Cement News tagged under: China

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Henan Tongli Cement net profit surges, China

08 March 2012, Published under Cement News

Henan Tongli Cement, a cement producer based in the Henan Province of China, announced a net profit of CNY240.74m (US$38.1m) for 2011 which represents an 87.35 per cent YoY increase. Operating revenue, meanwhile, totaled CNY4.02bn, up 44.6 per cent on the previous year.

Big coolers, big challenges

07 March 2012, Published under Cement News

With an annual cement consumption of about 1.85bnt, China is by far the world´s largest cement market. This has created a demand for high-capacity clinker lines similar to those procured by the Anhui Conch Cement Company in autumn 2009 for its Wuhu and Tongling plants. While two lines have been erected and exceed their 12,000tpd design capacity, the third one is due to start up in April 2012. For the coolers of these new lines, Anhui Conch turned to Germany-based IKN. Dr Daniel Strohmeyer an...

Conch sees China demand rising, Indonesian plans proceeding ‘smoothly’

07 March 2012, Published under Cement News

Chairman of Anhui Conch, Guo Wensan, has said that Chinese cement demand growing despite curbs on the housing market. Speaking to Dow Jones Chinese Financial Wire on the sidelines of the National People’s Congress, Mr Wensan said the government's drive to push the construction of subsidised affordable housing is successfully offsetting declining cement demand from the private housing market. Cement demand from the 10 million affordable housing units started last year will peak from the s...

China Resources 2011 sales rise, expansion plans

06 March 2012, Published under Cement News

China Resources Cement Holdings, reported a rise in revenues for 2011 and outlined plans for further capacity expansion.  The company, which is the largest cement producer in South China, earned HK$4.18bn in net profit attributable to shareholders last year, reflecting YoY increase of 105 per cent. Last year the company’s cement, clinker and concrete sales surged 49.4 per cent, 104.3 per cent and 28.4 per cent, respectively. Average cement sales prices increased 10 per cent to CNY369.5...

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 ...