Cement News tagged under: China National Building Materials
CNBM begins restructuring cement business05 March 2021, Published under Cement NewsChina National Building Materials (CNBM) has begun restructuring its cement business and has subsequently sold China United Cement, Sinoma Cement, as well as a 99.9 per cent stake in South Cement and a 95.7 per cent stake in Southwest Cement, to its Xinjiang Tianshan Cement subsidiary for a total consideration of CNY88.25bn (US$13.64bn). Tianshan Cement will issue 442,343,026 consideration shares for the amount, alongside a cash consideration of CNY3.97bn. CNBM will have an 87.5 per cent... |
CNBM adds 18.7% stake in Southwest Cement21 June 2018, Published under Cement NewsChina National Building Material (CNBM) said it agreed to purchase a 18.7 per cent equity interest in Southwest Cement Co from Zhonghai Trust Co Ltd for CNY1918m (US$295.1m). The acquisition would increase CNBM’s stake from 70 per cent to 88.7 per cent. It would strengthen CNBM’s bottom line, quality asset management and improve return on investment as the southwestern China market continues to improve as a result of supply-side structural reforms. |
China National Building Materials (CNBM)26 April 2018, Published under Cement NewsChina National Building Materials (CNBM) is set to conclude its merger with China National Materials (Sinoma) in the first week of May this year. The deal received final shareholder approval in December 2017. CNBM is expected to update its business registration at the Beijing Municipal Administration of Industry and Commerce soon after the transaction is completed. The merger brings together China’s leading cement producer and equipment manufacturer, forming the world’s largest cement pl... |
CNBM to acquire stake in Shanshui Cement28 October 2014, Published under Cement NewsChina National Building Material Co (CNBM) is set to acquire a 20 per cent stake in Shanshui Cement Group for HK$1.56bn (US$201m). Shanshui Cement will sell 563.2M new shares at HK$2.77 each, according to a statement to the Hong Kong stock exchange yesterday. Shanshui said it plans to use the proceeds to replenish working capital, reduce its debt level and improve efficiency. In a separate filing, CNBM said that the deal will promote cooperation with Shanshui and the “healthy development... |
China National Building Materials (CNBM)02 December 2013, Published under Cement NewsChina National Building Materials (CNBM) has reported a 37 per cent rise in revenue in 9M13. Total operating revenue stands at US$13.4bn, compared to US$9.8bn in the same period last year. However, total operating costs have also risen, up 41 per cent from US$9bn in 9M12 to US$12.7bn in 9M13. As a result, operating profit has fallen six per cent by US$772m and net profit is down by three per cent at US$789m. Elsewhere, China National Building Material’s Import and Export Corporation (CN... |
China National Building Materials (CNBM)28 October 2013, Published under Cement NewsChina National Building Materials (CNBM) has entered into an agreement with Qatari Investors Group to expand the Al Khaliji Cement plant. Al Khaliji, a subsidiary of Qatari Investors Group, is planning to double clinker and production capacity at the plant to 12,000tpd and 14,000tpd, respectively. FLSmidth is to supply equipment and machinery for the US$190m expansion. With Qatar predicted to spend US$140-150bn on infrastructure over the next decade, and with no other major cement capacit... |
Taiwan Cement and CNBM sign cooperation agreement04 January 2013, Published under Cement NewsTaiwan Cement Corp has signed a strategic partnership agreement with China National Building Material Co (CNBM) to expand cooperation between the two companies. According to Taiwan Cement, the agreement will include the exchange of information, capacity expansion in regional markets, R&D of high-quality cement, and innovation of production technologies. The two sides will also work towards the joint development of environmental technology. Koo Cheng-yun, Taiwan Cement Chairman, and sev... |
South Cement Co to issue short-term bills, China06 November 2012, Published under Cement NewsSouth Cement Co, owned by China National Building Materials Co, has announced it plans to issue CNY1.5bn (US$240m) in short-term bills with a maturity of 365 days in the interbank market on 12 November. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date are set on 13 November and the to-be-issued bills tradable 14 November. CNY200m of the proceeds from the issue wil... |
CNBM sees 2011 annual net profit doubling, China27 February 2012, Published under Cement NewsChina National Building Materials said it expects 2011 annual net profit to double on increased prices and higher cement sales and, according to some analysts, the company should now reap the benefits of its aggressive expansion plan over the last two years. CNBM said in a filing to the Hong Kong Stock Exchange that audited net profit for last year may increase by more than 100 per cent compared to 2010. In a statement, the company said: “In the year of 2011, driven by continuous i... |
Fujian joint-venture announced, China24 February 2012, Published under Cement NewsChinese cement producer, Fujian Cement plans to set up a joint venture, Fujian Jianfu Southern Cement, with its second-largest shareholder, Southern Cement to consolidate the cement industry in Fujian, a southeast province in China. Both companies will conduct mergers, acquisitions and expand production capacity, reports China Securities Journal, citing a company filing. Each company will hold a 50 per cent interest in the joint-venture will engage in cement-related activities under the ‘... |
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