Cement News tagged under: Switzerland
Holcim posts record 3Q performance01 November 2022, Published under Cement NewsHolcim reported record 3Q net sales of CHF8045m (US$8043.1m), up 10.4 per cent YoY and 16.3 per cent on a like-for-like (LfL) basis, from CHF7286m. Recurring EBIT edged 1.2 per cent (+7.7 per cent LfL) to CHF1551m in the 3Q22 from CHF1534m in the 3Q21. In the 9M22 group net sales increased 14.5 per cent (+13.9 per cent LfL) to CHF22,725m from CHF19,842m in the 9M21. Recurring EBITDA advanced to CHF3724m in the 9M21 from CHF3516m in the year-ago period. This represents a YoY rise of 5.9 p... |
Sika requests "fast track" remedy from CMA26 October 2022, Published under Cement NewsSika AG and MBCC Group have asked the UK’s Competition & Markets Authority (CMA) to consider a “fast-track” remedy to address concerns that their merger could harm the construction industry in the UK. In November 2021 Swiss firm Sika agreed to buy the German-based MBCC Group in a GBP4.5bn (US$5.1bn) deal. Sika and MBCC are the two largest UK suppliers of chemical admixtures used in the production of cement. Together they account for over half of the UK supply. Following an initial Phase ... |
GCC market to expand at a CAGR of 6% in 2022-3225 October 2022, Published under Cement NewsThe Gulf Corporation Council (GCC) cement market is predicted to grow at a CAGR of six per cent between 2022 and 2032, according to a report by Future Market Insights. Demand for cement by the end of the period is expected to reach a value of US$12,651m. Much of this growth is forecast to come from the residential sector on the back of population growth, along with public infrastructure and non-residential buildings, such as hospitals. According to the report, over the forecast period, Sa... |
Lafarge Cement fined US$778m for ISIS payments19 October 2022, Published under Cement NewsLafarge Cement has agreed to plead guilty and pay a fine of US$777.8m for payments it made to terror organisation ISIS to keep operating a cement plant in Syria. The payments to ISIS, which reportedly totalled US$10.23m, were made from August 2013 to October 2014 and took place while the terrorist group was kidnapping and killing westerners, reports CNBC. According to the United States Department of Justice, "The gains to all participants in the conspiracy, including LCS [Lafarge Cement S... |
Holcim launches world's first 1.5°C science-based framework22 September 2022, Published under Cement NewsHolcim has announced the launch of the world’s first 1.5°C science-based framework to decarbonise the cement industry, following its partnership with the Science Based Targets initiative (SBTi). The framework was independently developed by the SBTi, in collaboration with an expert advisory group representing academia, civil society and industry, to decarbonise cement in a rigorous and science-driven way. Holcim has submitted its 1.5°C-aligned 2030 targets for SBTi validation, and is engagi... |
Holcim closes sale of India business16 September 2022, Published under Cement NewsHolcim has closed the sale of its business in India to the Adani Group. The deal includes Holcim’s stake in Ambuja Cement at a share price of INR385 (US$4.82) and in ACC at a share price of INR2300, resulting in cash proceeds for Holcim of US$6.4bn, according to Dow Jones. Holcim held a 63.11 per cent stake in Ambuja Cement, which owns 50.05 per cent of ACC, along with a 4.48 per cent direct stake in ACC. Jan Jenisch, CEO, Holcim, said, “I would like to thank our 10,700 Indian coll... |
Swiss decarbonisation report claims high cost for industry to reach net zero01 September 2022, Published under Cement NewsA collaborative decarbonisation report on the Swiss cement sector between ETH Zürich, Jura Cement , Vigier Holding , Holcim , cemsuisse, Swiss Federal Office of Energy and the Federal Office for the Environment has advised that net zero can be achieved by 2050 at a CO 2 abatement cost of CHF113/tCO 2 (US$115/tCO 2 ). This would lead to a mothballed annual decarbonisation cost of approximately CHF300m (US$307m) for the Swiss cement sector. The report claims that abatement costs rise wit... |
Holcim joins water coalitions25 August 2022, Published under Cement NewsHolcim has joined the 50L Home Coalition and the Water Resilience Coalition. Through the 50L Home Coalition, Holcim will expand its reach in addressing urban water crises around the world. As a member of the Water Resilience Coalition, Holcim will ensure its water-positive impact methodology aligns with the Coalition’s Net Positive Water Impact concept, then share its methodology for use by other companies. Through these two memberships, Holcim will leverage the rigorous, science-based ap... |
Holcim acquires SES insulation and roofing business02 August 2022, Published under Cement NewsHolcim has successfully completed the acquisition of SES Foam LLC, the biggest independent spray foam insulation company in the US with 2022 estimated net sales of US$200m. SES has a track record of double-digit growth, with advanced energy-efficiency and bio-based solutions for new and green retrofitting projects. Jamie Gentoso, global head Solutions & Products: “I warmly welcome all SES employees into the Holcim family. With SES’ leadership in thermal insulation, we are expanding our... |
Holcim reports on record results in 1H2227 July 2022, Published under Cement NewsHolcim has reported record sales on CHF14,681m (US$15,273m) in the first half of 2022, marking a 16.9 per cent increase YoY, driven by sales growth in all segments. Net sales in the second quarter alone were up 13.6 per cent YoY to CHF8240m. Record recurring EBIT was also seen in the 1H22, coming in at CHF2173m, up 9,6 per cent YoY. This was attributed to a robust improvement in profitability in the company's Solutions & Products segment and strong recurring EBIT margin expansion in North ... |