Cement News tagged under: China
China Tianrui Group Cement profit inches up26 March 2015, Published under Cement NewsChina Tianrui Group Cement Co posted a net profit of CNY565m (US$91m) in the full year ended 31 December 2014, climbing 1.07 per cent from a year earlier. Basic earnings per share were CNY0.24. Income inched up by 3.34 per cent to CNY8.95bn. |
Anhui Conch full-year profit rises 17%24 March 2015, Published under Cement NewsAnhui Conch Cement Co's net profit rose 17 per cent in 2014 but warned that the cement sector in its home market of China was under pressure as the economy slowed. The company reported net profit of CNY11bn (US$1.77bn) in 2014, up from CNY9.4bn in 2013, it said in a filing on the Shanghai stock exchange. Some 23 analysts polled by Thomson Reuters SmartEstimate forecast a net profit of CNY11.5bn. Earning per share were CNY2.07. "Demand in the cement market is facing increasing pressure with... |
China Resources Cement net rises 26% YoY10 March 2015, Published under Cement NewsChina Resources Cement (CRC) announces that it made HKD4.21bn (US$ 542.6m) net profit in 2014, up 26 per cent YoY. Earnings per share were 64.4 HK cents. The company gained HKD 32.67bn in incomes last year, up 11.3 per cent YoY. Gross profits increased 22.3 per cent to HKD10.23bn and gross profit margin rose from 28.5 per cent to 31.3 per cent thanks to price and sales increases. Analysts at Jefferies International said CRC's FY14 earnings were just slightly below consensus estimates, ... |
MacGregor wins multiple offshore self-unloader order from Chinese shipyard06 March 2015, Published under Cement NewsMacGregor, part of Cargotec, has received an order from Wuhu Xinlian Shipyard in China for eight MacGregor dry bulk cement handling systems. The fully-automated pneumatic systems will be installed on two 78m 12,000bhp 150T BP anchor handling, tug, supply and oil recovery vessels and six 79m 4000dwt platform supply vessels. The contract includes system design and the delivery of key components, which will take place between August 2015 and January 2016. "The customer chose MacGre... |
Yanbu Cement Co signs contract for WHR plant05 March 2015, Published under Cement NewsYanbu Cement Company (YCC), one of Saudi Arabia’s leading cement companies and a major player in the western region of the kingdom, has signed a contract for the establishment of a 34MW waste heat recovery (WHR) power plant at its cement plant located north of Yanbu town. Sinoma Energy Conservation Ltd of China will set up the WHR plant at a cost of US$61.8m. The agreement was signed in YCC's head office in Jeddah yesterday. Raouf Abuzinadah, managing director of Yanbu Cement Company,... |
China: Lafarge to buy out 45% interest in Lafarge Shui On Cement03 March 2015, Published under Cement NewsLafarge has signed an agreement to acquire the 45 per cent stake held by SOCAM Development Ltd in Lafarge Shui On Cement, for a consideration of HKD2553m (c€294m) subject to the completion of its merger project with Holcim. With a total cement production capacity of 32Mta in South West China in the provinces of Yunnan, Sichuan, Guizhou and Chongqing, Lafarge Shui On Cement would thus become a wholly-owned subsidiary of LafargeHolcim following completion of the merger project and this purcha... |
Allied Cement issues profit warning, China03 March 2015, Published under Cement NewsChina-based Allied Cement said it expects to record a significant decline in net profit by about 40 per cent for the year ended 31 December 2014 as compared to the audited net profit of around HK$46.2m for the previous financial year. The decline is primarily attributed to the significant increase in finance cost incurred in connection with additional bank and other borrowings drawn by the group in the second half of the year to support business expansion, and the maturity of its investment... |
Anhui Conch Cement Co02 March 2015, Published under Cement NewsAs China’s cement producers brace themselves for a sharp deceleration in demand in 2015, Anhui Conch will be keeping a close eye on its developments in Indonesia. Volumes in China grew by just 2.8 per cent in 2014, compared to 10 per cent in the previous year. Indonesia, however, is expected to see strong growth this year, driven by positive demographic trends and a government commitment to infrastructure development. In Indonesia production has begun at the 1.5Mta PT Conch South Kaliman... |
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... |