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Summit Materials Drives Towards 2050 Net Zero Carbon Targets with Full Conversion to Portland Limestone Cement at Continental Cement Company’s Hannibal Plant
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Summit Materials announces a full conversion of its Hannibal and Davenport plants to Portland Limestone Cement (PLC), reducing carbon emissions by up to 10% compared to traditional cement. This move supports Summit’s2030 and 2050 decarbonization targets. In 2021, these plants produced 2.1 million tons of cement. The transition to PLC reflects Summit’s commitment to sustainability and its goal of becoming the leading sustainable construction materials provider.
Positive
Full conversion of two plants to Portland Limestone Cement (PLC) enhances sustainability.
Reduces carbon emissions by up to 10%, aligning with decarbonization goals.
Supports company expansion and growth in the eco-friendly construction sector.
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Reflects Full Conversion of Continental Cement Company to Portland Limestone Cement
100% of Production at Hannibal and Davenport plants
Reduces carbon emissions per ton by up to 10% compared to traditional Portland Cement
Supports Summit’s 2030 and 2050 decarbonization targets
Drives Summit’s vision to become the most sustainable integrated construction materials company
DENVER--(BUSINESS WIRE)--
Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a leading vertically integrated construction materials company, announces that effective August 4, its Hannibal plant, operated by Continental Cement Company, LLC ("Continental Cement"), a subsidiary of Summit, converted 100% of its annual production to Portland Limestone Cement ("PLC").
Portland Limestone Cement ("PLC") is a blended cement with a higher limestone content, which results in a product that has similar performance characteristics as traditional Portland Cement, but with a reduction in carbon footprint of 10% on average.
The Hannibal plant is the Company’s second conversion to Portland Limestone Cement in 2022. Continental Cement’s Davenport plant began 100% PLC production in April. The two plants produced a combined 2.1 M tons of cement in 2021. Continental Cement’s conversion to PLC marks an important step toward reaching Summit’s overall 2030 and 2050 decarbonization targets announced in April 2022.
"A lower carbon future requires the cooperation of the entire cement-concrete-construction value chain, and we are delighted with the quick adoption of PLC by our customers and specifiers who supported this pivotal change at our plants this year,” commented David Loomes, Continental Cement President and Senior Vice President of Summit Materials. "In addition to shrinking our carbon footprint through the use of alternative fuels in the manufacturing process, the conversion to PLC reduces concrete embodied carbon by approximately 10% while delivering resilient and durable infrastructure to our communities in all Continental Cement markets where Hannibal and Davenport cement is supplied.”
Continental Cement is an established industry leader in championing lower carbon solutions and the use of alternative fuels, deriving an average of about 42% of the Company's total fuel usage from alternative fuels (based on 2021 usage) across its two plants located in Hannibal, Missouri, and Davenport, Iowa. The Company's Hannibal cement plant 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, LLC ("Green America"), 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.
“Summit’s vision is to become the most socially responsible, integrated construction materials solutions provider,” commented Anne Noonan, CEO of Summit Materials. “The PLC conversion at our Hannibal and Davenport plants reflects Summit’s target to reduce carbon emissions by 25% in 2030 and our goal to reach net zero by 2050, and furthers the larger industry effort to address climate change and build a more sustainable future through the Portland Cement Association's Roadmap to Carbon Neutrality."
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 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.
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 1, 2022. 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.
