Cement News tagged under: West China Cement

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West China Cement sees improved operating environment

17 August 2017, Published under Cement News

West China Cement Ltd and its subsidiaries reported on an improving operating environment in the first half of 2017 with sales volumes in the Shaanxi province remaining stable while volumes in the Xinjiang and Guizhou provinces registering slight increases. Total group sales volumes of cement and clinker were 8.76Mt, up from the 8.39Mt recorded in 1H16. group’s capacity as at 30 June 2017 has reached 29.2Mt of cement. The group said it has maintained a strong market position in its s...

West China Cement shares drop by one third in single day’s trading

29 June 2016, Published under Cement News

Hong Kong-listed West China Cement (WCC) has seen its shares fall by 32.7 per cent in a single day, wiping US$350m off the value of the company, Bloomberg reports. At one point, the company’s shares were trading 46 per cent down on their opening value, before recovering slightly to close at HKD1.07 (US$0.14). In May West China Cement reached an agreement with Anhui Conch that would see the latter company acquire the former. However, the deal has yet to be finalised and requires officia...

China: West China Cement to agree to Anhui Conch ownership

24 May 2016, Published under Cement News

Yesterday, shares in West China Cement rose nearly six per cent on news that a sufficient majority of option-holders had agreed to an acquisition by largest listed Chinese peer, Anhui Conch Cement, reports the Australian Financial Review. The deal should have the government's blessing as further consolidation is needed in the sector. Last week, the State Council reiterated its desire for a more concentrated industry. It wants the top 10 players to control three-fifths of capacity by 2020. ...

Fitch: West China Cement's weaker operating results outweighed by Anhui Conch's takeover

18 March 2016, Published under Cement News

Fitch Ratings believes West China Cement Ltd's weaker operations – as reflected in the 2015 results – is outweighed by its pending takeover by Anhui Conch Cement Company Limited (Conch, A-/Stable). Fitch's Rating Watch Positive on WCC is driven by the potential further integration between Conch and WCC, which will be resolved once the transaction is completed. WCC's performance in 2015 was a reflection of the weak cement market throughout the year. Its EBITDA margin narrowed to 26.6 per c...

S&P: West China Cement stays on CreditWatch Positive

01 March 2016, Published under Cement News

Standard & Poor's (S&P) Ratings Services said that it continues to keep the ratings on West China Cement on CreditWatch with positive implications while the company awaits regulatory approval to: (1) issue new shares to Anhui Conch Cement Co, and (2) acquire the latter's cement assets. "We are still awaiting details of the transaction. We also need to further clarify with both management teams regarding WCC's capital management, growth strategy, board composition, and any change to WCC's e...

West China Cement becomes the 6th Chinese company to join the CSI

07 December 2015, Published under Cement News

West China Cement Ltd (WCC) has become the sixth Chinese company to join the Cement Sustainability Initiative (CSI). WCC is the leading cement producer in Shaanxi Province, China, with its headquarters in Xi'an, a key gateway to the western region of China. In recent years, WCC has acted as a consolidator of cement assets in Shaanxi province and has also expanded production into both Xinjiang and Guizhou Provinces in western China. The group has a current annual capacity of 29.2Mta of cem...

Anhui Conch to double West China Cement stake

30 November 2015, Published under Cement News

Anhui Conch Cement Co has agreed to more than double its stake in West China Cement Ltd for HK$4.59bn (US$592m). Conch International Holdings (HK), a wholly owned unit of Anhui Conch, plans to increase its holding in Shaanxi-based West China from 21.17 per cent to to 51.57 per cent, the companies said in a filing to the Hong Kong exchange Friday. If the transaction goes through, Anhui Conch will have to make a mandatory cash offer for all shares of West China it doesn’t own, the filing show...

West China Cement to acquire Shaanxi-based producer

02 November 2015, Published under Cement News

West China Cement said it agreed to acquire the entire equity interest of Tongchuan Yaowangshan Ecological Cement Co Ltd as well as shareholder's loan at CNY767m (US$121m). Yaowangshan Cement is located in the Yaowangshan region of Tongchuan District, Shaanxi Province. The Yaowangshan cement plant that it operates is primarily engaged in the production and sale of cement, with a 2.2Mta cement capacity. The move is part of efforts to facilitate consolidation in the sector in Shaanxi...

Italcementi

01 October 2015, Published under Cement News

Italcementi has sold its 5.24 per cent stake in West China Cement for HKD341m (EUR38.5m).  The stake had been held through CimFra (Chine) Ltd.

Italcementi disposes of WCC stake

21 September 2015, Published under Cement News

Italcementi Group, via its affiliate CimFra (China) Ltd SAS, has disposed of its 5.24 per cent stake in West China Cement (WCC) for an upfront consideration of HKD341m, equivalent to approximately EUR38.5m, subject to later adjustments through a derivative contract with Credit Agricole CIB. The disposal of the minority WCC stake has no impact on EBITDA generation capacity at group level, Italcementi said in a statement on Friday.