Global Cement News

Greece: Titan Cement has received the validation of the Science-Based Targets Initiative (SBTi) for its CO₂ emissions reduction targets. The validation confirms that the company’s targets are in line with a well-below 2°climate change scenario.

The group aims to reduce Scope 1 emissions per tonne of cementitious product by 21% by 2030 from 2020, and to reduce Scope 2 emissions by 42% within the same parameters. Additionally, it has committed to drive down the CO₂ footprint of its operations and products with the aim of delivering 100% carbon-neutral concrete by 2050. Methods include increasing the use of alternative fuels, accelerating efficiency-improving initiatives, developing low-carbon products, and adopting innovative technologies and solutions. The company says that it will also monitor and independently verify its supply chain emissions.

It said “Through the participation in European and international consortia, as well as through collaborations in research and development, Titan Group will continue to develop low-carbon cementitious products and pilot carbon capture technologies in its plants, actively contributing to the industry’s ambition for a carbon-neutral future.”

Australia: Seven Group has increased its stake in Boral to 52% via a 3% equity swap with Macquarie. the company now has effective control of the building materials producer although it assured Boral that it would retain a majority of independent directors, according to the Sydney Morning Herald newspaper. However, Boral has continued to urge its shareholders to resist the ongoing offer by Seven Group to buy their shares. The takeover bid has been valued at around US$6.5bn. Boral is currently in the process of selling its US fly ash business.

Canada: Progressive Planet and sustainable construction company ZS2 have signed a letter of intent to collaborate on green cement technologies development. The pozzolan-based cement producer will supply ZS2 with 10,000t/yr of natural pozzolan, beginning in late 2021. It will also purchase US$300,000-worth of shares in ZS2. The companies will also explore sequestering CO₂ in magnesium-based cements.

ZS2 chief executive officer Scott Jenkins said "The technical collaboration between PLAN and ZS2 continues to grow. The potential to reduce the carbon footprint of innovative cement products is significant with the combination of our mutual research and commercialisation to date. ZS2's growing portfolio of high performance, fire-resistant and sustainable building technologies will be greatly enhanced by our expanding partnership, and we are extremely excited about our shared future potential."

Finland: UK-based minerals group SigmaRoc has acquired Nordkalk for Euro500m. The group says that Nordkalk, SigmaRoc’s sixth platform, adds a core limestone business from more than 30 locations across 10 European countries. Circular economy products comprise 13% of Nordkalk’s sales volumes. It currently makes careful use of by-products and SigmaRoc says it has a clear ambition towards fossil-free and carbon neutral operations in the future.

SigmaRoc Chair David Barrett said “Nordkalk is a well-established and well-respected business with a substantial asset footprint spanning Northern Europe. It has a long history of success and much future potential. This acquisition creates a raft of new opportunities for SigmaRoc to capitalise on in the months and years ahead.”

Chief executive officer Max Vermorken said “The acquisition of Nordkalk, Northern Europe’s leading limestone products company, is a great stepping stone in the evolution of our group, expanding our footprint across Northern European markets. We are purchasing a high-quality business at the right point in the cycle and at an attractive valuation. Nordkalk meets all our stringent investment criteria as a self-contained and asset-backed business which will bring the Group significant earnings growth. We look forward to helping Nordkalk and its experienced management team on its path to continued success as we perpetuate its 120-year history, name and success.”

Mexico: Cemex is set to begin construction of a planned US$250m new stadium for its football team Tigres UANL in Monterrey, Nuevo León. The Récord newspaper has reported that the stadium, on the grounds of the Nuevo León Autonomous University, may host some North America 2026 World Cup fixtures.