Sources: HeidelbergCement AG, Germany; CP staff
HeidelbergCement is the premier cement, aggregate and concrete operator to validate its carbon dioxide emissions reduction commitment over the next decade against Science Based Targets initiative (SBTi) criteria. As part of its 2030 Sustainability Goals for global operations, the producer aims to reduce net CO2 and other greenhouse gas (GHG) emissions by 30 percent against 1990 baseline levels.
Read MoreSources: HeidelbergCement AG, Germany; CP staff
A HeidelbergCement Managing Board succession plan will see an early-2020 C suite shift for the North American and European businesses: Jon Morrish, chief executive officer of Texas-based Lehigh Hanson Inc., will head Western and Southern Europe cement, aggregate and concrete operations; successor Chris Ward will transition from his post as Canada Region president. A U.K. native who joined Hanson Plc in 1999, Morrish led the Lehigh Hanson South Region ahead of taking the helm in 2015. Ward has progressed in various management roles since joining Hanson Building Materials America in 1996.
Read MoreSources: HeidelbergCement AG, Germany; CP staff
Lehigh Portland Cement parent HeidelbergCement envisions $1.8 billion to $2.4 billion in acquisitions over the next three years, backed by $1.2 billion to $1.8 billion in non-core asset sales, plus savings realized from continuous efficiency improvements across global cement, aggregates and ready mixed concrete businesses. Driving those improvements are digital platform implementation in operations, maintenance, logistics and purchasing.
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Cemex USA and Rinker Materials veteran Karl Watson Jr. has joined Denver-based Summit Materials as executive vice president and chief operating officer, succeeding Douglas Rauh. He arrives at the ready mixed, cement, aggregates and asphalt producer with 25-plus years in construction materials, most recently serving as president of Martin Marietta Materials’ Cement & Southwest Ready Mix business.
Read MoreSt. Louis-Breckenridge Material Co. and Eastern Missouri Concrete have entered a partnership with CarbonCure Technologies in Halifax, N.S. The ready mixed producers will install equipment injecting carbon dioxide into concrete loads, where the gas converts to a solid mineral in the matrix and improves compressive strength development.
Read MoreSources: HeidelbergCement AG, Germany; CP staff
Lehigh Hanson parent company HeidelbergCement estimates a €200 million ($240 million) charge against net 2017 profit due to accounting measures stemming from the Tax Cuts and Jobs Act —the sweeping tax reform President Donald Trump signed into law late last year. The law reduces the federal corporate tax rate from 35 percent to 21 percent, but requires companies like HeidelbergCement to recalculate loss carried-forwards and deferred tax assets on losses in their consolidated 2017 financial statements. The one-time action will not impact earnings before tax or cash flow in 2017, HeidelbergCement notes, adding that the new U.S. tax rate will positively affect group net profit and cash flow beginning in 2019.
Read MoreSources: Forterra Inc., Irving, Texas; CP staff
Delaware Court of Chancery has granted Forterra attorneys’ motion to dismiss a lawsuit that HeidelbergCement AG affiliates had filed over earn-out contingency fees tied to the $1.2 billion sale of the former Hanson Building Materials. Terms called for buyer Lone Star Fund IX (U.S.), L.P. to pay an additional sum for the 67-plant business, up to $100 million, depending on fiscal 2015 EBITDA (earnings before interest, taxes, depreciation and amortization) thresholds.
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Germany’s HeidelbergCement Group has added a decade to the horizon of its Sustainability Ambitions 2020 program. The six-point successor centers on reducing carbon dioxide emissions 30 percent from 1990 levels; steering 80 percent of the research & development budget to sustainable products; increasing natural resource substitution with by-products or recycled materials; and, eliminating lost-time accidents.
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Sources: HeidelbergCement AG, Germany; CP staff
HeidelbergCement has added a decade to the horizon of its Sustainability Ambitions 2020 program, whose six-point successor centers on reducing carbon dioxide emissions 30 percent from 1990 levels; steering 80 percent of the research & development budget to sustainable products; increasing natural resource substitution with by-products or recycled materials; and, eliminating lost-time accidents.
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Completion of a $4 billion merger involving Essroc Cement Corp. and sister Italcementi S.p.A. businesses, improved financials and credit ratings, plus declining energy costs, support especially positive investor guidance for the parent company of Lehigh Hanson, Inc. “2016 was an exceptional year,” affirms HeidelbergCement AG Chairman Dr. Bernd Scheifele. “With the successful takeover of Italcementi, we have accelerated our growth and are now in an excellent strategic position.”
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