Displaying items by tag: US

US: The Texas Commission on Environmental Quality (CEQ) has granted permission to Lhoist North America for the installation of a new vertical kiln at its New Braunfels, Texas plant. The company says that the kiln will form the basis for a plant expansion to meet the growing lime demand of the construction and steel sectors.

Lhoist North America chief executive officer (CEO) and president Ron Thompson said, "We are proud that this investment at New Braunfels aligns with our company's commitment to environmentally sustainable growth."

Switzerland/US: LafargeHolcim has announced the extension of its partnership with Solidia Technologies to mid-2020. Cash News has reported that the partnership, which has seen a 30% reduction in LafargeHolcim’s overall CO₂ emissions since its formation in mid-2013, aims to achieve a 70% reduction in the producer’s carbon footprint.

US: David Mariner plans to step down as president and chief executive officer (CEO) of Boral North America at the end of May 2020. He then plans to leave Boral altogether at the end of June 2020 following a decade with the company. Darren Schulz, currently the president of Boral Roofing North America, will become the acting president and CEO until a successor is appointed. The final decision on a permanent head for Boral North America will be made by Boral’s new CEO and managing director. However, the board of Boral is also looking for a new CEO, following Mike Kane decision to retire earlier in 2020.

US: The Portland Cement Association (PCA) has announced the winners of its Chairman’s Safety Performance Award for outstanding safety performance in Portland cement production in the US.

The winners were: Cemex USA’s Clinchfield, Georgia and Victorville, California plants; Lehigh Hanson’s Cupertino, California and Tehachapi, California plants; Titan America’s Medley, Florida and Troutville, Virginia plants; LafargeHolcim’s Morgan, Utah and Theodore, Alabama plants; Buzzi Unicem’s Chattanooga, Tennessee plant; GCC of America’s Pueblo, Colorado plant; and Argos USA’s Atlanta, Georgia grinding plant.

PCA chair Tom Beck said, “We’re proud to highlight these top safety performers. Our industry is constantly focused on doing everything possible to assure our employees go home in the same condition as they arrived.”

US: Boral North America has fully or partly suspended operations at four plants and made more than 1700 of its 6900 employees redundant. The Financial Review newspaper has reported that Boral North America chief executive officer (CEO) David Mariner will resign at the end of May 2020.

Australia-based Boral predicted a 3 - 5% year-on-year decrease in net profit in the first half of 2020. Boral chief financial officer (CFO) Ros Ng said, “Boral had US$839m of cash and undrawn liquidity at the end of April 2020.” The group announced a reshuffle of its debt facilities on 15 May 2020.

US: Lhoist North America has received permit approval from the Texas Commission on Environmental Quality to build a new lime kiln at its Marble Falls plant. The new vertical kiln, which is expected to be operational in 2021, is primarily driven by growing demand for Lhoist's dolomitic lime products for the steel industry. The upgrade is also expected to create new jobs at the site.

"This project at Marble Falls aligns with our company's commitment to environmentally sustainable growth," said Ron Thompson, president and chief executive officer (CEO) of Lhoist North America. The building materials company added that, despite the impacts of coronavirus on the economy, it is investing to create jobs and meet critical supply chain demands, like steel production, which support future infrastructure growth in North America.

US: Grupo Cementos de Chihuahua’s (GCC) Rapid City plant in South Dakota is working with Black Hills Energy to use wind power for around 50% of its electricity requirements. GCC has joined Black Hills Energy’s Renewable Ready Program, which will supply energy for 15 years.

Black Hills Energy will build a wind-power generating facility in 2020 to supply the plant located near Cheyenne in Wyoming. The Corriedale Wind Energy Project is anticipated to produce energy by the first quarter of 2021 that will be shared with subscribers in South Dakota and Wyoming. The program was designed for large commercial and industrial customers and governmental agencies in the company’s electric service territories in South Dakota and Wyoming.

“By choosing low-cost renewable energy resources to power our business, we’re able to advance our business goals and sustainability objectives while also supporting the expansion of affordable, renewable energy development in the region,” said Ron Henley, US division president of GCC.

US: Switzerland-based LafargeHolcim has named the eight recipients of its 38th annual Gygi and von Wyss Foundation Scholarship. LafargeHolcim subsidiary US Cement CEO Jamie Gentoso said, “It’s essential to invest in the education of the next generation and, with the rising costs of higher education, scholarships are more important than ever to help reduce the impact and assist in these students’ success.” Under the scholarship scheme, children of LafargeHolcim employees in the US can receive US$6000 towards higher education for a year and again for three subsequent years subject to academic performance.

LafargeHolcim’s first quarter results last week bore all the signs of a prizefighter on the receiving end of a punch. It’s taking pain now but it’s likely to be temporary. A volley of market disruption caused by coronavirus-related government lockdowns can be seen wreaking havoc steadily across its different geographical reporting areas. Asia Pacific region has been most affected so far, followed by its Middle East Africa, Europe, South America and North America regions. That last one didn’t show any top-line financial effects from health control measures, although they are surely coming. The worst is yet to come as chief executive officer (CEO) Jan Jenisch said, “The biggest impact from Covid-19 is expected in Q2. The full impact of the crisis on the company’s 2020 results cannot be assessed at this point.”

Depending on how easing the lockdowns plays out, LafargeHocim’s multinational nature may cushion it from the worst effects. Despite the group’s cement sales volumes falling in the first quarter in most regions on a like-for-like basis, it performed strongly in North America with an 8% rise year-on-year to 3.6Mt. Aggregate and concrete volumes were also up, as well as net sales and earnings before interest, taxation, depreciation and amortisation (EBITDA). Sadly, this is about to change. Most of Europe brought in its lockdown measures in early to mid-March but the US enacted its own lockdown later. The group was quick to point out that it had found the April 2020 data on the rebound of activity in China ‘encouraging.’ If this is the pattern for all regions and second waves are suppressed without resorting to more lockdowns then the group’s wide geographical presence may help it.

As discussed a few weeks ago the major multinational building materials producer is actually in a better position for the unexpected given its success in reducing its debt levels in recent years, notably following divestments in South-East Asia in 2018 and 2019As discussed a few weeks ago the major multinational building materials producer is actually in a better position for the unexpected given its success in reducing its debt levels in recent years, notably following divestments in South-East Asia in 2018 and 2019. Naturally, it was keen to point this out in its press release with talk of its net financial debt to recurring EBITDA of 1.5x as at the end 2019, liquidity of Euro7.5bn in cash and credit lines and a Baa2/outlook stable credit rating from Moody’s in late April 2020. That sense of confidence was later reinforced with, “The building industry is resilient and expected to benefit from future recovery plans from governments and central banks.” This last point is important given that most economic recovery plans tend to involve building things.

HeidelbergCement’s financial results for the first quarter of 2020 are due out on 7 May 2020. Once these come in, some sort of comparison between the larger multinational cement producers, including Cemex and CRH, will be possible. However, the different geographical footprint of each of these companies will hinder this kind of analysis given the progressive way the coronavirus outbreak has spread. In the meantime check out Global Cement Magazine’s feature on the North American cement market (written before the lockdowns) and be sure to register for Global Cement Live this week, which includes an update on the US from consultant John Kline.

Australia/New Zealand/US: Ireland-based James Hardie has announced the planned closure of three of its fibre cement board plants. The Cooroy, Queensland plant in Australia, Summerville, South Carolina plant in the US and Penrose, Auckland plant in New Zealand will close permanently in mid-2020, resulting in a total of 375 job cuts. The NZ Herald newspaper has reported that the decision to shut the plants came about due to the impacts of the coronavirus outbreak on the global economic situation. James Hardie will now supply the New Zealand market from its Carole Park, Queensland and Rosehill, New South Wales plants. James Hardie also closed its Siglingen, Baden-Württemberg plant in Germany on a temporary basis, ‘in order to better match supply and demand in the European market.’

James Hardie revised its 2020 profit forecast to US$355m, down by 4.1% from US$370m.