Cement News tagged under: China

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Cemento Panam installs new MVR mill in Dominican Republic

02 June 2023, Published under Cement News

Cemento Panam , part of the Estrella Group, is to install a state-of-the-art MVR vertical mill from Gebr Pfeiffer at its plant in the Dominican Republic. This marks the first such mill to be installed in the country. The MVR 3750 C-4 mill will be equipped with a latest generation SLS 4000 VC classifier and will grind several blended cements at up to 155tph to finenesses up to 4800 cm²/g (Blaine). The order will be handled by the Chinese general contractor CBMI.

Cement production growth fuels record-high emissions in China

23 May 2023, Published under Cement News

A 4.1 per cent YoY increase in China’s cement production in the first quarter of 2023 has contributed to a four per cent rise in the country’s CO 2 emissions, marking a record high for the first quarter of a year. According to Carbon Brief, the uptick was driven by a economic rebound following the end of China’s zero-COVID-19 policy, which led to oil consumption advancing by 5.5 per cent, coal consumption up by 3.6 per cent and gas use expanding by 1.4 per cent. Steel production also re...

Can CBAM create a level playing field for CO2 emissions?

19 May 2023, Published under Cement News

This week, Eurostat released the EU cement industry statistics for 2022. There has been little change from 2021 when EU27 imports of cement and clinker totalled around 9.5Mt, but in 2022 imports rose above 10Mt for the first time. It is a rising trend that has continued to evolve since pre-2016, when clinker and cement imports to the EU27 totalled less than 2.5Mt. Meanwhile, cement and clinker exports from the EU27 have slumped from nearly 25Mt in 2016 to around 13Mt in 2022 with the UK and ...

CNBM and GCCA discuss decarbonisation and environmental protection

19 May 2023, Published under Cement News

The Deputy Secretary of the Party Committee and General Manager of China National Building Materials (CNBM) Group, Li Xinhua, met with Thomas Guillot, CEO of the Global Cement and Concrete Association (GCCA), on 5 May in Beijing for discussions to promote carbon emission reduction in the global cement industry and the low-carbon environmental protection transformation of the cement industry. The two sides discussed in depth the policies, standards, technologies, social culture and othe...

Cementir posts 1Q23 revenue of EUR414.8m

10 May 2023, Published under Cement News

Cementir ’s revenue totalled EUR414.8m in the 1Q23, up 14.5 per cent from the 1Q22. EBITDA reached EUR81.2m, a 33.8 per cent YoY advance while profit before taxes totalled EUR63.9m, a rise of 50.7 per cent when compared with the 1Q22. Meanwhile, net debt stood at EUR32.1m at 31 March 2023.  Operating costs rose by 2.8 per cent to EUR342.5m when compared to EUR333.1m in the 1Q22. The cost of raw materials rose by 5.5 per cent YoY.   Cement volumes (white and grey) totalled 2.34Mt, a f...

China Resources Cement welcomes new CEO

19 April 2023, Published under Cement News

China Resources Cement Holdings Ltd has appointed Mr Jing Shiqing as its new chief executive officer (CEO), effective from 18 April 2023. Mr Jing is also an executive director and a member of the company’s Strategy & Investment Committee. He joined China Resources Group in July 2003 and served as deputy general manager of the human resources department from May 2018 to March 2021, as a non-executive director of the company from May 2018 to March 2021, and as a non-executive director of ...

China Resources Cement issues 1Q23 profit warning

13 April 2023, Published under Cement News

China Resources Cement Holdings Ltd has issued a profit warning for the first quarter of 2023 ended 31 March. Over the three-month period, the company expects to report a loss attributable to owners of the company of between HKD35m-45m (US$4.46m-5.73m), compared to a profit of HKD729.5m in the same period a year earlier. The loss has been attributed to the lower selling prices of the group’s products compared to the 1Q22, along with the one-off gain of HKD239.1m from the disposal of a s...

Huaxin acquires majority stake in Oman Cement

10 April 2023, Published under Cement News

Oman Cement Company SAOG has confirmed the successful completion of a share purchase agreement between The Investment Authority Company SPC (representing the government’s stake in the cement manufacturer), and Huaxin (Hong Kong) International Holdings Limited. Under the agreement signed last month, Huaxin acquired 59.58 per cent the share capital of publicly traded Oman Cement for a consideration estimated at USD193.1m. The buyer, Huaxin, has assigned its ownership right to Abra Holdings...

BBMG Corp posts 17% fall in revenue in 2022

30 March 2023, Published under Cement News

China’s BBMG Corp has posted a 16.8 per cent YoY decline in revenue in 2022 to CNY102,822.2m (US$14,938m). Net profit over the same period fell 66.6 per cent to CNY1739.9m, while basic earnings per share contracted from CNY0.27 to CNY0.11. Sales of cement in 2022 came in at 78Mt, while clinker sales reached 8.9Mt, giving a combined annual sales volume of 86.9Mt, marking a 12.8 per cent YoY decline. According to the National Bureau of Statistics of China, national cement output in 2022 was...

CNBM reports 17% drop in sales in 2022

27 March 2023, Published under Cement News

China National Building Material Company Ltd (CNBM) has reported sales of CNY230.167bn (US$33,441m) in 2022, down 16.5 per cent YoY from CNY275.618bn in the previous year. Net income over the same period fell from CNY17.094bn to CNY8.650bn, while basic earnings per share declined from CNY1.932 to CNY0.944. Net profit fell to CNY7.96bn in 2022 compared to CNY16.3bn in 2021, down 51 per cent YoY.  According to the company, cement production contracted 10.5 per cent to a decade-low of 2.13bt ...