Cement News tagged under: China
China’s watchdog fines three producers for price fixing10 September 2014, Published under Cement NewsChina’s price regulator has fined three domestic cement makers CNY114m (US$18.58m) for price fixing, the National Development and Reform Commission (NDRC) said in a statement on its website. Among the firms were units of Jilin Yatai Group Co Ltd , China National Building Material Co Ltd and Tangshan Jidong Cement Co Ltd. |
Taiheiyo dissolves Xinjiang joint venture09 September 2014, Published under Cement NewsTaiheiyo Cement has ended a Chinese joint venture with a Xinjiang-based company in response to government efforts to cut excess capacity in the cement sector. Following calls by Beijing to curb investment in the cement industry to ease oversupply concerns and given the business environment in the regional industry, Taiheiyo and Xinjiang Tianye decided to break off the agreement, according to a Nikkei Report. The joint venture agreement had initially been signed at the end of 2012 bet... |
WCC raises US$400m in bond offering, China05 September 2014, Published under Cement NewsWest China Cement (WCC) has raised US$400m in a five-year bond deal with proceeds intended to refinance the same amount of debt. With an order book of US$4bn from 260 institutional accounts, the latest bond deal offered investors a coupon rate of 6.5 per cent, compared with 7.5 per cent on the previous five-year bond that matures in 2016, according to a term sheet seen by the South China Morning Post. At the subscription level the deal was well received by fund investors, who represente... |
China Shanshui Cement 1H hit by lower prices25 August 2014, Published under Cement NewsChina Shanshui Cement Group Ltd announced its unaudited interim results for the six months ended 30 June 2014 which saw softer demand and lower average selling prices dent profitability. During the reporting period, the Group's revenue reached CNY7349m (US$1.19bn) while gross profit was CNY1534m. Profit attributable to equity shareholders amounted to CNY168m with basic earnings per share reaching CNY0.06. During the period under review, cement sales rose six per cent YoY to 24.36Mt and sh... |
Taiwan Cement hikes prices 3.2%22 August 2014, Published under Cement NewsTaiwan Cement announced a rise of cement prices in Guangdong and Guangxi, China, by CNY10 (US$1.63)/t or 3.2 per cent to CNY320/t. The company said that as the China market has entered peak season, cement stocks in the Pearl River Delta have been falling, enabling price rises to go ahead. Taiwan Cement said it would keep a close eye on the market's reaction and does not rule out a further price hike next month. The two provinces account for almost half of the company's Chinese prod... |
West China Cement first-half revenue rises despite flat volumes18 August 2014, Published under Cement NewsWest China Cement reported higher revenue and gross profit margins for the six months to the end of June 2014, boosted by higher average selling prices (ASP) in its core markets in Southern Shaanxi province as overall sales volumes remained flat. Revenue reached CNY1,997.7m an increase of 1.5 per cent from a year earlier. The gross profit margin increased to 19.3 per cent from 17.6 per cent for the same period last year. Profit attributable to owners for the six months ended 30 June 2014 d... |
China: MIIT issues warning on new capacity08 August 2014, Published under Cement NewsChina’s Ministry of Industry and Information Technology (MIIT) has issued an emergency decree ordering regulatory departments across the country to stop the cement sector from adding new capacity. The move is in response to some local governments indiscriminately launching new capacity to spur a slowing economy, ignoring the country's restructuring efforts. Policymakers have tried repeatedly in recent years to eliminate excess capacity in the cement sector as part of efforts to restructure... |
Asia Cement (China) first-half profit rises07 August 2014, Published under Cement NewsAsia Cement (China) said its profit attributable to owners for the six months ended 30 June 2014 rose 49.7 per cent YoY to CNY383m (US$62m). Revenue increased by 23 per cent YoY to CNY3.91bn. The gross profit margin on revenue rose to 24 per cent from 18 per cent. The growth in net profit was mainly attributable to the increase in sales volume and average selling price of Asia Cement's products versus the comparative period of last year. Cement and clinker sales rose 14 per cent YoY to ... |
Asia Cement completes Sichuan Lanfeng acquisition, China01 August 2014, Published under Cement NewsAsia Cement (China) Holdings has completed the acquisition of a 100 per cent holding in Sichuan Lanfeng Cement at a consideration of CNY968m (US$156.7m) on Wednesday. Sichuan Lanfeng becomes an indirect non-wholly-owned subsidiary of the company. The 100 per cent equity is held by Asian Cement unit Sichuan Yadong Cement. |
China's first-half output growth slows30 July 2014, Published under Cement NewsCement output rose 3.6 per cent YoY to 1.14bnt in the first half of 2014, slowing 6.1 percentage points from the expansion seen during the same period last year, according to latest data from the National Development and Reform Commission (NDRC) posted on its website. |