Cement News tagged under: Taiwan

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TCC expects sales increase in China and Taiwan

04 September 2013, Published under Cement News

Taiwan Cement Co (TCC) said it expects shipments to China to increase by double-digits this year due to strong infrastructure demand while domestic shipments are also forecast to advance. Shipments to China are forecast to increase by 10-15 per cent this year from 39.7Mt in 2012 to 45-46Mt this year, the Tapei Times reported Taiwan Cement’s senior vice president Edward Huang saying during an investors conference. Closure of obsolete and backward cement capacity in China due to more stringe...

TCC International expects profits to double in 1H13

10 July 2013, Published under Cement News

TCC International expects to double net profit attributable to shareholders in the first half of this year compared to the same period of 2012. The increase is mainly attributed to the group’s improved operations in southwest China and a corresponding rise in its profit contribution during the period, ET Net News reports. The advanced profits are due to a increase sales and a significant improvement in gross profit margins.

Taiwan: construction halted on Lanyu cement plant

26 June 2013, Published under Cement News

Taiwan's Ministry of the Interior, the National Property Administration and the Council of Indigenous Peoples state that a plan to build a cement plant on Lanyu is likely to be illegal, despite the Taitung County Government’s and Lanyu Township Office’s insistence that they have completed all legal requirements for the project. “The Council of Indigenous Peoples has been closely following the controversy and at first, the county and the township governments told us that they were carrying ...

Asia Cement raises US$220m from sale of five-year bond

10 May 2013, Published under Cement News

Asia Cement has raised US$220m from the sale of a five-year, zero-coupon convertible bond which it plans to use to repay maturing bonds. Due to strong demand, the deal was upsized in full, or by 10 per cent. The transaction came after the Taiwanese company’s share price on Monday hit its highest close since December. It is the second US dollar CB out of Taiwan this year after Far Eastern International Bank raised US$150m from a zero-coupon deal in late January. The company plans...

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...