Cement News tagged under: China

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Anhui Conch to issue corporate bonds, China

06 July 2012, Published under Cement News

Anhui Conch Cement said on Wednesday that its board of directors has approved its plan to issue up to CNY6bn worth of corporate bonds with a maturity of no more than 10 years. Proceeds from the issuance will be used to replenish working capital and adjust debt structure. (Source: China Business Newswire).

Brazil competition authority approves Camargo purchase of Cimpor

05 July 2012, Published under Cement News

Brazil’s competition authority CADE has approved Camargo Correa’s purchase of a controlling stake in Portuguese cement producer Cimpor, subject to several conditions. The main condition set by the regulator is that Votorantim, Camargo’s competitor on the Brazilian market, sells its stake in Cimpor. Votorantim and Camargo Correa both bought shares in Cimpor in 2010. Through their shareholdings in Cimpor, both Camargo Correa and Votorantim increased their share of Brazil's market. Cade als...

China Tianrui sees 1H net profit down 30%

05 July 2012, Published under Cement News

China Tianrui Group Cement said it expects net profit to be down around 30 per cent for the first half of 2012 compared to the same period of last year. The company said that since the second quarter of 2012, there has been a rebound in market demand for cement products in Central China and Liaoning province and the sales volume and selling prices of cement products of the company has generally increased and remained relatively stable as compared to the prior quarter, but were still lower...

Sichuan Shuangma Cement in private placement, China

04 July 2012, Published under Cement News

Sichuan Shuangma Cement Co Ltd, a Shenzhen-listed producer and distributor of cement, said on 2 July 2012 that it plans to issue no more than 121 million shares to 10 designated investors at CNY7.42 a share to raise up to CNY903m. The funds raised from the issuance will be used to acquire a 25 per cent stake in a Dujiangyan, Sichuan-based cement company from Lafarge China Offshore Holding Co Ltd. (Source: China Business Newswire)

Gansu Qilianshan Cement issues profit warning

02 July 2012, Published under Cement News

Gansu Qilianshan Cement Group expected its first-half net profit to fall at least 50 per cent YoY and follows warnings from other industry peers. According to reports in China Knowledge, the company said in a statement filed with the Shanghai Stock Exchange that the sharp decrease in net profit was due to a significant YoY decline in cement price amid weak demand. Anhui Conch has also issued a similar profit warning, expecting a 50 per cent drop in first-half profit. China Resources Ce...

CNBM to inject capital into North Cement, China

29 June 2012, Published under Cement News

China National Building Material (CNBM) said it has entered into a capital contribution agreement with Jingang Group and Shanghai Zhentong with a view to contributing capital to North Cement, according to local press reports. CNBM will contribute about CNY2.81bn into capital of North Cement, with its interest in North Cement increasing to 70% from 55%. Jingang Group will contribute CNY437.5m, with its stake in North Cement reducing to 20% from 45%. Shanghai Zhentong will contribute CNY500m,...

Qilianshan Cement's net profit to drop by 50% in 1H

29 June 2012, Published under Cement News

Gansu Qilianshan Cement Group Co Ltd, a Shanghai-listed cement producer, forecasted on June 27th that its net profit will decrease at least 50% on-year in the first half of 2012.

China Resources Cement's 1H profit likely to fall 21%

27 June 2012, Published under Cement News

China Resources Cement has warned of a sharp drop in gross profit margin in 1H12 to 21 per cent from the 33 per cent last year as selling prices for cement products have fallen. "Starting from 2012, the market selling prices of cement products in China have continued to drop generally. Inevitably, the selling prices of the group's cement products have been impacted," it said in a statement on the Hong Kong stock exchange.

China output growth rate slows

25 June 2012, Published under Cement News

In the first five months of 2012, China’s cement production increased five per cent to 793.98Mt, the National Development and Research Commission (NDRC) said. However, the growth rate represents a sharp decrease of 14.3 percentage points from the same period last year. In May, cement output increased 4.3 per cent YoY, down from 19.2 per cent recorded last year. Between Jan-April, the building material sector saw profits drop seven per cent from a year earlier to CNY81.3bn (US$12.9bn...

Conch acquires stake in Xingjian Qingsong, China

25 June 2012, Published under Cement News

Anhui Conch Cement Co has completed the acquisition of a 19.99 per cent stake in Xinjiang Qingsong Building Materials and Chemicals (Group). The company said in a statement filed with the Shanghai Stock Exchange that, together with an Anhui Province-based subsidiary, it bought 137.8 million shares of Qingsong Building Materials through a private placement. Qingsong Building Materials earlier announced plans to issue up to 262 million shares at CNY13.53 a piece through a private placeme...