Today we took a trip to the town of Zigy to explore the cement of Cyprus. Vassiliko Cement is the largest heavy industry planet in Cyprus and the largest producer of Cement in Europe. The company has access to quarries to supply its materials, but it must also import a significant portion of its limestone. The presenters mentioned that there would be no shortage of limestone (the main ingredient in cement) for a long time in Cyprus. The production of cement also emits a large amount of CO2. To combat this fact, the company has implemented alternative fuels such as using an RDF process and using waste wood as well as ordinary trash.
Additionally, the company purchased machinery closed off to the air so CO2 and other dangerous dust cannot escape into the employee’s lungs. While some of these changes seem genuine, the presenters did show that some changes are only to maintain regulations. I have seen this assertion in many companies we have visited, such as Colombia ship management and DP World. Companies will say they are making improvements to sustainability but in reality, they are only making the changes required by regulations. I can’t blame companies for this, as improving sustainability will decrease profit margins, but it is unfortunate.
Vassiliko briefly mentioned their supply chain, as they export both their cement and clinker and have wood, fuel, oil, and limestone imported into their factory. Based in the center of the Mediterranean Sea, it would seem that the company would have a large customer base, but the presenter stated that most of its customers come from Cyprus or Israel.
The following company we visited was MSC, the largest shipping management company in the world with over 500 ships. The information I learned yesterday from Colombia Ship management was congruent with today’s information. The biggest takeaway I had from this meeting was actually after the meeting had taken place. One of the presenters was talking to us in a smaller group that instead of the company looking to the future, they worked on the improvements they could make in the present. This idea made a lot of sense for a historically slow industry.