Cement News tagged under: China
Magnesita and ACIS announce agreement for global cement greenfield projects02 July 2015, Published under Cement NewsMagnesita Refratários SA, a publicly-traded Brazilian corporation dedicated to mining, production and sales of refractory materials and industrial minerals, announced an agreement with ACIS, a cement maintenance and operations service company based in China and Saudi Arabia. Under the agreement ACIS will expand its service offering with Magnesita’s refractory products in support of global cement greenfield projects. ACIS and Magnesita will target Chinese cement Original Equipment Manufact... |
China: UBS lowers CRC target price, earnings estimates30 June 2015, Published under Cement NewsUBS Global Research lowered its target price for China Resources Cement (CRC) to HK$4.8 from HK$5.3, and maintained its 'neutral' rating. The research house said CRC has underperformed the Hang Seng China Enterprises Index (HSCEI) by 39ppt over the past six months, which it attributed mainly to stretched fundamentals in its key market of southern China. Year-to-date, the average selling price (ASP) of cement in Guangdong and Guangxi provinces has dropped 23.9 per cent in 2015 to CNY295/t (... |
Fitch puts China Shanshui Cement ratings on Negative Watch26 June 2015, Published under Cement NewsFitch Ratings has affirmed China Shanshui Cement Group Limited's (Shanshui) Long-Term Issuer Default Rating (IDR) and senior unsecured ratings of 'B+'. The agency has also put the rating on Negative Watch to reflect the possibility of Shanshui running into insolvency in the event that it is forced to redeem the US$500m 7.5 per cent senior notes due 2020 (2020 notes) if its chairman Zhang Bin is removed or the majority of its board members is changed. This follows the announcement on 19 June... |
West China Cement issues Conch International HK$1.53bn worth of shares19 June 2015, Published under Cement NewsWest China Cement said Friday that it will issue HKD1.53bn (US$197.4m) worth of shares to to Conch International Holding, a wholly owned subsidiary of Anhui Conch Cement Company Ltd. The Hong Kong-listed company said it would use the proceeds for future acquisitions and investments. At HK$1.69 a piece, the issued shares are at a 0.59 per cent discount to the stock's last closing price. The total amount of shares represent 20 per cent of the company's issued share capital and 16.67 per cen... |
China: Hubei producers may default on carbon obligations12 June 2015, Published under Cement NewsCement producers participating in the carbon market in China's Hubei province have told the local government they cannot afford the millions of yuan required to buy permits to cover mitigation obligations for 2014 and may default, according to a document seen by Reuters. The 138 companies covered by the Hubei exchange have to hand over carbon permits this month to settle their obligations for last year. Around a quarter are cement firms, who complain they were not allocated enough credits,... |
China Shanshui Cement new loans suspended11 June 2015, Published under Cement NewsChina Shanshui Cement Group Ltd said some banks have halted new loans and suppliers are demanding immediate repayment after a court put one of the cement maker’s main shareholders into receivership, Bloomberg reports. Some joint venture partners have also said they wanted to review their relationship with the company, Shanshui Cement said in a statement Wednesday in Hong Kong. The firm’s finances are likely to be impacted by the actions amid lawsuits against China Shanshui Investment, whic... |
Mechel signs memorandum with Jidong Cement10 June 2015, Published under Cement NewsRussian mining and metals company Mechel ОАО signed a coal supply memorandum with Chinese cement producer Jidong Cement. According to the signed memorandum, Mechel is due to supply 1Mt of steam coal produced at Neryungrinsky and Elga open pits to Jidong Cement between April 2015 and March 2016. The price and exact volume of the supplies will be determined on a monthly basis. The sides also agreed to consider expanding further their cooperation into supplies of metallurgical coals to Jidon... |
Prosperity considers Anhui Chaodong transaction08 June 2015, Published under Cement NewsProsperity Minerals Investment Ltd (PMIL), a wholly-owned by Prosperity International, is contemplating a transaction involving Anhui Chaodong Cement Co Ltd (ACC), a company whose shares are listed on the Shanghai Stock Exchange (SSE) and in which PMIL holds about 18.06 per cent interests. ACC has applied to the SSE for the suspension of dealings in the shares of ACC for five trading days commencing from today, reported ET Net News Ltd. |
EPC contract signed for new Limak cement works, Turkey02 June 2015, Published under Cement NewsChina's Sinoma International Engineering Co signed a contract on Friday with Turkey's Limak Holding to build a US$155m cement factory in the capital Ankara. The factory will have a capacity to produce 5000ptd of cement, Limak officials said during a signing ceremony for the equipment, procurement and construction (EPC) contract. Construction is expected to take 20 months and Sinoma expects to complete it in the first quarter of 2017. |
Chinese firm signs MoU for Masvingo plant, Zimbabwe02 June 2015, Published under Cement NewsMasvingo Rural District Council has signed a Memorandum of Understanding with Xhing Xhong Cement Co of China for the establishment of a new cement plant in Zimbabwe. “I can confirm that we’ve agreed with an investor who wants to establish a cement plant in Chief Charumbira’s area. We’ve signed a Memorandum of Understanding with the investor and it’s now left to them to start the project,” Martin Mubviro, CEO of Masvingo Rural District Council, was quoted by the Chronicle (Zimbabwe) as sayi... |