Cement News tagged under: China
Daiwa sees positive developments for China from 2H13 July 2012, Published under Cement NewsAnalysts at brokerage Daiwa have said that while current cement demand in China does not look good and many local producers have issued profit warnings, macro data suggests that the country's overall economic conditions are holding up, and loosening measures by the central government are helping infrastructure and property investment to pick up gradually. "We see positive developments for the China cement market for 2H12, especially when the rainy weather ends." Daiwa suggests investor... |
Huaxin Cement expects H1 net profit to drop 50%, China12 July 2012, Published under Cement NewsHuaxin Cement Co Ltd, in which Holcim holds an approximate 42 per cent stake, has become the latest Chinese producer to issue a first-half profit warning. The Hubei Province-based cement manufacturer said on 9 July that its net profit is expected to fall by at least 50% YoY in the first half of 2012 due to a decline in cement prices. The company booked CNY542m in net profit in the same period of 2012. Last year, Huaxin Cement acquired three plants in the province of Hubei with a capacity... |
Tianshan Cement forecasts 60-80% drop in 1H profits10 July 2012, Published under Cement NewsXinjiang Tianshan Cement Co Ltd said last Friday that its net profit fell 60-80 per cent to CNY120m (US$18.8m) in the first half of this year. The company, which is based in the Xinjiang Uyghur Autonomous Region, stated that the decline in its half-year net profit is largely due to lower cement selling prices and rising financial expenditure, according to reports by China Business Newswire. |
Tianshan Cement forecasts CNY120m in 1H net profit09 July 2012, Published under Cement NewsXinjiang Tianshan Cement Co Ltd, a cement producer based in Xinjiang Uyghur Autonomous Region, forecasted on July 6th that its net profit will reach about CNY120m (US$18.8m) in the first half of 2012, down 60-80% YoY. (Source: China Business Newswire). |
Citigroup lowers Italcementi price target, Italy09 July 2012, Published under Cement NewsCitigroup has lowered its price target on Italcementi to EUR3.60 from EUR4.10, after cutting by 15% the pre-tax profit estimates for the Italian cement producer in 2012 and 2013. The prices and figures in Italy grew despite the weak market conditions but the dipping sales in France lead the bank to expect lower figures in 2012 than in 2011, Citigroup commented. The higher prices in North America are expected to raise Italcementi's profit on the market both in the first half and full-201... |
China: first half profit concerns09 July 2012, Published under Cement NewsWith disappointing economic data emanating from China recently, a number of domestic cement producers have issued profit warnings for the first half of 2012 of between 30-50 per cent. While some of these manufacturers have reported improving market demand since the second quarter, pressure on cement prices is likely to persist. An increasing number of Chinese companies across the board are feeling the pinch of a slowdown in the overall economy as investment, factory output and retail sale... |
Italcementi: June '1206 July 2012, Published under Cement NewsA reduction in the use of clinker, which has fallen back to a level last seen in the early 1970s, has led Italcementi to eliminate three of its Italian cement works. The Pontassieve works near Florence is being sold to Colacem, the third largest Italian cement producer, as this works is very much on the periphery of Italcementi's areas of operation. Furthermore, two other integrated Italcementi cement works are to be closed permanently during the third quarter of this year. The sale of I... |
Anhui Conch to issue corporate bonds, China06 July 2012, Published under Cement NewsAnhui Conch Cement said on Wednesday that its board of directors has approved its plan to issue up to CNY6bn worth of corporate bonds with a maturity of no more than 10 years. Proceeds from the issuance will be used to replenish working capital and adjust debt structure. (Source: China Business Newswire). |
Brazil competition authority approves Camargo purchase of Cimpor05 July 2012, Published under Cement NewsBrazil’s competition authority CADE has approved Camargo Correa’s purchase of a controlling stake in Portuguese cement producer Cimpor, subject to several conditions. The main condition set by the regulator is that Votorantim, Camargo’s competitor on the Brazilian market, sells its stake in Cimpor. Votorantim and Camargo Correa both bought shares in Cimpor in 2010. Through their shareholdings in Cimpor, both Camargo Correa and Votorantim increased their share of Brazil's market. Cade als... |
China Tianrui sees 1H net profit down 30%05 July 2012, Published under Cement NewsChina Tianrui Group Cement said it expects net profit to be down around 30 per cent for the first half of 2012 compared to the same period of last year. The company said that since the second quarter of 2012, there has been a rebound in market demand for cement products in Central China and Liaoning province and the sales volume and selling prices of cement products of the company has generally increased and remained relatively stable as compared to the prior quarter, but were still lower... |