Cement News tagged under: China
Anhui Conch24 August 2015, Published under Cement NewsAnhui Conch has reportedly signed an agreement to construct a 2Mta cement plant in Ulyanovsk, Russia. Located on the Volga River in the west of the country, Ulyanovsk lies 893km from Moscow. The new plant is rumoured to be costing US$274m. Cement demand is expected to be strong in the region following the announcement of over 325 infrastructure projects over the last five years. Over half of these are due to be realised in 2015-2020 with some planned to finish closer to 2030. In total the ... |
China: Huaxin first-half profit plunges 82%24 August 2015, Published under Cement NewsHuaxin Cement reported 1H15 net profit of CNY89m, down 82 per cent YoY, in line with the company’s guidance at the end of July indicating a drop of 80-85 per cent. The Holcim group company said thesix-month decline was attributed to lower clinker and cement prices (-12 per cent YoY) offsetting higher sales volumes (23Mt, +1.4 per cent YoY, together with increaesd finance expenses (+9 per cent YoY). Revenue declined by 11 per cent YoY to CNY6.4bn, but this was partially offset by lower cos... |
Egypt: South Valley signs contract with Sinoma CDI20 August 2015, Published under Cement NewsEgypt-based South Valley Cement Company (SVCE) has signed a contract with Chinese firm Sinoma CDI, to carry out a new grinding line, vice chairman Hussien Shbakshy said Wednesday. The contract is reported to be for a total value of EGP300m (US$38.3m). |
Chinese company signs MoU for Pakistan plant19 August 2015, Published under Cement NewsA memorandum of understanding (MoU) has been signed between the Punjab government and Chinese cement company Yantai Baoqiao Jinhong for the establishment of a cement plant, according to reports by the Business Recorder (Pakistan). Under the agreement, Yantai Baoqiao Jinhong is to establish the plant in Salt Range, Punjab province, involving an investment of US$350m. Punjab Chief Minister Shahbaz Sharif was the chief guest at Tuesday's ceremony, where the documents were signed by Dr Arsh... |
West China Cement first-half profit plummets18 August 2015, Published under Cement NewsWest China Cement Ltd’s net profit slumped 99 per cent in the first half as China's economic slowdown took a toll on cement consumption. The company said first-half net profit fell to CNY2.4m (US$375,120), down from CNY160.2m a year earlier. Its revenue fell 15.4 per cent to CNY1.69bn from HK$2.00bn a year earlier. |
Shanshui Cement issues first-half profit warning, China17 August 2015, Published under Cement NewsShanshui Cement on Friday said it expects to record a loss in net profit for the six months ended 30 June 2015 compared to the net profit of the same corresponding period in 2014, adding that the loss is expected to be "relatively significant." Management attributes the loss to two main factors. Firstly, the group has seen sluggish cement demand in the regions where it operates, particularly in the northeastern and Shanxi regions. Secondly, severe overcapacity led to a "substantial" decr... |
Moody's assigns first-time A3 rating to Anhui Conch Cement12 August 2015, Published under Cement NewsMoody's Investors Service has assigned a first-time A3 issuer rating to Anhui Conch Cement Company Ltd. The rating outlook is stable. "Conch's A3 rating reflects its leadership in the domestic cement industry, as demonstrated by its large production capacity and distribution networks, its strong earnings and ample cash flows, as well as sustained low debt leverage and disciplined capital spending throughout the industry cycle," said Franco Leung, a Moody's VicePresident and Senior Analyst. |
China: Guangdong Tapai Group 1H affected by pricing pressures12 August 2015, Published under Cement NewsGuangdong Tapai Group saw net profit fall to CNY186m (US$29m) for the first half of 2015, down 47.81 per cent from the same period a year ago. Operating revenue fell was down 7.89 per cent to CNY1.84bn. Competition in east Guangdong and Pearl River Delta became fiercer causing cement prices to continue falling. The average selling price fell 19.52 per cent. |
Conch reportedly planning Russian investment11 August 2015, Published under Cement NewsAnhui Conch Cement Co of China is planning to build a 2Mta a cement plant in the Ulyanovsk region of Russia, local press report. The estimated investment in the project is US$300m, according to Esmerk Russian News. |
Chinese demand seen improving - Citi10 August 2015, Published under Cement NewsCement demand in China is likely to improve sequentially in the coming six months with the speeding up of infrastructure construction and more policy support, says Citi. Cement demand in China had declined 5.3 per cent YoY in 1H 2015 on slow infrastructure investments and weak property new starts, leading to an 18 per cent drop in the cement price year-to-date. Citi forecasts demand will only decline three per cent for the full year in 2015 and grow 1.8 per cent in 2016. The house upgra... |