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Nobody is mentioning Marshalls is losing market share hand over fist to Irish Manufacturers. Tobermore, for example have got Scotland and the North of England pretty much sown up.
The RMI (domestic) market has taken a battering this year, coupled now with the stalling housing market. So they are in a perfect storm. Recent trading statements from Forterra is probably whats prompted this drop in SP. No confidence in the construction products industry at the moment. Builders merchants, DIY stores and garden centres all reporting poor trading conditions.
Interested to see the numbers for the Marley and Edenhall (Masonry) business. Marshalls have been ruthless with headcount reduction but there is only so many people you can make redundant before it compromises the every day running of the operation.
Carluke plant now closed, new block plant at St Ives behind schedule. Think there will be another plant closure - probably one of the former Edenhall plants. Going to get worse before it gets betters i'm afraid.
I appreciate your enthusiasm but you will be repeating yourself again in 10 years time when KDR duplicate the same updates and you are no further forward than where you are now. That's if they still trading by then. Best of luck to you though.
I was invested here some ten years ago. Fast forward to today and nothing has really changed. Still the same old blurb being published. Feel for any long term holders here.
You're just funding a lavish posh picnic with chums.
You're quite right. Most now bought out by private equity groups. Only a matter of time for Marshalls I fear. Whilst the domestic landscaping market is dead, demand for roof tiles (Marley) and facing bricks (Edenhall) still fairly bouyant so that will help prop up the numbers but for how long? Once there is a downturn in the housing market and developers reduce new build rates then Marshalls are in trouble.
Likely to be based on GGBS instead of Portland cement with a dash of liquid graphene.
Graphene concrete cures extremely quick compared to standard concrete, hence why lot of the big players are now investing in the technology. Breedon Group (BREE) collaborating with another graphene producer. https://www.globalcement.com/news/item/14701-breedon-group-first-graphene-and-others-to-develop-graphene-enhanced-cement
With the domestic market as dire as it is right now I'm expecting redundancies and possible mothballing of manufacturing plants before long.
and inflationary cost pressures are the reason for the drop here. The COVID DIY boom is finished , everyone has done their patio, driveway etc at the time when no one could travel. The biggest competitor to the domestic construction market are travel agents. But now we are in the midst when everyone is tightening their purse strings so having your driveway or patio done won't be high on the priority list and given the choice most people will opt for a holiday if they can afford too.
Marshalls import various traded goods, including porcelain paving and natural stone. Countries of origin include India, China, Vietnam, Turkey and Brazil. Read their Modern Slavery policy for more info.
I got out of RBG back in 2020 just before the massive share dilution. RBG overvalued since then when you look at the history and not helped with it ramped up along the way. Don't expect the SP performance to improve this year.
Inflationary pressures and raw material availability are the issues here. Demand might be high but raw material costs for production have soared for everything from cement and aggregates to plastic strapping and pallets (the list is endless).
If these increases have not been passed into the market in full then profitability will be poor.
In January 2020 when most knew nothing about COVID and before it governed our everyday lives, REVS MCAP was around the £50 mil mark. (before the massive share dilution). Q4 2019 is was around £40 mil.
Today REVS MCAP is £48 mil, so the same before the pandemic took hold. So as yourself is REVS right now in the same financial and trading position as they were before the pandemic?????
All the Ibstock plants (clay and concrete) are running flat out at the moment.
I appreciate the frustration here with the lack of news but as some of you know there are various tests that must be conducted on the concrete mix to ensure it complies with ATSM standards. These will include:
A: Tests on hardened concrete:
• Compressive strength (7 and 28 day – can be up to 3 months)
• Tensile strength: Direct tension;
• Modulus of rupture;
• Density;
• Shrinkage;
• Creep;
• Absorption;
• Freeze/thaw resistance;
• Resistance to aggressive chemicals;
B: Tests on fresh concrete:
• Workability Tests ( Slump Test and others)
• Bleeding;
• Segregation resistance;
• Unit weight;
• Wet analysis;
• Temperature
28 day tests are the most important as that timeline is the gold standard in concrete testing. The fact there has been no news is encouraging because if initial tests, such as those in fresh concrete proved SRES natural pozzolan source was not compatible for use in concrete we would have heard by now.
So no news is good news as far as I’m concerned. GLA
https://www.cleanenergywire.org/news/holcim-says-demand-climate-neutral-concrete-rising-germany
Hoffmann Green Cement Technologies Signs a 3-year Contract With CEMEX
https://www.businesswire.com/news/home/20201011005008/en/Hoffmann-Green-Cement-Technologies-Signs-a-3-year-Contract-With-CEMEX-for-the-Distribution-of-Low-Carbon-and-Clinker-Free-Cements-on-the-Ready-Mix-Concrete-Market
https://www.cemnet.com/News/story/169584/cemex-s-targets-55-fall-in-co2-emissions-in-europe-by-2030.html
https://www.futurenetzero.com/2020/09/18/cemex-and-carbon-clean-to-develop-cost-effective-carbon-capture-tech-for-cement-industry/
This is the kind of deal I expect to see before long. All the major cement producers like Lafarge, Cemex and CRH have ambitious Co2 reduction targets and now they are teaming up with smaller low carbon cement producers to help meet their targets. So incorporating natural pozzolan into cement blends like CEM 2 and CEM 3 fits the bill perfectly.
http://www.msn.com/en-gb/news/newslondon/weed-stocks-surge-after-kamala-harris-vows-to-decriminalise-pot-in-debate/ar-BB19QZoc?ocid=ientp&pfr=1
US-listed shares of major cannabis producers have surged in the wake of Kamala Harris' comments suggesting the drug would be decriminalised at a federal level under a Joe Biden administration.
During Wednesday night’s debate with Vice President Mike Pence , the Democratic vice president nominee said she and her party's presidential nominee Mr Biden would also expunge the criminal records of people convicted of marijuana-related offences in the past.
On Thursday, cannabis stock tracker MJ ETF MJ.P rose 5.5 per cent to mark its best session since early June, while Tilray Inc TLRY.O jumped 19.2 per cent on the Nasdaq.
US-listed shares of Canopy Growth Corp WEED.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO meanwhile closed between 10 per cent and 13 per cent higher.
Although many US states have legalised marijuana use, banks and other traditional financial institutions have so far largely refused to work with the industry as cannabis is still a classified substance at the federal level.
“Access to safe banking will transform the industry, freeing up capital markets for investment and reducing the risk of operating a cannabis business,” said Keith Cich, co-founder of cannabis-related products manufacturer Sunderstorm Inc.
Regulatory issues have also restricted cash availability for companies in the nascent sector at a time when they are struggling with a lack of profitability due to high costs.
"From a business perspective, (decriminalisation) will level the playing field by allowing companies to expense normal operational costs instead of being taxed on gross profit," said Sam Armenia, vice president at producer C21 Investments Inc CXXI.CD.
Ms Harris, who has supported cannabis decriminalisation even before Mr Biden picked her as his running mate, is the lead sponsor of the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act of 2019, which sought to end federal prohibition of marijuana.
Cement giant LafargeHolcim (HCMLY.PK, HCMLF.PK) announced Tuesday that its family of companies in the US has rebranded its portfolio of blended cements and supplementary cementitious materials (SCMs) as the Envirocore Series. This is in response to ever-increasing market demand for performance and sustainability.
Products under the Envirocore Series include OneCem Portland Limestone Cement, MaxCem Blended Cement, and NewCem **** Cement.
As the largest cement manufacturer in the U.S., LafargeHolcim is calling on architects, engineers, contractors and ready-mix producers to adopt more sustainable products in order to lower the industry's carbon footprint.
In the US, Holcim plants have produced more than 3 million metric tons of OneCem for concrete construction applications throughout the country. The company said concrete has a high carbon footprint due to the energy intensiveness and generation of CO2 in Portland cement manufacturing. For every ton of clinker replaced by SCMs, CO2 emissions are reduced by approximately 0.8 tons.
https://www.nasdaq.com/articles/lafargeholcim-rebrands-blended-cement-portfolio-in-the-u.s.-quick-facts-2020-09-22
https://markets.businessinsider.com/news/stocks/holcim-us-announces-new-blended-cements-branding-9337236#
This is a significant move by the worlds largest cement producer to publically call for more SCM (Substitute Cement Materials) to be used in construction. As natural pozzolan is an SCM this will further put us under the spotlight
Further to my post yesterday some useful pricing information I received today from the same customer. Whilst this is a UK customer it gives you a useful comparison between cement, fly and GGBS.
They pay £95/T ($123) for grey cement using hundreds of thousands of tonnes per year.
Pay £52 ($67) for fly ash. Based on using around 250,000T per year. They have changed fly ash sources 9 times in 5 years due to availability issues.
Pay £72 ($93) for GGBS (another pozzolan) based on using 50,000 tonnes per year.
This is one of the largest paving manufacturers in the UK.
The most important aspect here is fly and GGBS is cheaper than grey cement. White or specialist cement can cost up to £200 per tonne.
They are actively investigating alternative pozzolans available for delivery to the UK.
If you read the company presentation from August is states:
100-ton bulk sample mined and submitted to potential customer (cement company).
? Bulk sample ground in production clinker mill, to produce a finished ground pozzolan product.
? Tested for compliance with ASTM C618.
? Scale up from lab results confirmed.
? Samples out for testwork at a number of additional cement and concrete companies.
So the samples are already with various cement and concrete companies. 28 days is the standard curing time, then followed by strength and other testing. We should have results of these by now.
What cement and concrete producers love above all else is raw material consistancy - having access to the same cement, aggregates, pozzolans because it makes production so much easier. When raw material sources have to change as they are with fly ash it's a absolute nightmare because mix designs have to change which can upset the specification of the final product. Concrete products have to satisfy very strict British/ European (EN) standards or American Society for Testing and Materials (ATSM) due to building regulations.
SRES are shooting at an open goal here. They have a 27 year life long mine. That's 27 years for the same raw material for companies to source from. It's not a difficult sell - just as easy as selling sand to the Arabs!!