Cement News tagged under: China
Capital Group buys a 9.25% stake in Anhui Conch07 May 2014, Published under Cement NewsThe Capital Group Co spent HKD159.21m (US$20.53m) to acquire 5.55m shares in Anhui Conch Cement Co Ltd on 30 April, sources reported, citing the Hong Kong Stock Exchange. After the purchase, the USA investor holds a combined 120.20m shares (a 9.25 per cent stake) in the Anhui province-based Chinese cement producer. |
Myanmar Jidong Cement Co to build 5000tpd plant05 May 2014, Published under Cement NewsMyanmar Jidong Cement Company, a subsidiary of China's Tangshan Jidong, has countered claims that local communities in Hpa-an, Karen state, Myanmar, are opposed to the construction of the company's 5000tpd plant in the area. "We have the backing of the locals," he told the Democratic Voice of Burma news service. "Now, we are applying to the Karen State government. After it agrees, we will send an application to the MIC, and start construction of the factory after we receive permission." ... |
Asia Cement expects rise in shipments following Sichuan acquisition02 May 2014, Published under Cement NewsAsia Cement Corp expects a strong rise in shipments from its Chinese unit during the second quarter of 2014 compared to the same period a year ago, as it is set to benefit from the acquisition of two production lines in Sichuan province. Deliveries are expected to increase to 8Mt this quarter, compared with 5.29Mt a quarter ago, following the recent acquisition by subsidiary Asia Cement (China) of Sichuan Lanfeng Cement Co, the company said. Earlier this week Asia Cement (China) reported a... |
Catic wins waste heat recovery project from Goltas Goller Bolgesi Cimento, Tukey01 May 2014, Published under Cement NewsTurkish cement maker Goltas Goller Bolgesi Cimento Sanayi ve Ticaret said it has contracted Chinese company Catic Beijing Co Ltd to set up a waste heat recovery power plant at a total cost of some US$20m (EUR14m). |
Xinjiang Tianshan floats CNY500m bills in April01 May 2014, Published under Cement NewsXinjiang Tianshan Cement Co Ltd issued CNY500m (US$80m) worth of financial bills on 29 April 2014 with a maturity of 365 days and a coupon rate of 5.97 per cent, according to a recent company announcement. The northwest China-based cement manufacturer intends to spend CNY200m worth of proceeds from the issuance to repay bank loans and use the remaining CNY300m to replenish working capital. |
Chinese sector set for turbulent ride – MS01 May 2014, Published under Cement NewsThe Chinese cement industry is in for a turbulent ride, according to analysts at Morgan Stanley, as falling construction starts and infrastructure investment affect demand. "Slower sales momentum, rise in inventory and tighter credit conditions will drive developers to start destocking, which would undermine new construction starts in 2014 and even into 2015," the investment bank said. Fewer land purchases by developers will also hit funding to local government and therefore infrastructure... |
Cementtech 2014 officially underway, China28 April 2014, Published under Cement NewsThe 2014 China International Cement Industry Exhibition and Conference started proceedings on Sunday 27th April at the Hotel Nikko New Century, Beijing, China, with delegates gathering to discuss industry developments under the theme of 'Market, environment and energy efficiency.' Market, environment and energy efficiency form the central themes of Cementtech 2014 proceedings Technical proceedings officially began with an opening speech by Mr Qiao Longde, conference chairman and... |
Gansu Qilianshan quarterly net loss widens, China25 April 2014, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd saw its net loss widen to CNY84.94m in the first quarter of 2014, compared with a deficit of CNY73.63m in the corresponding period of 2013, according to a statement by the company. The northwest China cement manufacturer attributes the decline to growing operational costs in the first three months of the year. |
Guangdong Tapai to expand capacity, China23 April 2014, Published under Cement NewsGuangdong Tapai Group Co, Ltd plans to invest about CNY3.56bn in building a new 10,000tpd dry-process line, including a 20MW pure low-temperature waste heat power generation system, in Jiaoling County, Meizhou City, Guangdong Province. The company posted operating revenue of CNY 883m for the first quarter of 2014, up 12.46 per cent YoY. Net profit attributable to shareholders jumped 224.47 per cent to CNY159m. Basic earnings per share was CNY 0.1782. The cement producer has forecast a ne... |
Henan Tongli plans share issuance, China22 April 2014, Published under Cement NewsHenan Tongli Cement Co Ltd plans to issue 48m shares to China United Cement Group Corp at CNY6.32 per share via a private placement, according to company announcement yesterday. The central China-based producer intends to spend CNY303m worth of proceeds from the issuance to repay bank loans and replenish working capital. The placement is pending approval by the China Securities Regulatory Commission. |