Cement News tagged under: China
Vortex Asia-Pacific reopens Shanghai office03 August 2021, Published under Cement NewsAs COVID-19 restrictions ease, solids and bulk handling components company Vortex Asia-Pacific is pleased to announce it has reopened a physical office in Shanghai, China. The new location is in the heart of downtown Shanghai and will serve Vortex’s customers in China and a variety of countries on the Asian continent. "We are extremely pleased that we can start to move on from the past 18 months and that our Asia-Pacific customers are getting all the support they need from our n... |
Tangshan Jidong sees cement and clinker sales rise 14%14 July 2021, Published under Cement NewsChina’s Tangshan Jidong Cement expects its net profit to rise 20-30 per cent YoY to CNY1.2-1.3bn (US$185-200m) in the first half of 2021, compared to CNY1bn in the year-ago period. The company has attributed the rise in profit to an increase in cement and clinker sales, continued strengthening of cost control and a decline in expenses. Its consolidated sales of cement and clinker advanced 14 per cent to around 48Mt. |
China and Canada collaborate for carbon capture12 July 2021, Published under Cement NewsA new collaboration between China Building Materials Academy (CBMA) and Canada's International CCS Knowledge Centre (Knowledge Centre) will see simultaneous advancements in understanding and knowledge sharing of carbon capture technology for the global cement industry, according to a press release. The first initiative under the agreement will aid CBMA in applying the Knowledge Centre's model and Front-End Engineering Design (FEED) of a test platform, which has a capture capacity of appro... |
Fitch rates West China Cement's proposed US$ notes as 'BB'28 June 2021, Published under Cement NewsFitch Ratings has assigned West China Cement's (WCC) proposed US dollar senior unsecured notes a rating of 'BB'. The proposed notes will be issued by WCC and guaranteed by WCC's existing subsidiaries, other than those organised under the laws of China. WCC plans to use the proceeds of the proposed notes for refinancing and general corporate purposes, including potential investments. Fitch highlights that WCC maintains a strong position in Shaanxi province, with a market share of around 25 ... |
Financial restructuring positions PCC for long-term recovery25 June 2021, Published under Cement NewsCompetent management is transforming PPC's prospects for the better. Under CEO Roland van Wijnen, the company has deconsolidated the company's Democratic Republic of Congo (DRC) operations, significantly de-risking the business, and improved its gearing with the sale of its lime business. Together with the tail wind provided by volume recovery in the core South African market, which has enabled the company to meet its interest payments, the JSE-listed cement producer may now be in a ... |
YTL Cement completes divestment of China subsidiary05 May 2021, Published under Cement NewsYTL Cement (Hong Kong), a subsidiary of YTL Corp Bhd, has finalised the disposal of its 100 per cent equity interest in Zhejiang Hangzhou Dama Cement Co Ltd (Dama Cement), according to local press reports. Dama Cement owns a cement plant in Lin’an district, Zhejiang Province, China. YTL Cement invested in the company in 2007 and has seen aggregate returns of about CNY1.3bn (US$200.8m), said a statement. The price of the disposal was undisclosed. “This is an ideal time for us to make an e... |
A change in direction for Taiwanese cement producers01 April 2021, Published under Cement NewsTaiwan's cement sector saw tremendous growth in 2020, after the country acted rapidly and very successfully to contain the COVID-19 pandemic. Cement consumption rose from 9.48Mt in 2019 to 10.07Mt in 2020, a rise of 6.2 per cent, according to data released by the Taiwan Cement Manufacturers' Association. Cement consumption previously exceeded 10Mt in 2015, when it peaked at 10.6Mt. It fell to 8.88Mt in 2017 before recovering to its current level, and in 2021 it is forecast to reach 10.36Mt,... |
China's imports from Vietnam rise 36%30 March 2021, Published under Cement NewsChina, the Philippines and Bangladesh were the biggest importers of Vietnamese cement in the first two months of 2021, according to the General Department of Vietnam Customs. China imported 2.43Mt of cement worth US$79.91m, up 36.1 per cent YoY and 22.8 per cent in volume and value, respectively. The volumes accounted for 40.6 per cent of Vietnam’s total export volume and 36.8 per cent of the country’s cement export value during the 2M20. The Philippines imported 1.1Mt at a value of US... |
West China Cement sees sales volumes rise 3%30 March 2021, Published under Cement NewsWest China Cement has seen its attributable profit decrease 13.4 per cent YoY to CNY1560m (US$237.48m) in 2020, compared with CNY1801.3m in the previous year. Revenue was down 1.6 per cent YoY to CNY7131m from CNY7247m in 2019, while EBITDA fell 3.3 per cent to CNY2997m. However, total cement and clinker sales volumes rose 3.1 per cent YoY to 19.9Mt from 19.3Mt. Cement volumes improved 4.3 per cent to 19.6Mt. |
Huaxin Cement Xiangyang Co Ltd invests CNY1.5bn in building materials industrial park22 March 2021, Published under Cement NewsThis year, Huaxin Cement Xiangyang Co Ltd is investing an additional CNY1.5bn (US$230.6m), in its original cement building materials project. Huaxin Xiangyang Building Materials Industrial Park will see the construction of an active calcium production project and a fine sand project over the next three years. The first phase of the 'Commercial-Concrete Integration' project will invest CNY40m to build a concrete production line with an annual capacity of 1Mm 3 . It is planned to be c... |