Cement News tagged under: Huaxin Cement
The battle begins for the control of Mozambique's cement market27 September 2024, Published under Cement NewsMozambique is in the midst of a cement capacity rise. The country's oldest cement producer, Cimentos de Mocambique is looking to consolidate its lead by expanding its Dondo and Nacala plants. These projects will soon be commissioned. However, there is a new Chinese player on the scene that may have ambitions of taking the number one spot. According to the Mozambique Competition Regulatory Authority (ARC), the domestic scene currently involves 16 cement producers, but there are only five pla... |
Huaxin Cement posts flat revenues in 2Q2402 September 2024, Published under Cement NewsChina-based Huaxin Cement reported flat revenues of CNY9.15bn in the second quarter of 2024. The company’s net income was down 41 per cent YoY to CNY553.1m while the profit margin slipped to six per cent in the 2Q24 from 10 per cent in the 2Q23. Earnings per share declined to CNY0.25 in the 2Q24 from CNY0.46 in the year-ago period. |
Africa is the golden ticket for Chinese cement producers23 August 2024, Published under Cement NewsThis week the South China Morning Post pointed out that Chinese cement companies are keen to explore further market opportunities for expansion in Africa's growing cement markets. The lack of cement demand and falling cement prices in China is putting pressure on Chinese cement producers to look for higher margins abroad. Cement prices declined to CNY292/t (US$41/t) in 2023 in China, well below the CNY813/t produced by many African cement plants, claims the South China Morning Post. It is... |
China leads cement revolution in Africa09 July 2024, Published under Cement NewsCement demand in China continues to collapse, and profits are pitiful, leading to some Chinese cement companies accelerating an already aggressive drive into Africa. By Tony Hadley African Advisory Ltd, Cyprus. China leads the rush into the African cement industry: Huaxin Cement completes Maweni plant in Tanzania (© Embassy of China – Tanzania) S o firstly, to China. Cement demand had fallen from its 2014 peak by ~17 per cent in 2023 (see Figure 1), of no surprise to indu... |
Huaxin Cement wins WCA 2024 innovation award19 June 2024, Published under Cement NewsHuaxin Cement has won the Innovation Award of the World Cement Association 2024 for its Intelligent Low-Carbon Cement Manufacturing Technology (ILCCM). Huaxin is the only cement company with two consecutive WCA Innovation Awards, having previously won it in 2023 for its "Development and Application of Low Carbon and Nitrogen Reduction Ultra Large Scale Cement Production Technology and Equipment,” said the WCA. Under the leadership of CEO Yeqing Li, Huaxin has been recognised as a global... |
Huaxin Cement sees revenue advance 7% YoY01 May 2024, Published under Cement NewsHuaxin Cement has posted revenue of CNY7.08bn (US$977m) in the first quarter of 2024, ended 31 March, up 6.9 per cent on the same period a year earlier. Net income over the same timeframe declined 28 per cent to CNY177.5bn. Meanwhile, the profit margin fell from 3.7 per cent in the 1Q23 to 2.5 per cent in the 1Q24, reportedly driven by higher expenses. Earnings per share in the 1Q24 stood at CNY0.09, down from CNY0.12 in the year ago period. According to Simply Wall St, revenue exce... |
Huaxin Cement net income picks up in 202302 April 2024, Published under Cement NewsChina-based Huaxin Cement posted revenues of CNY33.8bn (US$4.671bn) in 2023, up 11 per cent when compared with the previous year. Net income edged up by 2.3 per cent YoY to CNY2.76bn in 2023, but the company’s profit margin slipped to 8.2 per cent from 8.9 per cent as the company saw an increase in expenses. Earnings per share (EPS) increased to CNY1.33 in 2023 from CNY1.30 in 2022. While the company’s revenue was in line with analyst predictions, EPS missed analyst estimates by one per... |
Companies circle for InterCement's assets26 February 2024, Published under Cement NewsCompanhia Siderúrgica Nacional (CSN) and a consortium led by Votorantim Cimentos , including Polimix and Buzzi, have made binding proposals for the purchase of the assets in Brazil of Loma Negra 's parent company InterCement Participações (InterCement), according to a local source. InterCement has commented that it has received a series of inquiries and expressions of interest in its assets during recent months. BTG Pactual Bank is assisting in evaluating strategic alternatives, such... |
InterCement assets in Brazil and Argentina are on other players' radar21 July 2023, Published under Cement NewsAccording to Valor, InterCement assets are being valued by local and global players. The operations of Loma Negra, Argentina, are being looked at by CEMEX , Pacasmayo and Argos . Loma Negra has nine plants and 45 per cent of the market. According to Valor, the Brazilian operation could raise the interest of Buzzi, Vicat, Votorantim, CSN, Titan and Mizu. However, no official comment has been made from the parties in the article. In Brazil InterCement has a total production c... |
InterCement sells African businesses to Huaxin Cement04 July 2023, Published under Cement NewsInterCement Participações S.A . has reached an agreement with Huaxin Cement Co Ltd regarding the sale of InterCement’s businesses in Mozambique and South Africa. Following the announcement of the sale of InterCement's operations in Egypt in January 2023, the sale of the remaining Mozambique and South Africa businesses further positively contributes to the group's ongoing liability management plans and the acceleration of InterCement’s broader strategic review to return focus to its core m... |