Cement News tagged under: West China Cement
Fitch: West China Cement's weaker operating results outweighed by Anhui Conch's takeover18 March 2016, Published under Cement NewsFitch Ratings believes West China Cement Ltd's weaker operations – as reflected in the 2015 results – is outweighed by its pending takeover by Anhui Conch Cement Company Limited (Conch, A-/Stable). Fitch's Rating Watch Positive on WCC is driven by the potential further integration between Conch and WCC, which will be resolved once the transaction is completed. WCC's performance in 2015 was a reflection of the weak cement market throughout the year. Its EBITDA margin narrowed to 26.6 per c... |
S&P: West China Cement stays on CreditWatch Positive01 March 2016, Published under Cement NewsStandard & Poor's (S&P) Ratings Services said that it continues to keep the ratings on West China Cement on CreditWatch with positive implications while the company awaits regulatory approval to: (1) issue new shares to Anhui Conch Cement Co, and (2) acquire the latter's cement assets. "We are still awaiting details of the transaction. We also need to further clarify with both management teams regarding WCC's capital management, growth strategy, board composition, and any change to WCC's e... |
West China Cement becomes the 6th Chinese company to join the CSI07 December 2015, Published under Cement NewsWest China Cement Ltd (WCC) has become the sixth Chinese company to join the Cement Sustainability Initiative (CSI). WCC is the leading cement producer in Shaanxi Province, China, with its headquarters in Xi'an, a key gateway to the western region of China. In recent years, WCC has acted as a consolidator of cement assets in Shaanxi province and has also expanded production into both Xinjiang and Guizhou Provinces in western China. The group has a current annual capacity of 29.2Mta of cem... |
Anhui Conch to double West China Cement stake30 November 2015, Published under Cement NewsAnhui Conch Cement Co has agreed to more than double its stake in West China Cement Ltd for HK$4.59bn (US$592m). Conch International Holdings (HK), a wholly owned unit of Anhui Conch, plans to increase its holding in Shaanxi-based West China from 21.17 per cent to to 51.57 per cent, the companies said in a filing to the Hong Kong exchange Friday. If the transaction goes through, Anhui Conch will have to make a mandatory cash offer for all shares of West China it doesn’t own, the filing show... |
West China Cement to acquire Shaanxi-based producer02 November 2015, Published under Cement NewsWest China Cement said it agreed to acquire the entire equity interest of Tongchuan Yaowangshan Ecological Cement Co Ltd as well as shareholder's loan at CNY767m (US$121m). Yaowangshan Cement is located in the Yaowangshan region of Tongchuan District, Shaanxi Province. The Yaowangshan cement plant that it operates is primarily engaged in the production and sale of cement, with a 2.2Mta cement capacity. The move is part of efforts to facilitate consolidation in the sector in Shaanxi... |
Italcementi01 October 2015, Published under Cement NewsItalcementi has sold its 5.24 per cent stake in West China Cement for HKD341m (EUR38.5m). The stake had been held through CimFra (Chine) Ltd. |
Italcementi disposes of WCC stake21 September 2015, Published under Cement NewsItalcementi Group, via its affiliate CimFra (China) Ltd SAS, has disposed of its 5.24 per cent stake in West China Cement (WCC) for an upfront consideration of HKD341m, equivalent to approximately EUR38.5m, subject to later adjustments through a derivative contract with Credit Agricole CIB. The disposal of the minority WCC stake has no impact on EBITDA generation capacity at group level, Italcementi said in a statement on Friday. |
Moody's upgrades West China Cement to Ba3; stable outlook25 August 2015, Published under Cement NewsMoody's Investors Service has upgraded West China Cement Limited's (WCC) corporate family and senior unsecured ratings to Ba3 from B1. "The upgrade reflects the improvement in WCC's financial profile following the investment by Anhui Conch Cement Company Limited (A3 stable) in the company," says Franco Leung, a Moody's Vice President and Senior Analyst. At the end of June 2015, Conch had completed a subscription to shares equivalent to a 16.67 per cent equity stake in WCC. As a result, WCC... |
West China Cement first-half profit plummets18 August 2015, Published under Cement NewsWest China Cement Ltd’s net profit slumped 99 per cent in the first half as China's economic slowdown took a toll on cement consumption. The company said first-half net profit fell to CNY2.4m (US$375,120), down from CNY160.2m a year earlier. Its revenue fell 15.4 per cent to CNY1.69bn from HK$2.00bn a year earlier. |
West China Cement appoints Liu Shan as director07 July 2015, Published under Cement NewsWest China Cement has appointed Liu Shan as non-executive Director. The appointment became effective on 1 July 2015. |