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Trinidad Cement buyout: CEMEX faces resistance from management

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Shareholders of Trinidad Cement Limited (TCL) are being urged to reject an offer by Mexican-based cement giant, CEMEX, to take over the company.
CEMEX had earlier announced plans to take over TCL.
But in a circular, the TCL board of directors has recommended that shareholders reject the TT$4.50 (One Tt dollar = US$0.16 cents) per share takeover bid, noting that the offer price does not reflect the "full commercial value of TCL."
The board argued that the shares of the company have a greater value than the offer price of TT$4.50, which it said was "not fair, from a financial point of view, to the shareholders".
Last week, former TCL Chief Executive Officer, Dr Rollin Bertrand, accused the Mexican-based cement giant of trying to engineering a takeover of the local cement manufacturer since 2014.

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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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