Cement News tagged under: Saint-Gobain
Fortera's low-carbon cement secures US$85m in funding21 October 2024, Published under Cement NewsFortera, the Silicon Valley developer of the ReCarb process, where CO 2 from cement or other industrial emissions is mineralised and converted to concrete ReAct binder agents, has secured US$85m in Series C funding. This funding is to pursue additional plant installations after this year’s charter facility deployment at the CalPortland Co mill in Redding, California. Fortera reports investment from previous investors Khosla Ventures and Temasek, plus first time investments from Wollemi Capi... |
Saint-Gobain signs electricity supply agreement with TotalEnergies09 October 2024, Published under Cement NewsSaint-Gobain has signed a Power Purchase Agreement (PPA) with TotalEnergies to supply renewable electricity to Saint-Gobain’s French industrial facilities. It will take effect from January 2026 for a total volume of 875GWh over a period of five years. TotalEnergies will provide Saint-Gobain with a caseload supply of electricity and guarantees of origin for that amount of power. This will all be produced by TotalEnergies’ wind and solar plants based across France. Swaroop Srinath, energy... |
Saint-Gobain presents 1H24 financial results29 July 2024, Published under Cement NewsSaint-Gobain has released its 1H24 results. The consolidated financial status was reviewed by the statutory auditors and adopted by the Board of Directors on 25 July. The operating income was recorded as EUR2.75bn (US$2.98bn), compared to EUR2.8bn in 1H23, marking a 2.2 per cent YoY decrease. EBITDA came in at EUR3.6bn, close to its all-time high saw but a 2.3 per cent YoY decrease from EUR3.7bn. While Saint-Gobain expects some of its markets to remain difficult over the year overall,... |
Saint-Gobain completes CSR acquisition16 July 2024, Published under Cement NewsSaint-Gobain has completed its acquisition of CSR Ltd (CSR), establishing a strong presence in the Australian construction market. CSR is a leading player in building materials in Australia, consisting principally of building products with AUD1.9bn (US$1.28bn) in sales and an EBITDA margin of around 18 per cent for the fiscal year ending 31 March 2024, with some of Australia’s most trusted and iconic brands. According to Saint-Gobain, the acquisition fits extremely well with the company’s ... |
Saint-Gobain to acquire FOSROC28 June 2024, Published under Cement NewsSaint-Gobain has entered into a definitive agreement to acquire FOSROC, a leading privately-owned global construction chemicals player for US$1025m in cash. Following the acquisitions of Chryso in 2021, GCP in 2022 and 33 additional acquisitions since 2021, this move is a new strategic step in establishing Saint-Gobain’s worldwide presence in construction chemicals, which will have combined sales of EUR6.2bn across 73 countries following the acquisition (pro forma). FOSROC is a global ... |
Saint-Gobain announces new directors10 June 2024, Published under Cement NewsSaint-Gobain has announced the appointment of three new independent directors. The directors are Sophie Brochu, former chairman and chief executive officer of Hydro-Québec (Canada), Hélène de Tissot, chief financial officer of Pernod Ricard Group, and Geoffroy Roux de Bézieux, entrepreneur. The company has also approved the renewal of Jean-François Cirelli as a director and reiterated its unanimous decision taken in November 2023 to combine the functions of chairman and chief executive... |
Saint-Gobain continues Canadian expansion05 June 2024, Published under Cement NewsSaint-Gobain has completed its acquisition of the Bailey Group, a privately-owned manufacturer of metal frames for light construction in Canada. This forms part of Saint-Gobain’s expansion in the sustainable construction sector in Canada. Founded 75 years ago, the Bailey Group posted revenue of CAD532m (US$389m) in 2023 and operates 12 manufacturing plants across the country. According to Saint-Gobain, the acquisition ensures it is “ well positioned to better serve Canadian custome... |
Saint-Gobain signs Romanian energy deal06 May 2024, Published under Cement NewsSaint-Gobain has signed a five-year renewable electricity supply agreement (power purchase agreement or PPA) in Romania with energy supplier OMV PETROM SA. The contract covers the purchase of green electricity from wind and photovoltaic sources provided by OMV PETROM SA and will start in January 2026. OMV PETROM SA will provide around 800GWh of green electricity for a period of five years. This contract, combined with a photovoltaic park currently in the final stage of development at ... |
Saint-Gobain sales slip 6% in 1Q2429 April 2024, Published under Cement NewsSaint-Gobain has reported total group sales of EUR11,356m in the first quarter of 2024, down 5.8 per cent from EUR12,406m in the same period a year earlier. According to the company, the decline was due to a contraction in new construction in Europe, but supported by growth in the Americas and Asia-Pacific. Volumes also fell, down 4.7 per cent YoY, while prices slipped 1.1 per cent. In northern Europe sales declined 11 per cent YoY in the 1Q24, coming in at EUR2779m. Volumes saw a 9.3 ... |
Saint-Gobain acquires Canada-based Bailey Group09 April 2024, Published under Cement NewsSaint-Gobain has entered into a definitive agreement for the acquisition of The Bailey Group Companies, consisting of Bailey-Hunt Ltd and its subsidiaries, a privately owned manufacturer of metal building solutions for light construction in Canada, for CAD880m (US$651.8m) in cash. Bailey is a leading player in metal framing in Canada, posting sales of CAD532m in 2023. With a 75-year history, it operates 12 manufacturing plants across Canada and has been a long-standing partner of Saint... |