Cement News tagged under: North Asia
Anhui Conch sees profit decline in 202321 March 2024, Published under Cement NewsAnhui Conch Cement has reported turnover of CNY140,999m (US$19,588m) in 2023. This compares to CNY132,021m in the previous year. Gross profit declined from CNY27,190m in 2022 to CNY22,364m in 2023, while profit before tax contracted from CNY20,232m to CNY13,869m over the same period. According to the company, profit for the year came in at CNY11,018m in 2023, down from CNY16,357m in 2022. |
West China Cement Ltd announces a 65% drop in net profit20 March 2024, Published under Cement NewsWest China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period. As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before. Following West China Cement’s poor financial performance, the company has vowed to implement cost c... |
Chia Hsin Cement Corp sees sales advance YoY13 March 2024, Published under Cement NewsTaiwan-based Chia Hsin Cement Corp has reported sales of TWD2911.6m (US$92.7m) for the full year 2023, marking an increase from TWD2253.7m in the previous year. Net income in 2023 came in at TWD81.1m, compared to a net loss of TWD180.8m in the year-ago period. Basic earnings per share from continuing operations stood at TWD0.12 in 2023m, up from a basic loss per share of TWD0.27 in 2022. |
Disappointing trend continues in Japan08 March 2024, Published under Cement NewsJapan cement sales shrank 5.5 per cent YoY in the first month of 2024, marking a continuing trend. Sales were 2.389Mt in January, down from 2.527Mt a year earlier, according to the Japan Cement Association (JCA). Since the mid-2010s sales have been in steady decline and contracted a further 5.6 per cent in 2023 to 35.377Mt from 37.488 in 2022. Lacklustre public sector and civil engineering works, which account for 47 per cent of construction activity, are dragging on demand. The resumption o... |
Arabian Cement to penalise CNBM on Rabigh project26 February 2024, Published under Cement NewsArabian Cement Co has confirmed that it will impose a delay damage penalty of five per cent on CNBM International Engineering Co for the Saudi cement producer’s new mills at its Rabigh plant. According to Zawya, the cement manufacturer first awarded the SAR362m (US$96.5m) engineering, procurement and construction (EPC) contract to CNBM in April 2015. Although the new cement mills are now completed, the project has been delayed due to discussions between CNBM and Sinoma Overseas Devel... |
SungShin Cement swings into the black in 202321 February 2024, Published under Cement NewsSouth Korea-based SungShin Cement reported a preliminary and unaudited revenue of KRW1.113trn (US$832,886) in 2023, up from KRW1.03trn in 2022. The company’s operating profit surged from KRW1.83bn in 2022 to KRW77.73bn in 2023 while net profit reached KRW65.75bn in 2023, a significant turnaround when compared with a loss of KRW26.47bn in 2022. SungShin operates the 11.3Mta Danyang integrated plant in Danyang-gun and the 0.5Mta Bugang grinding unit in Cheongwon-gun. |
China Cement Association and GCCA sign low-carbon future agreement02 February 2024, Published under Cement NewsThe two leading representative bodies of the global cement industry have signed a milestone agreement to help accelerate decarbonisation of the sector across the world. China Cement Association (CCA), which represents more than 50 per cent of the world’s cement production and the Global Cement and Concrete Association (GCCA), whose members account for 80 per cent of cement production capacity outside of China, have signed a historic partnership pledge. The pledge includes an agreement to wor... |
Sinoma wins Eastern Province Cement contract09 January 2024, Published under Cement NewsSaudi Arabia-based Eastern Province Cement Co has awarded the contract for a new cement production line to China’s Sinoma CDI. The new line, which is costing US$270m, will have a production capacity of 10,000tpd and will be located at Eastern Province’s existing site in Khursaniyah. According to Mist News, the contract covers design, supply, delivery, construction, and installation of the cement production line on the basis of a complete turnkey contract for engineering, supply, con... |
Taiwan Cement completes share agreement for Denizli Çimento13 December 2023, Published under Cement NewsTaiwan Cement Corp has finalised its agreement with OYAK Çimento to acquire a further 20 per cent stake in Denizli Çimento ,Turkey. According to Reuters this will boost Taiwan Cement's share in the company to 60 per cent. The preliminiary Memorandum of Understanding (MoU) regarding the deal was signed in November this year. Reuters has assigned Denizli Çimento a total enterprise value of US$1.42bn. |
Taiwan Cement commissions battery project06 December 2023, Published under Cement NewsTaiwan Cement Group has commissioned a 311MWh battery at its HePing plant in Hualien County, Taiwan. The battery has been supplied by NHOA SA, formerly Engie EPS, according to Renewables Now. The cement producer called the project “a bold statement of our dedication to renewable energy and a testament to our role in Taiwan’s ambitious journey towards carbon neutrality by 2050.” It marks the third energy storage system completed by NHOA Energy in the Asia-Pacific region in 2023 alo... |