Cement News tagged under: China
China's changing dynamics06 December 2013, Published under Cement NewsThe dynamics between small and large players in the Chinese cement industry could all change next year on the back of a number of new policies led by a change in tax rebate policies and more stringent environmental regulation, a new report by BNP Paribas has stated. Going forward, larger producers who can meet the higher environmental standards are sent to benefit from the changes. Changes to tax policy A change to a tax rebate policy, currently enjoyed by producers of low-quality ceme... |
Sichuan Shuangma to acquire stake in Dujiangyan Lafarge03 December 2013, Published under Cement NewsSichuan Shuangma Cement Co says it plans to acquire a 25 per cent stake in Dujiangyan Lafarge Cement from Lafarge China Offshore Holding Company for about CNY832m (US$136.5m). Sichuan Shuangma has said the acquisition will be via shares issuance of about 147.58m shares at CNY5.64/share. |
Guangdong to launch carbon permits market29 November 2013, Published under Cement NewsGuangdong, a heavily industrialised province in China, plans to launch a carbon emission trading scheme next month, which will be the world's second largest after the EU. The scheme to be launched in Guangdong, China's most populous province, will cap CO2 emissions from 202 companies at 350Mt for this year, the provincial Development and Reform Commission said on its website. At total of 97 percent of the permits will be handed out free on December 10, but the local government will also... |
TCC International receives buyout bid28 November 2013, Published under Cement NewsTCC International Holdings said it received a buyout offer from its parent company Taiwan Cement Corp. Taiwan Cement currently holds a 56.5 per cent stake in TCC International Holdings. The proposed deal is valued at HKD5.59bn (US$721m), according to Bloomberg. The deal will allow Taiwan Cement to book the full profits of the Hong Kong unit, TCC International Holdings Ltd, which has a major production base in China and is benefiting from rising product prices there, analysts said. |
China: Qingsong Building Materials acquires Xinjiang cement business20 November 2013, Published under Cement NewsXinjiang Qingsong Building Materials & Chemicals (Group) Co Ltd has acquired a 31.64 per cent stake in Yili Nangang Building Materials (Group) Co Ltd for CNY169m (US$27.7m), the company announced. After the acquisition, Qingsong Building Materials' stake in the Xinjiang Uyghur Autonomous-based company increased to 51 per cent, further expanding cement market shares in the region. |
Anhui Conch Jan-Sept net profit rises 36.82%04 November 2013, Published under Cement NewsAnhui Conch Cement Co 's net profit in the first nine months rose 36.82 per cent YoY to CNY5.36bn (US$878.6m), the company said in its third-quarter report. Basic earnings per share were CNY1.02 during the period. Operating revenue rose 14.76 per cent YoY to CNY37.01bn in the first nine months, boosted by an increase in the sales volume and price of cement and clinker. At the end of September the company's net assets had increased 6.29 per cent from the end of last year to CNY51.98... |
Asia Cement nine month profit surges, China25 October 2013, Published under Cement NewsAsia Cement said net profit attributable to shareholders for the first nine months of the year rose by 166 per cent YoY to CNY391m (US$64.25m). Revenue rose by 3.9 per cent from a year earlier to CNY4.92bn. Gross profit increased by 29 per cent to CNY901m with margins of 18 per cent, up by three percentage points on a year earlier. For full-year 2013 the group anticipates a five per cent YoY rise in sales to 26Mt compared to 24.8Mt in 2012. It expects to continue benefitting from a declin... |
JP Morgan lifts stake in Anhui Conch25 October 2013, Published under Cement NewsJPMorgan Chase & Co purchased 2.05 million shares (a 0.16 per cent stake) in Anhui Conch Cement Co Ltd on 17 October, increasing the stake to 12.12 per cent, according to the Hong Kong Stock Exchange. After the purchase, JPMorgan bought the shares HK$26.95/ share and for a total of HK$ 55.25m (US$7.13m). |
Daiwa raises CRC target price, China17 October 2013, Published under Cement NewsDaiwa Research raised its target price for China Resources Cement (CRC) to HK$6.6 from HK$5.95, and retained its "buy" rating. The research house cited management noting that the market has been overly pessimistic on cement prices for south China, as many analysts seem to have misread the capacity growth in the region. While many production lines are pending to be built in the region, not all are able to get full approval, the research house said. With slower capacity growth and improv... |
China: new measures to curb overcapacity16 October 2013, Published under Cement NewsChina has announced new plans to curtail overcapacity that is persisting in a number of sectors and is offering fiscal incentives to encourage the removal of obsolete capacity. New projects will be banned in sectors experiencing overcapacity including the cement, steel, aluminium, glass, and shipbuilding, and new fiscal incentives will be provided to encourage companies to phase out extra obsolete capacity on top of the original goals by 2015, the State Council said in a statement dated 6 ... |