Cement News tagged under: China
Sinoma makes Indian acquisition12 April 2013, Published under Cement NewsSinoma International Engineering (Hong Kong) Co Ltd, part of China National Materials Group Corporation Ltd, has acquired a majority stake in India-based cement equipment manufacturer LNV Technology Pvt Ltd. According to the agreement, Sinoma International Engineering has purchased a 68 per cent share in LNV Technology while joint venture partners Mr VC Rao, managing director of the Chennai-based firm and LV Technology Public Co Ltd, hold around a 16 per cent equity share each in the comp... |
Oyak inks second cogeneration deal with Shanghai Triumph Energy Conservation Engineering11 April 2013, Published under Cement NewsShanghai Triumph Energy Conservation Engineering Co, has inked a deal with Oyak Group, Turkey, for a cogeneration project for its Bolu Cimento subsidiary. The deal follows the Aslan Cimento cogeneration project signed by the two companies on March 1. The signing of the two projects not only marks the beginning of Shanghai Triumph-Oyak cooperation, but also boosts China National Building Materials Group Corporation's efforts for further development in the Turkish market. Located in... |
Moody's: West China Cement's medium-term notes issuance is credit positive11 April 2013, Published under Cement NewsMoody's Investors Service says West China Cement's (WCC) issuance of medium-term notes (MTN) totalling CNY800m (US$129m) for three-years at 6.1 per cent is credit positive. The notes were issued on 28 March 2013 through WCC's indirectly wholly owned onshore subsidiary Yaobai Special Cement Group Co Ltd, which owns the vast majority of the group's assets in Mainland China. The proceeds from the MTN issuance will be used to refinance onshore bank loans, expand production facilities and for g... |
Conch Group to issue short-term bills, China03 April 2013, Published under Cement NewsThe Anhui Conch Group said it plans to issue CNY1.5bn (US$241m) in unsecured bills with a maturity of 365 days on the inter-bank market next week. The company said in a statement that this batch of bills will be issued on the 10 April 2013 at face value and the coupon rate determined during the the process of bookbuilding, China Knowledge Press reports. Agricultural Bank of China has been hired as book runner and lead underwriter for the offering and China Construction Bank Co will be ... |
Dongwu Cement's net profit slumps, China02 April 2013, Published under Cement NewsDongwu Cement International Ltd saw its net profit slump 98.81 per cent YoY to CNY1.04m (US$ 167,722) . Operating revenue, meanwhile, dropped 30.8 per cent YoY to CNY321m in 2012, the company said in a statement. Dongwu Cement International Ltd is a cement and clinker producer in Wujiang City, Suzhou Prefecture, which is situated in south Jiangsu Province. It employs NSP technology in the production process and its principal products include ordinary Portland cement strength class 42.5 (PO... |
China output climbs 10.8 per cent YoY28 March 2013, Published under Cement NewsCement production in China reached 237.29Mt in the first two months of 2013, an increase by 10.8 per cent from the same period of last year, according to latest data from the National Development and Reform Commission. The rate of growth over the Jan-Feb 2013 period has accelerated from the 4.8 per cent growth seen during the same period of 2012. However, cement prices have continued to fal with the average ex-factory price from major companies declining by CNY7/t from December and CN... |
MacGregor wins order for cement handling systems in China27 March 2013, Published under Cement NewsMacGregor, part of Cargotec, has secured an order with Shanhaiguan New Shipbuilding Industry in China for advanced bulk-handling systems for a pair of 20,000dwt cement carriers on order for Singapore-based Associated Bulk Carriers (ABC) which is a fully owned subsidiary of dry cargo shipowner Precious Shipping PCL, Thailand. Precious Shipping operates in the small handysize sector of the tramp freight market. The identical sisterships will be equipped with MacGregor cement self-unlo... |
Deutsche Bank: Conch to gain greater pricing power, China27 March 2013, Published under Cement NewsIn light of slowing demand growth and severe overcapacity in East China, the operating landscape has changed in favour of Conch partly through superior production costs and greater pricing power, Deutsche Bank says in a recent note. The bank believes that smaller players are losing market share as they can no longer compete with Conch's superior production costs (10-20 per cent below its peers) and low-priced strategy to clear inventory in the slow season. "Effectively, smaller player... |
Anhui Conch net profit hit by weaker prices, China25 March 2013, Published under Cement NewsAnhui Conch reported a 45.6 per cent in net profit for 2012 due to weaker average selling prices. The company reported net profit of CNY6.31bn (US$1bn) last year as average prices slipped to CNY245/t from CNY308/t a year ago. Operating revenue dropped 6.41 per cent per cent YoY to CNY45.06bn in 2012. The company sold 187Mt of clinker and cement last year, reflecting a growth of 18.33 per cent YoY. Conch added 20.8Mta of clinker production capacity and 28.3Mta of cement production capa... |
Asia Cement (China) net profit falls 70%25 March 2013, Published under Cement NewsAsia Cement (China, a subsidiary of Taiwan-based Asia Cement, has reported a drop in annual net profit and revenue due to declining prices. The company posted net profit of CNY395m (US$63.71m) in 2012, down 70.53 per cent YoY while revenues were down 18.55 per cent from a year earlier, reflecting a fall in prices. Cement production totaled 2.85Mt while cement sales reached 22.71Mt, the company said. The company sold 3.8 Mt of cement in the Nanchang-Jiujiang district of Jiangxi Province... |