Cement News tagged under: China
China: Northern Cement to issue CNY1bn bills27 May 2014, Published under Cement NewsNorthern Cement Co announced Tuesday that it would issue CNY1bn (US$160m) worth of 365-day bills on 4 June 2014. The money raised will be used to repay bank loans and replenish operating capital. |
Eurocement inks US$500m Chinese supply deal21 May 2014, Published under Cement NewsRussian cement major Eurocement Group has signed a package of contracts with Chinese companies for equipment supply, engineering, installation supervision and employee training services, totalling over US$500m. The contracts were signed with units of China’s Sinoma, CNBM, and Sinomach. “The contracts signed 20 May 2014 imply a delivery of a complete set of equipment necessary for the construction of new production lines for the production of cement using the so-called dry method,” a press r... |
China prices expected to rise, exceed market expectations14 May 2014, Published under Cement NewsCement prices in China are likely to continue rising in the second half this year and go beyond market expectations along, according to industry sources. Cement prices in China slightly dropped 0.17 per cent after May Day holiday, but Digital Cement expects the demand for cement would grow significantly in the second half of this year with the rising investment in railways and the speeding up of social housing construction. Although cement prices in Jiangxi and Zhejiang recently fell by... |
China Resources Cement 1Q14 profit rises 69.6%13 May 2014, Published under Cement NewsChina Resources Cement said its profit attributable to owners for the three months ended 31 March 2014 rose 69.6 per cent YoY to HK$768m. Turnover was HK$6797m, an increase of 13.8 per cent from a year earlier. The gross profit grew 55.2 per cent YoY to HK$2162m. The consolidated gross margin for the reporting period was 31.8 per cent, representing an increase of 8.5 percentage points from 23.3 per cent for the corresponding period last year, which was mainly attributable to improved sellin... |
Capital Group buys a 9.25% stake in Anhui Conch07 May 2014, Published under Cement NewsThe Capital Group Co spent HKD159.21m (US$20.53m) to acquire 5.55m shares in Anhui Conch Cement Co Ltd on 30 April, sources reported, citing the Hong Kong Stock Exchange. After the purchase, the USA investor holds a combined 120.20m shares (a 9.25 per cent stake) in the Anhui province-based Chinese cement producer. |
Myanmar Jidong Cement Co to build 5000tpd plant05 May 2014, Published under Cement NewsMyanmar Jidong Cement Company, a subsidiary of China's Tangshan Jidong, has countered claims that local communities in Hpa-an, Karen state, Myanmar, are opposed to the construction of the company's 5000tpd plant in the area. "We have the backing of the locals," he told the Democratic Voice of Burma news service. "Now, we are applying to the Karen State government. After it agrees, we will send an application to the MIC, and start construction of the factory after we receive permission." ... |
Asia Cement expects rise in shipments following Sichuan acquisition02 May 2014, Published under Cement NewsAsia Cement Corp expects a strong rise in shipments from its Chinese unit during the second quarter of 2014 compared to the same period a year ago, as it is set to benefit from the acquisition of two production lines in Sichuan province. Deliveries are expected to increase to 8Mt this quarter, compared with 5.29Mt a quarter ago, following the recent acquisition by subsidiary Asia Cement (China) of Sichuan Lanfeng Cement Co, the company said. Earlier this week Asia Cement (China) reported a... |
Catic wins waste heat recovery project from Goltas Goller Bolgesi Cimento, Tukey01 May 2014, Published under Cement NewsTurkish cement maker Goltas Goller Bolgesi Cimento Sanayi ve Ticaret said it has contracted Chinese company Catic Beijing Co Ltd to set up a waste heat recovery power plant at a total cost of some US$20m (EUR14m). |
Xinjiang Tianshan floats CNY500m bills in April01 May 2014, Published under Cement NewsXinjiang Tianshan Cement Co Ltd issued CNY500m (US$80m) worth of financial bills on 29 April 2014 with a maturity of 365 days and a coupon rate of 5.97 per cent, according to a recent company announcement. The northwest China-based cement manufacturer intends to spend CNY200m worth of proceeds from the issuance to repay bank loans and use the remaining CNY300m to replenish working capital. |
Chinese sector set for turbulent ride – MS01 May 2014, Published under Cement NewsThe Chinese cement industry is in for a turbulent ride, according to analysts at Morgan Stanley, as falling construction starts and infrastructure investment affect demand. "Slower sales momentum, rise in inventory and tighter credit conditions will drive developers to start destocking, which would undermine new construction starts in 2014 and even into 2015," the investment bank said. Fewer land purchases by developers will also hit funding to local government and therefore infrastructure... |