Cement News tagged under: China
CRH full-year development spend07 January 2014, Published under Cement NewsCRH announced a total of seven acquisitions and investment initiatives in the second half of 2013, taking full-year development activity to EUR0.69bn. The company invested EUR0.22bn in the six months to the end of December last year, including one transaction in Asia, three under its American Materials division and a further three in its Distribution segment. Commenting on the these developments, CRH’s new chief executive Albert Manifold said: “Development spend of almost EUR0.7bn in 2013... |
TCC retains top six slot in China07 January 2014, Published under Cement NewsTaiwan Cement Corp (TCC), one of Taiwan's top cement manufacturers, has retained its position as China’s sixth largest cement producer by capacity. Last year, Taiwan Cement had production capacity of 55.27Mt in China, up 2.06 per cent from a year earlier when it also ranked sixth, according to statistics released by China Cement Net on Friday. The company was the third largest supplier in southern China with capacity of 21.08Mt, trailing only China Resources (Holdings) Co and Anhui Conch ... |
Fujian Cement raises CNY87.8m from disposal of Industrial Bank shares03 January 2014, Published under Cement NewsFujian Cement Inc has sold a combined 12m shares in Industrial Bank Co Ltd at CNY10/share between 30-31 December 2013, the company announced in a statement. The Fujian Province-based cement manufacturer will earn CNY87.82m (US$14.5m) in investment income from the deal. Fujian Cement continues to hold 50.4 million shares in the Industrial Bank. |
AVIC completes takeover offer for KHD30 December 2013, Published under Cement NewsAVIC International Beijing Company announced on Friday the successful completion of a voluntary public takeover offer for shares in German equipment supplier KHD Humboldt Wedag. The takeover offer was conducted jointly by an indirectly wholly-owned subsidiary of AVIC International Beijing Company Ltd and three other bidders. AVIC International Beijing said it bought a 40.465 per cent stake in KHD via a voluntary public takeover offer and acquired an additional 19.03 per cent from indi... |
China Resources Cement vice chairman of the board resigns24 December 2013, Published under Cement NewsYu Zhongliang has resigned from his position as vice chairman of the board, executive director and member of the executive committee of China Resources Cement (CRC), effective 1 January 2014. A statement released yesterday by CRC’s board directors said Mr Zhongliang has decided to step down “due to his pursuit of other work allocation by the China Resources Group.” |
China: new Guangdong carbon market sees lively trade20 December 2013, Published under Cement NewsThe largest carbon market in China began yesterday with cement firms eager to take part in early deals. Anhui Hailuo bought 20,000 carbon permits from the new energy arm of power producer Huadian Energy Co. Debut trading on the China Emissions Exchange in Guangzhou went through in line with market expectations at CNY61 (US$10.04). Early trade on the Guangzhou market surpassed full-day totals during the launches of the country’s three other carbon exchanges. There were a total of 120,000 p... |
KHD recommends shareholders accept AVIC offer06 December 2013, Published under Cement NewsThe management and supervisory board of KHD Humboldt Wedag International have recommended company shareholders accept a takeover bid from AVIC International at the offer price of EUR6.45/share. The offer price corresponds to a premium of 34.9 per cent on the average closing price of the KHD share over the three-month period prior to announcement of the offer on October 10, 2013. KMPG, who was engaged by KHD’s management board, as well as Network Corporate Finance, a consulting company com... |
China's changing dynamics06 December 2013, Published under Cement NewsThe dynamics between small and large players in the Chinese cement industry could all change next year on the back of a number of new policies led by a change in tax rebate policies and more stringent environmental regulation, a new report by BNP Paribas has stated. Going forward, larger producers who can meet the higher environmental standards are sent to benefit from the changes. Changes to tax policy A change to a tax rebate policy, currently enjoyed by producers of low-quality ceme... |
Sichuan Shuangma to acquire stake in Dujiangyan Lafarge03 December 2013, Published under Cement NewsSichuan Shuangma Cement Co says it plans to acquire a 25 per cent stake in Dujiangyan Lafarge Cement from Lafarge China Offshore Holding Company for about CNY832m (US$136.5m). Sichuan Shuangma has said the acquisition will be via shares issuance of about 147.58m shares at CNY5.64/share. |
Guangdong to launch carbon permits market29 November 2013, Published under Cement NewsGuangdong, a heavily industrialised province in China, plans to launch a carbon emission trading scheme next month, which will be the world's second largest after the EU. The scheme to be launched in Guangdong, China's most populous province, will cap CO2 emissions from 202 companies at 350Mt for this year, the provincial Development and Reform Commission said on its website. At total of 97 percent of the permits will be handed out free on December 10, but the local government will also... |