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Jiangxi Wannianqing Cement to issue shares

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Jiangxi Wannianqing Cement intends to raise CNY 692 million by issuing 65 million shares at CNY 10.64 per share. Of the total money raised, CNY 500 million will be used to supplement its working capital and acquire a 50 per cent stake in Jinxi Cement. The remaining funds will go to a thermal power project and the construction of two cement mixers. Since Nanfang Wannianqing Cement, Jiangxi Wannianqing Cement subsidiary also holds a 50 per cent stake in Jinxi Cement, Jiangxi Wannianqing will be entitled to 75 per cent of Jinxi Cement’s net profit after the acquisition. Jinxi Cement posted a net profit of CNY 29.97 million in 2009 and CNY 25.81 million for the first nine months of 2010.

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Concrete

Holcim UK drives sustainable construction

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Holcim UK has released a report titled ‘Making Sustainable Construction a Reality,’ outlining its five-fold commitment to a greener future. The company aims to focus on decarbonisation, circular economy principles, smarter building methods, community engagement, and integrating nature. Based on a survey of 2,000 people, only 41 per cent felt urban spaces in the UK are sustainably built. A significant majority (82 per cent) advocated for more green spaces, 69 per cent called for government leadership in sustainability, and 54 per cent saw businesses as key players. Additionally, 80 per cent of respondents stressed the need for greater transparency from companies regarding their environmental practices.

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Concrete

GCCA releases LCR system

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The Global Cement and Concrete Association (GCCA) has launched the Low Carbon Ratings (LCR) system for cement and concrete, a new global rating based on products’ carbon footprints. The system uses a clear AA to G scale to help customers prioritise sustainability in material selection across construction sectors worldwide. The GCCA says that the LCR system is designed to be easily recognisable, with a simple visual graphic that indicates a product’s rating and provides consistency and comparability to other products.

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Concrete

FLSmidth opens eco-friendly plant in Casablanca

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FLSmidth has inaugurated a €21 million mill liner manufacturing plant in Casablanca, covering 11,250m² with a production capacity of 6,500 tonnes annually. The LEED-certified facility significantly reduces carbon emissions by up to 56 per cent and fully recycles water used in the manufacturing process. Up to 250 jobs will be created in the Valparaíso region. Mikko Keto, CEO, highlighted the plant as a symbol of FLSmidth’s commitment to sustainable mining and community engagement in South America. Earlier in 2024, the Denmark-based company announced plans to sell its cement division to sharpen its focus on mining operations.

 

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