Displaying items by tag: agreement

US: Cemex and Clean Energy Fuels have entered into a fuelling agreement to supply renewable natural gas (RNG) to 39 of Cemex US’s ready-mix and cement bulk trucks in Southern California. The agreement is projected to provide around 1.1Ml/yr of RNG. Cemex plans to complete the project by the end of 2024 and start fuelling the trucks on-site soon after.

Francisco Rivera, Cemex US Regional President West Region, said "As leaders in the building materials industry, we recognise the pivotal role we play in building a more sustainable future. Embracing renewable fuels isn't just an option; it's an imperative.”

Indonesia: PT Kobexindo Cement has entered an agreement to construct a new cement plant in South Aceh, despite a national moratorium on such developments. The project, under China-based Hongshi Holding Group subsidiary Zhejiang Hongshi Cement, plans a US$621m investment for a facility with a 6Mt/yr capacity, according to the Jakarta Post.

The Indonesian central government's moratorium, aimed at curbing oversupply in the cement market, prohibits new cement plants except in specified eastern regions. This edict arose as national cement production significantly exceeded demand, according to the Indonesia Cement Association (ASI).

ASI president Lilik Unggul Raharjo said that the move by South Aceh regency not only violated the ban but also threatened the viability of three state-owned cement companies in Sumatra. Raharjo said "These companies are guaranteed to go out of business. The Industry Ministry will conduct a technical verification of foreign direct investment in the cement industry before the permit is issued.”

US: Cemex has entered an off-site renewable energy agreement for its Clinchfield Cement Plant with Georgia Power, securing about 25% of its power from solar facilities throughout the state, starting in 2025. The plant will offset roughly 10,000t/yr of indirect CO₂ emissions, contributing to a 58% reduction target in Scope 2 GHG emissions from its 2020 levels by 2030.

Senior Vice President of Cemex US Ernesto Felix said "Embracing solar power not only accelerates our own aggressive sustainability goals but also sets a powerful example for the entire industry. By integrating renewable energy solutions through Georgia Power, Cemex paves the way for a greener, more resilient future for generations to come."

Sweden: Peab has entered a product delivery agreement with Stockholm-based start-up CemVision, starting from 14 May 2024. CemVision has developed a cement that reportedly reduces CO₂ emissions by over 95% compared to traditional cement, by replacing limestone and fossil fuels with refined industrial waste and renewable energy. Over the next few years, Peab will use CemVision's ultra-low carbon cement for various projects, including infrastructure, water treatment, foundation work and prefabricated concrete.

Oscar Hållén, CEO of CemVision, said “We are thrilled to be able to deliver our product to Peab. We see that green cement has become crucial for entire industries to be able to meet their climate commitments. The demand is already enormous and all forecasts indicate that it will only increase.”

Spain: The Spanish cement manufacturers' association, Oficemen, and Siemens Energy have signed a two-year collaboration agreement to develop decarbonisation techniques and solutions for Spain's cement industry. The agreement was signed by Siemens Energy's Industrial Sales Director for Southwest Europe, Angel Cillerruelo, and Oficemen's General Director, Aniceto Zaragoza.

Zaragoza said "The Spanish cement industry's commitment to climate neutrality by 2050, outlined in our roadmap, includes exploring the most effective levers for emission reduction, such as the decarbonisation of energy sources or the comprehensive energy management of industrial processes."

Greece: FLSmidth has signed a two-year global service agreement with Titan Group to support 14 cement plants, three grinding plants and a cement terminal across locations including Greece, southeastern Europe, Türkiye, Egypt, Brazil and the US. The agreement encompasses a variety of onsite and remote services such as inspections, audits, troubleshooting and training for diverse equipment types, including material handling and storage, mills, kilns, coolers and pollution control systems.

Vice President of Service at FLSmidth, Isabelle Balmir, said "Titan Group is one of the leading international cement companies. With this contract, we are excited to continue our long-standing partnership and collaboration towards efficiency and sustainability. As we have service expertise located across the world, we are well positioned to support their global footprint."

India: Adani Group has enlarged its stake in Ambuja Cements from 67% to 70%. The Telegraph newspaper has reported that the group converted warrants into shares in the producer. As a result, it will invest an additional US$1bn in funding for Ambuja Cements, having previously infused funding worth US$2.4bn.

Ambuja Cements director and CEO Ajay Kapur said “This infusion of funds provides Ambuja flexibility for fast-track growth, capital management initiatives and best-in-class balance sheet strength.”

Equatorial Guinea: A new five-year service agreement has been signed with SSB International Limited (SSBIL) to provide expertise and supervisory support for the operation and maintenance of Abayak Cement’s plant in Akoga. The plant, equipped with key technology including an OK™ Mill and a ROTAX-2® Kiln supplied by FLSmidth, has been largely idle since its installation in 2016 due to power supply issues. With recent investments in a new power plant and the reactivation of equipment, however, commissioning is underway and is expected to be complete by mid-2024.

Australia: CRH has concluded a deal to acquire the remaining 57% of shares in Adbri not owned by Barro Group for US$1.4bn.

CRH CEO Albert Manifold said “We are pleased to reach this important milestone in the potential acquisition of Adbri in partnership with the Barro family. Adbri is an attractive business with high-quality assets and leading market positions that complement our core competencies in cement, concrete and aggregates, while creating additional opportunities for growth and development for our existing Australian business. We look forward to working with the Barro family over the coming years to enhance the long-term growth and performance of Adbri.”

US: Summit Materials and Cementos Argos have successfully combined their operations in the US under a single entity. Summit Materials acquired Argos North America Corp. for US$1.2bn, and conversely issued 31% of its shares to Cementos Argos. Summit Materials expects to derive US$100m in additional earnings before interest, taxation, depreciation and amortisation (EBITDA) through the deal. Three representatives of Colombia-based Grupo Argos will sit on the board of up to 11 directors of the new combined entity.

Cementos Argos CEO Juan Esteban Calle said "The combination with Summit Materials, which had the resounding support of its shareholders, allows us to begin a new chapter in the successful history of our presence in the US, and is built on shared values, strategic vision and complementary capabilities.” He added “This new milestone consolidates our objective of continuing to expand our presence in the most attractive construction materials industry in the world for the benefit of our shareholders and all interest groups."