Cement News tagged under: BBMG Corporation

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China's cement output rises by 6% in 1H19

29 August 2019, Published under Cement News

China's total cement output rose by 6.8 per cent in 1H19 to 1.045bnt. This was the fastest growth in the last six years, even though cement supply was still constrained by the policies of 'staggering peak construction' and environmentally restrictive production'. National demand for cement saw a YoY increase of more than five per cent with the northern region showing the fastest growth. The pricing and supply-demand balance in northern China, particularly in Beijing, Tianjin and He...

BBMG Corp expects increase in 2Q net profit

14 July 2017, Published under Cement News

BBMG Corp said it expects to record a net profit attributable to shareholders of between CNY1825m (US$269m) and CNY1900m for the six months ended 30 June 2017, as compared to the net profit of about CNY1821m for the same period last year. With the significant increase in the unit prices for cement and clinker in the first half of 2017 compared with the same period of last year, the profit for the cement segment increased significantly YoY, the company said.

BBMG expects 1Q net profit to increase to CNY380-450m

12 April 2017, Published under Cement News

China-based BBMG Corporation said it expects to achieve a net profit attributable to shareholders of CNY380m-450m (US$55m-65m) for the first quarter ended 31 March 2017, an increase from the CNY151m (US$21.9m) recorded in the same period of last year. An increase in operating results for 1Q17 is mainly due an increase in booked gross floor area for the property development segment compared with the same period of, thereby resulting in increased revenue and profit for the segment. The i...

Enersize signs new order wtih BBMG, China

22 March 2017, Published under Cement News

Enersize Oyj of Finland has signed an agreement to provide its  system for measurements and efficiency analysis of energy usage in industrial compressed air systems to the BBMG Liulihe Cement Plant in China. Enersize´s part of the yearly savings during the lifetime of the project will be agreed with the customer in the second project phase when the savings potential has been measured and identified through the Enersize system. Installation phase for the system will start in the second qua...

China Resources Cement and BBMG sign strategic co-operation agreement

20 December 2016, Published under Cement News

China Resources Cement said it has entered into a strategic co-operation agreement with BBMG Corporation. The parties will jointly explore the Chinese and overseas markets and further promote the advancement of the technology as well as the transformation and upgrade of the cement industry. Both companies will establish a market communications mechanism to strengthen the sharing of market information and experience in production, technology and business management on a regular basis, w...

China: BBMG can be optimistic for 2016

06 May 2016, Published under Cement News

Beijing Building Materials Group (BBMG) is looking favourably to the rest of the year as an upturn in its Chinese cement sales and higher prices are forecast. However, expansion overseas is not yet seen as a priority despite the Chinese President, Xi Jinping's, desire for Chinese firms to expand across southeast Asia. "Management remains positive on the demand pick-up in the region, given the support from the Beijing-Tianjin-Hebei (BTH) integration and overall improvement in the infrast...

BBMG sees net profit slip 16.7%

24 March 2016, Published under Cement News

BBMG Corp reported a fall in net profit for 2015. Its net income fell 16.7 per cent to CNY2.02bn (US$310m), declining for a second straight year. The cement and building materials supplier aims to bring in revenues of CNY41bn in 2016, roughly level with last year's CNY40.9bn, it said in a filing to the Shanghai stock exchange.

China: BBMG to issue CNY1bn medium term notes

09 October 2015, Published under Cement News

Cement producer and property developer BBMG Corporation announced that it will issue CNY1bn (US$157.6m) medium term notes on the interbank market on 14 October 2015 to be used to repay bank loans. The corporation said in a statement that the medium term notes will be issued at the face value, and the coupon rate determined in the process of bookbuilding. The issue may be redeemable on the fifth year, but, if it continues, there will be a new adjusted rate. Both value date and payment due d...

China: BBMG Corp’s CFO resigns

04 September 2015, Published under Cement News

Wang Hongjun, BBMG Corp’s chief financial officer, has resigned his post due to 'work re-designation' without further elaboration. The Beijing-headquartered cement producer and property developer did not disclose the replacement of Mr Wang, adding Mr Wang had also ceased to be an authorised representative of the company.

BBMG Corporation to acquire stake in Hebei Taihang Xuaxin, China

30 April 2013, Published under Cement News

BBMG Corporation has entered into an agreement to acquire a 66.67 per cent stake in Hebei Taihang Xuaxin Building Materials Co from BBMG Group Company Ltd. The transaction is valued at CNY131.88m (US$21.15m) in cash and will be paid by BBMG to BBMG Group Company within 15 days after the date of the equity transfer agreement.