Cement News tagged under: China
Conch sees China demand rising, Indonesian plans proceeding ‘smoothly’07 March 2012, Published under Cement NewsChairman 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 plans06 March 2012, Published under Cement NewsChina 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 drops27 February 2012, Published under Cement NewsInvestment 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, China27 February 2012, Published under Cement NewsChina 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, China24 February 2012, Published under Cement NewsChinese 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 cent16 February 2012, Published under Cement NewsMacquarie 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, China16 February 2012, Published under Cement NewsTangshan 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, China16 February 2012, Published under Cement NewsAllied 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 outlook10 February 2012, Published under Cement NewsFollowing 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 loan08 February 2012, Published under Cement NewsState-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. |