Displaying items by tag: China
Asia Cement (China) Holdings grows nine-month profit by over 40%
28 October 2019China: Asia Cement (China) Holdings has reported a net profit of US$320m in the nine months to 30 September 2019, up by 40.2% year-on-year from US$228m. The company attributed this to steady earnings growth.
Xinjiang Tianshan Cement grows third quarter net profit
24 October 2019China: Xinjiang Tianshan Cement has recorded a net profit of US$72.2m in the three months to 30 September 2019, representing an increase of 12% from US$64.5m in the corresponding quarter of 2018. Revenue leapt up to US$464m from US$376m.
Shangfeng Cement also improved its profits in the quarter by 70% year-on-year to US$839m from US$494m in the three months to 2018.
Anhui Conch Cement boosts nine-month profit by 15% year-on-year
23 October 2019China: Anhui Conch cement made a net profit of US$3.36bn in the nine months to September 2019, up by 15% from US$2.92bn in the corresponding period of 2018. Sales over the period were US$15.7bn, having increased by 42% from US$11.0bn in the first nine months of 2018. The company explained the disparity between revenue and profit in terms of increased operating costs of 32% compared to 2018, “due to the expansion of product sales and trading business.”
Gansu Qilianshan Cement Group records US$147m nine-month profit
22 October 2019China: Gansu Qilianshan Cement Group made a net profit of US$147m in the first nine months of 2019, representing an increase of 89% from its nine-month profit to 30 September 2018 of US$78m. Operating income recorded a comparatively slow growth of 21% to US$737m from US$610 in the corresponding 2018 reporting period. The company attributed its profitable results to tactical divestments.
China Gezhouba Group enters production in Kazakhstan
21 October 2019Kazakhstan: China Gezhouba Group has inaugurated a 0.9Mt/yr clinker production plant in the Kyzylorda region. Central Asia News has reported that the plant will produce nine types of cement, with oil well cement its major product. This is aimed at diminishing the Kazakh oil industry’s dependence on cement imports. China Gezhouba Group chairman Li Ming said: “the alignment of China’s Belt and Road Initiative and Kazakhstan’s Bright Path economic policy brings great prospects for the China-Kazakhstan cement production capacity.”
The new cement plant is the first in the region and will employ 260 people.
China Tianrui Group Cement signs new clinker supply framework agreement with Ruiping Shilong
17 October 2019China: China Tianrui Group Cement has secured a new agreement with Ruiping Shilong for the supply of its clinker. The company announced that under the new arrangement, valid until 31 December 2021, it will buy clinker at a rate possibly exceeding the US$74m/yr cap stipulated in the 1 April 2019 agreement which covered the same period.
Shanshui Cement grows nine-month profit by 46.6% to US$352m
16 October 2019China: Shanshui Cement ended the nine months to September 2019 with a net profit of US$352m, up by 46.6% year-on-year from US$221m in the corresponding period of 2018. Revenue increased by 28.5% to US$2.3bn from US$1.8bn.
Democratic Republic of the Congo: The government has decided to resume the construction of the Maiko cement plant in Kisangani. Work on the project had been stalled, according to Radio Okapi. Industry Minister Julien Paluku said that contacts are already underway with a new partner to continue the work on the unit. Work on the 1Mt/yr plant started in 2007 with an investment of US$250m. China’s Satarem Hong Kong was previously linked to the project as an investor.
Death from quarry blast at cement plant in Laos
07 October 2019Laos: An explosion at a quarry related to a cement plant near Phonemany village, Nam Bak district in Luang Prabang province has killed one person and injured over 20. The nearby village was affected by the blast causing damage to houses and vehicles, according to Radio Free Asia. A villager alleged that the Chinese-owned plant never warned locals of the blasting schedule and that the explosion was larger than usual. Khammany Inthirath, Minister of Energy and Mines, said that the government had sent a team to investigate what happened.
Cemex Philippines orders cement mill from Gebr. Pfeiffer
07 October 2019Philippines: Cemex Philippines has ordered a MVR type mill for cement raw material grinding from Germany’s Gebr. Pfeiffer for a plant in Antipolo. The order also includes a MPS mill to grind coal. Gebr. Pfeiffer said that the order was received through a Chinese general contractor. No value for the order or timescale was disclosed.