Cement News tagged under: China

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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...

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.