Displaying items by tag: Quinn Cement
Quinn Cement launches new cement range in Ireland
12 September 2018Ireland: Quinn Cement has launched a new range of bagged cement products in Ireland following its launch previously in the UK. The company invested over Euro3m in their cement plant to bring the new range to the market, which includes three new cement products: General Purpose Cement, Master Grade Cement and Premium Grade Cement.
General Purpose Cement is intended to be a versatile cement product, suitable for general use, particularly in smaller jobs and repairs. Master Grade Cement is targeted at plastering and mortar due to its workability. Premium Grade Cement is a high-strength product at 42.5N.
“We’re delighted to bring the new range to Ireland, particularly given the success we’ve seen in the British market, where bagged cement sales have seen a huge increase since the range was launched earlier this year. News of the Irish launch has been very well received by our merchant customers, and the demand to stock the new products here has been growing since they were unveiled for the British market. In particular, we expect the weatherproof bags to be very popular across Ireland, as they have been in Britain,” said Quinn Building Products’ Irish Sales and Marketing Director, Seamus McMahon.
Quinn Cement expands fleet with 14 trucks
26 July 2018Ireland/UK: Quinn Cement has expanded its fleet of trucks with 14 Mercedes mountain lorries. The lorries were delivered between July 2017 and May 2018. All 14 vehicles are now in use in Quinn’s Doon and Swanlinbar quarries, transporting rock to the Quinn Cement plant at Derrylin.
The receipt of the new lorries marks the latest phase of an on-going fleet replenishment programme. The new mountain lorries are more efficient than the vehicles they have replaced as they carry a bigger payload. All these trucks are rated to work at 50t gross weight giving them a payload of around 33t, depending on the body. Ten of the new lorries’ bodies were manufactured, fitted and painted by C-Tec Engineering of Magherafelt, Northern Ireland. The final four lorries which have recently arrived on site, have a body that was manufactured in Italy by Drago and transported in kit form to Ireland to be assembled, painted and fitted by Gleeson Steel & Engineering in Tipperary.
Breedon goes international
18 April 2018The rumours were confirmed yesterday when the UK’s Breedon Group announced its acquisition of Ireland’s Lagan Cement. The price was Euro527m, which Breedon will finance with a combination of a new loan, extended credit and an equity placing. The assets it will gain include a cement plant in Kinnegad, nine active quarries, 13 asphalt plants and nine ready-mixed concrete plants.
Breedon said that its strategy is to continue buying businesses in the heavyside construction materials market. At a stroke, once the deal completes on 20 April 2018, it becomes an international company. From the cement perspective it gains a new 0.7Mt/yr plant in central Ireland and a terminal in Belfast, UK. The UK Competition and Markets Authority (CMA) wasn’t mentioned in Breedon’s press release on the purchase but it seems unlikely that the competition body would have much to say on the transaction. Lagan Cement does hold ready-mix concrete (RMX) plants, aggregate and asphalt assets in Northern Ireland but these are far away from Breedon’s operations in mainland Britain. That said, the CMA did force Breedon to sell 14 RMX sites when it bought Hope Construction Materials in 2016. Generally speaking, Breedon’s enlargement reduces the diversity of the UK cement industry on the smaller end leaving only Quinn Cement, with operations on both sides of the border, as the country’s sole remaining single site clinker producer.
Aside from geographical expansion, becoming an international building materials company may offer Breedon Group some security from the UK’s exit from the European Union (EU) (so called Brexit). Breedon will join CRH as the only two cement producers with production facilities in both the UK and Ireland. The strategic significance of the position Breedon and CRH are in geographically may arise from whatever deal is reached between the EU and the UK and the significance of the UK’s only land border with the EU. LafargeHolcim is nearly in this club with its plants in England and Northern Ireland and plenty of the other local producers straddle the UK-EU border with terminals or production facilities elsewhere. Yet, in an uncertain Brexit negotiation, having kilns on both sides of the line might come in handy once (or if) the politicians make a decision.
Although, if Liam McCaffrey, the chief executive officer of Quinn Industrial Holding, is to be believed, then Brexit will have little impact at all other than (low) tariffs in a worst case scenario. He said to local press that although damage to the construction industry might arise in the UK from a prolonged recession, the UK’s housing shortage and reliance on imported building materials would probably see it through. That point about a possible financial downturn is important to Breedon Group, given the new debt it will be taking on to pay for acquisition. This is something that will be familiar to Breedon’s competitor Cemex. It is still paying off the debts from its acquisition of Rinker in 2007.
Breedon has decided to delay the release of its interim results from mid-July to September 2018 to allow time for the integration of Lagan into the group. Its sales and earnings may dwarf those from 2017 that it described as ‘one of the most productive years’ in its history. In the meantime congratulations are in order for Breedon Group for ensuring that the UK cement sector is never dull.
Quinn chief not worried by Brexit
12 April 2018Ireland: Liam McCaffrey, the chief executive officer of Quinn Industrial Holdings does not expect Brexit to slow growth. He said that the most damage could arise from a prolonged recession in the UK, although he though it was unlikely, as reported bythe Irish Times newspaper. He added that the UK has a housing shortage and it relies on imports for building materials. In his estimation the worst-case scenario would be a tariffs on building materials but these, if they happened at all, are expected to be low.
The building materials producer and owner of Quinn Building Products reported that its turnover grew by 7.4% year-on-year to Euro209m in 2017. Its earnings before interest, taxation, depreciation and amortisation (EBTIDA) increased by 31% to Euro23.9m.
“Despite the significant macro-economic challenges posed by Brexit, we continue to invest, grow sales, innovate and drive margin growth. Encouragingly, volume growth trends from 2017 are continuing year to date in 2018 and, at this point, we are firmly on track to deliver our fourth successive year of strong earnings growth,” said McCaffrey.
Quinn Cement to build Euro2.9m port facility at Warrenpoint
08 February 2017UK/Ireland: Quinn Cement is planning to build a Euro2.9m port facility at Warrenpoint Harbour in County Down in Northern Ireland, UK. The 7500t terminal will be operated over a 10-year period in conjunction with the Warrenpoint Harbour Authority, according to the Irish Independent. Final commissioning for the project was approved in late January 2017. The investment is intended to compliment the company’s update to its terminal in Rochester, Kent in England and to help the company ‘cope’ with the UK’s decision to leave the European Union.
Ireland: Quinn Cement and the Warrenpoint Harbour Authority (WHA) have signed contracts to build five cement silos at Warrenpoint Harbour with a total storage capacity of 7500t dedicated to the export of bulk cement from Quinn Cement to the UK market. The 10-year deal will see WHA invest Euro3.2m into the project. Work on the project is due to commence immediately, with completion expected in September 2016.
"This is a very significant development for the business, which will allow us to provide an even stronger service offering to our UK customers as well as creating additional local job-opportunities servicing the growing UK construction sector,” said Liam McCaffrey, CEO of Quinn Industrial Holdings Limited, the holding Company for Quinn Cement.
Quinn Cement is currently in the process of extending its storage and distribution centre at Crown Wharf in Rochester, UK where it is constructing two additional storage silos to bring its total capacity at Rochester to 7400t. Construction of that extension is due to be completed at the end of March 2016. Additionally, Quinn Cement is in discussions with regard to setting up a second import facility on the UK mainland.
Ireland: Quinn Cement Limited has been fined Euro2000 plus costs after the company pleaded guilty to failing to control dust emissions from its plant in Ballyconnell, County Cavan.
Reports of at least three houses and cars in the nearby area being coated in a film of cement dust were made to the Environmental Protection Agency (EPA) after a filter bag failed at the plant on 5 – 8 September 2014. An inspector from the EPA subsequently visited the area and took statements from complainants, including an asthmatic who had raised fears in relation to the health impact the dust might have.
At Cavan District Court on 21 May 2015, the court heard how the plant was shut down while the fault was found and rectified. A number of fail-safes have since been employed at the Ballyconnell plant safeguarding against such an occurrence arising again. Judge McLoughlin convicted and fined Quinn Cement Euro2000 on one count of failure to control dust associated with activity, which resulted in an impairment of or an interference to amenities or the environment beyond the installation boundary, subject to licence. A second count was struck out on the agreement that the company also pay costs incurred by the EPA in carrying out its investigation of Euro5570.
Aventas Group to spend Euro16m on Quinn Cement plant in Cavan
16 January 2014UK: Aventas Group (formerly part of Quinn Group of companies) is to invest Euro16m in its Quinn Cement plant in Cavan.
Aventas said that it has appointed contractors PJ Carey to convert the landmark cement plant, near Ballyconnell, to use solid recovered fuel, primarily cardboard, textiles and plastics. The fuel will replace more expensive South African coal and according to plant manager Barry King will reduce carbon emissions by 20%. 100 construction jobs will be created in the conversion. The investment is part of an overall spend of Euro30m - 50m which Aventas plans to make in upgrading and maintaining the plant over the next five years.
Aventas said confidence in the future of the plant has risen following the performance of the construction industry supplies division of the group. It recently opened a depot in Rochester from where it is hoping to triple its penetration of the British cement market. Aventas Group chief executive Paul O'Brien said the British market currently consumes about 10Mt/yr of cement, with Quinn Cement due to capture about 1% or Euro9.6m of that in 2014. The company hopes to triple its UK turnover in coming years.
Lagan and Quinn drop joint venture plans
15 February 2013Ireland/UK: Lagan Cement and Quinn Building Products have dropped plans to form a joint venture (JV).
"Discussions have now concluded and both companies have decided not to progress further with the proposed joint venture," the companies said in a statement.
The two companies signed a Memorandum of Understanding December 2012 to explore the possibility of a JV between their cement and building products businesses based in Ballyconnell, Derrylin, Kinnegad, Belfast, Cork and Benelux. At the time, Quinn Manufacturing Group chief executive Paul O'Brien and his opposite number, Jude Lagan, said that the idea was to create a 'sustainable' independent Irish cement producer.
The decision follows the receipt of a package containing a bullet which was sent in the post to the Lagan's chief executive, Kevin Lagan. The bullet, which was sent to Lagan at his Belfast office, was accompanied by a message stating, "Quinn ... is this what you want".
"This is clearly an attempt to intimidate myself and the Lagan Group at a time when we are engaged in discussions with Quinn on combining our cement and building products businesses," said Lagan in a statement released on 14 February 2013.
Merger threat to Lagan boss
31 January 2013Ireland/UK: The Irish Times has reported that a rifle bullet was sent to the chief executive of the Ireland-based Lagan Group, Kevin Lagan, during the third week of January 2013 in what is thought to be a direct threat linked to Lagan's proposed merger with part of the Quinn Group, which is based in Northern Ireland in the UK.
The rifle bullet was contained within a cigar box, which had, 'Quinn...is this what you want?' written on it. It had apparently been sent from Northern Ireland.
Lagan said he was 'totally amazed' by the package. He said the group's proposed merger with Quinn Building Products posed no threat to jobs. "In fact it secures the future of both Quinn and ourselves going forward," he said. "This is clearly an attempt to intimidate myself and the Lagan Group at a time when we are engaged in discussions with Quinn on combining our cement and building products businesses."
Lagan said that the person or persons behind the 'crude intimidatory tactic' were obviously not interested in protecting jobs. "We will not be swayed from our determination to complete our discussions successfully," he added.
Seán Quinn lost control of the Quinn Group in April 2011 when a receiver was appointed by the former Anglo Irish Bank. There have since been a number of incidents believed to have been carried out by people angry about what has happened.