Displaying items by tag: stake

Estonia: Competition authorities have opened additional proceedings into Schwenk Zement subsidiary Schwenk Eesti's deal to acquire a majority stake in Betoonimeister. The parties concluded their agreement in late September 2022.

Betoonimeister supplies ready-mix concrete across Estonia from six batching plants in Jõhvi, Pärnu, Tapa, Tallinn and Tartu. It employs a total of 90 people.

Canada: Investment bank BDC Capital has invested US$3.7m in concrete testing technologies supplier Giatec. BDC Capital hopes that the investment will further the development of CO₂-reducing technology and AI-based concrete testing.

Giatec CEO Pouria Ghods said "The BDC Capital investment will propel Giatec's expansion into international markets and accelerate our innovation in CO₂-reducing technology, moving the concrete industry towards carbon neutrality. BDC has a long history of supporting emerging Canadian cleantech firms in their growth through exports, research and development. We at Giatec are looking forward to working with BDC in our mission to revolutionise the concrete industry and to create yet another success story for the BDC cleantech practice.”

Canada: HeidelbergCement has announced its acquisition of a minority stake in concrete technology developer Giatec Scientific. The group says that, together, the partners will drive the development and adoption of industry-leading sensor technology and AI-driven software in order to reduce concrete’s carbon footprint and optimise processes for HeidelbergCement’s ready-mix concrete customers.

HeidelbergCement said “Giatec’s suite of proprietary smart sensors helps with accurate monitoring of concrete throughout its lifecycle, all the way from production to delivery and placement. Combined with sophisticated AI algorithms, which learn continuously from past and present data sets, the real- time sensor data enables concrete producers to optimise concrete mixes, with up to 20% cement reduction in certain applications.”