Cement News tagged under: Taiwan

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TCC retains top six slot in China

07 January 2014, Published under Cement News

Taiwan Cement Corp (TCC), one of Taiwan's top cement manufacturers, has retained its position as China’s sixth largest cement producer by capacity. Last year, Taiwan Cement had production capacity of 55.27Mt in China, up 2.06 per cent from a year earlier when it also ranked sixth, according to statistics released by China Cement Net on Friday. The company was  the third largest supplier in southern China with capacity of 21.08Mt, trailing only China Resources (Holdings) Co and Anhui Conch ...

Fajar Group/Taiwanese Indonesian joint venture project

30 December 2013, Published under Cement News

The Fajar Group is to build a cement factory in Barru, South Sulawesi, in collaboration with a Taiwanese firm, Indonesian press have reported. The 10,000tpd plant will be 80-per cent owned by the undisclosed Taiwanese company, Antara News quoted Fajar Group founder Alwi Hamu as saying.   Hamu added that land clearance has been undertaken for the new plant and construction is expected to begin following Indonesia's legislative and presidential elections next year. He said the IDR7trn invest...

TCC International receives buyout bid

28 November 2013, Published under Cement News

TCC International Holdings said it received a buyout offer from its parent company Taiwan Cement Corp. Taiwan Cement currently holds a 56.5 per cent stake in TCC International Holdings. The proposed deal is valued at HKD5.59bn (US$721m), according to Bloomberg. The deal will allow Taiwan Cement to book the full profits of the Hong Kong unit, TCC International Holdings Ltd, which has a major production base in China and is benefiting from rising product prices there, analysts said.

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...