Cement News tagged under: China

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Gansu Qilianshan Cement expects 85% rise in profit

15 January 2020, Published under Cement News

China’s Gansu Qilianshan Cement expects to realise a net profit of around CNY1.21bn (US$174m) in 2019, an increase of approximately 85 per cent compared to CNY654.8m last year. The company has attributed the results to an increase in product sales and improved cost control after upgrading the efficiency of its production and operations.

West China Cement has new CFO

15 January 2020, Published under Cement News

Chu Yufeng has been appointed chief financial officer of West China Cement. The company stated that his predecessor Chan King Sau ceased to be CFO, according to Reuters.

China's 2020 demand growth forecast increases

10 January 2020, Published under Cement News

Nomura has increased its 2020 demand growth forecast for China from three per cent to five per cent following expectations that Beijing will continue to support its property and infrastructure sectors. The Asian financial services company has seen further room for Beijing to loosen its restrictions on property transactions and investment to shore up economic growth. Plans to build new city clusters will also stay on track and increase cement demand by providing a boost to infrastructure spe...

Huaxin Cement plans share buy-back scheme

20 December 2019, Published under Cement News

China’s Huaxin Cement has announced its intention to buy back company shares worth around CNY100-125m (US$14.21-17.76m) within the next 12 months. The company also stated its plans to issue offshore bonds worth up to US$500m. 

Dongwu Cement to sell stake in wastewater treatment company

18 December 2019, Published under Cement News

China’s Dongwu Cement has announced that its subsidiary, Xinhua Shanghai Investment Management Co, plans to divest its entire 62.26 per cent stake in Shanghai Biofit Environmental Technology Co. The total consideration for the divestment is estimated at CNY22m (US$3.14m). Shanghai Biofit and its subsidiaries are principally engaged in the treatment of organic wastewater and sludge, alongside the comprehensive treatment of urban organic waste.

China sees strong cement demand at the end of 2019

12 December 2019, Published under Cement News

A financial data provider has reported that average prices of cement in big Chinese cities have picked up 15 per cent since September, ending eight months of decline. The central government also lowered capital requirements for infrastructure projects such as railways, ports and toll roads. Cement consumption in the fourth quarter in China exceeded expectations . "There is a pronounced rebound in infrastructure construction towards the end of the year," said Chen Bolin, China Cement Associa...

Cemex subsidiary to enter Chinese market

20 November 2019, Published under Cement News

Cemex's venture capital unit has announced that it will be entering the Chinese market through a partnership with Glodon, a local provider of digital platform services for the industry, and Interdream Ventures, a venture capital firm seeking to digitise the construction and decoration industries. "This type of alliance between two joining segments is key to finding new successful business models and operating in the Chinese market," said Juan Nieto, Cemex Ventures' representative in Asia. ...

Renewed interest in CIMAIKO

14 November 2019, Published under Cement News

A Chinese company is reported to be interested in relaunching the CIMAIKO cement plant near Kisangani, in the Democratic Republic of Congo. A delegation consisting of Justine Mbombo, advisor to the Ministry of Industry, and the production manager of Yang Engow Engineering of China is prospecting the local area for limestone suitable for cement production. Yang Engow Engineering intends to start the installation of the plant as soon as possible, with January 2020 as a tentative date, acco...

China sees 7% increase in cement output during the 9M19

05 November 2019, Published under Cement News

China's cement output stood at 1.69bnt in the first nine months of 2019, up 6.9 per cent YoY, according to the Ministry of Industry and Information Technology (MIIT). During the period, the sector’s total operating revenue increased 14.3 per cent YoY to CNY719.9bn (US$102.4bn). Combined profits surged 25.3 per cent YoY to reach CNY131.8bn in the 9M19. However, cement prices saw continuous drops during the Jan-Aug period, with the August cement price index falling 6.3 per cent from January.

Gansu Qilianshan Cement increase building materials stake to 80%

04 November 2019, Published under Cement News

Gansu Qilianshan Cement Group Co Ltd has agreed to buy an additional stake in Gansu Zhangye Julong Building Materials Co Ltd. Following the acquisition, Gansu Qilianshan Cement will hold a stake of around 80 per cent in the company. On 6 June 2019 Gansu Qilianshan Cement acquired an additional 22.78 per cent stake in Gansu Zhangye Julong Building Materials, up from 26 per cent initially.