Cement News tagged under: China
Cementir reports significant revenue increases in Europe in 202213 March 2023, Published under Cement NewsCementir's regional results showed significant revenue increases in Turkey, Europe, US and Malaysian markets. However, cement sales were under pressure in most regions. Cementir ’s Danish sales revenues in 2022 reached EUR509.8m, up 23.2 per cent compared to EUR413.9m in 2021, due mainly to the rise in sales prices. Overall cement volumes decreased by six per cent compared to previous year. White cement exports declined by 29 per cent. Ready-mixed concrete volumes in Denmark fell by five... |
Taiheiyo’s Jiangnan-Onoda suspends cement business in Nanjing, China01 March 2023, Published under Cement NewsTaiheiyo Cement Corp announced that its consolidated subsidiary Jiangnan-Onoda Cement Co Ltd has decided to suspend the cement manufacturing and sales business in Nanjing City, China. The competitive environment in China has become increasingly challenging due to the technical advances in local capital and the expansion of the scale of its production base. Therefore, Taiheiyo Cement has decided to suspend the operations of Jiangnan-Onoda Cement to focus on the policy set out in the group... |
West China Cement Ltd: new appointments03 February 2023, Published under Cement NewsDr Ma Weiping has resigned as executive director and chief executive officer of West China Cement Ltd , effective from 2 February 2023. According to the company, Dr Ma has chosen to leave “to devote more time to his other personal endeavours”. The board thanks Dr Ma for his valuable contributions to the company during his time at West China Cement Ltd. Effective immediately, Cao Jianshun has been appointed executive director and chief executive officer. Mr Cao has extensive experience i... |
Asia Cement forecasts 75% fall in profit20 January 2023, Published under Cement NewsAsia Cement (China) Holdings Corp has issued a profit warning stating that its unaudited profit attributable to equity holders for 2022 is expected to decline by approximately 75 per cent YoY. This is being blamed on a fall in sales volumes and selling prices of the company’s products, along with an increase in the cost of coal, compared to 2021. Full results for 2022 will be published at the end of March 2023. |
China Shanshui Cement issues profit warning for 202218 January 2023, Published under Cement NewsChina Shanshui Cement has issued a profit warning, saying that it expects to report a fall in profit of at least 70 per cent in 2022. According to the company, attributable profit for the year is forecast to have contracted by at least 70 per cent, compared to the CNY2.78bn (US$410.8m) recorded in 2021. |
China Resources Cement issues profit warning for 202213 January 2023, Published under Cement NewsChina Resources Cement Holdings Ltd has issued a profit warning saying that it expects its profit attributable to owners of the company to contract by 74-78 per cent YoY in 2022. The fall is being attributed to a rise in the unit cost of sales of cement products by the group in 2022, compared to the previous year, along with lower sales volumes over the 12-month period. 2022 also saw lower average selling prices for cement and clinker in the regions in which the company operates, versus... |
BBMG warns of 59% profit fall in 202213 January 2023, Published under Cement NewsChina-based cement producer BBMG Corp has announced that it expects to report a 52-59 per cent YoY decline in net profit attributable to shareholders in 2022. Net profit for the year is forecast come in at CNY1200m-CNY1400m (US$177m-207m). Net profit attributable to shareholders after deducting non-recurring profit and loss is predicted to be around CNY350m-550m, representing a YoY fall of 120-132 per cent. Over the same period the company recorded consolidated sales volumes of cement and... |
CR Cement opens new 10Mta aggregates line23 December 2022, Published under Cement NewsProduction has begun at the new aggregates line of China Resources Cement ’s (CR Cement) subsidiary Guangxi Runhan New Materials in Guangxi Province, China. It marks the third large-scale aggregates project by CR Cement in Guangxi in the last two months following those in Shangsi and Tianyang. The 10Mta line, located in Nanning, officially commenced production on 21 December 2022 and marks an investment of CNY1.3bn (US$186m). Construction began in May 2022. The company says that the pro... |
Chongqing Sifang resumes operations12 December 2022, Published under Cement NewsChina-based cement producer Chongqing Sifang New Materials has resumed operations following the lifting of COVID-19 restrictions in the country, according to Reuters. Prolonged pandemic control measures in China, coupled with the monsoon season in the south, kept demand for construction materials weak in the second quarter of 202s, reported Fitch Ratings. Government stimulus packages plus the relaxing of restrictions has led to an uptick in demand in the second half of 2022. |
Dongwu Cement chief investment officer resigns05 December 2022, Published under Cement NewsMr Chen Xuanlin has resigned as non-executive director and chief investment officer of Dongwu Cement International, effective from 2 December 2022. According to the company, Mr Chen is leaving to “pursue his career development and concentrate on his own business engagement.” “Mr Chen has confirmed that he has no disagreement with the Board and there are no matters with respect to his resignation that need to be brought to the attention of the shareholders of the company and The Stock E... |