Cement News tagged under: Switzerland

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Synhelion receives new funding for solar fuel technology

16 December 2022, Published under Cement News

Solar fuel specialist Synhelion has raised CHF22m (US$23.7m) in another successful financing round. The funds were primarily provided by existing investors, including CEMEX and CEMEX Ventures, CEMEX’s corporate venture capital and open innovation unit, as well as selected new strategic investors. The proceeds of the investment round will accelerate Synhelion’s growth and support the scaling and commercialisation of its unique technology.  Synhelion’s existing and new investors are worl...

Holcim to delist from Euronext Paris

21 November 2022, Published under Cement News

Holcim Ltd has announced that it is delisting its shares from Euronext Paris to simplify its trading structure, effective from 30 December 2022. According to the company, the decision will focus the trading of Holcim shares in its primary market, the SIX Swiss Exchange (SIX), reflecting the shift in volumes away from Euronext Paris over the years. The simplification, which has been approved by the Board of Directors of Euronext Paris SA , will further reduce Holcim's administrative...

Holcim appoints new CFO

18 November 2022, Published under Cement News

Holcim haș appointed a new chief financial officer (CFO). Steffen Kindler will join the company, replacing Geraldine Picaud who is leaving Holcim effective from 1 May 2023. Mr Kindler joins Holcim from Nestle where he most recently held the role of CFO for Nestle’s German market. His broad experience spans key business roles, including VP Finance and Control of Los Angeles-based Nestlé Beverages USA, CFO of Nestlé Waters Europe, based in Paris; as well as responsibility for business dev...

Swiss market contracts 3% in 3Q22

09 November 2022, Published under Cement News

Cement deliveries in Switzerland, including Liechtenstein, declined by 2.6 per cent to 1,080,399t in the third quarter of 2022 from 1,108,772t in the 3Q21, according to the Swiss cement association, cemsuisse. In the January-September 2022 period, sales edged up 1.1 per cent to 3,174,108t from 3,139,313t in the 10M21. Ordinary Portland cement (CEM I) sales were down 5.4 per cent YoY in the 3Q22 with 9M CEM I sales down 0.3 per cent YoY. Cement deliveries by rail remained stable with 36...

Holcim posts record 3Q performance

01 November 2022, Published under Cement News

Holcim 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 CMA

26 October 2022, Published under Cement News

Sika 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 2022-32

25 October 2022, Published under Cement News

The 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 payments

19 October 2022, Published under Cement News

Lafarge 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 framework

22 September 2022, Published under Cement News

Holcim 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 business

16 September 2022, Published under Cement News

Holcim 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...