Cement News tagged under: North Asia

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Oman Investment Authority starts sale of Oman Cement Co to Huaxin

14 March 2023, Published under Cement News

The Oman Investment Authority (OIA) has started the process for divesting its majority stake in Oman Cement Co. Ibrahim bin Said al Eisari, director general of private ownership at OIA, said: “This exit comes in accordance with a plan pursued by OIA aimed at achieving a number of goals, including attracting foreign investment to the sultanate. This will contribute to achieving economic diversification and transfer of modern technology to the targeted sectors.” OIA will sell its entire sha...

Taiheiyo Cement secures Japan's first transition-linked loan

10 March 2023, Published under Cement News

Taiheiyo Cement Corp has raised capital from the Development Bank of Japan Inc through a transition-linked loan, marking the first time transition finance has been secured by the cement industry in Japan. According to the company, transition-linked loans are a financing framework designed to support companies working to reduce greenhouse gases in line with strategy, linking the borrower’s performance against predetermined Sustainability Performance Targets (SPTs) with the terms of the loan...

Taiheiyo’s Jiangnan-Onoda suspends cement business in Nanjing, China

01 March 2023, Published under Cement News

Taiheiyo Cement Corp announced that its consolidated subsidiary Jiangnan-Onoda Cement Co Ltd has decided to suspend the cement manufacturing and sales business in Nanjing City, China. The competitive environment in China has become increasingly challenging due to the technical advances in local capital and the expansion of the scale of its production base. Therefore, Taiheiyo Cement has decided to suspend the operations of Jiangnan-Onoda Cement to focus on the policy set out in the group...

Taiwan Cement fined for price fixing

22 February 2023, Published under Cement News

Taiwan Cement Corp (TCC) is one of 18 firms fined a combined TWD213m (US$7m) for forming a ready-mixed concrete (RMC) price-fixing cartel, accord to Taipei Times. Since 2018 the companies have regularly met in person and messaged via apps to control the supply of RMC and drive up prices, reports the Fair Trade Commission. TCC faces an individual fine of TWD50m but has said that it will appeal against the ruling. “TCC’s ready-mix concrete quality and price have been considered to be the ...

West China Cement Ltd: new appointments

03 February 2023, Published under Cement News

Dr Ma Weiping has resigned as executive director and chief executive officer of West China Cement Ltd , effective from 2 February 2023. According to the company, Dr Ma has chosen to leave “to devote more time to his other personal endeavours”. The board thanks Dr Ma for his valuable contributions to the company during his time at West China Cement Ltd.  Effective immediately, Cao Jianshun has been appointed executive director and chief executive officer. Mr Cao has extensive experience i...

Asia Cement forecasts 75% fall in profit

20 January 2023, Published under Cement News

Asia Cement (China) Holdings Corp has issued a profit warning stating that its unaudited profit attributable to equity holders for 2022 is expected to decline by approximately 75 per cent YoY. This is being blamed on a fall in sales volumes and selling prices of the company’s products, along with an increase in the cost of coal, compared to 2021. Full results for 2022 will be published at the end of March 2023. 

China Shanshui Cement issues profit warning for 2022

18 January 2023, Published under Cement News

China Shanshui Cement has issued a profit warning, saying that it expects to report a fall in profit of at least 70 per cent in 2022. According to the company, attributable profit for the year is forecast to have contracted by at least 70 per cent, compared to the CNY2.78bn (US$410.8m) recorded in 2021. 

China Resources Cement issues profit warning for 2022

13 January 2023, Published under Cement News

China Resources Cement Holdings Ltd has issued a profit warning saying that it expects its profit attributable to owners of the company to contract by 74-78 per cent YoY in 2022. The fall is being attributed to a rise in the unit cost of sales of cement products by the group in 2022, compared to the previous year, along with lower sales volumes over the 12-month period. 2022 also saw lower average selling prices for cement and clinker in the regions in which the company operates, versus...

BBMG warns of 59% profit fall in 2022

13 January 2023, Published under Cement News

China-based cement producer BBMG Corp has announced that it expects to report a 52-59 per cent YoY decline in net profit attributable to shareholders in 2022. Net profit for the year is forecast come in at CNY1200m-CNY1400m (US$177m-207m). Net profit attributable to shareholders after deducting non-recurring profit and loss is predicted to be around CNY350m-550m, representing a YoY fall of 120-132 per cent. Over the same period the company recorded consolidated sales volumes of cement and...

Sangwon Cement to increase production in 2023

06 January 2023, Published under Cement News

The workers of the Sangwon Cement complex in North Korea are making innovations in cement production and implementing the decisions of the Sixth Plenary Meeting of the Eighth Central Committee of the Workers’ Party of Korea.   On the basis of successes and experience gained last year, the cement plant has proactively conducted the organisational and political work to improve the main burner flame efficiency and to increased production in 2023. Precalciner improvements are also increas...