Vietnam: Several Vietnamese cement producers have reported losses in the first half of 2024, attributing the downturn to reduced domestic demand and competitive pricing pressures, reports Vietnam Investment Review. Vicem But Son recorded losses of US$1.5m in the second quarter of 2024, marking its seventh consecutive quarter of losses, with a 2024 first half revenue figure of US$50m, down by 10%, and total losses reaching US$3.83m. Vicem Hai Van also continued its decline, with a 43% drop in second quarter revenue to just over US$4m and losses of US$396,000. Vicem leaders said that challenges arose due to a reduced demand following limited civil engineering projects and a stagnant real estate market.

Despite the sector's overall downturn, firms like Vicem Ha Tien and Chinfon have recorded profits, with Ha Tien posting US$141m in revenue and US$875,000 in profits, and Chinfon doubling its yearly profit to US$25,250. However, the outlook for the remainder of 2024 remains bleak, with anticipated difficulties in market recovery and increasing input costs. Acoording to Vicem, the cost of electricity will continue increasing, while the demand for cement is not anticipated to recover before the end of 2024.

Denmark: FLSmidth has reported a 23% decline in group revenue for the second quarter of 2024. Despite the decline, gross profit rose by 5% to US$233m from US$221m in the same period in 2023. The cement division experienced a revenue decrease of 32%, though it achieved an adjusted earnings before interest, tax and amortisation (EBITA) margin of 9.6%.

Group CEO Mikko Keto said "Our performance in the first half of 2024 is testament to our continued strong progression across all our key transformation activities, with additional improvements in profitability. The largely stable cement market continues to provide good opportunities for our service business. Looking ahead, the resilience of our service-oriented business model, our continued focus on business simplification to ensure a cost-efficient operating model and our dedicated focus on strategy execution gives us great confidence that we are well on track to meet our long-term financial ambitions."

US: Heidelberg Materials North America has finalised award negotiations with the US Department of Energy's (DOE) Office of Clean Energy Demonstrations. The Mitchell cement plant in Indiana will receive US$300,000 to begin the first phase of its decarbonisation project, part of a broader initiative of up to US$500m in DOE funding to support full-scale carbon capture, transport and storage developments. The Mitchell cement plant has tripled its previous production capacity, with this project aiming to capture and process about 2Mt/yr of CO₂.

Chris Ward, president and CEO of Heidelberg Materials North America, said "This critical milestone of bringing our project under award with the US Department of Energy is a significant step in building the first full-scale application of carbon capture and storage for the cement industry in the US.”

Latvia/Lithuania: Capsol Technologies has won a contract to carry out two CapsolGo carbon capture demonstration campaigns at the Brocēni cement plant in Latvia and the Akmenės Cementas cement plant in Lithuania. Both plants are owned by Germany’s Schwenk Zement. Following a feasibility study earlier in 2024, the demonstrations will run from the fourth quarter of 2024 to the fourth quarter of 2025 and will showcase the CapsolEoP capture technology.

Philipp Staggat, chief product officer of Capsol Technologies, said "CapsolEoP offers lower energy consumption with higher CO₂ concentration than competitive technologies, and the capture cost for cement owners is reduced further as it doesn't require external steam supply. We are looking forward to demonstrating our technology on Schwenk's cement plants.”

CEO of Akmenės Cementas, Arturas Zaremba added "In collaboration with our clients and stakeholders, we are dedicated to addressing these challenges. The implementation of CapsolEoP technology at our Latvian and Lithuanian plants is a testament to our commitment, marking a significant stride towards the goal of capturing over 1.5Mt/yr of CO₂.”