Cement News tagged under: China
Anhui Conch reports first quarter decline, China23 April 2013, Published under Cement NewsChina’s second-largest cement producer by capacity, Anhui Conch Cement, reported a decline in first-quarter net profit but an improved pricing environment has begun to emerge in the company’s key regional markets. Conch said its net profit attributable to shareholders for the first three months of 2013 declined 22.18 per cent YoY to CNY972m. Operating revenue was CNY9.91bn, an increase of 11.8 per cent from a year earlier. On its outlook, Morgan Stanley said: "we still like Conch's... |
Goldman positive on Eastern China markets23 April 2013, Published under Cement NewsGoldman Sachs said it remains positive on China's cement sector but continues to be regionally and stock selective. The investment bank expects further upside to cement prices in Eastern China, given its current lowest inventory across the regions, and least new capacity additions in the year, benefiting Anhui Conch and CNBM. However, Northern/Southern China's cement prices are already under pressure from high inventory/overcapacity. Goldman estimated NSP capacity to increase by 11 and 1... |
Tangshan Jidong Cement net profit drops 88.19%, China16 April 2013, Published under Cement NewsTangshan Jidong Cement net profit drops 88.19 per cent, China Co Ltd net profit slumped 88.19 per cent, the company said in a statement. Operating revenue slid 7.09 per cent YoY to CNY14.61bn (US$2.36bn), with basic earnings per share of CNY0.13. The company plans to pay a cash dividend of CNY1 (including tax) for every ten shares held. Jidong Cement plans to produce 72Mt of cement in 2013, a YoY increase of 20 per cent. |
Improved outlook for Asia Cement Corp in 201312 April 2013, Published under Cement NewsTaiwanese producer Asia Cement Corp is expected to return to a path of growth this year driven in part by earnings growth from its operations on mainland China, a recent report by HSBC has said. Last year, Asia Cement’s net profit plunged 38 per cent to TWD6.24bn (US$208.3m), which was 16 per cent lower than HSBC’s forecast. However, the Taipei Times reports that HSBC analyst Elaine Lam retained her “neutral” rating on Asia Cement, with an unchanged 12-month target price of NT$36.45, repr... |
Sinoma makes Indian acquisition12 April 2013, Published under Cement NewsSinoma International Engineering (Hong Kong) Co Ltd, part of China National Materials Group Corporation Ltd, has acquired a majority stake in India-based cement equipment manufacturer LNV Technology Pvt Ltd. According to the agreement, Sinoma International Engineering has purchased a 68 per cent share in LNV Technology while joint venture partners Mr VC Rao, managing director of the Chennai-based firm and LV Technology Public Co Ltd, hold around a 16 per cent equity share each in the comp... |
Oyak inks second cogeneration deal with Shanghai Triumph Energy Conservation Engineering11 April 2013, Published under Cement NewsShanghai Triumph Energy Conservation Engineering Co, has inked a deal with Oyak Group, Turkey, for a cogeneration project for its Bolu Cimento subsidiary. The deal follows the Aslan Cimento cogeneration project signed by the two companies on March 1. The signing of the two projects not only marks the beginning of Shanghai Triumph-Oyak cooperation, but also boosts China National Building Materials Group Corporation's efforts for further development in the Turkish market. Located in... |
Moody's: West China Cement's medium-term notes issuance is credit positive11 April 2013, Published under Cement NewsMoody's Investors Service says West China Cement's (WCC) issuance of medium-term notes (MTN) totalling CNY800m (US$129m) for three-years at 6.1 per cent is credit positive. The notes were issued on 28 March 2013 through WCC's indirectly wholly owned onshore subsidiary Yaobai Special Cement Group Co Ltd, which owns the vast majority of the group's assets in Mainland China. The proceeds from the MTN issuance will be used to refinance onshore bank loans, expand production facilities and for g... |
Conch Group to issue short-term bills, China03 April 2013, Published under Cement NewsThe Anhui Conch Group said it plans to issue CNY1.5bn (US$241m) in unsecured bills with a maturity of 365 days on the inter-bank market next week. The company said in a statement that this batch of bills will be issued on the 10 April 2013 at face value and the coupon rate determined during the the process of bookbuilding, China Knowledge Press reports. Agricultural Bank of China has been hired as book runner and lead underwriter for the offering and China Construction Bank Co will be ... |
Dongwu Cement's net profit slumps, China02 April 2013, Published under Cement NewsDongwu Cement International Ltd saw its net profit slump 98.81 per cent YoY to CNY1.04m (US$ 167,722) . Operating revenue, meanwhile, dropped 30.8 per cent YoY to CNY321m in 2012, the company said in a statement. Dongwu Cement International Ltd is a cement and clinker producer in Wujiang City, Suzhou Prefecture, which is situated in south Jiangsu Province. It employs NSP technology in the production process and its principal products include ordinary Portland cement strength class 42.5 (PO... |
China output climbs 10.8 per cent YoY28 March 2013, Published under Cement NewsCement production in China reached 237.29Mt in the first two months of 2013, an increase by 10.8 per cent from the same period of last year, according to latest data from the National Development and Reform Commission. The rate of growth over the Jan-Feb 2013 period has accelerated from the 4.8 per cent growth seen during the same period of 2012. However, cement prices have continued to fal with the average ex-factory price from major companies declining by CNY7/t from December and CN... |