A court has accepted a request by the Prosecutor General’s Office to drop a claim for the appropriation of Russian assets of Germany-based Heidelberg Materials by the Russian government. The assets include shares in cement producers HeidelbergCement Rus and Shale Cement Plant Cesla, as well as minerals producers Gurovo-Beton and Syryevaya Kompaniya. A lawyer for
The Hungarian government recently enacted Emergency Decree 320/2023, taxing all CO2 emissions from the country’s 40 or so largest industrial enterprises. The government used emergency powers to set up a new taxation scheme, which undercuts existing free allowances under the EU emissions trading scheme (ETS). The scheme additionally penalises the trade in ETS credits. Cement producers announced that
Buzzi’s revenues rose by 14% year-on-year in the first half of 2023, to Euro2.15bn from Euro1.88bn in the first half of 2022. This was despite an 8.3% decline in its sales and volumes of cement and clinker, to 5.12Mt from 5.83Mt. The group recorded a rise in its earnings before interest, taxation, depreciation and amortisation
The Bangladesh Cement Manufacturers Association (BCMA) has called for a 60% cut to duties on clinker imports, to US$1.84/t from US$4.61/t. The Financial Express newspaper has reported that BCMA members are struggling with high shipping costs and supply issues due to Russia’s war in Ukraine. The Bangladesh government published plans to raise the duty on
Buzzi Unicem reduced its specific gross scope 1 CO2 emissions by 4% year-on-year to 664kg/t cementitious product in 2022 from 689kg/t in 2021. As part of its Sustainability Report for 2022 it revealed that specific CO2 emissions varied from a low of 500kg/t in Luxembourg to a high of 812kg/t in Ukraine. Its specific thermal consumption fell
The US Department of State has imposed sanctions upon USM Holding including its subsidiaries Akkermann Cement and USM Cement in Russia, and Akhangarancement in Uzbekistan. The action is intended to target company owner Alisher Burhanovich Usmanov and his various business interests. Other USM companies in the iron, steel, copper, gold, telecommunications and real estate sectors