Global Cement News

Ireland: CRH says it has reduced its proposed executive salary increases following votes by a significant minority of its shareholders against a remuneration report. The board said that it would take into account the views of 39.7% of its shareholders by providing a lower salary increase to its finance director, although it had offered other benefits to the director instead. It added that the remuneration committee of the company intends to hold a consultation later in 2018.

Sweden: Cementa, a subsidiary of HeidelbergCement, has handed its environmental roadmap to Minister of Trade and Innovation Mikael Damberg and Deputy Prime Minister and Climate Minister Isabella Lövin. The initiative is part of the Fossil-free Sweden plan to coordinate reduced reliance of industry on fossil fuels and increased competitiveness.

Mexico: Cemex’s first quarter operating earnings have fallen due to poor weather and fewer business days. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 4% year-on-year to US$535m in the first quarter of 2018 from US$557m in the same period in 2016. Its new sales rose by 8% to US$3.38bn from US$3.14bn and its cement sales volumes rose slightly to 16.1Mt from 15.9Mt.

“Our EBITDA generation during the quarter was affected by seasonal effects, including adverse weather in our European and US operations, fewer business days and an inventory costing-variation effect. We expect the impact of the fewer business days and the inventory effect to revert in the upcoming months, while we expect most of the pent-up demand caused by adverse weather to be recovered during the rest of the year,” said chief executive officer Fernando A Gonzalez.

Ireland: CRH’s sales fell by 2% year-on-year for the first quarter of 2018. It failed to provide figures for the decline but blamed it on bad weather and poor timing of holidays. Sales fell by 2% in Europe, 3% in the Americas and by 5% in the Philippines. By region in its Europe Heavyside division CRH reported falling sales in most countries with the exception of Switzerland, the Netherlands, Denmark and Finland.

The group reported that it finalised an agreement to merge Suwannee American Cement, acquired in November 2017, with American Cement Company, a 50:50 joint venture based in Florida. CRH now owns 80% of the enlarged business following this non-cash deal. This deal is intended to strengthen Americas Materials’ position in existing markets in Central and Northern Florida, optimise market coverage and achieve operating and vertical integration synergies. It also said that its deal to buy Ash Grove Cement is progressing through regulatory approval in the US and is expected to close in May 2018.

Nigeria: Germany’s Gebr. Pfeiffer has struck a deal to sell a MVR 6000 R-4 mill for raw material grinding and a MPS 3350 BK mill for processing coal for kiln firing for Dangote Cement’s new plant at Okpella in Edo State. The mill order is the first for Gebr. Pfeiffer from the Nigerian cement producer. The order was placed by the China’s Sinoma International Engineering.

The MVR mill featuring a total drive power of 4000kW will be grinding 550t/hr of cement raw material to a fineness of 10% R 90µm. The MPS 3350 BK with a drive power of 1100kW is designed for a throughput rate of 50 - 70t/hr and will grind Nigerian coal, imported coal and/or pet coke, to a fineness of 12% R 90µm. Gebr. Pfeiffer’s own staff will supervise erection and commissioning.