Continental Cement Company Joins Roadmap to Carbon Neutrality by 2050

Rhea-AI Summary

Continental Cement Company, a subsidiary of Summit Materials (NYSE: SUM), has signed the Portland Cement Association's Roadmap to Carbon Neutrality, aiming for sustainability in the cement and concrete industry. This initiative will address climate change, reduce greenhouse gases, and enhance environmental practices across the industry. The Company is already recognized for its use of alternative fuels, sourcing 40-45% from such resources. It also promotes Portland Limestone Cement, which lowers concrete's carbon footprint by 10%. The roadmap aligns with global goals to achieve carbon neutrality by 2050.

Positive

• Signed the PCA's Roadmap to Carbon Neutrality to enhance sustainability.
• Uses alternative fuels for 40-45% of total fuel usage, highlighting eco-friendly practices.
• Promoting Portland Limestone Cement, which reduces concrete's embodied carbon by 10%.

Negative

• None.

Plan marks major milestone for the U.S. cement and concrete industry

CHESTERFIELD, Mo.--(BUSINESS WIRE)-- Continental Cement Company (“Continental Cement” or “the Company”), a subsidiary of Summit Materials, Inc. (NYSE: SUM), today joined an ambitious journey to achieving carbon neutrality across the cement and concrete value chain by signing onto the Portland Cement Association’s (“PCA”) Roadmap to Carbon Neutrality. In collaboration with PCA’s other member companies and experts, the Roadmap demonstrates how the U.S. cement and concrete industry can collectively address climate change, decrease greenhouse gases and eliminate barriers that are restricting environmental progress. Given the significant role of cement in society and anticipated infrastructure development, it is critical that the industry comes together and acts now to create sustainable building solutions in the decades to come.

“We are excited to support the PCA by signing the association’s Roadmap to Carbon Neutrality,” commented Tom Beck, Continental Cement Company President. “As a member of the Summit Materials family of companies, a key focus of our sustainability strategy is to reduce our CO₂ emissions, particularly at our cement plants. This Roadmap will help us and member companies find innovative solutions so that we can continue to support our communities through infrastructure while reducing our carbon footprint.”

The Roadmap focuses on a comprehensive range of reduction strategies for stakeholders to adopt across all phases of the material’s life cycle, such as reducing CO₂ from the manufacturing process, decreasing combustion emissions by changing fuel sources and shifting toward increased use of renewable electricity.

Many of the solutions included in the PCA Roadmap are products, technologies and approaches that exist today – and by bringing together a variety of collaborators, PCA intends to ensure the adoption of these solutions on a broad scale. This will accomplish near-term benefits while constantly striving toward the long-term success of reaching carbon neutrality.

Continental Cement is an established industry leader in the use of alternative fuels, deriving an average of 40-45% of the Company’s total fuel usage from alternative fuels (based on 2019 usage). The Company’s Hannibal Cement Plant co-processes both liquid and solid hazardous waste as a fuel source, while its Davenport Cement Plant uses non-hazardous alternative fuels from surrounding industrial facilities. Continental Cement’s subsidiary, Green America Recycling, is a crucial component for sourcing, securing, and implementing the Company’s alternative fuel strategy. As such, Green America is in the process of expanding its Hannibal facility.

In addition to using alternative fuels in cement production, Continental Cement Company is working with customers and specifiers to commercialize Portland Limestone Cement (“PLC”) in all of its markets. PLC reduces concrete embodied carbon by approximately 10% while delivering resilient and durable infrastructure to our communities.

Industry experts, researchers, policymakers and companies along the value chain are imperative to realize the multitude of solutions that must be developed across policies and regulations, technology, innovation and demand generation – creating both near-and long-term CO₂ reduction opportunities and constantly striving toward carbon neutrality.

Cement and concrete companies worldwide have committed to achieve carbon neutrality across the value chain by 2050. Addressing climate change is a global task, and the PCA Roadmap presents a plan tailored to the U.S. cement and concrete industry. PCA is aligned with the Global Cement and Concrete Association’s Roadmap.

View the full Roadmap here.

About Continental Cement Company

Continental Cement Company is a leading provider of cement based in Chesterfield, MO with plants in Hannibal, MO and Davenport, IA and 9 distribution terminals along the Mississippi River between Minneapolis, MN and New Orleans, LA. Continental Cement has built its business on consistent quality, superior service, and delivering a great experience since they began producing cement at their Hannibal location in 1903. The Company provides high quality cement for projects along the Mississippi corridor and is a subsidiary of Summit Materials, Inc.

About Summit Materials

Summit Materials is a leading vertically integrated materials-based company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and nonresidential end markets. Summit has a strong track record of successful acquisitions since its founding and continues to pursue growth opportunities in new and existing markets. For more information about Summit Materials, please visit www.summit-materials.com.

About The Portland Cement Association (PCA)

Founded in 1916, PCA is the premier policy, research, education, and market intelligence organization serving America’s cement manufacturers. PCA members represent the majority of U.S. cement production capacity, having facilities across the country. The association promotes safety, sustainability, and innovation in all aspects of construction, fosters continuous improvement in cement manufacturing and distribution, promoting economic growth and sound infrastructure investment. For more information, visit www.cement.org

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include all statements that do not relate solely to historical or current facts, and you can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “trends,” “plans,” “estimates,” “projects” or “anticipates” or similar expressions that concern our strategy, plans, expectations or intentions. These forward-looking statements are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements to be different from future results, performance or achievements expressed or implied by such forward-looking statements. We derive many of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, it is very difficult to predict the effect of known factors, and, of course, it is impossible to anticipate all factors that could affect our actual results.

In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be realized. Important factors could affect our results and could cause results to differ materially from those expressed in our forward-looking statements, including but not limited to the factors discussed in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended January 2, 2021. Such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211013006097/en/

David Loomes

Senior Vice President of Sales and Supply Chain

Continental Cement Company

David.Loomes@continentalcement.com

636-532-7440

Source: Continental Cement Company

FAQ

What is Summit Materials' stock symbol?

The stock symbol for Summit Materials is SUM.

What sustainability initiative did Continental Cement join?

Continental Cement joined the Portland Cement Association's Roadmap to Carbon Neutrality.

How much of Continental Cement's fuel usage comes from alternative fuels?

Continental Cement sources 40-45% of its total fuel usage from alternative fuels.

What is Portland Limestone Cement and how does it impact carbon emissions?

Portland Limestone Cement reduces concrete's embodied carbon by approximately 10%.

What are the goals of the PCA's Roadmap to Carbon Neutrality?

The PCA's Roadmap aims to collectively address climate change, decrease greenhouse gases, and enhance environmental practices in the U.S. cement industry.