Turkey: HeidelbergCement and Sabancı Holding subsidiary Akçansa has used the coronavirus lockdown period to install a new burner at its Büyükçekmece cement plant in Istanbul, where production has been suspended due to the outbreak. FCT Combustion supplied the burner, which it said will improve ‘combustion, emissions control and clinker quality.’
Akçansa will undertake a burner upgrade on its second kiln during a scheduled stoppage in mid-2020.
UK: The Construction Products Association (CPA) has predicted a 25% year-on-year decline in total national construction output in 2020. It said that the coronavirus lockdown resulted in the loss of 60% of planned construction output in April 2020, included 85% of homebuilding.
CPA economics director Noble Francis said, “Even under this most optimistic of scenarios, the country’s construction activity would suffer its sharpest fall ever recorded. Returns to site in May 2020 will focus on partially completed developments rather than new starts as house builders are expected to be cautious given uncertainty regarding demand. This uncertainty will also keep the recovery muted in commercial offices, industrial factories and the most severely-affected sub-sector, commercial retail.” He added, “A more positive outlook is expected for infrastructure activity thanks to a greater ability to implement safe distancing for workers on larger sites but also, vitally, thanks to HS2 being given the go ahead to proceed. An increase in activity from the five-year investment programmes within regulated sectors such as water and sewerage, roads and rail also adds to this more positive story.”
US: The Texas Commission on Environmental Quality (CEQ) has granted permission to Lhoist North America for the installation of a new vertical kiln at its New Braunfels, Texas plant. The company says that the kiln will form the basis for a plant expansion to meet the growing lime demand of the construction and steel sectors.
Lhoist North America chief executive officer (CEO) and president Ron Thompson said, "We are proud that this investment at New Braunfels aligns with our company's commitment to environmentally sustainable growth."
Mexico: Cemex has announced the amendment of its facilities agreement with several financial institutions to alter its consolidated leverage and coverage covenants. Under the new terms, the leverage covenant will increase to 6.75x for June 2020 and to 7.00x for September 2020 through to March 2021 and decrease thereafter.
Cemex chief financial officer (CFO) Maher Al-Haffar said, “We are very pleased with the completion of this process and with the support of our lenders. We are proud of our track record in working together with our bank group in both good and challenging time.”
Cemex said that as part of the amendment it has agreed to ‘temporarily limit certain flexibilities related to capital expenditure.’
