Cement News tagged under: Taiwan

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Factory in the forest

04 June 2024, Published under Cement News

At its 5Mta Hualien plant in Taiwan, Asia Cement showcases its new circular economy solutions as well as its biodiversity restoration programme. The company’s drive for sustainable operations ranges from finding safe ways to dispose of waste wind turbine blades and refrigerants to quarry restoration and the creation of its own ecological park. By Chih-Hsien, Yu-Chung Tseng and Ting-Yun Lai, Asia Cement, Taiwan Asia Cement has actively invested in kiln technology to dispose of refrig...

Taiwan Cement to operate as TCC Group Holdings

27 May 2024, Published under Cement News

Taiwan Cement Corporation (TCC) held its shareholders' meeting on 21 May 2024 officially announcing the transformation of the 78-year-old company into a group holding company, shifting its English name from Taiwan Cement Corporation to TCC Group Holdings. This marks a significant leap into 11 industries, spreading its presence across 13 international markets.  TCC's Chairman, Nelson Chang, highlighted that 60 years ago, TCC operated as a cement-only supplier. TCC has now advanced to becom...

Southeast Cement Corp’s disappointing 1Q24 results

13 May 2024, Published under Cement News

Taiwan-based cement producer, Southeast Cement Corp Ltd, has reported its 1Q financial results for the period ending 31 March.  The company saw a 9.3 per cent YoY increase in revenue, from TWD528.05m (US$16.29m) in 1Q23 to TWD576.89 in 1Q24. Pretax profit also rose by an impressive 178 per cent during this period, from TWD19.51m to TWD54.24m. Despite these positive trends in revenue and pretax profit, the company’s net profit fell 16.2 per cent from TWD34.09m to TWD28.58m. Furthermore,...

Taiwan Cement Corp to introduce electric tractor units

22 April 2024, Published under Cement News

Taiwan Cement Corp (TCC) will bring Taiwan Transport and Storage Corp's (TTSC) first electric tractor units into operation to transport cement – the first company in the country to use electric vehicles to transport building materials, reports the Taipei Times. TTSC unveiled its first electric tractor unit manufactured by Volvo Trucks in a ceremony in Taipei on 18 April. The company's chairman, Koo Kung-yi, said about 12 per cent of carbon emissions in Taiwan come from the transportation s...

Fitch Ratings expects Taiwan Cement to maintain credit profile after earthquake

12 April 2024, Published under Cement News

The BBB-/Stable credit profile of Taiwan Cement Corp (TCC) is unlikely to be affected by the equipment damage and operational disruption caused by the 3 April 2024 earthquake in eastern Taiwan, according to Fitch Ratings. Repairment costs and lost revenue in relation to the earthquake should not damage TCC's financial profile, as the amounts are immaterial relative to TCC's EBITDA of TWD20bn (US$619.7m) and TWD126bn of cash on hand as of end-2023. The company's preliminary assessment esti...

Southeast Cement sees 2% YoY revenue increase

29 March 2024, Published under Cement News

Taiwan-based Southeast Cement has reported revenue of TWD2.27bn (US$70.88m), up two per cent on the previous year. Net income in 2023 came in at TWD149.5m, on a par with 2022, while the profit margin declined from 8.3 per cent in 2022 to 6.6 per cent the following year, reportedly driven by increased expenses. Basic earnings per share from continuing operations in 2023 stood at TWD0.26, unchanged from 2022.  In the fourth quarter of 2023, ended 31 December, the company recorded total r...

Hsing Ta Cement reports a 72% growth in net profit in 2023

14 March 2024, Published under Cement News

Hsing Ta Cement Co Ltd has reported a 71.8 per cent increase in net profit, from TWD399.2m (US$12.7m) in 2022 to TWD685.9m in 2023. The net profit growth comes after a 1.6 per cent reduction in revenues from TWD6.4bn to TWD6.3bn, over the same period. Basic earnings per share for 2023 came to TWD2.01, up 71.8 per cent from TWD1.17 in 2022.  Diluted earnings per share increased 72.4 per cent, from TWD1.16 in 2022 to TWD2.00 in 2023.

Chia Hsin Cement Corp sees sales advance YoY

13 March 2024, Published under Cement News

Taiwan-based Chia Hsin Cement Corp has reported sales of TWD2911.6m (US$92.7m) for the full year 2023, marking an increase from TWD2253.7m in the previous year. Net income in 2023 came in at TWD81.1m, compared to a net loss of TWD180.8m in the year-ago period. Basic earnings per share from continuing operations stood at TWD0.12 in 2023m, up from a basic loss per share of TWD0.27 in 2022. 

Taiwan Cement completes share agreement for Denizli Çimento

13 December 2023, Published under Cement News

Taiwan Cement Corp  has finalised its agreement with OYAK Çimento to acquire a further 20 per cent stake in Denizli Çimento ,Turkey. According to Reuters this will boost Taiwan Cement's share in the company to 60 per cent. The preliminiary Memorandum of Understanding (MoU) regarding the deal was signed in November this year. Reuters has assigned Denizli Çimento a total enterprise value of US$1.42bn. 

Taiwan Cement commissions battery project

06 December 2023, Published under Cement News

Taiwan Cement Group has commissioned a 311MWh battery at its HePing plant in Hualien County, Taiwan. The battery has been supplied by NHOA SA, formerly Engie EPS, according to Renewables Now.  The cement producer called the project “a bold statement of our dedication to renewable energy and a testament to our role in Taiwan’s ambitious journey towards carbon neutrality by 2050.” It marks the third energy storage system completed by NHOA Energy in the Asia-Pacific region in 2023 alo...