Cement News tagged under: China
Asia Cement forecasts higher 1H net profit12 July 2013, Published under Cement NewsAsia Cement (China) expects its unaudited net profit to more than double for the six months to the end of June 2013 compared to the same period of last year. The 100 per cent forecasted increase in first half net profit was primarily attributable to the increase in sales and a decrease in coal costs compared to 1H12, the company said. Asia Cement's interim results are expected to be published at the end of August. |
TCC International expects profits to double in 1H1310 July 2013, Published under Cement NewsTCC International expects to double net profit attributable to shareholders in the first half of this year compared to the same period of 2012. The increase is mainly attributed to the group’s improved operations in southwest China and a corresponding rise in its profit contribution during the period, ET Net News reports. The advanced profits are due to a increase sales and a significant improvement in gross profit margins. |
China: concentration is the key02 July 2013, Published under Cement NewsChina Cement Association had drafted a plan to promote mergers and acquisitions (M&A) activity and step up the elimination of obsolete capacity to increase concentration of the domestic production base. According to the strategy entitled ‘Implementation Plan for Accelerating M&A in Cement Industry’, the number of cement enterprises in the country will witness a significant drop during the 12th Five-Year Plan period (2011-15) from the 2010 level, with no more than 1000 cement clinker units a... |
UBS cuts China Resources Cement target price17 June 2013, Published under Cement NewsInvestment bank UBS has trimmed its target price for China Resources Cement (CRC) to HKD4.85 from HKD5.5. The company's stock, however, has been upgraded from ‘neutral’ to ‘buy’. It noted that CRC's share price has already pulled back by about 30 per cent from its first quarter peak level, and believes the negatives in the macro environment and the local cement market have already been largely factored in, ET Net News reported. CRC has been steadily climbing up the ranks of Chinese cement ... |
Lafarge to continue investing in China06 June 2013, Published under Cement NewsLafarge said it will continue investing in China in research, namely in research, production and the creation of new partnerships, according to the company’s chief. Bruno Lafont, chairman and chief executive of the French cement major told the People’s Daily China that the company will invest using a “value-growth” model. It will prioritise its existing position in southwest China, although it may expand to other parts of the country, he added. On China’s overcapacity issues, Lafont s... |
JPMorgan sells 2.65m shares in Conch Cement06 June 2013, Published under Cement NewsJPMorgan Chase & Co sold 2.65 million shares in Anhui Conch Cement Co Ltd for a total of HKD70.2m (US$9m), according to the Hong Kong Stock Exchange. After the sales, JPMorgan still holds 218.54 million shares (a 16.82 per cent stake) in the Hong Kong-listed cement producer, China Business Newswire reports. The sale was completed on 29 May 2013. |
China cement and clinker exports rise 31.5%05 June 2013, Published under Cement NewsChina has reported a 31.5 per cent YoY increase in cement and clinker export volumes for the first four months of 2013, according to the Ministry of Industry and Information Technology. The value of exports was US$230m, a rise of 21.1 per cent on the year before. Last year, total Chinese exports increased to 11.5Mt (6.2Mt of cement, 5.3Mt of clinker) and this year total exports are expected to rise to 12Mt. |
Xinjiang Tianshan Cement Co to issue CNY500m notes31 May 2013, Published under Cement NewsXinjiang Tianshan Cement Co, based in China's Xinjiang Uygur Autonomous Region said on Thursday that it would float CNY500m (US$4m) in unsecured notes with a maturity of three years on June 6, 2013. According to the company, it would use CNY250m of the proceeds to boost working capital and the remaining CNY250m to repay bank loans. By the end of September 2012, the company's undue bank loans stood at CNY1.442bn. Xinjiang Tianshan Cement said that the notes will be issued at face value, a... |
China to tighten NOx limits for cement industry27 May 2013, Published under Cement NewsChina's Minister of Environmental Protection is expected to issue a new tougher national standard on NOx emissions following public calls to reduce both emissions and excess production capacity, the China Securities Journal has reported. The drafted new standard is expected to be issued on 1 July 2013 an will sharply cut NOX limits to below 450mg/m3 of cement produced from an average of 880mg currently. For newly-built cement factories, the limit is expected to be capped at 320mg. T... |
Najran Cement awards new line to Chinese contractor, Saudi Arabia15 May 2013, Published under Cement NewsSaudi cement producer Najran Cement has awarded a contract for the installation and maintenance of a third production line to Chinese firm CEIC. The new production line will have a capacity of 7000tpd and is expected to begin trial operations in 3Q13, the company said in a bourse filing. Najran Cement operates a cement plant situated in Sultana which has two clinker lines of 6000tpd and 3000tpd each. |