Thailand: The Securities and Exchange Commission has approved Siam Cement Group (SCG)’s planned debenture issuance. Reuters News has reported that the value of the debenture is US$926m.
United States Lime & Minerals acquires Mill Creek Dolomite
US: United States Lime & Minerals has announced its acquisition of Mill Creek Dolomite from InterRock Minerals. The value of the deal was US$6.4m.
Argos USA to convert Roberta cement to Portland limestone cement production
US: Argos USA has announced the upcoming transition of its Roberta, Alabama, cement plant to Portland limestone cement (PLC) Type IL production. By mid-2022, the company plans to produce 100% PLC at the 1.7Mt/yr plant. Its Durham, Statesville and Wilmington cement terminals in North Carolina will also transition to the exclusive distribution of PLC. The Roberta plant will directly serve customers in Alabama, Florida, Georgia and Mississippi.
Argos USA has also launched PLC production at its Harleyville, South Carolina, Newberry, Florida, and Martinsburg, West Virginia, cement plants. It aims to begin producing PLC at all of its cement plants nationally by 2024.
CEO Bill Wagner said "We are excited to announce the transition of the Roberta plant to 100% (PLC) Type IL. With this transition, we continue to support our customers and the industry on its road to lower greenhouse gas emissions. With PLC, we are supplying a more environmentally friendly building solution for our customers, engineered to deliver an outstanding quality and performance while lowering our carbon footprint.”
Siam Cement Group cement business sales rise as earnings fall in 2021
Thailand: Sales from Siam Cement Group’s (SCG) cement business rose by 6% year-on-year to US$5.61bn in 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 13% to US$145m. The company said that demand for cement improved gradually in the fourth quarter of 2021 following Covid-19 related shutdowns in the third quarter. Overall group sales were US$16.5bn in 2021, up by 33%, and net profit rose by 38% to US$1.4bn, boosted by the company chemicals division performance.
President and chief executive officer Roongrote Rangsiyopash said that its integration of environmental and social governance, along with a digital transformation, during the year contributed towards growth, along with a demand rise in line with the decline in Covid-19’s ongoing impacts.
