Cement News tagged under: China
Dongwu raises US$6.70m in private placement17 February 2015, Published under Cement NewsDongwu Cement International Ltd has completed a private placement of 40m shares at a price of HKD1.30 ($0.16) per share for gross proceeds of HKD52m (US$6.70m). The company has agreed to issue up to 40 million shares at a price of HKD1.30 (US$0.16) per share to raise gross proceeds of HKD52m (US$6.70m) in a private placement. The placing shares represent approximately 7.81 per cent of the existing issued share capital of the company and 7.25 per cent of the issued share capital of the comp... |
MIT unveils project transfer plan, China04 February 2015, Published under Cement NewsChina's Ministry of Industry and Information Technology (MIIT) released a plan to transfer the production capacity of six cement projects under construction in the southwestern Sichuan province. These schemes, designed with 6Mta of cement production capacity, will be publicised on the national production capacity replacement quota platform for future transfer. Meanwhile, a total of 6.036Mta of outdated production capacity by 35 cement producers will be eliminated, according to the MIIT. (S... |
China National Building Material Co Ltd (CNBM)03 February 2015, Published under Cement NewsShanshui Cement, in which CNBM has a 16.67 per cent stake, has been revised from ‘negative’ to ‘stable’ by Fitch Ratings. The revised rating is reportedly due to the company’s steady average selling price of cement in Shandong, the company’s core market. Prices there have remained steady at CNY240.60/t compared to CNY243.70/t in 1H13. CNBM acquired the stake back in October 2014 for HKD1.56bn (US$201m), making it the third-largest shareholder. |
Anhui Conch Cement Co03 February 2015, Published under Cement NewsShares in Anhui Conch Cement soared late last month following the announcement of a restructuring plan. Under the plan, the 51 per cent equity in Conch Holdings currently held by Anhui Investment will be directly transferred to Conch Cement and Conch Profiles, thereby simplifying the organisational structure. The remainder of the asset will reportedly be combined into China Conch Venture through its wholly owned subsidiary. Anhui Conch has also placed an order with Claudius Peters from an... |
South Cement Co to issue 270-day bills03 February 2015, Published under Cement NewsSouth Cement Co, Ltd, a subsidiary of Hong Kong-listed China Building Materials Co, has announced it will issue CNY1.5bn (US$240m) unsecured super short-term bills with a maturity of 270 days on the interbank market today. The company 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 of value date and payment due date is set on 4 February and the to-be-issued tradable on 5 February/ Shanghai Brilliance... |
BBMG Corp issues profit warning, China14 January 2015, Published under Cement NewsChinese cement producer and property developer BBMG Corp said its 2014 net profit is expected to fall by up to 25 per cent from the year earlier, on weaker sales in the property market. The company did not give exact figures for its profit warnings, but said it posted a net profit of CNY3.2bn (US$523m) in 2013. |
Stronger markets in 2015?09 January 2015, Published under Cement NewsWhat does 2015 have in store for the cement sector? After three relatively poor years in terms of global construction expansion, Morgan Stanley (UK) predicts a tentative recovery in world consumption in spite of a significant slowdown in China, according to new analysis published in International Cement Review. Morgan Stanley expects global cement demand, inclusive of China, to rise to 2.8 per cent in 2015, marginally up from the 2.5 per cent growth recorded in 2014, which was the ... |
Fitch Ratings revises China Shanshui Cement Outlook08 January 2015, Published under Cement NewsFitch Ratings has revised China Shanshui Cement Group Ltd's Outlook to Negative from Stable. Meanwhile, Shanshui's Long-Term Issuer Default Rating (IDR) and senior unsecured ratings have been affirmed at 'BB'. The Outlook revision reflects Shanshui's slower-than-expected deleveraging process, mainly driven by weaker cash flow generation due to the lower cement average sell price (ASP). "We expect Shanshui to be able to sustain its financial leverage, measured by FFO adjusted net leverage r... |
South Cement Co to issue 270-day bills06 January 2015, Published under Cement NewsSouth Cement Co has announced that it will issue CNY750m (US$120.7m) unsecured super short-term bills with a maturity of 270 days on the interbank market on 6 January. The company, controlled by state-owned China National Building Material Co, 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 8 January, and the to-be-issued bills tradable on 9 January. Shang... |
China: BBMG acquires 60% stake in Hebei line02 January 2015, Published under Cement NewsBBMG announced that the company held 60 per cent equity of Xingtai Yong Ning Cement through transference at a consideration of CNY245m (US$39.46m). Xingtai Yong Ning Cement owned two 2500tpd dry cement clinker production lines. |