Cement News tagged under: Taiwan Cement
Taiwan Cement completes share agreement for Denizli Çimento13 December 2023, Published under Cement NewsTaiwan 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 project06 December 2023, Published under Cement NewsTaiwan 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... |
Taiwan Cement expands its European footprint29 November 2023, Published under Cement NewsTurkey's Army Pension Fund, OYAK , has reached a preliminary agreement to sell its stakes in two cement companies to Taiwan Cement Corp for a total of about EUR673m. OYAK is selling a 20 per cent stake in Oyak Denizli Cement of Turkey to Taiwan Cement, valuing the company at EUR1.3bn (US$1.42bn). Taiwan Cement estimates it will pay EUR193.4m for the stake, increasing its ownership to 60 per cent, a filing from the Taiwanese company confirmed. Taiwan Cement had purchased a 40 per cent s... |
Taiwan Cement plant has 107MWh battery commissioned26 September 2023, Published under Cement NewsNhoa Energy, a unit of Nhoa SA, formerly Engie EPS, has announced the commissioning of a 107.3MWh energy storage project at a Chinese plant of Taiwan Cement Group (TCC Group). Announcing the system's completion recently, TCC Group said Nhoa Energy had designed and developed the 43.2MW energy storage system. Located at TCC Group’s Yingde plant in Guangdong province, the battery is the main part of one of the largest industrial microgrids, Nhoa, which is majority owned by TCC. The Nhoa ... |
Mixed bag of results for Taiwanese producers in June11 July 2023, Published under Cement NewsTaiwanese cement producers have seen a mixed bag of results for June as well as the opening six months of the year. Universal Cement has reported revenue in June 2023 of TWD604.3m (US$19.26m), up from TWD573.03m in the same month a year earlier. Revenue for the first six months of 2023 came in at TWD3754.7m, compared to TWD3280.9m in the 1H22. Lucky Cement Co also saw its revenue expand in June, coming in at TWD443m, up from TWD334.1m in the same month a year earlier. Revenue for t... |
Meeting the biodiversity challenge26 May 2023, Published under Cement NewsThis week saw the UN-sanctioned "International Day for Biological Diversity", dedicated to promoting its new theme "From Agreement to Action: Build Back Biodiversity". The next UN Climate Change Conference, COP 28, which takes place in Dubai, UAE at the end of the year will advance this agenda further, as well as take stock of the implementation of the Paris Agreement objectives for biodiversity. Recognition of biodiversity loss and the need to change damaging practices is a starting poin... |
Universal Cement reports reports lower 1Q profit15 May 2023, Published under Cement NewsTaiwan-based Universal Cement Corp reported revenue of TWD1835m (US$59.4m) in the January-March 2023, up 19.8 per cent when compared with the equivalent quarter of 2022, when revenue was TWD1532m. However, pretax profit more than halved from TWD728.8m in the 1Q22 to TWD315.5m in the 1Q23. Net profit was down 60.6 per cent YoY to TWD272.9m in the 1Q23 from TWD691.9m. |
Taiwan Cement reports 9% increase in April revenues11 May 2023, Published under Cement NewsTaiwan Cement Co reported revenues of TWD9.1bn (US$296.4m) in April 2023, up 9.4 per cent from TWD8.319bn in April 2022. In the first four months of 2023 the company saw its revenue advance by 13.4 per cent to TWD35.462bn from TWD31.265bn in the 4M22. |
Taiwan Cement Group plans green bond04 May 2023, Published under Cement NewsTaiwan Cement Group is planning to issue green bonds through its subsidiary in Europe, marking the first time the group has sold such bonds to finance environmentally-friendly projects. In a statement to the Taiwan Stock Exchange, Taiwan Cement Co (TCC) said its energy storage subsidiary NHOA SA in Italy will sell convertible green bonds with a maturity of five years, aiming to raise EUR250m (US$276m). In July 2021, through its subsidiary Taiwan Cement Europe Holdings BV, TCC acquired... |
Taiwan Cement fined for price fixing22 February 2023, Published under Cement NewsTaiwan 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 ... |