Cement News tagged under: China
TCC warns on full-year net loss08 January 2016, Published under Cement NewsTCC International Holdings Ltd said it expects to swing to a net loss for 2015 from a net profit of HKD2.05bn (US$264.5m) in the previous year. The cement producer said the expected loss was due to a 26 per cent decline in the average selling price of its cement products and a weakening Chinese yuan against the US dollar during the year. The company said it will publish its full-year results in March. (Source: Dow Jones Newswires) |
China Shanshui Cement regains control of Shandong Shanshui Cement04 January 2016, Published under Cement NewsChina Shanshui Cement Group Ltd said Monday it has regained control of Shandong Shanshui Cement Group Co, but three former directors of Shandong Shanshui and a group of people continue to 'illegally occupy' the unit's head office and five factories. China Shanshui did not specify why Zhang Caikui, Zhang Bin and Huang Kehua have occupied the premises of Shandong Shanshui but said they have illegally retained important company documents. (Source: Dow Jones News Wires) |
Shansui Cement management in turmoil30 December 2015, Published under Cement NewsChina Shanshui Cement Group, which last month defaulted on a CNY2bn bond and saw its entire board ousted early this month, says it has reported the loss of key documents, data and company stamps to Hong Kong Policy as management of the company was plunged into further turmoil. Meanwhile its Shandong unit warned it may default on another CNY1.8bn (US$277m) bond due to mature on January 21. The development suggested that the seven-month battle for control over the company has escalated as th... |
CRH meets with Sinoma Group24 December 2015, Published under Cement NewsJohn Watkins, country director China of CRH met with Peng Jianxin, president of Sinoma Ltd, on 18 November 2015. During the meeting both sides exchanged views on the current situation of China's regional cement industry, the prospects for the international market in the building materials industry and the further strengthening of cooperation between the two sides, Sinoma stated on its website. |
Anhui Conch23 December 2015, Published under Cement NewsWest China Cement (WCC) has become the sixth Chinese company to join the Cement Sustainability Initiative (CSI). Following a recent transaction, in which Anhui Conch Cement is to double its stake in the company to 51.57 per cent, WCC is set to become a subsidiary of Anhui Conch Cement and see its production capacity boosted to around 40Mta. “West China Cement is delighted to join the CSI and take the initiative to promote the goals of sustainable industry development, resource efficiency,... |
China National Building Materials (CNBM)23 December 2015, Published under Cement NewsCement demand in China usually peaks in the months of September and October but not so in 2015 as numerous infrastructure projects suffered from ongoing delays. China’s cement producers are now hoping that 2016 will bring renewed activity in the country’s construction sector, driving up consumption. Just last week the Chinese president signed an agreement with the UAE to develop a US$10bn joint investment fund to forge closer links between the two countries. The UAE is reportedly seen as ... |
Nepal approves Chinese US$140m cement plant21 December 2015, Published under Cement NewsNepal has endorsed a foreign direct investment (FDI) proposal by China’s Huaxin Cement Co to establish a cement plant in Nepal. The US$140m cement works project is in partnership with Narayan Cement Co. In July, the country also approved a US$360m FDI proposal by China’s Hongshi Holdings Ltd to build a domestic cement works in partnership with Nepal’s Shivam Cement. |
New Kazakhstan cement plant agreement signed15 December 2015, Published under Cement NewsHuaxin Cement Co of China has signed an agreement to invest US$150m in the construction of a 1Mta cement plant in the Aktobe region of Kazakhstan. The deal was signed by Berdybek Saparbayev, governor of the Aktobe region, and Xu Yongmo, chairman of the board of Huaxin Cement. The agreement was concluded during Kazakh Prime Minister Karim Massimov's official visit to China. Construction of the facility is expected to begin in mid-2016. The new plant will produce various cement types, incl... |
Government investigates excessive capacity in northeast China15 December 2015, Published under Cement NewsChina's Vice Minister of Industry and Information Technology, Xin Guobin, recently led a delegation to investigate excessive cement capacity in northeast China. Xin urged local governments, industry associations and key enterprises to work together, further reduce excessive capacity, and try to reverse losses in the cement industry in the region. Cement companies with a presence in the northeast include Yatai Cement, Liaoning Daying Cement Group, Inner Mongolia Mengxi Cement Co, Ltd, Sunn... |
Shanshui Cement says change of Shandong subsidiary's board was legal11 December 2015, Published under Cement NewsShanshui Cement on Thursday night issued a statement saying that its change of the board and management of its subsidiary, Shandong Shanshui Cement Group, was "legally valid and [does] not violate the relevant laws and regulation of the PRC", based on legal advice from its Chinese lawyers. The statement was in response to allegations made by the Shandong subsidiary, which issued a statement on 4 December that Shanshui Cement's removal of management and directors from Shandong Shanshui was... |