December 24 Edition - Welcome

The Cement Executive: Your go-to resource for expert insights, emerging market trends, and strategic developments shaping the cement industry.

Welcome to the first edition of the Cement Executive - a continuation of a long running, monthly newsletter delivered directly to over 1,000 leaders from within the cement and heavy materials industry.

Due to popular demand, we will now be rebranding the Cement Newsletter to 'The Cement Executive', a LinkedIn based newsletter designed to give an executive overview of all major developments across the sector. This information is now available to anyone working across the sector who want's to keep informed.

What you can expect

The Cement Executive will naturally evolve to reflect the most interesting developments from across the sector, however you can expect the following topics to be covered each month.

1. Movers and Shakers (The big leadership appointments, replacements or wider organisational structure changes )
2. M&A (Acquisitions, divestments and inorganic growth initiatives)
3. Innovation (A look into some of the new technologies, or achievements of new initiatives pioneering the cement industry)
4. Leadership Insights (Handpicked Beaumont Bailey insights, co-cocreated with leadership from across the sector)
5. Industry Reads (Articles, reports or insights generated from the top minds of the industry which you may have missed)
6. The Lighter Side of Cement (A collection of heart-warming and amusing stories from within the sector)

Movers and Shakers

November typically sees fewer major leadership changes, and this year was no exception. This trend aligns with the fact that new leaders often have limited opportunities to make an immediate impact during a period when operations tend to slow down for the holidays. Additionally, many organisations prefer to avoid making such announcements during this time, aiming to minimise unnecessary stress for employees who might worry about potential instability. Despite this general slow down, there was one notable appointment worth highlighting.

Eric Bourdon Appointed as Chari of the European Cement Research Academy

ERIC BOURDON has been officially announced as Chairman at the European Cement Research Academy (ECRA). For those unfamiliar, ECRA - The European Cement Research Academy is a globally respected research body dedicated to advancing sustainable cement and concrete technologies. It comprises over 40 leading cement producers worldwide and is known for pioneering initiatives such as the CCS project (2007) and the Future Grinding Technologies project (2014).

Bourdon's appointment marks a significant milestone for the Academy. With his extensive technical expertise and strategic insight, he is well-equipped to guide the group's efforts. Currently serving as Deputy CEO, Head of Industry, and Chief Climate Officer of Vicat - a company renowned for its proactive approach to sustainability - Bourdon brings a proven track record of leadership and innovation to his new role.

Mergers & Acquisitions

Summit Materials to Be Acquired by Quikrete Holdings in $11.5 Billion Deal

This months standout acquisition is the definitive agreement between Quikrete and Summit Materials . Building on the initial announcement of intent made in late October, Quikrete has agreed to purchase Summit in a deal expected to be worth $11.5bn.

With this acquisition, Quikrete, one of the leading ready-mix producers in all of North America, gains an extensive network of quarries and production operations covering aggregates, cement and ready mix. Summit has been famous for the rate of acquisitions over the last few years, carefully crafting a competitive portfolio of land and raw material. You may recall it was only earlier this year that Summit completed a combination with Argos USA .

The deal combines Summit’s expertise in aggregates, cement, and ready-mix concrete with Quikrete’s renowned concrete and cement-based products to form a vertically integrated construction materials powerhouse across North America. The transaction is set to close in the first half of 2025, pending shareholder and regulatory approvals

Leadership from both companies praised the deal, emphasising the complementary nature of their businesses and shared commitment to safety and innovation. “This agreement delivers significant and certain cash value to our shareholders while opening new opportunities for our team and customers,” said Anne Noonan , president and CEO of Summit Materials. William Magill , Quikrete’s CEO, expressed excitement for the collaboration, calling Summit “a recognised leader” with a strong portfolio and talented team. Upon completion, Summit will operate as a privately held subsidiary of Quikrete, with its common stock delisted from the NYSE.

Heidelberg Materials to Acquire Giant Cement Holding in $600 Million Deal

Heidelberg Materials North America has announced a definitive agreement to acquire GCHI Giant Cement Holding, Inc. , a cement producer on the US East Coast with a focus on waste-derived fuels. The $600 million acquisition includes a cement plant in South Carolina with an annual capacity of 800,000 tonnes, five distribution terminals across South-eastern US and New England, two deep-water import terminals, and Giant Resource Recovery, an alternative fuel recycling business. The deal is set to enhance Heidelberg’s footprint in key US markets while advancing its circular economy and decarbonisation efforts.

Leadership highlighted the strategic benefits of the acquisition. “This move strengthens our cementitious footprint and supply network in growing markets,” said Chris Ward , CEO of Heidelberg Materials North America. Chairman Dr Dominik von Achten emphasised the alignment with Heidelberg’s sustainability goals, positioning the company as a leader in net-zero and circular economy initiatives. Expected to close in Q1 2025, the transaction is projected to contribute $60 million in EBITDA in its first year, with additional synergies anticipated. This marks another milestone in Heidelberg’s recent expansion across North America.

Innovation

CarbonCure Achieves Major Milestone in CO? Reduction

CarbonCure Technologies , a leading climate tech company, has announced it has successfully saved over 500,000 tonnes of CO? across 7.5 million truckloads of concrete. The company’s innovative technology injects captured CO? into fresh concrete, where it is mineralised and permanently stored, enabling concrete producers to reduce cement use while maintaining strength. This approach provides environmental benefits by lowering the CO? footprint and cost savings through reduced cement consumption, with claims that every tonne of CO? mineralised can prevent an additional 50 tonnes of emissions through cement adjustments.

Cemex Launches Pioneering Low-Carbon Hydrogen Project with HiiROC

Cemex Ventures has announced the deployment of low-carbon hydrogen technology at its Rugby cement plant in the UK, marking a key milestone in the company's decarbonisation journey. Partnering with British hydrogen company HiiROC , the project leverages Thermal Plasma Electrolysis (TPE) to produce clean hydrogen with just 20% of the electricity needed for water electrolysis, capturing carbon as a solid by-product. The hydrogen will serve as an alternative energy source for clinker production, supporting Cemex’s 2050 net-zero CO? goal and reducing its reliance on fossil fuels.

TITAN Launches Digital Accelerator to Drive Innovation in Building Materials

TITAN Cement Group , in partnership with Centre for Research & Technology Hellas (CERTH) and the International Hellenic University , has launched the "TITAN Digital Accelerator" in Thessaloniki, Greece. This initiative focuses on leveraging cutting-edge technologies, including IoT, digital twins, robotics, AI, and cybersecurity, to revolutionise the building materials industry. By fostering collaboration between industry leaders, top researchers, and academic institutions, the accelerator aims to position Thessaloniki as a hub of digital innovation in Southeast Europe while showcasing Greece’s expertise in advancing a knowledge-based economy.

Funded by TITAN Group, with contributions from CERTH and IHU in infrastructure and expertise, the accelerator will develop transformative projects such as robotic and drone-based industrial inspections, GenAI applications, and tools to automate manufacturing and logistics processes.

Leadership Insights

This months selected highlight is a piece looking into the reality of Commercialising Decarbonisation in Building Materials.

The cement industry is responsible for 8% of global CO2 emissions, and the sector is under increasing pressure to decarbonise. Despite growing innovation and new technologies, the adoption of low-carbon solutions remains slow due to factors like high costs and market uncertainty. To accelerate adoption, successful companies focus on strong sales leadership, easy-to-adopt solutions, clear value beyond sustainability, and engaging the entire supply chain. This guide offers key strategies for improving commercial outcomes in sustainable building products and solutions, aiming to drive growth and market acceptance in a competitive, evolving industry.

Industry Reads

The future cement industry: A cementitious ‘golden age’?, by McKinsey & Co.

Read more

An excellent report by McKinsey & Company, showcasing the remarkable pace of innovation and progress within the cement industry. It stands as a testament to the tremendous efforts of these organisations in tackling one of the most pressing climate challenges: decarbonising the world's most carbon-intensive industry.

What will the next Trump presidency mean for the cement sector?, By Global Cement

Read more

Jacob Winskell of Global Cement Magazine, offers some interesting insights into what the election of Donald Trump could mean for the cement industry.

The Lighter side of Cement

We round off this month's Cement Executive with a lighter story and unique initiative coming out of Borneo.

Borneo Cement Sabah has stated that it's upcoming integrated cement plant, set to begin production in 2025, is to be converted into a tourist attraction, displaying limestone processing and environmental protection practices to the public.

The local ecosystem, rich in a variety of flora and fauna (and limestone), will be maintained without pollution from the plant, and will also feature a research hub for Malaysian universities.

The combination for me highlights a positive look to the future of the industry, prioritising harmony with nature.

Questions surrounding any of the topics covered in this newsletter, or looking to expand your network? Feel free to reach out to [email protected]

About the Author

Cobi David Busst is an executive head-hunter specialising in the North American and European Heavy Industrials and Building Materials sectors. His client portfolio features many of the world’s largest cement and building materials organisations, where he supports critical leadership placements at VP, SVP, and Board levels.

Engaging daily with top executives across the industry, Cobi leverages these conversations to craft insightful content on a wide array of topics, reflecting real-time trends and future predictions. His thought leadership is widely recognised, and he is a regular contributor to leading industry publications, including Global Cement Magazine, where he shares expertise on leadership and market dynamics.