Cement News tagged under: China

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China Shanshui Cement wins injunction in ongoing dispute

13 April 2017, Published under Cement News

Shanshui Cement has obtained an injunction from a Hong Kong court that prevents former executives from removing assets worth up to CNY142m (US$20.6m) from Hong Kong and posing as directors or officers company, Reuters reports. China Shanshui said on Monday that current executives had been attacked with pepper spray, smoke bombs and water guns and held for two hours by associates of a former official when they had tried to retake control of company property in China. In a filing, the fi...

BBMG expects 1Q net profit to increase to CNY380-450m

12 April 2017, Published under Cement News

China-based BBMG Corporation said it expects to achieve a net profit attributable to shareholders of CNY380m-450m (US$55m-65m) for the first quarter ended 31 March 2017, an increase from the CNY151m (US$21.9m) recorded in the same period of last year. An increase in operating results for 1Q17 is mainly due an increase in booked gross floor area for the property development segment compared with the same period of, thereby resulting in increased revenue and profit for the segment. The i...

China Shanshui Cement says some properties of unit "illegally occupied" by Jingtian

10 April 2017, Published under Cement News

China Shanshui Cement today informed its shareholders that some properties of its Shandong Shanshui Cement Group unit were "illegally occupied" by Mi Jingtian, the former deputy general manager of Shandong Shanshui and his associates. The company said that on 8 April the directors of the company entered and tried to repossess the properties of Shandong Shanshui in Jinan city. It said the directors were held against their will by an unidentified crowd "commanded and organised by Mi Jingtian...

Asian cement 2017: looking to the future

29 March 2017, Published under Cement News

Following an exciting 2016, this year sees opportunities and challenges abound for the Asian cement industry. LEK Consulting gives an overview and outlines strategies that help position cement companies in this part of the world for long-term growth. By Manas Tamotia, LEK Consulting, Singapore, and George Woods, LEK Consulting, Australia. China's overcapacity will help to change the Asian cement market from a national into a regional game The year 2016 was an exciting one for As...

Anhui Conch in talks on Uzbekistan plant construction

28 March 2017, Published under Cement News

Representatives of China’s Anhui Conch Cement Co of China have visited Uzbekistan to discuss cooperation with local construction and production company Umar regarding the implementation of a cement plant in Samarkand, Novosti Uzbekistan news agency reported. Zhao Weiqiang, a senior official of Anhui Conch, said the company is looking to establish a footprint in central Asian countries, adding: “We have the intention to build here a cement plant with annual production capacity of 2Mt of cem...

China: Fujian Province cement plant collapse kills four

23 March 2017, Published under Cement News

Four people have died following the collapse of a structure at a cement plant in Zhangzhou City, eastern Fujian Province. The incident occurred on 20 March when a building in Zhongda cement plant in Kuiyang township, Nanjing County, collapsed. Four workers were trapped, with three dying at the scene and the other passing away at hospital.

Co-processing MSW at Hongshuihe Cement Co

22 March 2017, Published under Cement News

In its first application in China, an FLSmidth HDR63-315 HOTDISC ® combustion device is integrated in the 3800tpd calciner kiln of Hongshuihe Cement to handle municipal solid waste (MSW) with a high moisture content and low calorific value. By Zhou Lun, FLSmidth Beijing Ltd, China. Figure 1: the FLSmidth HOTDISC combustion device To safely and completely dispose of virtually unclassified municipal solid waste (MSW), China Resources Cement subsidiary Hongshuihe Cement Co Ltd bui...

China: order and growth

06 March 2017, Published under Cement News

Following 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: Shanshui Cement defaults on bond

28 February 2017, Published under Cement News

Shandong Shanshui Cement Group has defaulted on a CNY1bn (US$145m) bond, according to China Merchants Bank. With a huge amount of debt due in 2017, China is facing rising default risks as growth moderates and Beijing switches to a tighter monetary policy. Shanshui hasn't been able to raise enough money to fully repay the three-year debt, which was due 27 February, the underwriter said in a statement. Shanshui has already defaulted several times since 2015 due to liquidity strains, rest...

Anhui Conch

27 February 2017, Published under Cement News

China’s economy is expected to stabilise in 2017 as domestic demand improves and infrastructure investment picks up. According to the World Bank, growth of 6.5 per cent is forecast for 2017, following the 6.7 per cent seen in 2016 – the lowest reading in three decades but still within the government’s target range. Cement producers, such as Anhui Conch, can take comfort from the plethora of infrastructure projects announced for 2017 including the new, CNY170bn (US$24.7bn) road network bet...