Cement News tagged under: China
Sri Lanka: Holcim exit causes tension with China and India08 July 2016, Published under Cement NewsThe possible takeover of Holcim Lanka Ltd by China Resources Cement Holdings Ltd, a subsidiary of the state-owned China Resources Group, is expected to cause tension with India as the world's largest cement-producing country extends its influence on the island. With strong current positions in the Colombo and Hambantota harbours, this deal would also give China a presence in Galle and Trincomalee in addition to consolidating its presence in Colombo. Holcim presently owns the Ceylon Ambuja... |
China: BBMG sells stakes to Jidong Cement30 June 2016, Published under Cement NewsChinese building materials supplier, BBMG Corp has plans to sell its stakes in 31 cement-related companies to Jidong Cement. The stakes on offer are valued at CNY15.5bn (US$2.3bn). Tangshan Jidong Cement Co Ltd will eventually become a part of BBMG as part of an overall company restructuring. This move comes as the Chinese government tries to get rid of smaller or inefficient players in sectors such as glass, steel and cement. In May 2016 the government stated that it intends would give c... |
China National Building Materials (CNBM)29 June 2016, Published under Cement NewsChina National Building Materials (CNBM) plans to become a shareholder in Eurocement Group, Russia’s leading producer of construction materials. The deal, which was signed in China on 25 June, is believed to be worth US$5bn. According to local press reports, the input of funds is destined for modernising Eurocement’s existing plants along with the construction of new dry-process production lines. Eurocement currently operates 19 cement plants across Russia, Ukraine and Uzbekistan with a c... |
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... |
Ghana: Dangote appeals for ban on Chinese imports25 May 2016, Published under Cement NewsDangote has called on the government of Ghana to ban imports of Chinese cement, warning that the measure is necessary to save local producers from collapse, Ghanaweb reports. In addition to the economic impact of such imports, Dangote also claimed that Chinese cement was not subject to proper quality checks and as such could put consumers at risk. Joseph Abo, sales and marketing manager of Dangote Cement, said the use of this cement meant Ghana was “building our death traps”. Tor Nygar... |
China: West China Cement to agree to Anhui Conch ownership24 May 2016, Published under Cement NewsYesterday, shares in West China Cement rose nearly six per cent on news that a sufficient majority of option-holders had agreed to an acquisition by largest listed Chinese peer, Anhui Conch Cement, reports the Australian Financial Review. The deal should have the government's blessing as further consolidation is needed in the sector. Last week, the State Council reiterated its desire for a more concentrated industry. It wants the top 10 players to control three-fifths of capacity by 2020. ... |
China: Asia Cement and CNBM halt Shanshui offer11 May 2016, Published under Cement NewsFollowing nine months of consideration, Asia Cement and CNBM have said they will not proceed with plans to buy the shares they do not already own in Shanshui Cement. In a statement issued 10 May, the two companies, which combined own nearly 38 per cent stake in the Chinese cement maker, said they have concerns regarding the changes in Shanshui’s board, ongoing disputes and financial difficulties. They said the prolonged suspension of the shares has affected the ability to determine the va... |
China: BBMG can be optimistic for 201606 May 2016, Published under Cement NewsBeijing Building Materials Group (BBMG) is looking favourably to the rest of the year as an upturn in its Chinese cement sales and higher prices are forecast. However, expansion overseas is not yet seen as a priority despite the Chinese President, Xi Jinping's, desire for Chinese firms to expand across southeast Asia. "Management remains positive on the demand pick-up in the region, given the support from the Beijing-Tianjin-Hebei (BTH) integration and overall improvement in the infrast... |
Morgan Stanley: cement consumption to grow 4% YoY to 202025 April 2016, Published under Cement NewsNew research from Morgan Stanley predicts that worldwide cement demand excluding China has turned a corner and will grow at an annualised rate of four per cent between 2016 and 2020. The investment firm is particularly bullish about India, South Asia and sub-Saharan Africa, all of which it forecasts will see consumption grow by more than five per cent per year over the period (with Indian demand set to expand at 6.7 per cent). However, consumption in China is predicted to fall by 1.2 per ... |
China Resources Cement sees profits fall by 99%25 April 2016, Published under Cement NewsChina Resources Cement (CRC) has seen profits attributable to owners fall by 99 per cent to HKD6.6m (US$850,000) for the first three months of 2016 as compared to the same period in 2015. The firm's revenues fell by 24 per cent to HKD4.7bn (US$610m) in 1Q2016. The company was hit hard by falling prices: sales volumes rose from 15Mt in 2015 to 15.8Mt, but average prices fell by 27 per cent to HKD232.8/t (US$30/t). Sales volumes fell 14 per cent to 5.6Mt in Guangdong – CRC’s biggest prov... |