Cement News tagged under: China

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Investments in China cement sector drops

27 February 2012, Published under Cement News

Investment in China’s cement sector declined 8.3 per cent YoY to CNY143.9bn (US$22.85) in 2011, the country’s Ministry of Industry and Information Technology (MIIT) reported. The decline was the first drop in five years amid the government’s policies to curb overcapacity, MIIT said in a statement on its website. The figure was 40.2 percentage points lower than the average level of the building materials industry, the MIIT added. Investments in the eastern region fell 13.5 per cent Y...

CNBM sees 2011 annual net profit doubling, China

27 February 2012, Published under Cement News

China National Building Materials said it expects 2011 annual net profit to double on increased prices and higher cement sales and, according to some analysts, the company should now reap the benefits of its aggressive expansion plan over the last two years. CNBM said in a filing to the Hong Kong Stock Exchange that audited net profit for last year may increase by more than 100 per cent compared to 2010. In a statement, the company said: “In the year of 2011, driven by continuous i...

Fujian joint-venture announced, China

24 February 2012, Published under Cement News

Chinese cement producer, Fujian Cement plans to set up a joint venture, Fujian Jianfu Southern Cement, with its second-largest shareholder, Southern Cement to consolidate the cement industry in Fujian, a southeast province in China. Both companies will conduct mergers, acquisitions and expand production capacity, reports China Securities Journal, citing a company filing. Each company will hold a 50 per cent interest in the joint-venture will engage in cement-related activities under the ‘...

Macquarie keeps China demand growth at six per cent

16 February 2012, Published under Cement News

Macquarie has kept its six per cent demand growth forecast for China's cement industry but has reduced its net supply growth forecast from four per cent to 1.4 per cent. "We remain positive on a 12-month view, given limited supply and compelling valuations even on our lower-than-consensus earnings forecasts." The house says that sector names have risen 10-40 per cent year-to-date as investors add beta, factoring in a policy-driven recovery in construction.  "We would look for buying...

Jidong Cement to buy controlling holder's assets, China

16 February 2012, Published under Cement News

Tangshan Jidong Cement announced it would buy the use right of part of land, ownership of houses and supporting facilities rented by it currently from its controlling shareholder Jidong Development Group, reports SinoCast. The listed company also will buy the ownership of an office building, Beijing Representative Office and Jidong Development Students Apartment and supporting facitlies, covering about 50,000 square meters. To further enhance the market competitiveness of its controlling s...

Shanghai Allied Cement joint venture, China

16 February 2012, Published under Cement News

Allied Cement said Shanghai Allied Cement (SAC) agreed to set up a 50-50 joint venture with Shanghai Building Material (Group) General Company aiming at commencing construction of the Bailonggang Project in Shanghai by the end of 2012. The total investment of the joint venture CNY1.98bn and registered capital joint venture will be CNY800m. Shanghai Building Material and Shanghai SAC agreed to establish the JV to operate and manage the Bailonggang Project, involving the development of new ...

Deutsche Bank revises China outlook

10 February 2012, Published under Cement News

Following discussions with the China Cement Association, Deutsche Bank now expect capacity growth of 7.5% and 3.4% in 2012 and 2013 versus its previous expectations of 4.1% and 2.2%. Deutsche forecast national demand to grow 3.3% in 2012 compared to its previous forecast of 4.1%. This could prove conservative if property stabilizes and the economy recovers in 2H12, the bank notes. Nevertheless, it expects 2012 to be the year when supply pressure on producers is the greatest over the past ...

China United Cement seeks acquisition loan

08 February 2012, Published under Cement News

State-owned China United Cement Group Corp is seeking a CNY798m three-year loan for the acquisition of Daewoo Cement (Shandong) Co Ltd, a subsidiary of Daewoo International Corp, banking sources said. Bloomberg reports that several banks, including Chinese and foreign, are looking at the deal that is said to offer a margin of 110 per cent of the People’s Bank of China rate, Reuters reports.

China considers tougher emission rules for cement producers

02 February 2012, Published under Cement News

China's environment ministry is considering launching stricter rules regarding NOx emissions from cement plants, which, if implemented, could sharply affect the net profits of local producers. Chinese Vice Minister of Environment Protection, Zhang Lihjun, last month said during a visit to Anhui Conch, that he ministry plans to introduce stricter rules, the Shanghai-based daily reported. China had previously said it plans to cut the cement industry’s NOx emissions by 10 per cent by 201...

Tianshan Cement to issue new shares, China

02 February 2012, Published under Cement News

Xinjian Tianshan Cement, based in Northwestern China’s Xinjiang Uygur Autonomous Region, announced that 100 million of its new shares will be tradable on 3 February, China Business Newswire reports. The company said on 11 January that it would issue no more than 120 million new shares to raise up to CNY2.8bn. After the issuance the company has 488 million shares.