Global Cement News

Greece/Belgium: Titan Cement International has bought back a further Euro313,000-worth (0.4%) of its shares. The latest buyback increases its ownership stake to 4.4%. The cement producer bought the shares via the Athens Stock Exchange and Euronext Brussels exchange.

Bolivia: Itacamba Cemento declared a general assembly of bondholders on 22 May 2023 void after bondholders failed to attend in sufficient numbers for the meeting to proceed. The company said that there was insufficient quorum in accordance with the provisions of its bond issuance programme, and that the way forward would be to call a new assembly.

This story was amended on 26 May 2023, after a previous version erroneously stated that the bond issuance had been declared void - whereas it was the inquorate meetings that were declared void. Global Cement apologises for this error.

Spain: Cemex España and ecology company Cinclus have extended their quarry rehabilitation partnership to a national level. Under the extended collaboration, the partners will implement restoration plans for all of Cemex España’s quarries, in line with the cement producer’s Biodiversity Action Plans.

India: Shree Cement's consolidated sales were US$2.16bn in the 2023 financial year, up by 19% year-on-year from US$1.81bn during the preceding financial year. The company's total expenses rose by 33% to US$2.03bn from US$1.53bn. This led to a drop in profit of 46%, to US$153m from US$282m.

Germany: Chemicals company BASF has won a contract to supply its OASE Blue CO₂ separation technology for use in the upcoming 70,000t/yr carbon capture installation at Heidelberg Material's Lengfurt cement plant in Bavaria. The Capture to Use (Cap2U) project, in partnership with fellow chemicals company Linde, aims to capture CO₂ from the plant for use in the chemicals, food and beverages industries.

BASF head of gas treatment Andreas Northemann said “Our portfolio of OASE technologies makes a significant contribution to sustainability and is perfectly suited to help our customers achieve their sustainability targets. This carbon capture and use unit facility has the potential to become a show-case project in a hard-to-abate sector."