Cement News tagged under: CNBM

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Eurocement inks US$500m Chinese supply deal

21 May 2014, Published under Cement News

Russian cement major Eurocement Group has signed a package of contracts with Chinese companies for equipment supply, engineering, installation supervision and employee training services, totalling over US$500m. The contracts were signed with units of China’s Sinoma, CNBM, and Sinomach. “The contracts signed 20 May 2014 imply a delivery of a complete set of equipment necessary for the construction of new production lines for the production of cement using the so-called dry method,” a press r...

Southern Province signs contract for new line at Bisha works

11 November 2013, Published under Cement News

Southern Province Cement Co's (SPCC) has signed a contract for the construction of a second production line at its Bisha cement works in Saudi Arabia, the company said in a bourse filing. The new production line will be built by Chinese contractor CNBM at a cost of SAR713m (US$190.1m) and take 20 months to complete. SPC said it will use a combination of Islamic financing and own funds to finance the project.

China National Building Materials (CNBM)

28 October 2013, Published under Cement News

China National Building Materials (CNBM) has entered into an agreement with Qatari Investors Group to expand the Al Khaliji Cement plant. Al Khaliji, a subsidiary of Qatari Investors Group, is planning to double clinker and production capacity at the plant to 12,000tpd and 14,000tpd, respectively. FLSmidth is to supply equipment and machinery for the US$190m expansion. With Qatar predicted to spend US$140-150bn on infrastructure over the next decade, and with no other major cement capacit...

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...

Sinoma makes Indian acquisition

12 April 2013, Published under Cement News

Sinoma International Engineering (Hong Kong) Co Ltd, part of China National Materials Group Corporation Ltd, has acquired a majority stake in India-based cement equipment manufacturer LNV Technology Pvt Ltd. According to the agreement, Sinoma International Engineering has purchased a 68 per cent share in LNV Technology while joint venture partners Mr VC Rao, managing director of the Chennai-based firm and LV Technology Public Co Ltd, hold around a 16 per cent equity share each in the comp...

Oyak inks second cogeneration deal with Shanghai Triumph Energy Conservation Engineering

11 April 2013, Published under Cement News

Shanghai Triumph Energy Conservation Engineering Co, has inked a deal with Oyak Group, Turkey, for a cogeneration project for its Bolu Cimento subsidiary. The deal follows the Aslan Cimento cogeneration project signed by the two companies on March 1. The signing of the two projects not only marks the beginning of Shanghai Triumph-Oyak cooperation, but also boosts  China National Building Materials Group Corporation's efforts for further development in the Turkish market. Located in...

Morgan Stanley sees China recovery from 4Q12

17 September 2012, Published under Cement News

Morgan Stanley (MS) believes that the China cement industry showed some early signs for recovery, noting that prices have stopped declining on rising property construction following accelerating land sales. In addition,  land sale revenue can help governments on construction capital. Therefore, MS believes that cement demand has turned steady, and a recovery can be expected in 4Q12 - 2013. The Bank added that with the slump in earnings, the cement manufacturers reduced capital expenditu...

Sinoma Intl warns of 30-50 per cent drop in 1H net profit

03 July 2012, Published under Cement News

Sinoma International Ltd announced yesterday that it expected its net profit to drop 30-50 per cent YoY in the first half of this year. In the first six months of 2011, the company's net profit was CNY739m. The company said the significant drop in net profit was in part due to a loss from an overseas project. In 2011, the company's net profit attributable to shareholders of the company surged 32.78% from the previous year to CNY1.46bn, with earnings per share at CNY0.41. Pre-tax profit r...

CNBM to inject capital into North Cement, China

29 June 2012, Published under Cement News

China National Building Material (CNBM) said it has entered into a capital contribution agreement with Jingang Group and Shanghai Zhentong with a view to contributing capital to North Cement, according to local press reports. CNBM will contribute about CNY2.81bn into capital of North Cement, with its interest in North Cement increasing to 70% from 55%. Jingang Group will contribute CNY437.5m, with its stake in North Cement reducing to 20% from 45%. Shanghai Zhentong will contribute CNY500m,...

Citi cuts CNBM, Conch target price, China

11 May 2012, Published under Cement News

Citi Group has cut the target price of Chinese players CNBM to Sell and Anhui Conch to Neutral and outlines the latter's latest moves in terms of suspended and new capacity. “We think the industry affiliation in East China market is breaking down. Mills are restarting suspended production lines to recoup volume. Demand is recovering, as we expected, however not as fast as the supply resumption. Price pressure should materialize in the next one to two quarters,” the house said in a statem...