Cement News tagged under: CNBM
China: order and growth06 March 2017, Published under Cement NewsFollowing 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 202010 October 2016, Published under Cement NewsThe 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 profit03 February 2016, Published under Cement NewsCNBM 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 order12 November 2015, Published under Cement NewsArabian 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 warning22 October 2015, Published under Cement NewsChina 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, China25 August 2015, Published under Cement NewsChina 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 offer30 July 2015, Published under Cement NewsShanshui 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 plant10 April 2015, Published under Cement NewsCNBM 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... |
Eurocement inks US$500m Chinese supply deal21 May 2014, Published under Cement NewsRussian 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 works11 November 2013, Published under Cement NewsSouthern 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. |