Displaying items by tag: diversification

Switzerland: Holcim recorded net sales of US$6.75bn in the first quarter of 2022, up by 20% year-on-year from US$5.62bn in the first quarter of 2021. The group’s recurring earnings before interest, taxation, depreciation and amortisation (EBIT) rose by 16% to US$643m from US$553m. The company has upgraded its outlook 2022 to a forecast of full-year net sales growth of at least 10%.

CEO Jan Jenisch said “I am very encouraged by the record start of the year, setting a solid foundation to our Strategy 2025 – Accelerating Green Growth.”

The first quarter of 2022 brought four new bolt-on acquisitions in addition to the group’s conclusion of its US$1.35bn Malarkey Roofing Products acquisition. The company says that it remains actively engaged in supporting humanitarian efforts in Ukraine.

Holcim has also published its industry-first Climate Report 2022. The report details the company’s progress towards achieving its sustainability targets under the four pillars of its Strategy 2025 – Accelerating Green Growth. Under the Accelerating Growth pillar, Holcim reached a total of 15 markets with its ECOPlanet reduced-CO₂ cement range. Under Expanding Solutions & Products, it reduced the proportion of cement sales in its consolidated sales to 57% in 2021 from 60% in 2020. Its other pillars are Leading in Innovation and Sustainability and Delivering Superior Performance. In 2021, the company used 6.6Mt of recycled construction and demolition waste in its products, against a 2050 target of 10Mt.

Chief sustainability and innovation officer Magali Anderson said “On our net-zero journey, we are walking the talk at Holcim, taking clear science-driven action to win the race for climate.”

Denmark: Cement and wood-based acoustic board producer Troldtekt has agreed to a takeover offer from Ireland-based Kingspan Insulation. The producer uses ordinary Portland cement (OPC) produced ‘from Danish mineral resources’ along with shredded Norway spruce to produce its boards.

Kingspan Insulation managing director Alan Lawlor said "I am delighted to welcome Troldtekt to the Kingspan family. As the global leader in high-performance insulation and building envelope solutions, we have the capacity to help them expand beyond their core markets, whilst bringing acoustic and decorative boards and natural insulation materials into our portfolio. Troldtekt has been able to continuously innovate and it sets the bar impressively high in the field of the circular economy.” He concluded "We will invest significantly in the company's production facilities to set them up for geographic growth."

France: Holcim has entered into an agreement to acquire speciality building products supplier PRB Group. PRB Group produces coatings, insulations, adhesives and flooring systems. Holcim says that the company’s product range compliments its own and expands its reach in the high-growth repair and refurbishment market. PRB Group employs 700 people its five plants, 26 warehouses and its research and development centre. Its estimated net sales in 2022 are Euro340m.

Holcim chief executive officer Jan Jenisch said “We are off to a strong start to the new year, on our way to welcoming the PRB Group into the Holcim family. This is another exciting step in the expansion of solutions and products, advancing our Strategy 2025 – Accelerating Green Growth. I am highly impressed by the outstanding achievements of the Laurent family as well as by the expertise and passion of the entire PRB team. I look forward to warmly welcoming all employees into Holcim and to invest in our next era of growth together, with a continued focus on innovation, sustainability and branding.”

China: Sichuan Shuangma Cement’s board of directors voted in favour of a rebranding on 16 December 2021. In a filing to the Shenzhen Stock Exchange, the company stated that it will change its name to Sichuan Hexie Shuangma. The reason for the change is the producer’s diversification away from its original business of cement production into other industries, making the ‘Cement’ element less relevant than it had previously been. Hexie is Chinese for harmony.

US: LafargeHolcim has acquired Marshall Concrete Products. The newly acquired subsidiary supplies concrete products and services in the Minneapolis/St Paul metropolitan area in Minnesota.

Chief executive officer Jan Jenisch said “This acquisition is another step in our Strategy 2025 to become the global leader in innovative and sustainable building solutions. We welcome the employees of Marshall Concrete Products and look forward to building on their strong customer service focus, which made them a partner of choice in the Twin Cities area for decades. This acquisition strengthens our presence in this strong growth market while contributing to Holcim’s overall strategy to expand our range of low-carbon products and solutions.”

Spain: Cementos Molins has secured a renewal of its sustainability-linked loan until December 2026 and increased its limit to Euro300m. The loan is linked to reductions in Cementos Molins’ CO₂ emissions.

Chief financial officer Jorge Bonnin said “This innovation, together with the robust financial position and the strong cash generation, enables the development of the profitable and sustainable growth strategy through markets consolidation and development in new markets.”

Germany: Cementos Molins has concluded its acquisition of calcium aluminate cement producer Calucem following all regulatory approvals. Calucem operates the Pula grinding plant in Istria, Croatia and a bauxite quarry in Turkey. The new acquisition positions Cementos Molins as the world's second largest calcium aluminate cement producer. The company said that it expands and enhances its innovative and sustainable product range in line with its sustainable growth strategy.

CEO Julio Rodríguez said “I warmly welcome the Calucem team into the Cementos Molins family. Today marks a new and exciting milestone in the history of Calucem and Cementos Molins and, with this integration, we have excellent business development opportunities for a new step forward to our strategy of profitable and sustainable growth.”

Calucem CEO Yuri Bouwhuis said “We are excited about the integration into Cementos Molins, where we will accelerate our development and create together more value for all our stakeholders.”