Cement News tagged under: Anhui Conch Cement

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Anhui Conch Cement sees net profit decrease 19%

01 May 2020, Published under Cement News

China-based Anhui Conch Cement has seen its net profit fall 19.2 per cent YoY to CNY4.91bn (US$693.3m) in the first quarter of 2020, compared to CNY6.08bn in the 1Q19. Revenue also declined to CNY23.21bn from CNY30.5bn last year. The company has not disclosed its guidance for future earnings.

Anhui Conch Cement posts 13% increase in net profit for 2019

23 March 2020, Published under Cement News

China’s Anhui Conch Cement has announced a 13 per cent increase in net profit to CNY33.59bn (US$4.73bn) for 2019, compared with CNY29.81bn in the previous year. EBITDA advanced 9.5 per cent to CNY49.33bn from CNY45.07bn. Total sales surged 22.3 per cent to CNY157.03bn against CNY128.4bn in 2018. The company has attributed the positive results to higher sales of cement and other construction materials. It is also targeting CNY10bn of capital expenditure in 2020, which is expected to be used...

Big Asian producers in the frame for Holcim Philippines acquisition

28 March 2019, Published under Cement News

China's Anhui Conch Cement Co and Japan's Taiheiyo Cement Corp have been invited to the next round of bidding for LafargeHolcim's Holcim Philippines Inc, along with Eagle Cement Corp. Shares of Holcim Philippines have risen more than 50 per cent since January 2019, giving the cement maker a US$1.3bn market value, says Bloomberg. Holcim Philippines has also attracted interest from China Resources Cement Holdings Ltd and Hongshi Group Co, reports Bloomberg. Meanwhile, Holcim Philippines In...

Anhui Conch orders four bulkers from Jiangdong Shipyard

31 December 2018, Published under Cement News

Anhui Conch Group has placed an order at Sinotrans & CSC affiliated Jiangdong Shipyard for the construction of four 12,500dwt bulk carriers. The vessels are scheduled for dleivery in 2020.

Anhui Conch seeks finance for Ulyanovsk plant

31 January 2018, Published under Cement News

Anhui Conch Cement Company Ltd requires US$500m from financial institutions to bring its plan for a cement in Russia to fruition, according to Xu Yue, Anhui Conch's minister of equipment. Anhui Conch Cement signed an agreement with Ulyanovsk Oblast Development Group to develop the project together on 19 July 2016 and a joint venture was agreed in December 2016. Anhui Conch concluded that Ulyanovsk State's cement project was the best of a number of possible cement projects along the Federal...

The WCA welcomes Anhui Conch Cement as a member

18 January 2018, Published under Cement News

The World Cement Association (WCA) announced today that Anhui Conch Cement Company, also known as Conch Cement, has joined the global organisation as a founding member. The WCA now represents more than 1bnt of cement production capacity with its members from 35 countries. "Conch Cement's efficient operation and pioneering management and its efforts to work towards the sustainable development of the cement industry makes them a valuable partner and we are delighted to welcome them as a fou...

Anhui Conch to resume Indonesian project with US$240m credit

27 November 2017, Published under Cement News

Anhui Conch Cement has issued guarantees for loans likely to include US$90m facility provided by the company’s Indonesian branch, according to Anhui Conch investor relations. This is in addition to the 10-year US$151.5m loan applied for by its subsidiary Pabrik Semen China Conch from the Export-Import Bank of China (EIBC) in support of the planned resumption of the development of Pabrik Semen China Conch in Inobonto, North Sulawesi. The project, which the Chinese cement producer initiated...

S&PGR upgrades Anhui Conch Cement

06 September 2017, Published under Cement News

S&P Global Ratings (S&PGR) today raised its long-term corporate credit rating on Anhui Conch Cement Co. Ltd. (Conch Cement) to 'A' from 'A-'. The outlook is stable.   "We raised the rating on Conch Cement because we expect the company to continue to lower its financial leverage over the next 12-24 months owing to a likely improvement in its operating efficiency and a disciplined approach to investment and expansion," the rating's agency said.   In its base case, S&PGR expect Conch Cement's ...

Anhui Conch Cement Co revenue up 33.1%

22 August 2017, Published under Cement News

Anhui Conch Cement Co Ltd said revenue for the first six months ended 30 June 2017 increased by approximately 33.1 per cent YoY to CNY31,907.92m (US$4794m). Profit attributable to equity shareholders amounted to CNY6.7bn, representing an increase of approximately 100.64 per cent over the corresponding period of last year. The company attributed the boost to a ‘significant’ increase in prices and continued discipline with production and operation costs. During the period the group real...

Conch to begin Ulyanovsk plant construction in 2018

28 June 2017, Published under Cement News

Anhui Conch Cement of China plans to begin construction of a cement plant in Russia's Ulyanovsk region, in spring 2018, local media have reported citing the press office of the region’s Russian Development Corp. "At the moment, a legal entity has been established and the first staff recruited to coordinate all activities carried out under the project. The design work has begun. In spring of the next year, the company plans to start construction,” Sergey Vasin, director of the Ulyanovsk Reg...