Displaying items by tag: agreement

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."

Philippines: Petra Cement has concluded a manufacturing and sales agreement with industrial conglomerate Phinma Corp. Reuters has reported that the agreement gives Phinma Corp. operations control over Petra Cement’s Zamboanga grinding plant on the island of Mindañao.

Phinma Corp. is already active in Philippine cement production through its subsidiary Philcement, which operates the 2Mt/yr integrated Bataan cement plant in Central Luzon.

Mexico: GCC has signed an agreement of understanding and collaboration with the United States Agency for International Development (USAID) and professional services company Dexis. Under the agreement the cement producer is joining the Pro-Integrity anti-corruption initiative. This project aims to strengthen the business environment in Mexico by promoting governance, the adoption of corporate best practice and the promotion of partnerships that promote transparency and integrity.

US: France-based Hoffmann Green Cement Technologies has signed an exclusive licensing agreement with a partner in the US to build and operate ‘several’ new units to produce its clinkerless cement in Florida. Business Wire News has reported that the units will employ the same model as Hoffmann Green France Cement Technologies’ existing H2 unit in France.

Hoffmann Green Cement Technologies co-founders Julien Blanchard and David Hoffmann said "Following on from the contract signed with Shurfah in Saudi Arabia a few weeks ago, we are delighted to continue our international expansion with the announcement of this future site in the United States. This agreement with a Florida-based partner demonstrates the appeal, beyond our borders, of our clinker-free cement and our vertical production model. We are proud to be working alongside our partner to decarbonise the construction sector in a state as strategic as Florida, the third most populous state in the US.”

India: UltraTech Cement has concluded an agreement to acquire Kesoram Cement from Kesoram Industries for US$912m. The Times of India newspaper has reported that the price includes an equity value of US$646m and debt of US$267m. As part of the deal, Kesoram Industries shareholders will gain single shares in UltraTech Cement for every 52 shares they hold in Kesoram Industries.

Kesoram Cement operates two cement plants – the 10.8Mt/yr Vasavadatta plant in Karnataka and the 660,000t/yr Kesoram cement plant in Telangana – and a packing plant in Maharashtra.

Kesoram Industries says that the sale of Kesoram Cement will help it to focus on its chemicals, rayon and transparent paper businesses.