‘all of its markets’ from 2025 as economic and political landscapes stabilise.

Zimbabwe: Khayah Cement plans to invest approximately US$25m in capital expenditure in 2024, focusing on a kiln refurbishment project at its plant in Harare. The investment aims to increase production capacity and sales volumes, NewsDay Business News has reported. Preparatory work has begun, with completion expected by the end of 2025.

Khayah Cement's CEO, Innocent Chikwata, said that the project will address issues with its current equipment and stabilise the company’s operations by ensuring a reliable supply of raw materials. He noted that the plant's current capacity utilisation rate is 60%, with a target of 70% by the end of 2024.

US: Peru-based Unacem recorded a rise in cement sales volumes in its US operations during the second quarter of 2024 to 324,000t, a 96% increase from the same period in 2023. It partly attributed the growth to the addition of the Tehachapi plant in California in August 2023, which contributed 159,000t during the reporting period, Noticias Financieras News has reported.

However, in the Peruvian market, Unacem reported cement sales volumes of 1.37Mt, down by 2.8% compared to the second quarter of 2023. 

Thailand: Siam Cement has reported its results for the first half of 2024. Sales stood at US$13.9bn, slightly down from US$14bn previously. Net income declined threefold to US$340m compared to US$1.36bn a year ago.

For the quarter ending 30 June 2024, the company recorded sales of US$3.5bn compared to US$3.45bn in June 2023, and a net income of US$102m compared to US$223m.

Argentina: InterCement, the Brazilian group owning Loma Negra, has extended an exclusivity period with Companhia Siderúrgica Nacional (CSN) until 12 August 2024 to finalise the sale of its assets. Despite no firm commitment to sell, this move sidelines local investor Marcelo Mindlin's bid.

InterCement said in a statement "There is no signed document that generates any firm obligation or commitment on its part, its shareholder, and/or its subsidiaries in connection with the potential transaction."

According to CE Noticias Financieras, InterCement is under financial strain with debts of US$1.6bn. It is continuing to negotiate with creditors and strategise asset divestments.

Saudi Arabia: Al Jouf Cement has entered an agreement with Italy-based Webuild to supply cement worth US$27.7m for various projects in the upcoming NEOM city. The contract spans 41 months from signing, with potential for increased quantities. Al Jouf Cement anticipates a profitable impact on its financial statements from the third quarter of 2024 until the contract's conclusion.

Spain: Cement consumption in Andalucía decreased by 7% in the first half of 2024 to 1.54Mt. In June 2024, consumption dropped 7.6% to 271,415t. This decline extends to exports of clinker and cement, which fell by 24% to 247,805t, as reported by the Andalusian Cement Manufacturers’ Association (AFCA).

Carmen Díaz, president of AFCA, said "The first half figures are negative due to a slowdown in planned infrastructure execution. Considering the daily consumption in June, having two fewer business days this year than in 2023, the monthly figure would be positive, indicating potential recovery in the construction sector in the second half of 2024."