Cement News tagged under: Taiwan

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Asia Cement Corp plans US$200m convertible bond issue – report

08 May 2013, Published under Cement News

Taiwan-based Asia Cement Corp is planning a US$200m convertible bond issue to repay debts, according to Dow Jones Newswires Tuesday. The Taiwanese company is selling the five-year zero-coupon bond convertible into its Taipei-listed ordinary shares at an indicative price range of TWD46.13 and NT$48.00, representing a premium of 23-28 per cent above the stock's Tuesday closing price of NT$37.50, two term sheets seen by Dow Jones shows. There is an option to raise an additional US$2...

Improved outlook for Asia Cement Corp in 2013

12 April 2013, Published under Cement News

Taiwanese producer Asia Cement Corp is expected to return to a path of growth this year driven in part by earnings growth from its operations on mainland China, a recent report by HSBC has said. Last year, Asia Cement’s net profit plunged 38 per cent to TWD6.24bn (US$208.3m), which was 16 per cent lower than HSBC’s forecast. However, the Taipei Times reports that HSBC analyst Elaine Lam retained her “neutral” rating on Asia Cement, with an unchanged 12-month target price of NT$36.45, repr...

Taiwan Cement Corp secures syndicated loan, Taiwan

22 January 2013, Published under Cement News

Taiwan Cement Corp (TCC) has secured a five-year oversubscribed syndicated loan of TWD14bn (US$48.29m) from 12 banks, including two Chinese lenders, the company said in a press release. TCC had planned to raise TWD12.5bn to meet its debts, long-term equity investments and operational costs, the company said in a statement issued after the signing ceremony. The six main lenders are Mega International Commercial Bank, Chinatrust Commercial Bank, Taipei Fubon Commercial Bank, Taiwan Coope...

Lucky’s US$160m Vietnam investment short on raw materials

26 November 2012, Published under Cement News

Chen Liang-chuan, the founder of the Taiwan-based Lucky Cement Corp, may see his US$160m into He Duong Cement Co, Nin Binh, Vietnam in 2008 evaporate as the project has found itself suddenly without adequate raw material sources, according to Venews. Chen Liang-chuan was awarded by the local government the right to mine a 72ha limestone field for 49 years. The project was approved by Nguyen and related ministries. However, just as the plant’s two new 4Mta production lines were about to st...

Taiwan Cement sees higher demand and prices lifting fourth quarter

06 November 2012, Published under Cement News

Taiwan Cement Co expects profits to rise in the fourth quarter of on the back of increasing demand and rebounding cement prices in China. TCC’s net profits in the first three quarters dropped nine per cent YoY to NT$6.002bn (US$200.01m) as it suffered from declining cement prices in China. However, with cement prices in southern and eastern China  in the fourth quarter nearly 50 per cent higher over the first half of 2012, along with increasing shipments, TCC’s operation in China is expec...

Taiwan Cement and Asia Cement to upgrade environmental equipment in China

26 September 2012, Published under Cement News

Anticipating stricter environmental regulations for cement producers in China, Taiwan Cement Co plans to invest TWD700m (US$23.8m) to upgrade its NOx and SOx abatement equipment, while Asia Cement is considering the same step.  Taiwan Cement International Holdings Ltd. has started installing new equipment in its Chongqing plant, aiming to decrease NOx emissions by 60 per cent, with the same works ongoing at the plants in Guizhou and other areas. According to an industry insider says th...

New South Sulawesi cement plant planned, Indonesia

31 August 2012, Published under Cement News

A new cement plant is being planed in Barru, South Sulawesi involving an investment of US$400m, according to executive director of the PT Fajar Semen Baru project, James Martin. According to Indonesian press reports, the venture will involve participation from two cement companies in German and Taiwan and funding is to be sourced from a local consortium of banks. The cement plant is slated to have a capacity of 3.3Mta and, once operational, will serve eastern Indonesia.

Taiwan Cement to invest in strengthening position in China

30 August 2012, Published under Cement News

Taiwan Cement Co (TCC) is to invest TWD9bn (US$300m) annually over three years in China to achieve a production capacity of 100Mta by 2016, according to the company’s head. Chairman, Leslie Koo, said TCC’s investment this year will focus on second-phase plant construction in Anshun, Guizhou province in China, Taiwan Economic News reported. While Chinese cement demand has lagged of late due to the effects of the European sovereign debt crisis and domestic macroeconomic controls, Koo hig...

Macquarie lowers TCC Int’l price target, Taiwan

17 July 2012, Published under Cement News

Investment bank Macquarie has lowered its target price for Taiwan Cement Company (TCC) International to HK$2.4 from HK$4.2, and maintained its "outperform" rating. The house cut its earnings forecasts by 43 and 37 per cent for 2012/13 to reflect lower sales volume and lower-than-expected cement prices. TCC issued profit warning on 4 July, indicating that profits would decline more than 50 per cent YoY. Macquarie said this is not a surprise, as it has been expecting a 72 per cent YoY earnin...

Asia Cement to build plant in Northern China

22 June 2012, Published under Cement News

Asia Cement has announced plans to build a new plant 10Mta plant in Handan, Hebei province, marking the Taiwan-based producer’s first foray into the North China Market. Taiwan Economic News reported Asia Cement vice chairman, TS Chang , as saying that the new plant will have a capacity of 10Mta, comprising two kiln lines, and will be operational by 2015. The project is expected to cost TWD20bn (US$670m). Currently, Asia Cement’s investments in China are concentrated in the central and ...