Cement News tagged under: Taiwan

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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 ...

Taiwan Cement: cautiously optimistic on second-half prospects

22 June 2012, Published under Cement News

The implementation of various infrastructure projects in Taiwan is expected to help improved market conditions in the second half of this year, the head of the country's leading producer has said. Chairman of Taiwan Cement Corp, Koo Cheng-yun, said during a recent shareholders' meeting that he is cautiously optimistic on the industry’s second half outlook due to various factors. “Taiwan industries will walk out of the shadow of the European debt crisis, and public infrastructure projects ...

Taiwan: cement and steel firms abort price hike plan

03 May 2012, Published under Cement News

With a power-rate hike to be carried out in three stages, major Taiwan cement and steel firms have decided to shelve their plan to raise prices. Taiwan Cement announced yesterday that its cement prices will remain unchanged in May, as it already has sufficient time to cope with the increased cost. The government originally planned to hike power rates in one fell swoop, posing heavy pressure on the cement industry, as power fee accounts for 11% of the production cost of cement. The a...

Taiwan Cement ‘cautiously optimistic’

03 April 2012, Published under Cement News

Taiwan Cement Corp (TCC), which is fast-expanding in the China cement market, expects demand to pick up gradually this year in its two main markets, after it reported a 20 per cent decline in 4Q12. Speaking to the Tapei Times, chairman Leslie Koo, said:  “We are cautiously optimistic about the business outlook [this year] after a below-trend fourth quarter when the unfavorable macroenvironment softened demand and pushed down selling prices.” Political uncertainty over the leadership re...

Goldman Sachs downgrades Taiwan Cement target price

12 January 2012, Published under Cement News

The target price for Taiwan’s leading producers, Taiwan Cement Company International (TCC) has been lowered by Goldman Sachs from HK$4.51 to HK$4.27. It has maintained its “buy” rating on the producer. The house has downgraded its earnings estimates across the Taiwan cement sector by an average of six per cent due to weaker China cement prices as sluggish demand has ensued following the government tightening measures. Goldman Sachs believes the next few months will be critical for Taiw...