Cement News tagged under: China
Taiwan producers invest further in China04 September 2012, Published under Cement NewsDespite recording a decline in first-half net profits Taiwain-based cement producers Taiwan Cement and Asia Cement, have underlined their confidence in the Chinese market by planning to invest over TWD1.8bn (US$60m) in their respective operations. Asia Cement reported 1H net profit of TWD4.088bn (US$136.27m) in net profits in the first half, with earning per share falling 30 per cent YoY to TWD1.27 (US$0.042). Meanwhile, TCC’s net profits decreased 2.5 per cent YoY to TWD$3.95bn (US$131.67... |
Sichuan Shuangma Cement 1H net profit slumps, China03 September 2012, Published under Cement NewsShenzhen-listed producer, Sichuan Shuangma Cement Co, reported a 112.95 per cent loss in net profit for the first half of 2012 to CNY11.64m (US$1.8m) China Business Newswire reports. In the six months to June, the company’s operating revenue was down 6.21 per cent to CNY885m. Basic losses per share stood at CNY0.02. |
Iberian impairments push Cimpor into a loss31 August 2012, Published under Cement NewsCimpor’s first half turnover declined by 5.5 per cent to €1086.8m, as the deterioration in Spain, Portugal and China could not be compensated for by improvements elsewhere. EBITDA was down by 15.3 per cent to €267.4m. The deterioration on the Iberian peninsula led to provisions of €270m being taken in respect of the Spanish assets and a further €20m against the downstream assets in Portugal, giving a total value adjustment charge of €407.2m compared with €117m. This led to a trading loss ... |
Taiwan Cement to invest in strengthening position in China30 August 2012, Published under Cement NewsTaiwan Cement Co (TCC) is to invest TWD9bn (US$300m) annually over three years in China to achieve a production capacity of 100Mta by 2016, according to the company’s head. Chairman, Leslie Koo, said TCC’s investment this year will focus on second-phase plant construction in Anshun, Guizhou province in China, Taiwan Economic News reported. While Chinese cement demand has lagged of late due to the effects of the European sovereign debt crisis and domestic macroeconomic controls, Koo hig... |
Tangshan Jidong Cement majority shareholder increases stake, China30 August 2012, Published under Cement NewsTangshan Jidong Cement announced that its controlling shareholder, Jidong Development Group Co Ltd, has acquired a combined 14.01m shares, ore a 1.04 per cent stake in the company between 11 July 2012 and 28 August 2012. As of 28 August, the controlling shareholder holds 526m shares, or a 38.32 per cent stake in Jidong, according to reports from China Business Newswire. Tangshan Jidong Cement is based in the Hebei province of China. |
JP Morgan lowers BBMG Corp target price, China29 August 2012, Published under Cement NewsJP Morgan has lowered its target price for BBMG Corp to HK$5.5 from HK$6.3 and maintained its ‘neutral’ rating. The research house says the weakness in the cement business was offset by BBMG’s robust property development business where revenue and gross profit both saw 42-44 per cent YoY growth. JP Morgan expects the stock to continue trading sideways although it might outperform its cement peers due to its property exposure. (Source: ET News Agency). |
China quarry blast death toll rises29 August 2012, Published under Cement NewsThe death toll from a quarry blast at a south China cement factory earlier this week has risen to 10 while 18 other have been confirmed injured, local authorites have said. The blast occurred on Monday afternoon at the Longshan Cement Company in Yingde, Guangdong province, Xinhua news agency reported . The blast has resulted in the death of eight of the company’s workers, a driver from an explosive sales company and a security guard, Liu Weirong, spokesperson of the Yingde municipal g... |
China cement plant explosion kills nine28 August 2012, Published under Cement NewsAn explosion at the quarry of a cement plant in southern China killed nine people and left one person missing, the official Xinhua News Agency reported, citing local authorities. The blast occurred at around 2:30pm at the Hailuolongshan cement plant in Yingde city in the southern province of Guangdong, when workers were unloading explosives off three trucks, the report said, citing a city government statement. The trucks were carrying 13t of explosives and workers had already unloaded 6t ... |
China Shanshui Cement first-half net profit falls 41 per cent28 August 2012, Published under Cement NewsChina Shanshui Cement has reported a net profit of CNY728m (US$114m) for the first half of 2012, representing a decline of 41 per cent YoY on the back of a slowing demand. In the period its operating revenue slid 5.8 per cent YoY to CNY7.38bn, with basic earnings per share of CNY0.26. Zhang Bin, Vice Chairman and General Manager of Shanshui Cement, said: “In the first half of 2012, affected by a contraction in China’s macro economy and slowdown in fixed asset investment, industry demand sl... |
Jidong Cement's 1H12 profit down 85 per cent23 August 2012, Published under Cement NewsTangshan Jidong Cement Co Ltd, a construction materials manufacturer and distributor based in Tangshan, Hebei province, has announced its net profit attributable to shareholders plunged 85.05 per cent YoY to CNY112m (US$17.6m) in 1H12. In the first six months of this year, Jidong Cement saw its operation revenue decreased 10.68 per cent from a year earlier to CNY6.38bn. Basic earnings per share were CNY0.08 for the period. In the reporting period, the company produced 25.96Mt of cemen... |