Displaying items by tag: Invasion

Russia: Switzerland-based Holcim has announced its upcoming exit from the Russian cement market in line with its corporate value ‘to operate in the most responsible manner.’ The Global Cement Directory 2022 records a total of four Holcim cement plants in the country, commanding a capacity of 9.2Mt/yr.

Holcim’s board of directors thanked all employees currently mobilising to provide shelter, essential goods and medical supplies and other support to Ukrainians.

The group had previously suspended new capital investments into the market on 15 March 2022.

Italy: Buzzi Unicem’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 1.8% year-on-year in 2021 to Euro795m. Despite this, its net profit for the year declined by 3.2% year-on-year to Euro542m.

In 2022, Buzzi Unicem forecasts a 10% full-year EBITDA decline due to the impacts of the Russian invasion of Ukraine.

Spain: FYM-HeidelbergCement’s Málaga cement plant has temporarily ceased to produce clinker due to high electricity costs. The La Razón newspaper has reported that the effects of the Russian invasion of Ukraine have made clinker production economically unfeasible at the plant.