Cement News tagged under: China

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West China acquisition of Fuping Cement positive – Moody’s

10 May 2012, Published under Cement News

Moody's commented that West China Cement's (WCC) acquisition of Fuping Cement is credit positive for WCC (Ba3, negative). Fuping Cement owns a 2Mt cement production plant in Zhuangli town in Shaanxiand a 35% interest in Shifeng Cement which has a 2Mt plant in Caocun town, also in Shaanxi. WCC is also still completing the acquisition of a 65% interest in ShifengCement, which began in March 2012. Moody's said the issuance of HK$620m worth of new shares to acquire capacity will enhance its...

CRH to begin conciliatory talks, plans to increase China stake

10 May 2012, Published under Cement News

Irish Cement, a subsidiary of CRH, will begin talks today with representatives of 100 workers who have been on strike for almost five weeks, the Irish Times reports. Staff at Irish Cement plants in Castlemungret, Co Limerick, and Platin, Co Meath, have been on strike now for almost a month over payments worth €5500-€9500 to each worker. The staff and their trade union, Siptu, say a Labour Court ruling obliges the company to pay them the cash. However, Irish Cement says the payments are tie...

Jiangxi Wannianqing gets private placement approval

10 May 2012, Published under Cement News

Jiangxi Wannianqing Cement Co Ltd, a Jiangxi Province-based producer of cement and clinker, announced on May 7th that it was approved by China Securities Regulatory Commission to issue no more than 65 million shares at no less than CNY10.56 a share via a private placement.

Huaxin Cement to issue CNY2bn bonds, China

09 May 2012, Published under Cement News

China's Huaxin Cement Co is planning to sell CNY2bn (US$317m) of bonds to fund the expansion of its business, a source familiar with the deal said Wednesday. The source said the bonds, which have maturities of five and seven years, will be sold through the Shanghai Stock Exchange next week. Citic Securities Co. will be the lead underwriter of the deal, said the person. (Dow Jones International News)

China Resources Cement prices weaken in1Q2012

07 May 2012, Published under Cement News

China Resources Cement Holdings Ltd, the largest cement producer in South China, saw its average sales price decline 6% or RMB20/t Y-on-Y to RMB340/t in the first quarter of this year, noted Deputy Chairman Yu Zhongliang. Yu noted that the firm's gross margin narrowed to 20% during the low season. But he believes the company gross margin would reach 30% this year, as sales prices began to rebound at the beginning of April. Sales volume surged 33% from a year earlier in the first quarter ...

Italcementi to become strategic partner of West China Cement

04 May 2012, Published under Cement News

Italian cement maker Italcementi said it has agreed to acquire a stake in West China Cement (WCC) as the group moves to strengthen its position in the world's largest building materials market. In a statement Italcementi said that when the deal is complete it will own a stake of around 6.25% in WCC to become the company's third-largest shareholder. Under the agreement Italcementi will sell to WCC Shaanxi Fuping Cement Company, which also owns 35% of Shifeng Cement, against the subscript...

China looks to embrace sustainability

04 May 2012, Published under Cement News

When Li Juan took a look at European quarries last year, she was amazed by what she saw. Li, who has been a researcher at the China Building Materials Academy for more than a decade, describes her tour of the quarries as an eye-opener. Rather than growing back grass and trees, European cement producers rehabilitate their quarries down to the last detail, including bringing back the kinds of birds and insects that used to live there, Li says. The study tour was Li's first visit on biod...

China: cracks begin to appear

04 May 2012, Published under Cement News

With a downturn looming, major cement companies in China are using various strategies to weather the tough times, such as consolidation and a push for greener technologies. Today, cement production capacity per capita in southwest China is one of the highest in the world. Overcapacity in cement production, because of China's sizzling economy and its heavy investments in infrastructure, has spread across the country at a time when the economy has shown strong signals of cooling down. Lei...

China first-quarter output rises 7.3%, prices fall

27 April 2012, Published under Cement News

According to the latest statistics released by China’s National Development and Reform Commission China cement output grew only 7.3% YoY in the first three months of this year slowing from an 18.1% increase in the same period of 2011. The price of cement continued to fall in March. The average ex-factory price at major cement enterprises dropped CNY18.2/t from February or CNY9/t from a year earlier to CNY363.4/t. At the end of last month, the cement inventory of these major cement enterpr...

China Huaxin Cement changes investment plant

25 April 2012, Published under Cement News

Huaxin Cement said it will terminate plans to invest in 10 concrete projects and will use CNY172.56m of the uninvested funds on seven new projects, reports Yicai, citing a company filing yesterday. According to the announcement, the amount spent on the 10 projects totalled CNY9.91m. The land-use rights it already bought will be transferred, while the equipment purchased will be used for the new concrete projects. Huaxin Cement intends to fully acquire five concrete producers, including Ji...