Cement News tagged under: China

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Anhui Conch acquisition, China

19 January 2012, Published under Cement News

Anhui Conch Cement plans to acquire Anhui Conch Venture Capital’s no 4 and 5 energy saving equipment factories, and relevant land use rights, for a total of CNY22m, reports Shanghai Securities News, citing a company filing. According to the filing, the cement maker plans to set up an equipment storage centre, which will boost production and lower procurement costs. The factories purchased will be mainly used for storage, said the firm.

Tongli Cement expects 83% rise in net profit

18 January 2012, Published under Cement News

Chinese cement producer, Henan Tongli Cement, expects an 83 per cent rise in net profit for 2011 at CNY235m, up 83 per cent YoY. Earnings per share for the Henan Province-based producer are reported to be CNY0.93. Source: China Daily Newswire

Citigroup lowers target price for two Chinese producers

13 January 2012, Published under Cement News

Citigroup has lowered its target price for Anhui Conch and China Resources Cement. Conch’s target price has been lowered to HK$37.5 from HK$28.2 and maintained its buy call. The research house expects a price cut of CNY20-30/t and a cost hike of abut CNY10/t as lower utilisation drives fixed costs up. Meanwhile, the target price for China Resources Cement has been cut to HK$5.53 from HK$5.88 and maintained its ‘neutral’ rating. The house noted that management sounds comfortable on demand...

Goldman Sachs downgrades Taiwan Cement target price

12 January 2012, Published under Cement News

The target price for Taiwan’s leading producers, Taiwan Cement Company International (TCC) has been lowered by Goldman Sachs from HK$4.51 to HK$4.27. It has maintained its “buy” rating on the producer. The house has downgraded its earnings estimates across the Taiwan cement sector by an average of six per cent due to weaker China cement prices as sluggish demand has ensued following the government tightening measures. Goldman Sachs believes the next few months will be critical for Taiw...

Xinjiang Tianshan public issue to fund six projects, China

12 January 2012, Published under Cement News

Xinjiang Tianshan Cement Co, based in Northwestern China’s Xinjiang Uygar Autonomous region, plans to raise up to CNY2.8bn (US$443m) through a public offering to fund six projects. The company plans to issue up to 120m new shares at a price of CNY20.64/share. Some CNY2.48bn from the offering will be used to construct five cement productions lines and one grinding facility in Xinjiang. These new investments will bring Xinjiang Tianshan Cement’s total number of lines to 16.  Total capaci...

Defining the future

21 October 2011, Published under Cement News

Ahead of Cementtech 2011, Xiangzhong Kong, Secretary General of the China Cement Association (CCA), talks to ICR about the prospects for the domestic cement market and outlines the key policies which will define the Chinese cement industry over the coming five years and beyond. ICR: How will the Chinese economy perform in 2011 compared with 2010? CCA: China’s economy will continue its stable development trend in 2011. The government is very concerned about livelihood issues an...