Cement News tagged under: western Europe
CEMEX Espana to consider next step after EUR456 tax fine22 November 2023, Published under Cement NewsCEMEX has announced that its subsidiary, CEMEX España, will pay approximately EUR456m in fines as a result of a tax audit in Spain that commenced in July 2011 and covered the years 2006-09. According to a company press release, the tax authorities questioned some of the tax losses that Cemex España reported during those years. These losses were not used by Cemex España and have not been shown in its financial statements since 2012. CEMEX evaluating next steps According to the compa... |
RHI Magnesita opens new office in Mexico22 November 2023, Published under Cement NewsRHI Magnesita has opened a new customer service hub in Monterrey, Mexico. The new offices are located in San Pedro Garza Garcia, Nuevo León. “We are proud to be expanding into Monterrey and showcasing our brand in this new area. We’re confident that the addition of the team in this office will support our focus on providing our customers with the best experience,” said Craig Powell, North America regional president, RHI Magnesita. The company serves customers around the world fro... |
CRH reports 8% sales growth in 9M2321 November 2023, Published under Cement NewsCRH has posted sales of US$26.3bn for the first nine months of 2023, up eight per cent on the same period a year earlier. EBITDA in the 9M23 has come in at US$4.8bn, marking a 14 per cent YoY advance, while the EBITDA margin has expanded by 100bps to 18.1 per cent. According to the company, the positive momentum seen in the first half of the year continued into the third quarter, underpinned by strong commercial progress and positive underlying demand across key end-use markets. Sales ... |
Can Germany's construction sector avoid collapse?17 November 2023, Published under Cement NewsThis week the Financial Times cited that the growing collapse in the German housebuilding sector could spread through the wider economy. Germany's construction sector has plummeted since January 2023, dropping 47 per cent for newbuilds compared with the average in the last two years, despite Chancellor Olaf Scholz's annual build target of 400,000 flats. A 14-point action plan by the federal government may not be enough to stimulate the construction sector quickly enough to prevent the IMF fr... |
Holcim US rebrand reaches Atlanta17 November 2023, Published under Cement NewsHolcim US has announced that the expansion of its rebrand has now touched down in Atlanta, Georgia, one of its major cement distribution markets. The transition will see the company refresh its branding and renew its commitment to sustainability as part of the global focus on becoming a net-zero company. With cement terminals in Cartersville, Duluth and Covington, Georgia, the rebranding initiative reinforces Holcim’s dedication to the Metro Atlanta area and Southern region, according ... |
Cementos Molins signs sustainability-linked loan16 November 2023, Published under Cement NewsCementos Molins of Spain has signed a second novation of its sustainable syndicated financing, which was originally formalised in 2019 with a first novation completed in 2021. This second continues to be classified as a "sustainability-linked loan" and extends the maturity by another two years until December 2028, maintaining the amount to EUR300m divided between a term loan of EUR75m and a revolving credit facility of EUR225m. All other terms and conditions also remain unchanged. The ... |
Holcim exits Uganda and Tanzania15 November 2023, Published under Cement NewsHolcim has signed agreements to divest its businesses in Uganda and Tanzania. It has agreed to sell Hima Cement Ltd , its local subsidiary in Uganda, to the Sarrai Group, for an enterprise value of US$120m. Holcim has also agreed to sell its 65 per cent share in Mbeya Cement Co Ltd in Tanzania to Amsons Group for an undisclosed sum. Completion of both transactions is subject to obtaining the respective regulatory clearances. Martin Kriegner, regional head Asia, Middle East and A... |
Materials scientists call for wider adoption of low-carbon cement15 November 2023, Published under Cement NewsConvening at a symposium in Paris hosted by Ecocem , Europe’s leading low-carbon cement technology business, scientists shared latest research papers on low-carbon cement technologies, and focussed on ideas and materials which can accelerate decarbonisation of the sector. The meeting called for the cement and construction sectors to urgently adopt low-carbon cement technologies to radically reduce CO 2 emissions. The scientists concluded that adopting the latest developments in low-c... |
MPS urges UK government to invest15 November 2023, Published under Cement NewsAhead of the UK Government’s Autumn Statement on 22 November 2023, the Mineral Products Association (MPA) has written to the chancellor of the exchequer, Jeremy Hunt, urging the government to invest in Britain’s infrastructure rather than accepting a managed decline. Prompted by the government’s decision to cancel Phase 2 of the rail project, HS2, compounding already poor delivery of UK infrastructure projects (including Road Investment Strategies 1 and 2), the MPA’s letter sets out h... |
CRH and Volvo collaborate on net zero15 November 2023, Published under Cement NewsCRH and Volvo Group have signed a Memorandum of Understanding (MoU) to accelerate net-zero innovations in the design and deployment of on-road vehicles and off-road equipment used in the construction industry. According to the companies, the MoU will focus on next-generation technology deployment, scaling cutting-edge technology, and operational efficiency. Both companies are on ambitious journeys to reduce emissions. Volvo Group’s target is to have 35 per cent fully-electric sales by... |