Cement News tagged under: China

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Shengli and Kaifa resign from Anhui Conch

07 July 2017, Published under Cement News

Qi Shengli, supervisor and chairman of the supervisory committee of Anhui Conch, has tendered his resignation from the company, according to a statement released on 30 June. His resignation will become effective upon the appointment of a new supervisor, the Chinese cement producer noted. In addition, Yang Kaifa has resigned as company secretary of Anhui Conch, effective 28 June 2017. Chiu Pak Yue Leo remains a company secretary. A replacement for Mr Yang is to be recruited. In the interim...

Sinoma anticipates substantial rise in interim net profit

05 July 2017, Published under Cement News

China National Materials Company (Sinoma) said it expects the net profit attributable to the shareholders of the parent company for the six months ended 30 June 2017 to record a substantial increase as compared to the same period of last year. Such expected growth is mainly attributable to the increase in the prices and sales volume of cement. Its interim results announcement is expected to be published before the end of August, ET News reports.

Major shareholder offers to sell stake in China Shanshui Cement

02 June 2017, Published under Cement News

China Shanshui Cement Group Ltd said on Thursday that a major shareholder had offered to divest its 25 per cent stake in the company for around US$600m. China Shanshui Investment (CSI) has invited three other big shareholders to buy its holding for HKD5.50 (US$0.71)/share, the Hong Kong-listed cement maker said in a filing, although it added that there was no certainty that a deal would be done. CSI made its offer to sell to Taiwan's Asia Cement Corporation, China National Building Materi...

Shanshui Cement shareholder plans to sell shares

01 June 2017, Published under Cement News

Shanshui Cement announced that it received a letter from China Shanshui Investment Co Ltd, which holds a 25.09 per cent of shares, stating that it has invited Asia Cement, CNBM and Tianrui (International) to make an offer to acquire all its shareholdings in the company at US$5.50/share. If any of them makes the offer, it is expected that such party will be subject to the requirements under the Hong Kong Code on Takeovers and Mergers. Further announcement will be made by the company as and ...

China Tianrui Group Cement appoints executive director

17 May 2017, Published under Cement News

China Tianrui Group Cement Co Ltd announced that Ding Jifeng has been appointed as an executive director of the company, effective 15 May 2017.

China Resources Cement expects significant increase in 1H attributable profit

16 May 2017, Published under Cement News

China Resources Cement said it expects he Group's profit attributable to the owners for the six months ended 30 June 2017 to significantly increase as compared with that of the corresponding period in 2016. The expected growth was primarily attributable to the higher selling prices of cement products during the period, ET Net News Agency reports. The average selling price of the group's cement products was HKD291.40 (US$37.40) from January to April 2017, as compared with HKD229.70 for th...

Nepal plant project faces delays

28 April 2017, Published under Cement News

Construction of the Honshu Shivam Cement Factory, a Nepal-China joint venture, is likely to be delayed as the government has been slow to build a road leading to the limestone quarry, the Kathmandu Post reports. The Honshu Holding Group of China has invested NPR36bn (US$351m) or 70 per cent of the project cost into the venture, while its partners has invested the remainder. “A study has shown that NPR3bn will be required to construct the 40km road. However, the government has allocated...

Anhui Conch attributable profit up 86%

27 April 2017, Published under Cement News

Anhui Conch Group’s net profit attributable to equity shareholders increased by 86.41 per cent YoY in the first quarter of this year to CNY2.153bn (US$312m). Operating profit rose by 139.4 per cent in the reporting period and total profits were up by 92.81 per cent. The increases were partly attributed to the YoY rise in sales volumes and selling prices of the group’s products. Revenues rose 28.58 per cent to CNY13.6bn in the first quarter of this year. Non-operating income decreased by...

China: consolidation accelerates in the Shandong market

21 April 2017, Published under Cement News

The intention of Mitsubishi cement to withdraw from China's cement sector was confirmed on 14 April, having earlier signed an agreement with state-run China National Building Material to sell its stake in Yantai Mitsubishi Cement in Shandong province. Oversupply of the Shandong market and the stricter environmental regulations are taking their toll on local cement producers, while the government continues to urge its policy of industrial consolidation. There are still over 200 cement...

Mitsubishi Materials withdraws from China market

18 April 2017, Published under Cement News

Mitsubishi Cement plans to pull out of the Chinese cement market as tighter environmental regulations take their toll and the supply glut hurts the company’s profitability, according to Nikkei Report. The Japanese nonferrous materials maker signed an agreement on 30 March to sell a cement company in Shandong Province for an undisclosed sum to an affiliate of state-run cement giant China National Building Material. Mitsubishi Materials holds a 66.67 per cent stake in the Shandong compan...