Global Cement News

Singapore: Hong Leong Asia reported a 5% year-on-year rise in revenue to US$3.03bn and a 19% increase in net income to US$48.3m for 2023. In the second half of the year, the company’s building materials segment raised its sales by 14% to US$256m and more than doubled in profit to US$33.6m. It attributed the growth to its cement and ready-mix operations in Malaysia, which reversed its previous year's losses.

CEO Stephen Ho said "The prices we see in Malaysia now reflect a bit more closely the higher costs of operations. I think we are at a level where profitability starts to kick in for everyone.”

Spain: Cementos Molins’ revenues were €1.35bn in 2023, marking a 6% year-on-year rise, amid increased cement sales volumes. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 22% to €337m, while its net profit grew by 35% to €151m. The company noted its successes in the face of economic slowdown and supply chain disruptions across its markets.

CEO Julio Rodríguez said “We have achieved record sales and profits in an increasingly complex and uncertain global environment. Moreover, we have once again confirmed the strength of our business model by exceeding our targets.”

Gabon: Cimaf Gabon is considering establishing a new $147m cement plant in Meba, Estuaire Province. This will help to end Cimaf Gabon's dependence on clinker imports and raise its total cement production capacity by 18% from 850,000t/yr to 1Mt/yr, against local demand of 600,000t/yr.

Managing director Janah Idrissi El Mehdi said "We currently import €32.6m/yr-worth of clinker. The idea behind this investment is to be able to enhance the local industrial fabric and at the same time enable job creation in the order of 1500 jobs in the project phase and 500 jobs in the operating phase. And also in parallel a stabilisation of cement prices."

Belgium: Heidelberg Materials Benelux will invest €450m in its Anthemis project, involving the installation of an 800,000t/yr carbon capture system, at its Antoing cement plant. The project is scheduled for completion in 2029. Captured CO₂ will travel by pipeline to the North Sea for storage.

Germany: The German government published its new carbon management strategy and draft carbon storage law (KSpG) on 26 February 2024. The KSpG revises understandings of carbon neutrality to include CO₂ savings made through carbon capture and storage (CCS). The government says that the legislation primarily aims to support hard-to-abate sectors like cement, while coal-fired power plants will be barred from future CO₂ pipeline access. Heidelberg Materials CEO Dominik von Achten was alongside politicians at the strategy launch. The producer’s Brevik cement plant in Norway is set to become carbon neutral through the capture and storage of 400,000t/yr of CO₂.

German Federal Minister for Economic Affairs Robert Habeck said "Achieving our climate targets without CCS is impossible."