Cement News tagged under: Sinoma
Sinoma nine-month net profit down 76 per cent, China30 October 2012, Published under Cement NewsSinoma said its net profit attributable to equity holders of parent dropped 76.41 per cent YoY to CNY305m (US$48.9m) for the nine months ended 30 September 2012. Its basic and diluted earnings per share were CNY9 cents. Operating revenue was CNY36.73bn, an increase of 3.5 per cent from a year earlier. Morgan Stanley said the fall in profit missed market expectations and expects Sinoma’s 2013 earnings to stay flat. |
Guangdong producers buy CO2 permits19 September 2012, Published under Cement NewsFour cement producers in China's Guangdong province have bought 1.3 million CO2 permits from the local government at CNY60/unit (EUR7.25), according to local press. China Resources Cement, Sinoma, Taipai and Yangchun Hailuo bought the permits in a bid to hedge their carbon exposure as they plan to expand cement production capacity by 25Mta over the next few years, newspaper 21st Century Business Herald reported on Tuesday. Under the Guangdong Emissions Trading Scheme (ETS), the biggest... |
Morgan Stanley sees China recovery from 4Q1217 September 2012, Published under Cement NewsMorgan Stanley (MS) believes that the China cement industry showed some early signs for recovery, noting that prices have stopped declining on rising property construction following accelerating land sales. In addition, land sale revenue can help governments on construction capital. Therefore, MS believes that cement demand has turned steady, and a recovery can be expected in 4Q12 - 2013. The Bank added that with the slump in earnings, the cement manufacturers reduced capital expenditu... |
Yu Shiliang announced as new Sinoma chairman, Chairman06 September 2012, Published under Cement NewsFollowing the sudden death of Sinoma chairman Tan Zhongming on Sunday, the company has announced that vice chairman Yu Shiliang will succeed him as chair. Tan, who was in his late 50s, reportedly died of a heart attack while in France for a company roadshow. However, a statement by Sinoma said that he passed away “due to illness.” The state-owned company is one of China's five biggest cement producers. Tan was also a director of Sinoma's Shanghai-listed subsidiary, Sinoma International... |
Southern Province Cements signs contract with Sinoma for Line No 331 May 2012, Published under Cement NewsSouthern Province Cement (SPC) and Chinese engineering company Sinoma have signed a SAR707m (US$188m) contract for the installation of a third new line at SPC’s plant in Tuhama. In a filing to the Saudi bourse, the cement producer said the contract will be executed over 24 months and once completed, the new line will have a capacity of 5000tpd. SPC said it will use its own funds to finance the project. In early March, the company announced that its second production line at Tuhama sta... |
Sinoma completes biggest cement factory in sub-Saharan Africa13 February 2012, Published under Cement NewsSinoma has completed a 6Mta cement plant in Nigeria for Dangote Cement Group. The US$1.6bn plant was formally unveiled on Thursday evening by Nigerian President Goodluck Jonathan at Ibese in southwest Nigeria's Ogun State. Aliko Dangote, chairman of the Dangote Group, said the new plant would generate 7000 direct jobs and many indirect jobs, noting that the Ibese plant is the biggest cement factory in sub-Saharan Africa. "With the commissioning and full operation of the plant, Nigeria wi... |
Iraq – open for business22 November 2011, Published under Cement NewsLast September, a delegation of senior ministers from Iraq’s government convened in London for the first Iraq Mining conference. The message they wanted to convey was that Iraq, after decades of war and uncertainty, is now ready for business. The economy is open to foreign investors, security has improved, and the opportunity is there for those who wish to seize it. In this exclusive report, ICR examines the potential for the cement sector in Iraq. Iraq has experienced unimaginable t... |