Cement News tagged under: Anhui Conch Cement Co

RSS feed

Anhui Conch 1Q net profit sees 27% hike

29 April 2019, Published under Cement News

Chinese cement major Anhui Conch Cement Co posted a 27.3 per cent YoY increase in net profits in the first quarter of 2019 following strong growth last year. Conch Cement said in a filing to the Shanghai Stock Excchange it earned a net profit of CNY6.08bn (US$903.5m) in the first three months of the year. Revenues surged 62.5 per cent to CNY30.5bn.  

Peru's Invercem plans expansion

05 March 2018, Published under Cement News

Peruvian cement producer Inversiones en Cemento (Invercem) plans the construction of cement plants in Pisco and Ayacucho, according to its founder Victor de La Torre. The new works in Pisco will have a capacity of 0.22Mta while the Ayacucho facility will have an output potential of 0.45Mta The firm will invest US$18m into a 0.22Mta cement plant in Trujillo, where it currently operates a packing plant. At present it imports cement from China-based Anhui Conch Cement Co, selling it under th...

Anhui Conch to import drilling rig for 4500tpd plant

16 November 2017, Published under Cement News

Anhui Conch Cement Co expects delivery of an imported hydraulic drilling rig for its cement production project in Shaanxi province by February 2018. The US$1.7m rig will be installed at the limestone mine at the company’s US$61m cement facility in Tongchuan, Shaanxi province. The plant’s production capacity is around 4500tpd and construction is expected to begin in the 1H18. The rig is expected to meet Euro III standards and have a minimum aperture of 140mm.

West China Cement's merger with Anhui Conch collapses

03 October 2016, Published under Cement News

Shares in struggling West China Cement plunged by as much as 34 per cent after a much-needed merger deal with the country''s largest cement maker collapses. Hong Kong-listed shares of West China Cement dropped as much as 34 per cent to HK$0.71 when it resumed trading Monday morning, compared to the previous close at HK$1.07. It was trading at HK$0.81 at 11:00 am (0300 GMT). Major rival Anhui Conch Cement offered nearly US$600m for a controlling stake in the firm late last year, but China'...

Pakistan: Dewan Cement denies Anhui Conch interest

16 September 2016, Published under Cement News

China's Anhui Cement Co Ltd is reported by Pakistan's local media to have set its eyes on Dewan Cement Ltd (DCL) as it seeks business opportunities in Pakistan. While DCL shares have been trading heavily as a result in the past few months, DCL has denied rumours of a takeover. DCL Director, Haroon Iqbal, and Company Secretary, Muhammad Hanif German, said in response to a Pakistan Stock Exchange (PSE) query whether any Chinese company is buying a substantial stake in the company, "Chinese...

China: Anhui Conch suffers 32% profit fall in 2015

24 March 2016, Published under Cement News

China's largest cement maker, Anhui Conch, reported a 32 per cent fall in 2015 net profit on Wednesday, marking its first profit fall in three years as a slowing Chinese economy was reflected in a contracting construction market and reduced cement demand. Anhui Conch also warned that the cement industry's oversupply situation could worsen this year as growth in China's fixed investments was slowing on the back of the weaker economy, reported Reuters. "Market competition in the first half...

Anhui Conch to double West China Cement stake

30 November 2015, Published under Cement News

Anhui Conch Cement Co has agreed to more than double its stake in West China Cement Ltd for HK$4.59bn (US$592m). Conch International Holdings (HK), a wholly owned unit of Anhui Conch, plans to increase its holding in Shaanxi-based West China from 21.17 per cent to to 51.57 per cent, the companies said in a filing to the Hong Kong exchange Friday. If the transaction goes through, Anhui Conch will have to make a mandatory cash offer for all shares of West China it doesn’t own, the filing show...

Moody's: Conch Cement's 1H15 results are in line with its A3 rating

01 September 2015, Published under Cement News

Moody's Investors Service, (Moody's) says that Anhui Conch Cement Co Ltd's 1H15 results are in line with its A3 issuer rating and stable outlook. "Conch's strengthened market position and maintenance of low debt leverage in 1H15 continue to support its A3 rating, despite the pressures from industry overcapacity and the slowdown in infrastructure and property developments," said Franco Leung, a Moody's Vice President and Senior Analyst. Conch's revenue declined 15.8 per cent to CNY24.2bn ...

Prosperity considers Anhui Chaodong transaction

08 June 2015, Published under Cement News

Prosperity Minerals Investment Ltd (PMIL), a wholly-owned by Prosperity International, is contemplating a transaction involving Anhui Chaodong Cement Co Ltd (ACC), a company whose shares are listed on the Shanghai Stock Exchange (SSE) and in which PMIL holds about 18.06 per cent interests. ACC has applied to the SSE for the suspension of dealings in the shares of ACC for five trading days commencing from today, reported ET Net News Ltd.

Anhui Conch Cement Co

26 March 2015, Published under Cement News

2014 saw Anhui Conch report net profit gains of 17 per cent to CNY11bn (US$1.77bn), compared to CNY9.4bn the previous year. Cement and clinker sales for the year were also up, coming in at 249Mt, representing growth of 9.3 per cent versus 2013. Revenue for the year expanded from CNY55.3bn in 2013 to CNY60.8bn. But there was caution in the wind as demand for cement is expected to weaken following the expected slowdown in China’s economy causing house prices to contract. In the east of the ...