Displaying items by tag: growth

US: CarbonQuest has secured US$20m in funding to scale its modular CO₂ capture system. ESG Today News has reported that the funds will help the company to explore additional markets. It currently has systems deployed at six sites in New York City, where it supplies captured CO₂ to local precast concrete producers for sequestration in concrete blocks.

UK: Akela Group subsidiary Akela Ground Engineering has appointed John Ward as its Precast Concrete Manager to support an expansion of the Glasgow, Scotland-based company’s production footprint into England. Ward will be based between Akela Ground Engineering’s offices in Glasgow and Swadlincote, England, and will have a special focus on sourcing a manufacturing base for the company’s ABeam precast concrete elements, currently produced in Glasgow.

The Scotsman newspaper has reported that Ward brings over 35 years of managerial experience, including at Green Piling, Centrum Pile, Aarsleff Ground Engineering UK and DEL Piling.

UK: A&L McCrae has commissioned its second ready-mix concrete batching plant at Barrachander quarry in Argyll, Scotland. West Coast Today News has reported that the producer already operates five aggregates sites. It employs 21 people in its ready-mix concrete business, and is seeking to hire 15 more.

A&L McCrae says that its next move will be to establish a third ready-mix concrete plant at Achnaba quarry in Lochgilphead.

Spain: The National Association of the Precast Concrete Industry (ANDECE) has reported a 9% year-on-year rise in the total number of projects to use precast concrete during 2024. The association attributed this to ‘positive trends’ in construction activity during the final four months of the year.

Costa Rica: Cementos Progreso has commenced operations at its new US$1m West concrete plant at its El Coyol de Alajuela site. 12 permanent workers will be employed at the plant.

US: Precast concrete group Alcrete has acquired South Carolina-based Benton Precast. Benton Precast occupies a 6.9-hectare precast concrete production site near Conway, South Carolina.

Alcrete says that the move represents its third acquisition in 2024 to date. The group already operates precast plants in Alabama, Florida, Kentucky and North Carolina.

US: Equity firm Cordatus Capital has completed an investment in Texas-based Titan Ready Mix. Titan Ready Mix produces ready-mix concrete in Cresson, Springtown and Venus to supply the Dallas-Fort Worth Metroplex area. Cordatus Capital says that it aims to accelerate the producer’s regional expansion, including through potential new acquisitions in North Texas.

Cordatus Capital partner Kevin Lippincott said "Although Titan is a relatively new entrant in the Dallas-Fort Worth ready-mix market, CEO Danny Paterson and chief operating officer Jeremy Briggs have already helped position it as the standard for delivering consistent, quality product on time and at fair value."

Taiwan: Chongqing La Rui Yonggu Concrete has loaned US$2.91m to fellow Yonggu Group subsidiary Chongqing Taihong New Building Materials. Chongqing La Rui Yonggu Concrete informed the Taiwan Stock Exchange that the finances are intended to support the working capital needs of Chongqing Taihong New Building Materials.

US: Heidelberg Materials North America has acquired aggregates and asphalt producer Highway Materials. Highway Materials is based in Philadelphia, Pennsylvania, and operates four stone quarries, a concrete recycling facility and other assets, with 350 employees. Heidelberg Materials previously acquired Texas-based aggregates producer Victory Rock and concrete recycling company Aaron Materials earlier in July 2024. The deals advance Germany-based Heidelberg Materials’ strategy of growth through small-to-medium-sized synergistic bolt-on acquisitions. The combined value of the acquisitions is US$380m, with anticipated earnings synergies of US$50m.

Heidelberg Materials North America president and CEO Chris Ward said “We are excited to further expand our footprint in two of the fastest-growing areas in the US. The addition of these operations complements our existing aggregates businesses in Texas and Pennsylvania, while also adding to our rapidly growing portfolio of circular solutions across North America.”

Heidelberg Materials chair Dominik von Achten said “These latest US acquisitions reflect the progress of our ongoing efforts to optimise our portfolio by expanding our presence in this key region. We will continue on our growth trajectory in our key markets around the globe, while pursuing the industry’s most ambitious sustainability goals.”

US: Cemex USA has entered into a joint venture for the production and distribution of aggregates in the Mid-South region with Couch Aggregates and Premier Holdings. Cemex USA has a pre-existing strategic partnership with Couch Aggregates. The group says that the vertical integration of this, along with Premier Holdings’ Gulf Coast marine terminals, will accelerate its regional growth. Cemex aims to raise the total US contribution to its earnings before interest, taxation, depreciation and amortisation (EBITDA) from 29% to 40% in the ‘medium-term’ future.

President Jaime Muguiro said "This joint venture will create significant opportunities for both parties by utilising vertical integration and leveraging each other's capabilities for growth. We remain committed to increasing our capacity to serve the US market with more sustainable and innovative solutions."

Cemex USA’s Mid-South region covers 27 ready-mix concrete plants in Alabama, 24 in Georgia, 11 in Tennessee and one in Virginia, and aggregates sites in Alabama, Georgia and South Carolina.