India: Star Cement’s net profit after tax fell by 35% year-on-year to US$25.7m in its financial year to 31 March 2021 from US$39.3 in the same period in 2020. Its revenue dropped by 7% to US$235m from US$252m.

Israel/ Palestine: Israel has reportedly asked Egypt to block imports of cement and other building materials into Gaza, according to the Israeli Public Broadcasting Corporation. The move is intended to stop militant groups in the territory using the materials. It follows a ceasefire between the Israeli government and the Palestinian militant group Hamas in late May 2021 after nearly two weeks of fighting. So far, cement and other building materials have been entering Gaza unimpeded via Egypt.

Mexico: Cemex has concluded the sale of subordinated notes with a value of US$1.0bn. The company says that it will use the proceeds from the bonds sale for various purposes, including debt repayment.

Chief financial officer Maher Al-Haffar said, “The purpose of this transaction is to further Cemex in its pursuit of an investment grade capital structure and a commensurate leverage ratio.”

Switzerland/US: LafargeHolcim and GE Renewable Energy have signed a memorandum of understanding to research new ways to recycle of used wind turbines. The partners are seeking to use the shredded blades to produce low-CO₂ building materials. LafargeHolcim said that undertaking builds on the work of its subsidiary Geocycle, which previously began using GE’s waste wind turbine blades to produce alternative fuel (AF) for cement production. The cement producer called recycling the ‘key next step’ in line with the Circular Economy Action Plan of the European Union’s European Green Deal.