Cement News tagged under: China
Conch acquires stake in Xingjian Qingsong, China25 June 2012, Published under Cement NewsAnhui Conch Cement Co has completed the acquisition of a 19.99 per cent stake in Xinjiang Qingsong Building Materials and Chemicals (Group). The company said in a statement filed with the Shanghai Stock Exchange that, together with an Anhui Province-based subsidiary, it bought 137.8 million shares of Qingsong Building Materials through a private placement. Qingsong Building Materials earlier announced plans to issue up to 262 million shares at CNY13.53 a piece through a private placeme... |
Asia Cement to build plant in Northern China22 June 2012, Published under Cement NewsAsia Cement has announced plans to build a new plant 10Mta plant in Handan, Hebei province, marking the Taiwan-based producer’s first foray into the North China Market. Taiwan Economic News reported Asia Cement vice chairman, TS Chang , as saying that the new plant will have a capacity of 10Mta, comprising two kiln lines, and will be operational by 2015. The project is expected to cost TWD20bn (US$670m). Currently, Asia Cement’s investments in China are concentrated in the central and ... |
Taiwan Cement: cautiously optimistic on second-half prospects22 June 2012, Published under Cement NewsThe implementation of various infrastructure projects in Taiwan is expected to help improved market conditions in the second half of this year, the head of the country's leading producer has said. Chairman of Taiwan Cement Corp, Koo Cheng-yun, said during a recent shareholders' meeting that he is cautiously optimistic on the industry’s second half outlook due to various factors. “Taiwan industries will walk out of the shadow of the European debt crisis, and public infrastructure projects ... |
Tangshan Jidong Cement acquires majority stake in Wubao Jidong, China22 June 2012, Published under Cement NewsTangshan Jidong Cement announced it has acquired a 51 per cent stake in Wubao Jidong Special Cement for CNY173m, reports Securities Times, citing a company filing yesterday. At the same time, Shandong Linqu Shengwei Special Cement acquired a 10 per cent interest in Wubao Jidong Special Cement for CNY34.1m. According to Tangshan Jidong Cement, the acquisition will not have a significant impact on its fiscal or operational status and it will enhance its market share in Shaanxi special ce... |
China prices continue to fall21 June 2012, Published under Cement NewsThe average price of cement across China last week fell 0.83% to CNY336.25/t compared to the previous week. Cement prices have been falling since the end of April registering price adjustments of CN10-50/t mainly in Beijing, Hebei and Anhui. According to industry portal Digital Cement, the price of cement in Beijing and Hebei continued to fall last week by CNY20-50/t and the price in Beijing has dropped CNY120/t since the beginning of May.??It has also been reported that a number of prod... |
Signs of recovery for China’s cement sector18 June 2012, Published under Cement NewsAnalysts at brokerage Daiwa have noted "green shoots of recovery" for China's cement sector. It says growth for infrastructure investment has rebounded for three consecutive months and industry inventory levels are set to fall; "we expect the government's policy loosening to accelerate construction activity, resulting in an uptrend for cement demand and prices starting from 2H12." |
West China Cement profit warning15 June 2012, Published under Cement NewsWest China Cement (WCC) warned that its net profit in the first half of this year is expected to plunge more than 50% on-year due to a drop in cement price. This follows a warning from industry peer, Anhui Conch Cement who last week also issued 1H profit warnings. DBS Vickers expects WCC's earnings are bottoming out as cement prices are recovering. It keeps the stock at Buy with a target price of HK$2.27 but says WCC's shares have rallied 35% year-to-date, significantly outperforming peers ... |
China prices continue to fall13 June 2012, Published under Cement NewsThe average price of cement across China last week fell 0.83 percent week-on-week to CNY336.25/t, reports Shanghai Securities News. According to the report, the price of cement has been falling for several weeks since the end of April. Price adjustments of CNY10-50/t mainly occurred in Beijing, Hebei and Anhui. |
West China cement wins railway supply project13 June 2012, Published under Cement NewsWest China Cement Ltd (WCC) has received a contract to supply 120,000t of cement for the construction of the Lanzhou-Chongqing Railway project. WCC will be supplying cement for the section of the railway that passes through Longnan District, Gansu Province. The Lanzhou-Chongqing Railway will stretch from Lanzhou City of Gansu Province to Chongqing City, with a total length of approximately 944.9km, of which a major part of the construction is bridges and tunnels. The project is scheduled... |
Bank of China runs Inner Mongolian cement producer debt offer12 June 2012, Published under Cement NewsBank of China Ltd has been mandated as lead underwriter and book-runner of Inner Mongolia Mengxi Cement Co's planned debt offering worth CNY400m (US$63m), China Knowledge reports today, citing unnamed sources. The Chinese cement producer plans to sell CNY400m of 365-day unsecured bills on 15 June. The bills will be issued on the interbank market and the coupon rate will be set during the book-building process. It plans to use half of the proceeds from the issuance for working capital. It ... |