Cement News tagged under: China
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. |
Guangdong Tapai Group Co net profit jumps on higher prices22 April 2014, Published under Cement NewsGuangdong Tapai Group Co Ltd saw net profit reach CNY159m (US$25.5m) in the first three months of the year, rising 224 per cent YoY, the south China-based cement producer said on Monday. Operating revenue rose 12 per cent YoY to CNY880m. The company attributes the profit jump to a 23.22 per cent increase in the average selling prices over the first quarter of 2014. |
Asia Cement (China) reaches Sichuan purchase deal18 April 2014, Published under Cement NewsAsia Cement (China) Holdings Corp, the Chinese unit of Taiwans second-biggest cement maker, has reached a share purchase deal with Sichuan Lanfeng Cement Co. In a filing with the Hong Kong Stock Exchange, Asia Cement (China) said it had acquired 100 per cent of the equity interest in Sichuan Lanfeng for CNY2.005bn (US$322.25m) through its wholly-owned subsidiary Sichuan Yadong Cement Co.Upon the completion of the acquisition, Sichuan Lanfeng will become a wholly owned subsidiary of Sichuan... |
China Resources Cement sees strong growth in attributable profit15 April 2014, Published under Cement NewsChina Resources Cement (CRC) has said it expects profit attributable to shareholders for the quarter ending 31 March 2014 to be significantly higher compared to the corresponding period of 2013. The improvement is mainly attributed to higher average selling prices (ASP) of cement and clinker as well as reduced coal costs compared to 1Q13. The company’s quarterly results announcement will be issued at the end of April. Macquarie Research has slightly lifted its target price for the compa... |
West China Cement repurchases 2m shares09 April 2014, Published under Cement NewsWest China Cement Ltd bought back 2m shares for HK$1.9m on 8 April 2014, media reported, citing Hong Kong Stock Exchange documents. Between 1 January and 8 April, the Xi'an City-based cement manufacturer repurchased a total of 2m shares, occupying an 0.04 per cent stake. |
Asia Cement unit plans to buy Sichuan cement plant, China04 April 2014, Published under Cement NewsAsia Cement (China) said its non-wholly-owned subsidiary Sichuan Yadong Cement entered into a framework agreement with the existing shareholders of Sichuan Lanfeng Cement to acquire their entire equity interest in Sichuan Lanfeng and thus indirectly the entire equity interest in Sichuan Lanfeng's wholly owned subsidiary, Sichuan Lanfeng Building Materials. The target companies principally engage in the business of manufacture and sale of cement, concrete and related products in Sichuan. ... |
Groundbreaking ceremony for new Tajikistan-China joint venture plant04 April 2014, Published under Cement NewsTajik President Emomali Rahmon attended a groundbreaking ceremony for construction of a greenfield cement plant in Gayur-Sughdcement, in the Bobojonghafourov district, Sughd province. According to the Tajik president’s official website, Tajikistan’s Gayur Ltd Liability Company will build the 1.2Mta cement works in partnership with China’s Huaxin Cement Co. The plant is scheduled for completion in 2016. Another Tajikistan-China joint venture, Huaxin Gayur Cement Co, launched production ... |
Taiwan Cement sees 28.81% jump in net profit01 April 2014, Published under Cement NewsTaiwan Cement posted a record TWD10.03bn (US$330m) in net profit last year, up 28.81 per cent from a year earlier, the company said in a statement on Monday. Consolidated sales for 2013 rose 2.11 per cent YoY to about NT$116.10bn, while its gross margin rose about four percentage points from a year earlier to 19.66 per cent. The company's strong sales in China were reflected in the 2013 results of subsidiary TCC International Holdings Ltd, which posted a 14.7 per cent annual increase in ... |
China Shanshui seeks to refinance debt and trim 2014 capex28 March 2014, Published under Cement NewsChina Shanshui Cement is seeking to refinance debt and cut capital expenditure by half this year after earnings fell for a second year, according to CreditSights Inc. The cement maker, which had CNY6.9bn (US$1.1bn) of short-term debt including loans and corporate bonds at the end of last year, plans to use proceeds from a newly issued domestic medium-term note to repay CNY900m due today. Management is still considering how to refinance a CNY1.5bn bond which matures in July. Shanshui Ce... |
CNBM27 March 2014, Published under Cement NewsCNBM will be welcoming China’s new 2014-20 Urbanisation Plan, announced last week. According to Reuters, the plan aims to boost domestic consumption by increasing the proportion of urban residents to 60 per cent by 2020. To help achieve this, the Chinese government has revealed plans to invest more than US$163bn redeveloping the country’s shantytowns. It has also promised a major expansion of its transport networks and urban infrastructure to increase migration from rural to urban areas,... |