Cement News tagged under: China
Metso strengthens position in China27 November 2012, Published under Cement NewsMetso is strengthening its presence in the fast growing Chinese construction market through two strategic actions: establishing a joint venture with LiuGong Group Corp and acquiring 75 per cent ownership of Shaorui Heavy Industries Ltd. Joint venture with LiuGong Group Corp Metso and LiuGong Group Corp. Ltd (LiuGong) will form a 50:50 joint venture to develop the track-mounted crushing and screening business in China. The joint venture will combine Metso's know-how in track-mounted cru... |
Gansu Cement to raise RMB1.68bn via rights issue22 November 2012, Published under Cement NewsGansu Qilianshan Cement Group Co plans to raise up to RMB1.68bn via a rights issue. The company will sell 142m shares to its shareholders at a ratio of three new shares for every 10 held at RMB6.26/share. Proceeds from the issue will be used to repay bank loans and replenish working capital. |
Dangote orders 500 heavy-duty trucks from Beiqi Foton21 November 2012, Published under Cement NewsNigerian cement producer Dangote Cement has awarded the contract for 500 Foton-Daimler heavy-duty trucks to Beiqi Foton, one of China’s largest commercial vehicle manufacturers. |
Huaxin Cement to see restricted shares become tradable12 November 2012, Published under Cement NewsChina-based cement producer Huaxin Cement Co Ltd said on 8 November that 77.01 million of its restricted shares will become tradable on the market on November 14th. |
Deutsche Bank sees modest China earnings recovery in 201309 November 2012, Published under Cement NewsDeutsche Bank has turned more positive on China's average selling pricing recovery in the next 12 months. For 2013, it expects a revival of property starts and captive supply to further support production halts and thus more stable prices. "While we are more cautious in the medium term due to structural overcapacity and declining cement intensity, we see modest earnings recovery in 2013." Deutsche Bank's top picks are China Resources Cement where it sees a healthy turnaround in suppl... |
Cementir's ready-mixed concrete volumes weaken08 November 2012, Published under Cement NewsCementir's turnover for the first nine months of the year was up by 4.9 per cent to €730.9m. EBITDA, which weakened by 11.9 per cent in the third quarter, was ahead by a modest 3.5 per cent to €94.9m. This reflected higher energy costs, particularly in the case of electricity, and increased staffing levels was a result of the expansion into waste management. The trading profit advanced by 4.7 per cent to €30.6m. The net financial charge declined by 37.4 per cent to €13.9m to give a more ... |
Taiwan Cement sees higher demand and prices lifting fourth quarter06 November 2012, Published under Cement NewsTaiwan Cement Co expects profits to rise in the fourth quarter of on the back of increasing demand and rebounding cement prices in China. TCC’s net profits in the first three quarters dropped nine per cent YoY to NT$6.002bn (US$200.01m) as it suffered from declining cement prices in China. However, with cement prices in southern and eastern China in the fourth quarter nearly 50 per cent higher over the first half of 2012, along with increasing shipments, TCC’s operation in China is expec... |
South Cement Co to issue short-term bills, China06 November 2012, Published under Cement NewsSouth Cement Co, owned by China National Building Materials Co, has announced it plans to issue CNY1.5bn (US$240m) in short-term bills with a maturity of 365 days in the interbank market on 12 November. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date are set on 13 November and the to-be-issued bills tradable 14 November. CNY200m of the proceeds from the issue wil... |
China cement sees Jan-Sept slowdown05 November 2012, Published under Cement NewsChina's cement sector witnessed a sharp slowdown in the first nine months of this year, according to the latest data from the National Development and Reform Commission (NDRC) Cement output rose 6.7 per cent YoY to 1.59bnt in the January-September period, compared with 18.1 per cent recorded in the same period of 2011, according to a recent NDRC report. The factory price of cement tumbled 18.7 per cent from August to an average of CNY317.3/t (US$50.36). At the end of September, ceme... |
Moody's assigns definitive Aa1 to China Resources Cement bonds05 November 2012, Published under Cement NewsMoody's Investors Service has assigned a definitive Aa1 rating to the 5-year bonds issued by China Resources Cement Holdings Ltd. Moody's has removed the rating from provisional status upon the closing of the transaction. The rating outlook is negative. |