Cement News tagged under: China
BBMG Corp posts 17% fall in revenue in 202230 March 2023, Published under Cement NewsChina’s BBMG Corp has posted a 16.8 per cent YoY decline in revenue in 2022 to CNY102,822.2m (US$14,938m). Net profit over the same period fell 66.6 per cent to CNY1739.9m, while basic earnings per share contracted from CNY0.27 to CNY0.11. Sales of cement in 2022 came in at 78Mt, while clinker sales reached 8.9Mt, giving a combined annual sales volume of 86.9Mt, marking a 12.8 per cent YoY decline. According to the National Bureau of Statistics of China, national cement output in 2022 was... |
CNBM reports 17% drop in sales in 202227 March 2023, Published under Cement NewsChina National Building Material Company Ltd (CNBM) has reported sales of CNY230.167bn (US$33,441m) in 2022, down 16.5 per cent YoY from CNY275.618bn in the previous year. Net income over the same period fell from CNY17.094bn to CNY8.650bn, while basic earnings per share declined from CNY1.932 to CNY0.944. Net profit fell to CNY7.96bn in 2022 compared to CNY16.3bn in 2021, down 51 per cent YoY. According to the company, cement production contracted 10.5 per cent to a decade-low of 2.13bt ... |
Gebr Pfeiffer and CBMI Construction Co Ltd form calcined clay alliance23 March 2023, Published under Cement NewsGebr Pfeiffer and CBMI Construction Co have entered into a cooperation agreement to supply efficient plants for combined grinding and calcination of clay. Calcined clay offers a sustainable and cost-effective alternative to cement clinker as a reactive binder component, which is why this substitute is increasingly coming into the focus of cement producers. While cement clinker must be burned in a very energy-intensive process at temperatures of more than 1400˚C, suitable clay is activated... |
China Shanshui Cement preliminary profit down 73%17 March 2023, Published under Cement NewsChina Shanshui Cement has posted a preliminary profit for the full year of CNY748.7m, down 73.0 per cent YoY on the back of falling sales, according to Reuters. The company’s operating revenue in 2022 reached CNY21.49bn. Going forward, the group will focus on improving product quality and reducing costs. Cement demand, which was sluggish throughout 2022, is expected to stabilise and decline in 2023. |
Oman Investment Authority starts sale of Oman Cement Co to Huaxin14 March 2023, Published under Cement NewsThe Oman Investment Authority (OIA) has started the process for divesting its majority stake in Oman Cement Co. Ibrahim bin Said al Eisari, director general of private ownership at OIA, said: “This exit comes in accordance with a plan pursued by OIA aimed at achieving a number of goals, including attracting foreign investment to the sultanate. This will contribute to achieving economic diversification and transfer of modern technology to the targeted sectors.” OIA will sell its entire sha... |
Cementir reports significant revenue increases in Europe in 202213 March 2023, Published under Cement NewsCementir's regional results showed significant revenue increases in Turkey, Europe, US and Malaysian markets. However, cement sales were under pressure in most regions. Cementir ’s Danish sales revenues in 2022 reached EUR509.8m, up 23.2 per cent compared to EUR413.9m in 2021, due mainly to the rise in sales prices. Overall cement volumes decreased by six per cent compared to previous year. White cement exports declined by 29 per cent. Ready-mixed concrete volumes in Denmark fell by five... |
Taiheiyo’s Jiangnan-Onoda suspends cement business in Nanjing, China01 March 2023, Published under Cement NewsTaiheiyo Cement Corp announced that its consolidated subsidiary Jiangnan-Onoda Cement Co Ltd has decided to suspend the cement manufacturing and sales business in Nanjing City, China. The competitive environment in China has become increasingly challenging due to the technical advances in local capital and the expansion of the scale of its production base. Therefore, Taiheiyo Cement has decided to suspend the operations of Jiangnan-Onoda Cement to focus on the policy set out in the group... |
West China Cement Ltd: new appointments03 February 2023, Published under Cement NewsDr Ma Weiping has resigned as executive director and chief executive officer of West China Cement Ltd , effective from 2 February 2023. According to the company, Dr Ma has chosen to leave “to devote more time to his other personal endeavours”. The board thanks Dr Ma for his valuable contributions to the company during his time at West China Cement Ltd. Effective immediately, Cao Jianshun has been appointed executive director and chief executive officer. Mr Cao has extensive experience i... |
Asia Cement forecasts 75% fall in profit20 January 2023, Published under Cement NewsAsia Cement (China) Holdings Corp has issued a profit warning stating that its unaudited profit attributable to equity holders for 2022 is expected to decline by approximately 75 per cent YoY. This is being blamed on a fall in sales volumes and selling prices of the company’s products, along with an increase in the cost of coal, compared to 2021. Full results for 2022 will be published at the end of March 2023. |
China Shanshui Cement issues profit warning for 202218 January 2023, Published under Cement NewsChina Shanshui Cement has issued a profit warning, saying that it expects to report a fall in profit of at least 70 per cent in 2022. According to the company, attributable profit for the year is forecast to have contracted by at least 70 per cent, compared to the CNY2.78bn (US$410.8m) recorded in 2021. |