Cement News tagged under: Asia Cement
Asia Cement's appoints new CFO15 April 2016, Published under Cement NewsAsia Cement (China) Holdings Corp has appointed Wu Ling-ling as its new Chief Financial Officer, effective from 14 April 2016, reports News Bites Pty Ltd. Ms Wu, aged 49, has served as the CFO and Executive ViceP resident of Asia Cement Corporation since 2007. The former compamny CFO, Shao Ruey-huey, resigned from the position of executive director, CFO and authorised representative, due to her other career aspirations on 14 April 2016. Shao has confirmed that she has no disagree... |
South Korea: six cement producers fined05 January 2016, Published under Cement NewsSix local cement makers have been fined a combined KRW199.4bn (US$167.6m) for fixing the prices of cement products and divvying up the market by South Korea's antitrust watchdog, the Fair Trade Commission (FTC). The charged companies are: Ssangyong Cement Industry Co, Tongyang Cement & Energy Corp, Hanil Cement Co, Sungshin Cement Co, Hyundai Cement Co and Asia Cement Co. These cement producers have allegedly colluded on cement prices by controlling output and market share in 2011, accordi... |
Asia Cement issues 9M15 profit warning, China14 September 2015, Published under Cement NewsAsia Cement said it is expecting to record a net loss for the nine months ending 30 September 2015 compared to a net profit in the year-ago period. The expected loss is mainly attributable to the decrease in average selling price of the company's products and the foreign exchange loss from US dollar-denominated bank borrowings as a result of the devaluation of RMB. As a substantial portion of the Group's borrowings were US-dollar denominated which, in the past few years, had allowed ... |
Asia Cement still chasing full control of Shanshui Cement14 August 2015, Published under Cement NewsAsia Cement plans to raise convertible debt to gain full control of China Shanshui Cement. In a filing to the Taiwan Stock Exchange, the group said it hopes to raise US$400m from a zero-coupon issue, its first equity-linked deal in just over two years. This will fund its proposed takeover of Shanshui in which it owns a 20.9 per cent stake. On Wednesday Asia Cement and state-owned China National Building Material (CNBM) announced a joint conditional cash offer to purchase all the outstanding... |
Asia Cement 1H profit plunges, China06 August 2015, Published under Cement NewsAsia Cement (China) said its profit attributable to owners for the six months ended 30 June 2015 plunged 97.4 per cent YoY to CNY9.85m, attributable to the decrease in average selling price of the company's products. The revenue was CNY3006m, a decrease of 23.1 per cent from a year earlier. The gross profit margin on revenue dropped to 14 per cent from 24 per cent. |
China: Asia Cement gives 1H net profits warning27 July 2015, Published under Cement NewsAsia Cement said it expects to record a substantially lower net profit for the six months ended 30 June 2015 as compared with the same period in 2014. The decrease in net profit in first half of 2015 was primarily attributable to the decrease in average selling price of the company's products compared with that of the corresponding period of the previous year. It is expected the interim results announcement will be issued by the end of August. |
Asia Cement issues profit warning, China28 April 2015, Published under Cement NewsAsia Cement (China) said it expects to record a substantially lower – over 95 per cent – net profit for the first quarter of 2015 compared with the same period of last year. The expected decline is being primarily attributed to the decrease in average selling price of the company's products compared versus that of last year. Its quarterly results announcement will be issued by the end of April. |
Asia Cement in renewable energy schools project, Thailand07 April 2015, Published under Cement NewsAsia Cement, part of the Italcementi Group, has initiated the "25 Renewable Energy Schools Project" as part of the Thai cement producers corporate social responsibility, environmental and energy efforts. The project involves the installation of 4kW on-grid solar PV rooftops to be used alongside electricity distributed by the Provincial Electricity Authority (PEA) in 25 small and medium- sized schools. They are situated around three cement plants in Phra Phutthabat district located in Sarabu... |
Asia Cement (China) expects 30% rise in nine-month profit13 October 2014, Published under Cement NewsAsia Cement (China) Holdings Corp said Friday its profit for the nine months ending in September is expected to increase 30 per cent YoY. The company said in a statement that the increase is mainly due to a rise in sales volume and price of the company's products when compared with the same period last year. Asia Cement recorded a profit of CNY390.8m (US$63.8m) in the first nine months of 2013. |
Asia Cement anticipates pick-up in Thai demand10 October 2014, Published under Cement NewsThailand-based producer Asia Cement said it expects a pick-up in demand from late this year and into 2015 due to the government’s stimulus package and the launch of infrastructure projects. The Italcementi-group company forecasts Thai consumption for full-year 2014 to be on a par with last year’s figure of 34Mt. A five per cent increase is projected for next year. Managing director of Asia Cement, Roberto Callieri, told the Bangkok Post that while Asia Cement had faced challenging times s... |