West China Cement said first-quarter sales doubled compared to those in the same period of 2010 to over 2Mt. March sales were particularly strong as they soared from those recorded in January and February. The company said sales volumes in 1Q11, traditionally considered an off-peak season, has made 15-20 per cent of total sales.
West China Cement will establish more production lines at its Xinjiang project which are expected to be completed in June or July 2012, Chairman and CEO Zhang Jimin told reporters after a shareholders’ meeting.
The company is looking for mergers and acquisitions opportunities to expand its cement output capacity but no specific target has been set for the acquisition size at this stage, and there is no immediate fund-raising need, Zhang said.
Financial Director Low Po Ling said West China Cement may raise product prices in May as supply shortfall may occur at that time.