Global Cement News

North America: Australia-based Boral has signed an agreement with a subsidiary of Westlake Chemical Corporation for the sale of its North American Building Products business. The value of the sale is US$2.15bn and the proceeds will increase Boral’s surplus capital, enabling it to reduce its net debt target to US$0.98m from US$1.13m. Boral’s North American Building Products manufactures and supplies cladding, roof tiles, windows and other light building products for residential and commercial markets

Under its on-going review of its North American Fly Ash business, Boral is now considering a divestment, a joint venture or a strategic alliance formation for the subsidiary. It said that it expects to decide by August 2021.

Russia: Chrysotile producer Uralasbestcement has acquired a 54% stake in Belgorodasbestcement via its subsidiary Asbotsemizdelie. Belgorodasbestcement produces chrysotile or white asbestos cement products for domestic sale and export, according to the AK&M Information Agency.

Malawi: Switzerland-based Holcim says that the world’s first 3D printed school has opened in Salima district’s Kalonga village after a build time of just 18 hours. The EcoPact green concrete producer says the building provides a much-needed thirteenth school in Yambe, which still needs three more. Holcim’s green construction subsidiary 14Trees estimates that its 3D printing technology can meet Malawi’s school building needs by 2031, compared to after 2090 by conventional methods. The group said that the school proves that “3D printing can play a key role in bridging our world’s education infrastructure gap” with high-quality, sustainable, affordable and fast-paced construction, at scale.

Europe, Middle East and Africa regional head Miljan Gutovic said, “I am very proud of how our colleagues at 14Trees have deployed cutting-edge 3D printing technology to solve such an essential infrastructure need. Now that we’ve proven the concept in Malawi, we look forward to scaling up this technology across the broader region, with projects already in the pipeline in Kenya and Zimbabwe.”

India: Ambuja Cement Foundation has signed a memorandum of understanding with Vedanta Limited subsidiary Talwani Sabo Power Limited (TSPL). India Blooms News has reported that the partners plan to promote 200 self-help groups in Mansa district, Punjab. The groups’ focus will be on the empowerment of women. Under the memorandum of understanding, the partnership will establish at least three independent enterprises to address community problems in the district.

Managing director and chief executive officer Pearl Tiwari said, “As our major focus is on women, gender and livelihoods, our new partnership with TSPL will further support us to drive impactful initiatives under the women empowerment programme and enhance our already existing programmes in Punjab.”

South Africa: PPC’s group revenue grew by 3% year-on-year to US$625m in its financial year to 31 March 2021 from US$607m in the same period in 2020. Group earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 16% to US112m from US$96.6m. Sales and earnings rose due to a recovery in cement sales, particularly outside of Zimbabwe, and general cost cutting.

Cement sales in South Africa benefited from retail demand in the inland region, while the coastal regions experienced a lagged recovery in demand. In Rwanda, the group’s Cimerwa subsidiary reported ‘strong’ cement sales due to the roll-out of government projects, retail demand and exports to the Democratic Republic of Congo. Operations in Zimbabwe were hampered by high inflation
and a shortage of foreign currency.

“Despite the difficult trading conditions in most of our markets, our businesses have benefited from a recovery in cement demand, resulting in improved financial performance,” said chief executive officer Roland van Wijnen. He added that the group has worked on capital restructuring and refinancing projects. It has concluded an agreement with PPC Barnet's lenders, which terminates their right to recourse to PPC, signed agreements for the sale of PPC Lime and an aggregates business in Botswana and agreed with its lenders in South Africa to defer the equity capital raise in South Africa from March 2021 to September 2021.