Displaying items by tag: China
China Shanshui Cement’s profit drops by over 70% in 2022
17 January 2023China: China Shanshui Cement recorded a 70% year-on-year drop in its profit throughout 2022. Reuters has reported that the decline is the outcome of a rise in costs for the producer.
China Resources Cement's profit plummets in 2022
13 January 2023China: China Resources Cement (CRC) recorded a 74 - 78% year-on-year net profit drop in 2022. As such, its full-year net profit was US$255 - 302m. Reuters has reported that the group attributed the drop to subdued demand from construction, increased production costs and low cement and clinker prices in the regions where it operates.
Despite the slow situation in the construction market, CRC's property development arm recorded a rise in its rental income throughout 2022.
BBMG's profit drops in 2022 amid low cement sales drop
10 January 2023China: BBMG recorded a 52-59% year-on-year drop in its net profit to US$177 - 207m, Reuters has reported. The producer attributed the decline to a drop in cement sales, alongside a rise in the cost of raw materials.
Tangshang Jidong Cement warns of profit drop in 2022
10 January 2023China: Tangshang Jidong Cement expects to record a 46-52% year-on-year drop in its full-year net profit in 2022. Reuters has reported that the producer forecasts a profit of US$198-223m throughout the year, compared to US$413m in 2021.
China Tianrui Group Cement settles US$30m loan
10 January 2023China: China Tianrui Group Cement settled a term loan facility on 9 January 2023. Reuters has reported the value of the facility as US$30m.
Vicem's full-year sales grow in 2022
09 January 2023Vietnam: Vicem recorded full-year sales of US$1.68bn during 2022, up by 17% year-on-year. The producer sold 27.5Mt of cement, down by 6.7% year-on-year. Export sales volumes declined more sharply than those on the domestic market. Vicem responded to the cost impacts of economic disruptions arising from the on-going Russian invasion of Ukraine by raising its cement prices. Nonetheless, its profit fell by 30% year-on-year to US$63.9m.
Vietnam News Summary has reported that Vicem is aiming to achieve sales growth of 4% year-on-year in 2023, to US$1.74bn. Export sales growth prospects are strong, since China resumed its import of foreign goods at the end of December 2022. China consumed 54% of all Vietnamese cement exports in 2021.
LafargeHolcim Egypt's ECOPlanet green cement reduces CO2 emissions from Alamein Downtown Towers project
09 January 2023Egypt: LafargeHolcim Egypt supplied 8200t of its ECOPlanet reduced-CO2 cement for construction of Alamein Downtown Towers in Alamein City. The producer said that the cement reduced the project's carbon footprint by 45% compared to ordinary Portland cement (OPC). The government contracted China-based China State Construction Engineering Corporation for construction of the five-tower development. Three of the buildings will be residential, while the remaining two will house business and events facilities.
SONACIM orders generator part from Chinese supplier
05 January 2023Chad: Société National de Cimenterie (SONACIM) has placed an order with a China-based machine parts supplier for a part for its Baoré grinding plant’s generator. Alwihda News has reported that previously ordered the part from a supplier based in Egypt, which since failed to make the delivery. Cement production has been suspended at the plant since early July 2022, pending delivery of the missing part.
SONACIM’s deputy director general Koye Ndaye Benoît said “As soon as the part arrives, production will be restarted.”
430 people are employed in SONACIM’s operations in Chad.
Jinzhou Tiansheng Heavy Industry orders new lime plant from Maerz
30 December 2022China: Jinzhou Tiansheng Heavy Industry has ordered a lime plant with a production capacity of just under 5000t/day from Switzerland-based Maerz Ofenbau. The order includes six PFR-type kilns and will be based at a carbide plant that is being built by Mundra Petrochem, a subsidiary of India-based Adani Group. Maerz says that the new plant will be the largest lime unit ever built at a new site. The equipment manufacturer will supply engineering, material and equipment for the R5S carbide-gas-fired kilns, each with a production capacity of 800t/day.
Southeast University develops coral-based concrete
12 December 2022China: A team at Southeast University has developed an alternative concrete that contains 8% cement. It uses coral reef limestone fragments and biodebris with an upper particle size of 53mm as fine aggregate. The researchers concluded that the material proved suitable for use in precast concrete paving slab production.