Cement News tagged under: North Asia
Universal Cement sees 3Q profits surge15 November 2022, Published under Cement NewsTaiwan-based Universal Cement Corp reported a 22.7 per cent YoY increase in revenue to TWD1783.1m (US$57.6m) in the third quarter of 2022 from TWD1453.2m in the same period a year earlier. Pretax profit advanced by 158 per cent from TWD240.1m in the 3Q21 to TWD618.7m in the 3Q22 while net profit surged 193.8 per cent YoY from TWD194m to TWD570m. |
Asia Cement to start CCUS in 2025 with TCRK technology15 November 2022, Published under Cement NewsTCRK, a fast-growing IP-led CO2 capture and usage business, is collaborating with Asia Cement to bring TCRK’s carbon capture technology to a major South Korean cement plant, and support Asia Cement in achieving its 2025 decarbonisation commitments. Starting in the 1Q23, this first commercial scale deployment of TCRK carbon capture and utilisation technology will initially target 30,000t CO2e per year, growing to 120,000t CO2e per year over the first 18 months. This second target will pr... |
Taiheiyo Cement posts 11% rise in sales14 November 2022, Published under Cement NewsJapan’s Taiheiyo Cement Corp has posted consolidated net sales of JPY375,982m (US$2697m) in the six months ended 30 September 2022, marking a 10.6 per cent advance YoY. Operating profit over the same period has fallen from JPY25,812m to a loss of JPY313m, while basic earnings per share have contracted from JPY163.92 in the quarter ended 30 September 2021 to -JPY140.58 in the same period this year. |
Cement carrier sinks off the coast of Taiwan02 November 2022, Published under Cement NewsA search for 12 missing crew members continues off the coast of Taiwan after their cement carrier sank. The 10,000dwt Xing Shun No 1, built in 2014, sank on Monday, 31 October, on the east side of the Changhua channel in the Taiwan Strait. The Panama-flagged ship had 17 seafarers on board. Five seafarers who abandoned the vessel were successfully rescued, and the remaining 12 were still alive at that point, having made it to the lifeboats. Taiwanese authorities said two empty lifeboa... |
Anhui Conch sees revenue fall 30% in 3Q2231 October 2022, Published under Cement NewsAnhui Conch has reported revenue of CNY29,052m (US$4006m) in the third quarter of 2022, down 29.6 per cent on the same period a year earlier, after adjustment. Net profit attributable to equity shareholders over the same period declined by 65.3 per cent to CNY2578m. This has been attributed to rising energy costs, particularly coal prices, and a decline in the sales price of the group’s products. Basic earnings per share have contracted from CNY1.40 in the 3Q21 to CNY0.49 in the same perio... |
Taiheiyo Cement to acquire Denka cement business27 October 2022, Published under Cement NewsTaiheiyo Cement Corp is reportedly acquiring the cement business of Denka Co Ltd in March 2023. Denka has decided to exit the cement sector due to rising production costs. The company operates one integrated cement plant with 2.69Mta of cement capacity in Omi , Niigata, Japan. According to research company Nomura, Denka currently has a thee per cent share of the Japanese cement market, but demand there is falling. The company has already lowered its fiscal-year earnings guidance, for... |
China Shanshui Cement revenue falls 6.5% in 9M2226 October 2022, Published under Cement NewsChina Shanshui Cement Group Ltd has announced consolidated operating revenue of CNY16,494m (US$2285m) in the first nine months of 2022, down 6.5 per cent from CNY17,571m in the same period last year. Profit attributable to equity shareholders came in at CNY1023m in the 9M22, compared to CNY1780m in the first nine months of 2021. Profit over the same period fell from CNY1862m to CNY1041m. |
China Resources Cement releases profit warning10 October 2022, Published under Cement NewsChina Resources Cement has issued a profit warning, stating that the company expects its profit attributable to the owners to contract by 64-66 per cent in the 9M22, compared to the same period a year earlier. The company is currently in the process of finalising its unaudited consolidated results for the opening nine months of this year, which are due to be published on 21 October, 2022. |
Unprecedented fall in global cement output04 October 2022, Published under Cement NewsThe biggest fall in worldwide cement production in two decades has been recorded, according to the World Cement Association (WCA). The WCA reports that global cement output fell eight per cent YoY to 1.9bnt in the first six months of 2022. The fall was caused by a 15 per cent drop in output to 977Mt in the volume of cement produced in China, the WCA said. Ian Riley, WCA chief executive, said the Chinese decline was the biggest in more than 20 years, with no comparable decline in recent m... |
Chinese cement producers welcome construction boost03 October 2022, Published under Cement NewsManufacturing activity in China has returned to growth with the country’s purchasing managers’ index for the manufacturing sector coming in at 50.1 in September, compared to 49.4 in the previous month, according to the National Bureau of Statistics. Any reading above 50 indicates expansion. The growth comes on the back of an easing of COVID-19 restrictions, recovering domestic demand and a package of macroeconomic stimulus policies. The government's recent steps to stabilise prices, ease ... |