Cement News tagged under: BBMG Corp

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BBMG to sell 7 cement companies to Jidong Cement

10 January 2019, Published under Cement News

BBMG Corp has announced that it will sell the entire equity interests in seven cement companies to China’s Jidong Cement for a total consideration of CNY1.54bn (US$227.06m). BBMG and Jidong have also agreed to contribute CNY1bn to the registered capital of their joint venture, BBMG Jidong Cement (Tangshan) Co Ltd. According to a statement, the agreements are to resolve issues of competition between the two companies.

BBMG and Tangshan Jidong resume US$290m Zambia plant

27 November 2018, Published under Cement News

BBMG Corp and Tangshan Jidong Cement recently resumed work on the development of a 1.28Mta cement plant in Zambia. They will build the waste heat recovery unit and the first clinker production line. The preheater, kiln and clinker store are ready. Up to 60 per cent of the US$290m investment will be secured from Bank of China, the IFC and South-Africa based Nedbank Ltd. Around 20 per cent of the project capital has been invested by the project owners, Tangshan Jidong Cement will raise the r...

BBMG expects rise of up to 12% in net profit for 2017

17 January 2018, Published under Cement News

BBMG Corp expects a rise in net profit of 0.5-11.5 per cent YoY for the full-year of 2017, reports Nikkei. This translates to a net profit between CNY2.7bn (US$418.9m) and CNY3bn for the period. The significant increase shown in these preliminary results are the consequence of higher cement sales and better margins in the company’s cement and clinker businesses. After the deduction of non-recurring items, the net profit is expected to be between -11.7 and 4.6 per cent (CNY1.9-2.25bn) when...

China: new economic zone to boost cement companies' shares

06 April 2017, Published under Cement News

When the Shanghai stock market opens on Wednesday next week it is expected to see cement company shares rocket on the back of the announcement of a new Chinese economic zone outside Beijing at Xiongan New Area. The special economic zone will be three-times the size of New York with apartments and wetlands in northern Hebei province. The zone will be 100km southwest of Beijing and will cover 2000km 2 and will be similar to the economic ones in Shenzhen and Shanghai. Queues of potentia...

China: BBMG sells stakes to Jidong Cement

30 June 2016, Published under Cement News

Chinese building materials supplier, BBMG Corp has plans to sell its stakes in 31 cement-related companies to Jidong Cement. The stakes on offer are valued at CNY15.5bn (US$2.3bn). Tangshan Jidong Cement Co Ltd will eventually become a part of BBMG as part of an overall company restructuring. This move comes as the Chinese government tries to get rid of smaller or inefficient players in sectors such as glass, steel and cement. In May 2016 the government stated that it intends would give c...

China: BBMG Corp expects lower profit on weaker cement demand and pricing

15 January 2016, Published under Cement News

China-based BBMG Corp said it expects to record a 10-22 per cent decrease in net profit attributable to shareholders for the year ended 31 December 2015 compared to a year earlier. The fall in net profit is mainly attributed to the slowdown in macroeconomic growth and cement production overcapacity in the areas where the group operates, leading to sluggish demand and reduced selling prices versus 2014. Therefore, it recorded a significant decrease in the operating results for its cement seg...

BBMG Corp issues profit warning, China

14 January 2015, Published under Cement News

Chinese cement producer and property developer BBMG Corp said its 2014 net profit is expected to fall by up to 25 per cent from the year earlier, on weaker sales in the property market. The company did not give exact figures for its profit warnings, but said it posted a net profit of CNY3.2bn (US$523m) in 2013.

China: BBMG acquires 60% stake in Hebei line

02 January 2015, Published under Cement News

BBMG announced that the company held 60 per cent equity of Xingtai Yong Ning Cement through transference at a consideration of CNY245m (US$39.46m). Xingtai Yong Ning Cement owned two 2500tpd dry cement clinker production lines.

BBMG Corp issues profit warning, China

18 July 2013, Published under Cement News

BBMG Corp announced yesterday that it expected its net profit to fall not more than 15 per cent YoY in the first six months of this year, due to pricing pressures. The company's net profit was CNY1.39bn in the first half of 2012. The company's sales of cement and clinker increased 9.1 per cent YoY to 16.38Mt in the first half. Concrete sales volumes jumped 33.2 per cent YoY to 5.46Mm3 in the period. The company had earlier reported a loss of CNY61.21m for the first quarter of this yea...

Goldman positive on Eastern China markets

23 April 2013, Published under Cement News

Goldman Sachs said it remains positive on China's cement sector but continues to be regionally and stock selective. The investment bank expects further upside to cement prices in Eastern China, given its current lowest inventory across the regions, and least new capacity additions in the year, benefiting Anhui Conch and CNBM. However, Northern/Southern China's cement prices are already under pressure from high inventory/overcapacity. Goldman estimated NSP capacity to increase by 11 and 1...