Latest news with #HeidelbergMaterials
Business Insider
3 days ago
- Business
- Business Insider
Morgan Stanley Sticks to Its Hold Rating for Heidelberg Materials (0MG2)
In a report released on May 29, Cedar Ekblom from Morgan Stanley maintained a Hold rating on Heidelberg Materials (0MG2 – Research Report), with a price target of €148.00. Confident Investing Starts Here: Ekblom covers the Industrials sector, focusing on stocks such as Buzzi SpA, DHL Group, and Heidelberg Materials. According to TipRanks, Ekblom has an average return of 5.3% and a 56.40% success rate on recommended stocks. In addition to Morgan Stanley, Heidelberg Materials also received a Hold from UBS's Marcus Cole in a report issued on May 28. However, yesterday, Berenberg Bank maintained a Buy rating on Heidelberg Materials (LSE: 0MG2). Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is neutral on the stock.
Washington Post
4 days ago
- Business
- Washington Post
The Department of Energy axes $3.7 billion in clean energy project grants
Energy Secretary Chris Wright said Friday he canceled nearly $4 billion in project grants, in another massive blow to clean energy and greenhouse gas emissions reduction efforts in the U.S. under President Donald Trump's administration. The grants, largely awarded during former President Joe Biden's final few months in the White House, were primarily for programs to capture carbon emissions and store them underground. Other targeted efforts span cleaner cement, natural gas and more. Some of the 24 canceled awards include $500 million to Heidelberg Materials US, Inc.; $375 million to Eastman Chemical Company; $95 million to Nevada Gold Mines, LLC; and $270 million to Sutter CCUS, among others, according to a list provided by the Department of Energy. Sublime Systems, which lost an $87 million grant, was 'surprised and disappointed,' the company said in a statement. 'Today's action is bad for U.S. competitiveness in the global market and also directly contradictory to the administration's stated goals of supporting energy production and environmental innovation,' said Conrad Schneider, a senior director at the Clean Air Task Force. It 'undercuts U.S. competitiveness at a time when there is a growing global market for cleaner industrial products and technologies.' The news was a swift follow-up to plans the Energy Department announced earlier this month to review 179 funded projects, totaling over $15 billion, that were awarded by the Office of Clean Energy Demonstrations created under the 2021 bipartisan infrastructure law. It is part of Wright's pledge to ensure 'responsible' spending — aligning with the government's broader efficiency and cost-cutting measures, such as those recommended by the Department of Government Efficiency, which has significantly impacted federal research, workers and agencies. 'While the previous administration failed to conduct a thorough financial review before signing away billions of taxpayer dollars, the Trump administration is doing our due diligence to ensure we are utilizing taxpayer dollars to strengthen our national security, bolster affordable, reliable energy sources and advance projects that generate the highest possible return on investment,' Wright said in Friday's statement. Moreover, the announcement marks the latest of the administration's attacks on clean energy, broadly, and its effort to slash federal support for projects addressing climate change. The Trump administration has taken an ax to Biden-era environmental ambitions, rolled back landmark regulations, withdrawn climate project funding, and instead bolstered support for oil and gas production in the name of an 'American energy dominance' agenda. Steven Nadel, executive director of the American Council for an Energy-Efficient Economy, called the news 'shortsighted.' Carbon capture has been a controversial climate solution , as skeptics say it enables the continued burning of fossil fuels oil, coal and natural gas that emit planet-warming greenhouse gases — including carbon dioxide — and distracts from the need to cut ties with those energy sources altogether. Though investment in the technology has grown, it also remains challenging to scale. Organizations quickly decried the secretary's actions, stressing that the cancelations don't align with the administration's goals to bolster domestic manufacturing or energy independence. Jessie Stolark, the executive director of the nonpartisan Carbon Capture Coalition, said the news 'is a major step backward' for carbon management technologies, which are 'crucial to meeting America's growing demand for affordable, reliable, and sustainable energy.' 'These projects are not just reducing pollution, they are keeping the U.S. on the cutting edge of manufacturing technology,' said Mike Williams, senior fellow on the energy and environment team at public policy and advocacy group the Center for American Progress. 'Canceling these important projects will raise energy prices for consumers and sacrifice thousands of high-quality union jobs, all because the president wants to curry favor with Big Oil.' Evan Gillespie, partner at decarbonization organization, Industrious Labs, said the move dismantles the economy and the future of American manufacturing and its workforce. 'Killing these projects means more emissions, more pollution, and more people getting sick,' he said. ___ Alexa St. John is an Associated Press climate reporter. Follow her on X: @alexa_stjohn . Reach her at . ___ Read more of AP's climate coverage at ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at .
Associated Press
4 days ago
- Business
- Associated Press
The Department of Energy axes $3.7 billion in clean energy project grants
Energy Secretary Chris Wright said Friday he canceled nearly $4 billion in project grants, in another massive blow to clean energy and greenhouse gas emissions reduction efforts in the U.S. under President Donald Trump's administration. The grants, largely awarded during former President Joe Biden's final few months in the White House, were primarily for programs to capture carbon emissions and store them underground. Other targeted efforts span cleaner cement, natural gas and more. Some of the 24 canceled awards include $500 million to Heidelberg Materials US, Inc.; $375 million to Eastman Chemical Company; $95 million to Nevada Gold Mines, LLC; and $270 million to Sutter CCUS, among others, according to a list provided by the Department of Energy. Sublime Systems, which lost an $87 million grant, was 'surprised and disappointed,' the company said in a statement. 'Today's action is bad for U.S. competitiveness in the global market and also directly contradictory to the administration's stated goals of supporting energy production and environmental innovation,' said Conrad Schneider, a senior director at the Clean Air Task Force. It 'undercuts U.S. competitiveness at a time when there is a growing global market for cleaner industrial products and technologies.' The news was a swift follow-up to plans the Energy Department announced earlier this month to review 179 funded projects, totaling over $15 billion, that were awarded by the Office of Clean Energy Demonstrations created under the 2021 bipartisan infrastructure law. It is part of Wright's pledge to ensure 'responsible' spending — aligning with the government's broader efficiency and cost-cutting measures, such as those recommended by the Department of Government Efficiency, which has significantly impacted federal research, workers and agencies. 'While the previous administration failed to conduct a thorough financial review before signing away billions of taxpayer dollars, the Trump administration is doing our due diligence to ensure we are utilizing taxpayer dollars to strengthen our national security, bolster affordable, reliable energy sources and advance projects that generate the highest possible return on investment,' Wright said in Friday's statement. Moreover, the announcement marks the latest of the administration's attacks on clean energy, broadly, and its effort to slash federal support for projects addressing climate change. The Trump administration has taken an ax to Biden-era environmental ambitions, rolled back landmark regulations, withdrawn climate project funding, and instead bolstered support for oil and gas production in the name of an 'American energy dominance' agenda. Steven Nadel, executive director of the American Council for an Energy-Efficient Economy, called the news 'shortsighted.' Carbon capture has been a controversial climate solution, as skeptics say it enables the continued burning of fossil fuels oil, coal and natural gas that emit planet-warming greenhouse gases — including carbon dioxide — and distracts from the need to cut ties with those energy sources altogether. Though investment in the technology has grown, it also remains challenging to scale. Industry decries the news Organizations quickly decried the secretary's actions, stressing that the cancelations don't align with the administration's goals to bolster domestic manufacturing or energy independence. Jessie Stolark, the executive director of the nonpartisan Carbon Capture Coalition, said the news 'is a major step backward' for carbon management technologies, which are 'crucial to meeting America's growing demand for affordable, reliable, and sustainable energy.' 'These projects are not just reducing pollution, they are keeping the U.S. on the cutting edge of manufacturing technology,' said Mike Williams, senior fellow on the energy and environment team at public policy and advocacy group the Center for American Progress. 'Canceling these important projects will raise energy prices for consumers and sacrifice thousands of high-quality union jobs, all because the president wants to curry favor with Big Oil.' Evan Gillespie, partner at decarbonization organization, Industrious Labs, said the move dismantles the economy and the future of American manufacturing and its workforce. 'Killing these projects means more emissions, more pollution, and more people getting sick,' he said. ___ Alexa St. John is an Associated Press climate reporter. Follow her on X: @alexa_stjohn. Reach her at [email protected]. ___ Read more of AP's climate coverage at ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
Reuters
7 days ago
- Business
- Reuters
Heidelberg Materials expects infrastructure boom to fuel profit growth by 2030
FRANKFURT, May 28 (Reuters) - Heidelberg Materials, the world's second-biggest cement maker, said on Wednesday it expects operating profit growth in the medium-term to 2030 to be driven by five megatrends, including higher defence spending and a growing demand for data centres. The group's result from current operations (RCO) is expected to grow 7-10% on average a year until 2030, the German company said at its capital markets day held at its carbon capture and storage site in Brevik, Norway. Return on invested capital is forecast to rise to around 12% by 2030, from an expected 10% in 2025, the group said, adding its net capital expenditure target would be raised to an average 1.3 billion euros ($1.5 billion) a year, from 1.1 billion previously. Heidelberg Materials CEO Dominik von Achten said that apart from defence and data centre construction, profit growth was also expected to be driven by the global energy transition, infrastructure needs as well as forecast housing boom globally. "These are five decisive waves from which we as a company are benefiting across the board. The demand that is coming in is enormous," he told Reuters, adding the company would continue to focus on heavy building materials such as cement, aggregates, ready-mix concrete and asphalt. Shares in the German construction company have soared by more than half year-to-date, giving it a market value of around 33 billion euros, as investors bank on the group's ability to tap a planned 500-billion-euro investment push by the German government. Von Achten also said there would be a second round of capacity adjustments in Europe by 2030 following a current effort to close five clinker plants on the continent by the end of the year. "The aim is to make a significant leap in margins in Europe. We are removing capacity where production is particularly cost- and CO2-intensive, namely in clinker," von Achten said, adding the group could continue to grow in cement by adding mills to its plant network. ($1 = 0.8835 euros)
The Age
25-05-2025
- General
- The Age
Black cockatoo battle erupts south of Perth as sand mine looms
A battle is brewing in the southern Perth foothills with hundreds of people gathering at the weekend to protest against a sand mine set to clear hectares of banksia woodland in Oldbury. Ian and Dannie Morrow live within 500 metres of the proposed mine, but say their overwhelming concern is the potential destruction of 11.6 hectares of endangered black cockatoo habitat. 'The black cockatoos are struggling. They are coming into the wildlife centres starving, emaciated. They have no food left,' Ian Morrow said. 'When they fly over, the kids put down the iPad and go outside to watch them with us. It stops us in our tracks, they are so amazing; we want this species to endure for our kids and for their children.' Conservationists say the proposed clearing footprint represents vital feeding and roosting grounds for forest red-tailed and Carnaby's black cockatoos, and the Conservation Council of WA has launched a petition against it saying this is a vital ecological corridor between nearby wetlands. The mine has a troubled history, with locals fighting it since 2013. The global company now called Heidelberg Materials (previously known as Hanson Construction Materials/Rocla Quarry Products) had planning permission knocked back by the Serpentine-Jarrahdale Shire, but the shire was forced to back down after the company applied to the State Administrative Tribunal. The state government then issued a native vegetation clearing permit – two months before the federal government declared banksia woodlands a threatened ecological community. Now, both planning and clearing permissions have expired, and the shire has backed its residents by again knocking back planning permission. Another SAT trial will begin in a fortnight, with the shire expecting to fork out up to $50,000 in fees to defend its position.
