Cement News tagged under: Hong Kong

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China Resources Jan-Sep net profit declines 35%

21 October 2016, Published under Cement News

China Resources Cement reported a 35 per cent fall in net profit for the first nine months of 2016 as weaker revenues impacted profits of the Hong Kong-listed cement producer. Net profit in Jan-Sep declined to HKD838.3m (US$108m) from HKD1.28bn in 9M15. Revenues saw a 12 per cent drop to HKD17.48bn. For the three months ended September, the company posted a net profit of HKD580.8m, considerably improving on last year’s third-quarter net loss of HKD248m.

China: BBMG sells stakes to Jidong Cement

30 June 2016, Published under Cement News

Chinese building materials supplier, BBMG Corp has plans to sell its stakes in 31 cement-related companies to Jidong Cement. The stakes on offer are valued at CNY15.5bn (US$2.3bn). Tangshan Jidong Cement Co Ltd will eventually become a part of BBMG as part of an overall company restructuring. This move comes as the Chinese government tries to get rid of smaller or inefficient players in sectors such as glass, steel and cement. In May 2016 the government stated that it intends would give c...

Hong Kong: Allied cement proposes name change

02 June 2016, Published under Cement News

Allied Cement aims to improve its core competitiveness and the Board believes that the proposed change of company name to Tongfang Kontafarma Holdings Ltd would better reflect the expansion of the group’s business scope and diversified operations.  The Board is of the view that the proposed name change is in the best interests of the company and the shareholders as a whole, and provide the company a new image.

Huaxin Cement subsidiary buys stake in Success Eagle Cement

05 July 2013, Published under Cement News

Huaxin Cement Ltd's wholly-owned Hong Kong subsidiary recently signed an equity transfer agreement with Starry Cosmos Group Ltd to acquire a 20 per cent stake in Success Eagle Cement (Hong Kong) Ltd for HKD75m (US$9.7m), the company announced on 3 July After the deal, Huaxin Cement's Hong Kong subsidiary will hold a 65 per cent stake in Success Eagle Cement.