Cement News tagged under: West China Cement
West China Cement repurchases 2m shares09 April 2014, Published under Cement NewsWest China Cement Ltd bought back 2m shares for HK$1.9m on 8 April 2014, media reported, citing Hong Kong Stock Exchange documents. Between 1 January and 8 April, the Xi'an City-based cement manufacturer repurchased a total of 2m shares, occupying an 0.04 per cent stake. |
West China Cement ratings upgrade25 March 2014, Published under Cement NewsMoody's Investors Service has changed the outlook of the B1 corporate family rating and B1 senior unsecured bond ratings of West China Cement from negative to stable. At the same time, the research house has affirmed both ratings. "The change in outlook to stable reflects an improvement in WCC's debt leverage and a slowdown in its capital expenditure," said Jiming Zou, a Moody's Assistant Vice President and Analyst. In addition, Moody's pointed out that the acquisitions made by WCC in ... |
West China Cement profit edges ahead21 March 2014, Published under Cement NewsWest China Cement reported a 3.6 per cent YoY rise in pre-tax profit to CNY475.08m (US$76.4m) for the year ending 31 December 2013, compared to CNY458.58m a year ago. Net income attributable to shareholders rose to CNY378.32m from CNY364.88m. Earnings per share were on a par with last year at CNY0.883. Revenue increased by 18.3 per cent to CNY4.17bn from CNY3.52bn in 2012. Cement sales volumes rose by 23.1 per cent last year to approximately 17.6Mt for the year from approximately 14.3M... |
West China Cement completes Phase 1 of waste sludge treatment facility24 January 2014, Published under Cement NewsWest China Cement announced that it has completed Phase 1of its first waste sludge treatment facility at its Lantian plant, as part of on-going energy conservation and environmental protection efforts. The facility has been established under the auspices of the Shaanxi Provincial and Municipal Environmental Protection Administrative Department to co-treat industrial waste produced by the new manufacturing plant of Samsung (China) Semiconductor Corporation (Samsung) in Shaanxi Province. ... |
Fitch revises West China Cement outlook05 August 2013, Published under Cement NewsFitch Ratings has revised West China Cement Limited's (WCC) Outlook to Negative from Stable reflecting continued weak average selling prices (ASP) in the cement producer's core cement markets of Shaanxi and Xinjiang. If this trend persists, the company may face challenges in repaying its outstanding US$400m notes due in January 2016, cautions the ratings agency. Continued weak ASPs have compressed WCC's gross profit to CNY47/t (US$7.67) in 2012 from CNY76/t for 2011. The ASP was CNY238/t i... |
West China Cement chief visits Italcementi's new i.lab28 May 2013, Published under Cement NewsIn early May, West China Cement (WCC) representatives led by CEO Tian Zhenjun and Vice CEO Wang Jianli visited Italcementi's new i.lab at its Calusco cement plant in Bergamo, Italy. Accompanied by Federico Vitaletti, CEO of Italcementi's Innovation and Research Center, and Girolamo Veronese, Global Marketing Director, WCC representatives visited the facility to further deepen its cooperation with the the Italcementi Group in the fields of energy conservation and environmental protection,... |
Moody's: West China Cement's medium-term notes issuance is credit positive11 April 2013, Published under Cement NewsMoody's Investors Service says West China Cement's (WCC) issuance of medium-term notes (MTN) totalling CNY800m (US$129m) for three-years at 6.1 per cent is credit positive. The notes were issued on 28 March 2013 through WCC's indirectly wholly owned onshore subsidiary Yaobai Special Cement Group Co Ltd, which owns the vast majority of the group's assets in Mainland China. The proceeds from the MTN issuance will be used to refinance onshore bank loans, expand production facilities and for g... |
Moody’s: West China Cement investment slowdown ‘positive sign’21 March 2013, Published under Cement NewsWest China Cement’s (WCC) slowdown in investments is also a positive, according to Moody's analyst, Jiming Zou, lead analyst for WCC. WCC's shift from an aggressive expansion strategy to more prudent financial management follows the need to stabilise its capital structure, Moody’s highlighted in a statement. "This approach is necessary as it will need to refinance offshore debt in January 2016. It also reflects less pressure on WCC to increase market share, given a stabilising competitive ... |
West China Cement sees 2012 net profit jump20 March 2013, Published under Cement NewsWest China Cement Ltd has reported a rise in net profit and operating revenue for 2012 and says it expects an improved operating environment going forward due in part to increased infrastructure demand. Net profit for the group jumped 44.9 per cent YoY in 2012 to CNY360m in 2012 and operating revenue grow 10.5 per cent YoY to CNY3.52bn. Cement sales volumes grew by 28 per cent, including sales from the newly constructed Danfeng Line 2 Plant during its trial production period, compared to ... |
West China Cement chairman shares buy positive - DB07 September 2012, Published under Cement NewsDeutsche Bank (DB) says according to Hong Kong Stock Exchange filings West China Cement’s chairman, Zhang Jimin, has been buying back shares for the last few weeks since Aug. 16 (7.2 million shares at a weighted average price of HK$1.20/share). It adds, Zhang's shareholding has increased by 15 bps to 38.53% of the total issued share capital. "We believe the chairman will continue buying shares at current levels given it appears he finds the current valuation attractive. More importantly, w... |