Cement News tagged under: CNBM

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Arabian Cement postpones Rabigh grinding operation

12 October 2017, Published under Cement News

Arabian Cement Co expects the commercial operation of the grinding unit at its Rabigh plant, Saudi Arabia, to start in the 3Q18, instead of the earlier-announced 4Q17. Construction on the project is still ongoing and according to a statement to the Saudi Stock Exchange, the delay is attributed to the contractor who does not commit to the scheduled deadline. The financial impact of the new facility is difficult to determine as it depends on supply and demand in the cement market, said the ...

Major shareholder offers to sell stake in China Shanshui Cement

02 June 2017, Published under Cement News

China Shanshui Cement Group Ltd said on Thursday that a major shareholder had offered to divest its 25 per cent stake in the company for around US$600m. China Shanshui Investment (CSI) has invited three other big shareholders to buy its holding for HKD5.50 (US$0.71)/share, the Hong Kong-listed cement maker said in a filing, although it added that there was no certainty that a deal would be done. CSI made its offer to sell to Taiwan's Asia Cement Corporation, China National Building Materi...

China: order and growth

06 March 2017, Published under Cement News

Following a drop in apparent cement consumption in 2015, China’s cement industry has been destocking ever since. As a result, the country’s cement market has started 2017 on a positive note with cement inventories reported to be decreasing. This resilience is supported by improved producer discipline, increased cooperation between top players and robust government investment in infrastructure and housing. By Addison Dai, DBS Vickers, Hong Kong. China’s cement plants, such as Heidelber...

China: consolidation on production capacity by 2020

10 October 2016, Published under Cement News

The China Cement Association (CCA) has advised that the merger of leading cement companies will likely concentrate the industry’s capacity, informing that government that by year end 2020 more than 60 per cent of production capacity would be controlled by the top 10 companies. President of the CCA, Qiao Longde, said, “there are too many cement enterprises, which makes it very hard to utilise resources effectively." The industry is experiencing low efficiency and fragmentation as most plan...

China: CNBM warns of 70% drop in 2015 profit

03 February 2016, Published under Cement News

CNBM has issued a profit warning, predicting that the net profit for 2015 will be 70 per cent down YoY, mainly attributable to the slowdown in cement demand growth and severe overcapacity in the industry. As a result, the Chinese cement major saw a significant drop in cement prices. Earlier this week, Huaxin Cement also said it expects 2015 net profit to fall 90-95 per cent YoY due to weak domestic demand, intense competition and a sharp fall in cement prices.

Loesche wins new Saudi cement grinding order

12 November 2015, Published under Cement News

Arabian Cement Co (ACC) has placed an order with CNBM (China) for a cement grinding plant including two Loesche vertical roller grinding mills. ACC is planning to build a new brownfield cement line in Rabigh, Saudi Arabia, with a clinker production capacity of 10,000tpd.  Phase 1 of the project involves increasing grinding capacity prior to the completion of the new line (ie, Phase 2). Loesche's scope of supply includes two large  LM 63.3+3 vertical roller grinding mills with a table...

CNBM issues 9M15 profit warning

22 October 2015, Published under Cement News

China National Building Materials (CNBM) warned investors that its nine-month profit will likely plunge 80 per cent from a year earlier, implying that 3Q15 slipped into losses. CNBM blamed weak cement prices driven by a slowdown in demand and severe industry overcapacity. Barclays notes the profit alert points to a loss of CNY0.02 per share in the third quarter. It said that the profit warning is disappointing as it indicates cement prices in 3Q15 were weaker than expected by market. The ...

CNBM reports 56% drop in first-half profit, China

25 August 2015, Published under Cement News

China National Building Materials (CNBM) reported a 56 per cent decline in net profit for the first half of 2015, in line with the recent profit warning. JP Morgan's Asia Metals and Mining Analyst, Daniel Kang, notes that excluding a positive contribution from fair value adjustments to financial assets, a loss would have been reported. Operating cash flow fell 16 per cent YoY and restrained capex allowed a positive FCF to be maintained, albeit a hugely reduced figure, -76 per cent QoQ...

China: Shanshui Cement turn down share disposal offer

30 July 2015, Published under Cement News

Shanshui Cement's chairman and general manager, Zhang Bin, has told the press that in response to the possible acquisition of company shares from CNBM and Asia Cement China, company shareholders have decided to decline the proposed disposal of shares.  China Tianrui became the substantial shareholder of Shanshui Cement in April and proposed a change in the number of members in the board of directors. Afterwards, Asia Cement China and CNBM sent a letter and proposed for the entire acquisiti...

CNBM signs turnkey contract with Arabian Cement Co for 10,000tpd plant

10 April 2015, Published under Cement News

CNBM International Engineering Co Ltd has signed a turnkey contract with Arabian Cement Co for a 10,000tpd clinker line in Jeddah, Saudi Arabia. It is the largest order signed by CNBM Engineering in international cement engineering markets, the company said in a statement. At the contract signing, the CEO of Arabian Cement Company (ACC) said that he believed CNBM’s Engineering mode “CNBM Plus” would bring the best project quality and a rapid return on investment. Zhang Liao, General Manage...