Global Cement News

Malaysia: Malayan Cement’s net profit rose by 45% year-on-year to US$31.4m for the first quarter of the 2025 financial year ending 30 September 2024, up from US$21.6m in the same period in 2023. Revenue increased by 3% year-on-year to US$264m from around US$257m. The company stated that its ready-mixed concrete segment had contributed a higher share of revenue due to heightened demand for concrete products. It anticipates continued domestic demand and plans to increase export capacities, especially at its Langkawi plant.

Malaysia: Borneo Cement (Sabah) (BCS) plans to convert its upcoming integrated cement plant in Sabah's Tongod district into a tourist destination once the plant begins operations in May 2025. According to BCS chair Masiung Banah, limestone processing and environmental protection practices could serve as a an ‘attractive package’ for foreign and domestic tourists, according to The Star Malaysia. He said that limestone areas rich in flora and fauna and tropical ecosystems would be maintained without being polluted by factory waste. The plant will also reportedly be made into a research hub for Malaysian universities. It is currently in its first phase of development.

Cyprus: Labour Minister Yiannis Panayiotou has appealed to both sides for a resolution to the ongoing cement workers' strike that has now entered its fourth week, according to Cyprus Mail. Negotiations over a new collective agreement have been rejected, with workers demanding the restoration of overtime pay to pre-2018 levels, a reduction agreed upon between 2018 and 2020. Despite appeals from the minister and some employers open to continuing discussions, the unions have maintained a firm stance against altering their demands. The construction industry has reportedly come to a standstill as a result, prompting the minister’s involvement.

Panayiotou said "The restoration of normality in the concrete production sector is necessary for the smooth operation of the wider construction industry and other affected sectors, to avoid negative effects on the Cypriot economy. Unfortunately, we have entered the fourth week of strike measures despite the repeated efforts that have been made to bridge the gap.”

Kenya: A police operation in Athi River led to the arrest of five suspects and the impoundment of three trucks involved in a cement siphoning racket. Officers from the Kenya Police Service recovered over 660 bags of cement that allegedly weighed 4kg less than advertised, at 46kg each, according to The Star Kenya. The operation was initiated after a customer had complained about receiving underweight cement bags. One of the suspects said that he was paid US$3.86/day to siphon 2 - 6kg of cement from each 50kg bag, and that each truck carrying 220 bags of cement was siphoned by three people at a time, usually during the night.

US: Quikrete has entered into a definitive agreement to buy Summit Materials for a total enterprise value of US$11.5bn. The deal will add Summit Materials’ aggregates, cement and ready-mixed concrete business to Quikrete’s concrete and cement-based products business to create a vertically integrated business in North America. Quikcrete’s acquisition offer was first revealed in late October 2024. The transaction is expected to close in the first half of 2025 subject to shareholder approval at Summit Materials, regulatory approvals and other customary conditions.

Will Magill, CEO of Quikcrete, said “We are thrilled to welcome Summit into the Quikrete family.” He added, “This acquisition represents a significant milestone in our journey to expand our capabilities and geographic presence.”

Colombia-based Cementos Argos is Summit Materials’ largest shareholder with a 31% stake. It has agreed to vote all of its shares in Summit’s common stock in favour of the transaction. Cementos Argos says will generate a cash value of around US$2.9bn from the sales of its shares.