Cement News tagged under: China Shanshui Cement
Shanshui Cement to work with Conch Venture on waste utilisation projects03 June 2019, Published under Cement NewsChina Shanshui Cement Group Ltd has entered into a strategic cooperation agreement with China Conch Venture Holdings Ltd to collaboratively develop projects for the treatment of industrial solid and hazardous waste by cement kilns. According to an announcement, the projects would look to use China Shanshui Cement’s production lines in Shandong and northeast China. Conch Venture is expected to supply technology and management, with both companies integrating resources to form a complete ind... |
China Shanshui Cement in a race to be re-listed20 August 2018, Published under Cement NewsMoore Stephens CPA has taken up the challenge to complete the 2017 audit for China Shanshui Cement before the Hong Kong Stock Exchange's deadline of 31 October. China Shanshui Cement (CSC) aims to have its shares trading again following their delisting after a failed takeover bid by rival company China Trianrui Group Cement in 2015. But last month KPMG resigned as auditor for CSC, giving Moore Stephens the difficult task to restore the company's public shareholdings in time to meet the de... |
Major shareholder offers to sell stake in China Shanshui Cement02 June 2017, Published under Cement NewsChina Shanshui Cement Group Ltd said on Thursday that a major shareholder had offered to divest its 25 per cent stake in the company for around US$600m. China Shanshui Investment (CSI) has invited three other big shareholders to buy its holding for HKD5.50 (US$0.71)/share, the Hong Kong-listed cement maker said in a filing, although it added that there was no certainty that a deal would be done. CSI made its offer to sell to Taiwan's Asia Cement Corporation, China National Building Materi... |
Shanshui Cement shareholder plans to sell shares01 June 2017, Published under Cement NewsShanshui Cement announced that it received a letter from China Shanshui Investment Co Ltd, which holds a 25.09 per cent of shares, stating that it has invited Asia Cement, CNBM and Tianrui (International) to make an offer to acquire all its shareholdings in the company at US$5.50/share. If any of them makes the offer, it is expected that such party will be subject to the requirements under the Hong Kong Code on Takeovers and Mergers. Further announcement will be made by the company as and ... |
China Shanshui Cement wins injunction in ongoing dispute13 April 2017, Published under Cement NewsShanshui Cement has obtained an injunction from a Hong Kong court that prevents former executives from removing assets worth up to CNY142m (US$20.6m) from Hong Kong and posing as directors or officers company, Reuters reports. China Shanshui said on Monday that current executives had been attacked with pepper spray, smoke bombs and water guns and held for two hours by associates of a former official when they had tried to retake control of company property in China. In a filing, the fi... |
China Shanshui Cement says some properties of unit "illegally occupied" by Jingtian10 April 2017, Published under Cement NewsChina Shanshui Cement today informed its shareholders that some properties of its Shandong Shanshui Cement Group unit were "illegally occupied" by Mi Jingtian, the former deputy general manager of Shandong Shanshui and his associates. The company said that on 8 April the directors of the company entered and tried to repossess the properties of Shandong Shanshui in Jinan city. It said the directors were held against their will by an unidentified crowd "commanded and organised by Mi Jingtian... |
China: Shanshui Cement defaults on bond28 February 2017, Published under Cement NewsShandong Shanshui Cement Group has defaulted on a CNY1bn (US$145m) bond, according to China Merchants Bank. With a huge amount of debt due in 2017, China is facing rising default risks as growth moderates and Beijing switches to a tighter monetary policy. Shanshui hasn't been able to raise enough money to fully repay the three-year debt, which was due 27 February, the underwriter said in a statement. Shanshui has already defaulted several times since 2015 due to liquidity strains, rest... |
China: Shandong Shanshui returns to profitability16 December 2016, Published under Cement NewsShandong Shanshui Cement has managed to turn its losses into profit following a year of defaulting on debts after a battle for control of the company. Deputy Chairman, Mi Jingtian, said that solutions to the CNY4.6bn (US$661.1m) of defaulted debt are now in place and the company has paid in full all outstanding interest. It has since regained a “normal working relationship” with commercial banks. A disclosure issued on 5 December stated that the company has settled a dispute with China Me... |
China: Shanshui Cement to raise HK$456m from placing07 October 2016, Published under Cement NewsShanshui Cement announced that it has entered into a placement agreement, proposing the placing of 910-950m new shares at a price not less than HK$0.5/share. This placing price represents a 92.1 per cent discount when compared to its closing price of HK$6.29 (US$0.81). The placing shares represent 21.2-21.9 per cent of the enlarged issued share capital of the group. Estimated net proceeds stand at HK$436.85-456.25m (US$56.3-58.8m), which will be applied to settle the group’s outstanding d... |
China Shanshui’s Liaocheng unit ‘illegally occupied’16 June 2016, Published under Cement NewsIn a fresh twist in the ongoing troubles of China Shanshui Cement Group, the company has announced that a unit of its subsidiary, Liaocheng Shanshui Cement, has been ‘illegally occupied’ by 200 unidentified people, Bloomberg reports. According to a statement to the Hong Kong stock exchange, the firm claims that the occupation was carried out on the orders of former chairman Zhang Bin and founder Zhang Caikui. China Shanshui has been struggling to assert its control over Shandong Shansh... |