Cement News tagged under: China
Taiwan Cement Corp hopes for improved 2H1614 April 2016, Published under Cement NewsTaiwan Cement Corp, the nations biggest cement maker, yesterday said that business has remained weak since last year, adding that it hopes to see a pick-up in 2H16. "Our business in the first quarter of this year remained under pressure due to a pessimistic sentiment that has continued from last year," Leslie Koo, Taiwan Cement chairman, said at an investors conference in Taipei. In the final quarter of last year, Taiwan Cement reported net income of TWD1.78bn (US$55.02m), down 31.3 per... |
CNBM to issue CNY1.5bn 365-day bills08 April 2016, Published under Cement NewsChina National Building Material Co Ltd (CNBM) has announced that it will issue CNY1.50bn(US$232m) unsecured super-short-term bills with a maturity of 365 days on the interbank market on 11 April. The corporation said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value date and payment due date is set on 12 April, and the to-be-issued bills tradable on 13 April. China Lianhe Credit Rating Co Ltd has ... |
The BRICs come under pressure08 April 2016, Published under Cement NewsWhile the cement world has been concentrating on the slowdown in China and the large-scale mergers in India's cement sector, there has been little notice to the plight of other BRIC countries that are underperforming and are not attracting the investment that had previously put them at the top of the growth chart. The Economist Intelligence Unit this week observed that: "It has been clear for some time that the BRICs has had its day. While China and India have largely lived up to the grou... |
Anhui Conch still outperforming rivals, claims Fitch01 April 2016, Published under Cement NewsFitch Ratings claims that Anhui Conch Cement Company Ltd has maintained its financial strength and improved its market share in 2015, despite seeing a sharp decline in its domestic Chinese cement market. Sales volume in China's cement industry fell 4.9 per cent and average selling prices (ASPs) decreased 15 per cent in 2015, driven by the weakness in fixed-asset investments and industry oversupply. Conch has outperformed its peers by increasing its sales volume by three per cent, although ... |
China: Anhui Conch suffers 32% profit fall in 201524 March 2016, Published under Cement NewsChina's largest cement maker, Anhui Conch, reported a 32 per cent fall in 2015 net profit on Wednesday, marking its first profit fall in three years as a slowing Chinese economy was reflected in a contracting construction market and reduced cement demand. Anhui Conch also warned that the cement industry's oversupply situation could worsen this year as growth in China's fixed investments was slowing on the back of the weaker economy, reported Reuters. "Market competition in the first half... |
BBMG sees net profit slip 16.7%24 March 2016, Published under Cement NewsBBMG Corp reported a fall in net profit for 2015. Its net income fell 16.7 per cent to CNY2.02bn (US$310m), declining for a second straight year. The cement and building materials supplier aims to bring in revenues of CNY41bn in 2016, roughly level with last year's CNY40.9bn, it said in a filing to the Shanghai stock exchange. |
Fitch: West China Cement's weaker operating results outweighed by Anhui Conch's takeover18 March 2016, Published under Cement NewsFitch Ratings believes West China Cement Ltd's weaker operations – as reflected in the 2015 results – is outweighed by its pending takeover by Anhui Conch Cement Company Limited (Conch, A-/Stable). Fitch's Rating Watch Positive on WCC is driven by the potential further integration between Conch and WCC, which will be resolved once the transaction is completed. WCC's performance in 2015 was a reflection of the weak cement market throughout the year. Its EBITDA margin narrowed to 26.6 per c... |
CRC attributable profit drops 76% YoY15 March 2016, Published under Cement NewsChina Resources Cement (CRC) said its profit attributable to owners for the year ended 31 December 2015 dropped 75.9 per cent YoY to HKD1015m (US$130.8m). Turnover was HKD26,779m, a decrease of 18 per cent from a year earlier. The consolidated gross margin was 24 per cent, representing a decrease of 7.3 percentage points from 31.3 per cent for 2014. The average selling price of cement last year was HKD269.9/t, down 20.2 per cent over 2014. The company noted that during 2015, demand for ... |
S&P: West China Cement stays on CreditWatch Positive01 March 2016, Published under Cement NewsStandard & Poor's (S&P) Ratings Services said that it continues to keep the ratings on West China Cement on CreditWatch with positive implications while the company awaits regulatory approval to: (1) issue new shares to Anhui Conch Cement Co, and (2) acquire the latter's cement assets. "We are still awaiting details of the transaction. We also need to further clarify with both management teams regarding WCC's capital management, growth strategy, board composition, and any change to WCC's e... |
China Tianrui Group Cement expects 30% drop in 2015 profit18 February 2016, Published under Cement NewsChinese cement manufacturer China Tianrui Group Cement Co said Thursday it expects its 2015 net profit to drop more than 30 per cent from a year earlier. The decline is attributed to weaker domestic cement demand and lower selling prices. The company, which didn't specify its expected net profit for the year, posted a net profit of CNY564.9m (US$86.6m) in 2014. The 2015 financial results will be released by the end of March, the company said. |