Anhui Conch Cement Invests $347m

Chinese cement producer Anhui Conch Cement Co spent 2.87 bln Chinese yuan ($347m) in capital investments and stake purchases in 2004, it was reported on April 29, 2005. The company also plans to invest 2.6 bln yuan ($314m) in 2005. Anhui Conch Cement produced 31.8Mt  of clinker and 32Mt of cement in 2004, up 53 per cent year-on-year. The company’s cement sales stood at 37.6Mt in 2004, up 47 pct year-on-year.

As a result of higher raw material prices, the company’s gross profit rate fell in 2004 to 33.4 pct, from 41.97 pct in 2003. The gross profit rate in clinker production was 31.56 pct in 2004, down from 45.2 pct in 2003. Spending on energy accounted for 61 pct of production costs in 2004, up from 54 pct in 2003.