Cement News tagged under: China

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Anhui Conch to import drilling rig for 4500tpd plant

16 November 2017, Published under Cement News

Anhui Conch Cement Co expects delivery of an imported hydraulic drilling rig for its cement production project in Shaanxi province by February 2018. The US$1.7m rig will be installed at the limestone mine at the company’s US$61m cement facility in Tongchuan, Shaanxi province. The plant’s production capacity is around 4500tpd and construction is expected to begin in the 1H18. The rig is expected to meet Euro III standards and have a minimum aperture of 140mm.

China National Building Materials (CNBM)

01 November 2017, Published under Cement News

China National Building Materials Group (CNBM) is in talks to integrate some of its 15 subsidiaries. The move follows the announcement in September this year of the merger between CNBM and China National Materials Group, another state-owned building materials player, also known as Sinoma. Of the 15 subsidiaries in question, three are listed overseas. T he aim of the merger is to consolidate and strengthen the core business of each subsidiary, boosting profitability and maximising their va...

Anhui Conch

01 November 2017, Published under Cement News

Anhui Conch Cement has seen its net profit advance by 64.3 per cent to CNY9.81bn (US$1.48bn) in the period 1 July 2017 to 30 September 2017. This compares to CNY5.97bn in the same period last year. Net revenue over the same period came in at CNY50.04bn, an increase of 31.9 per cent on the CNY37.95bn reported in July-September 2016. The improved revenue is being attributed to an increase in both sales volumes and price. However, the three-month period also saw the company’s cost of sale...

HK Stock Exchange may propose delisting China Shanshui Cement

27 October 2017, Published under Cement News

China Shanshui Cement Group Ltd said the Hong Kong stock exchange would seek to delist the firm if it was not able to restore a minimum public float of 25 per cent of its issued share capital by the middle of next year. The cement producer has been embroiled in a bitter boardroom battle involving investors and executives, and has been suspended from trading in the past two-and-a-half years, according to Reuters. The stock exchange had warned the company that it would have until 30 ...

China Resources Cement 9M profit up 216%

23 October 2017, Published under Cement News

China Resources Cement reported a 215.9 per cent rise in profit attributable to owners for the 9M17 to HKD2648.6m (US$ 339.4m) . Turnover increased 16.4 per cent to HKD20,344.9m in the first nine months. The consolidated gross profit saw a 36 per cent YoY advance to HKD6023.6m. The consolidated gross margin was 29.6 per cent, representing a rise of 4.3 percentage points over 25.3 per cent reported in 9M16. The increases in consolidated gross profit and gross margin were mainly attri...

Xinjiang cement industry returns to profit

19 October 2017, Published under Cement News

The cement industry in Xinjiang province is faced with higher rates of overcapacity than any other part of China, making losses in three consecutive years. However, sector reform is expected to return the industry to profit, according to a government official. Cement makers in Xinjiang have taken on a staged approach to operation, under which they stop production during the winter heating period and pick back up in the spring, which has played a positive role in reducing overcapacity. ...

China will impose new environmental tax from 1 January 2018

04 October 2017, Published under Cement News

Businesses in China are being urged to prepare themselves for a new environmental tax for the start of next year. China will abandon its current system under which polluters are charged locally in favour of the nationwide environmental protection levy to reduce air, soil and water contamination, reports South China Morning Post. The new regime will see firms that cause pollution taxed under a uniform set of national rules rather than the fees being collected at the local level. For instance...

Anhui Conch

25 September 2017, Published under Cement News

Anhui Conch saw its shares rise by five per cent earlier this month on the back of analyst predictions of a rise in cement prices. Limited supplies and an uptick in construction activity is expected to drive up all building material prices, including cement, in the closing quarter of this year. According to some analysts, cement prices in China the 4Q17 could surpass the high seen in the second quarter of this year. China’s average cement price rose by 0.3 per cent in the opening half of ...

CNBM & Sinoma merger could complete by year-end

12 September 2017, Published under Cement News

China National Building Material Group Co (CNBM) said that it will complete merging with China National Materials Group Corp (Sinoma) by December or early next year. The announcement came after nine subsidiaries of the two groups suspended trading last week. Various media outlets, quoting business insiders, indicated they were accelerating the merger. The merger was first unveiled in August last year after the State Council, or China’s Cabinet, approved the deal. The exchange ratio has ...

S&PGR upgrades Anhui Conch Cement

06 September 2017, Published under Cement News

S&P Global Ratings (S&PGR) today raised its long-term corporate credit rating on Anhui Conch Cement Co. Ltd. (Conch Cement) to 'A' from 'A-'. The outlook is stable.   "We raised the rating on Conch Cement because we expect the company to continue to lower its financial leverage over the next 12-24 months owing to a likely improvement in its operating efficiency and a disciplined approach to investment and expansion," the rating's agency said.   In its base case, S&PGR expect Conch Cement's ...