Economy & Market

Colombia’s Cementos Argos to buy out US cement companies

Published

14 years ago

May 31, 2011

admin

Cementos Argos SA, Colombia’s largest cement company plans to purchase several cement plants in South Carolina, Alabama and Georgia. The company entered the US market in 2005, and would become the fourth-largest ready mix producer in the US after it completes the purchase of the plants that it is buying from France’s Lafarge SA. Argos will finance the purchase through a bank loan and cash it has from selling its stake last year in a holding company. "Argos will also sell the portfolio assets that are unrelated to its core cement business", Jose Velez, chief executive, Cementos Argos SA said without giving more details. The purchase of some of Lafarge’s assets will bring Argos’s US investments to nearly $1.5 billion over the last five years. The Colombian company could start considering other acquisitions in 2012 once it finishes integrating the Lafarge plants, Velez added. The company’s US assets are concentrated in the Southeast, a region which Velez said could see strong growth in the construction industry in the next few years. The purchase, which is still subject to the approval of US regulators, will bring Argos’s installed capacity in the US to 3.2 million metric tonnes of cement and about 10 million cubic meters of ready mix per year. The increased reliance on dollar-denominated income has not directly affected the company’s balance sheet despite the strength of the Colombian peso against the dollar, Velez said. "Because of the weakness of the dollar most of our inputs are cheaper now," which helps offset the impact of the peso’s appreciation on dollar revenue, he said. "The net impact of the appreciation is really zero at this time," Velez added.

Concrete

thyssenkrupp Polysius, SaltX partner for electrified production

Published

1 day ago

March 12, 2025

admin

thyssenkrupp Polysius and Swedish startup SaltX have signed a Letter of Intent (LOI) to co-develop the next generation of electrified production facilities, advancing industrial decarbonisation. Their collaboration will integrate SaltX’s patented Electric Arc Calciner (EAC) technology into thyssenkrupp Polysius’ green system solutions, enabling electric calcination, replacing fossil fuels with renewable energy, and capturing CO2 for emission-free production. Dr Luc Rudowski, Head of Innovation, thyssenkrupp Polysius, emphasised that this partnership expands their portfolio of sustainable solutions, particularly in cement, lime, and Direct-Air-Capture (DAC). Lina Jorheden, CEO, SaltX, highlighted the significant CO2 reduction potential, reinforcing their commitment to sustainable industrial processes.

Concrete

Terra CO2 secures $82m to scale low-carbon cement technology

Published

1 day ago

March 12, 2025

admin

Terra CO2, a US-based sustainable building materials company, has raised $82 million in Series B funding, co-led by Just Climate, Eagle Materials and GenZero, with continued support from Breakthrough Energy Ventures. The investment will accelerate the commercial deployment of Terra’s OPUS technology, enabling the construction of multiple production facilities across North America and Europe. With the cement industry responsible for 8 per cent of global CO2 emissions, Terra’s solution provides an immediate, scalable alternative using abundant raw materials that integrate seamlessly with existing infrastructure. The company has secured key partnerships, including a deal with Eagle Materials for multiple 240,000-tonne plants.

Concrete

Titan Cement Group enters South Asia

Published

1 day ago

March 12, 2025

Roshna

Titan Cement Group has expanded into the South Asian market through a joint venture with JAYCEE, an India-based producer of supplementary cementitious materials. Titan will hold a majority stake in the newly formed company, Atlas EcoSolutions, which will focus on sourcing, processing, marketing, and distributing SCMs globally. This initiative aims to support sustainable construction by promoting alternatives to clinker-based cement. Jean-Philippe Benard, Head of Supply Chain and Energy Development, emphasised that the venture aligns with Titan’s strategy to lead in low-carbon building materials while reinforcing its commitment to sustainability and innovation. The move strengthens Titan’s position in a high-growth market while ensuring long-term access to SCMs.