Cement News tagged under: China
Xinjian Tianshan Cement expects 75 per cent net profit drop, China28 January 2013, Published under Cement NewsXinjiang Tianshan Cement Co Ltd, a Shenzhen-listed cement producer, estimated 25 January that net profit for 2012 to be about CNY305m (US$49m), a a YoY decline of 75 per cent. |
Huaxin to acquire stakes in two Hubei-based companies, China24 January 2013, Published under Cement NewsHuaxin Cement is continuing its acquisitions policy by announcing it plans to acquire stakes in two companies based in Hubei province. The Chinese producer is set to buy a 70 per cent share in two separate companies for a combined price of CNY519m (US$83.4m). Huaxin Cement said that the acquisition will increase its competitiveness in the local cement market. Huaxin Cement is 41.6 per cent controlled by Swiss cement major Holcim. |
Taiwan Cement Corp secures syndicated loan, Taiwan22 January 2013, Published under Cement NewsTaiwan Cement Corp (TCC) has secured a five-year oversubscribed syndicated loan of TWD14bn (US$48.29m) from 12 banks, including two Chinese lenders, the company said in a press release. TCC had planned to raise TWD12.5bn to meet its debts, long-term equity investments and operational costs, the company said in a statement issued after the signing ceremony. The six main lenders are Mega International Commercial Bank, Chinatrust Commercial Bank, Taipei Fubon Commercial Bank, Taiwan Coope... |
Moody's withdraws Tianrui Cement's rating, China22 January 2013, Published under Cement NewsMoody's has withdrawn its rating for Tianrui Cement’s, the largest cement producer in China's Henan and Liaoning provinces, for its own business reasons. China Tianrui Cement Group Cement Company Ltd, which listed on the Hong Kong Stock Exchange had a clinker and cement production capacity of 22.25Mta and 39.23Mta, respectively, as of 30 June 2012. The company is 39.6 per cent owned by its chairman, Li Liufa, and his son, Li Xuanyu; 18.7 per cent by Tang Ming Chien; 16.7 per cent by KK... |
Nomura cautious on China demand growth and average prices21 January 2013, Published under Cement NewsInvestment bank Nomura is bearish on China cement but is less positive than the market on 2Q13 and 2013 demand growth and potential average selling prices (ASP). The house has analysed 138 railway projects in China and found the net incremental cement consumption for 2013 for 2013 to be 16t less than last year. Normura also explored more reliable property new-starts data and concluded that cement demand from the property sector would fall 1.1 per cent YoY in 2013 to 615Mt. It believ... |
BBMG Corp sees fall in net profit on lower prices, China16 January 2013, Published under Cement NewsBBMG Corporation said its preliminary net profit attributable to shareholders dropped 26.48 per cent YoY to CNY2.52bn (US$405) in 2012 mainly due to a decline in selling prices for its products. The Chinese cement producer said basic earnings per share were CNY0.59, a decline of 27.16 per cent from a year earlier. Total operating revenue was CNY33.29bn, representing a YoY rise of 15.83 per cent. Operating profit fell 21.7 per cent to about CNY2.8 billion. |
Jiangxi Wannianqing expects 60-70% profit fall, China15 January 2013, Published under Cement NewsJiangxi Wannianqing Cement Co Ltd estimates that its net profit decreased 60-70 per cent YoY in 2012, compared with a net profit of CNY506m (US$81.4m) in 2011. The company Shenzhen-listed producer of cement and clinker, |
UBS lifts China Resources Cement14 January 2013, Published under Cement NewsUBS lifted its target price for China Resources Cement (01313) to HK$5.5 from HK$5.05, but downgraded the stock to "neutral" from "buy". It said CR Cement's share price has risen 51 per cent since its September 2012 low due to an increase in cement prices in its main markets of Guangdong and Guangxi. UBS believes the strong performance has factored in a potential improvement in margin. UBS notes that clinker prices have corrected sharply since December 2012. Although inventory is still fal... |
SINOMA accelerates southwest expansion with Taiwan Cement10 January 2013, Published under Cement NewsChina National Materials Group Corporation Ltd (SINOMA) and Taiwan Cement Corporation recently inked agreement in Hong Kong for strategic cooperation. Both sides will exchange information, boost regional production capacity, share technology and experience, make full advantage of Taiwan Cement's involvement in waste treatment, green mining and exploration, CO2 capture, micro-algae carbon fixation and development of a green cement industry. Besides, they will also share products and servic... |
China Tianrui Cement 'B+' rating affirmed; outlook stable09 January 2013, Published under Cement NewsStandard & Poor's Ratings Services said it had affirmed its 'B+' long-term corporate credit rating and 'cnBB' long-term Greater China regional scale rating on cement producer China Tianrui Group Cement Co. Ltd. |