Displaying items by tag: China

China: The board of directors of Anhui Conch has announced that Ji Qinying tendered his resignation as an executive director on 1 November 2013. A new executive director will be elected and appointed in due course.

China: China Resources Cement has entered into a strategic co-operative framework agreement with Jianhua Construction Materials (China) Investment Company Limited regarding the supply of cement for a term of five years.

Jianhua will give priority to China Resources Cement for the purchase of cement in all regions where both parties have established production facilities. China Resources Cement will ensure the timely delivery of the required grades and quantities of cement as required by Jianhua at the most 'favourable' market prices.

Jianhua is the largest concrete pile manufacturer in China in terms of production capacity, sales volume and the market share.

China: China's cement output has increased by 8.9% year-on-year to 1.75Bt for the first nine months of 2013, according to data released by the National Bureau of Statistics. Cement output in September 2013 rose by 6.4% year-on-year to 225Mt. In mid-October 2013 China's State Council issued guidelines to tackle production overcapacity in the cement and other industries.

China: Sinoma International has announced that its subsidiary Sinoma Construction has signed a US$277m contract to build a 6250t/day clinker production line for the United Cement Company of Nigeria's Calabar plant. Sinoma will be responsible for equipment and steel structure supply, design, installation, civil construction, commissioning and training in the whole process from mine crushing to cement shipping. Construction of the cement mill is planned to be completed by the end of 2015. Construction of the clinker line is planned to be finished by mid-2016.

Germany: AVIC International Beijing Company (AVIC) has lead an offer to buy KHD Humboldt Wedag International AG in a deal worth US$433m. It hopes to acquire all of the remaining KHD shares by way of a voluntary public takeover offer.

At the same time it has entered into share purchase agreements with numerous sellers to purchase 19.03% of shares in the German cement plant builder. Through its subsidiary, Max Glory Industries, AVIC already owns 20% of KHD, which will bring its total to 39.03%.

"This is a long-term investment for us. A more stable shareholder base will benefit KHD's worldwide employees, customers, suppliers and financing partners and KHD will continue providing environmental friendly and state-of-the-arts products and services," said Mr Diao, president of AVIC Beijing Company.

China: China's State Council, the country's cabinet, has issued a guideline to tackle production overcapacity in several industrial sectors. According to a statement on the Chinese government's website and reporting by the Xinhua News Agency, the guideline targets the cement sector and four other sectors suffering from overcapacity including steel, electrolytic aluminium, sheet glass and shipping.

The move is a key measure for the government to achieve stable growth, restructuring, transformation and an 'upgraded' version of the Chinese economy, according to the 'Guideline to tackle serious production overcapacity'. The guideline will play a key part in current and future efforts to transform the economic growth mode and boost industrial restructuring, according to the statement.

China: China has released a plan to cap coal consumption to below 65% of its total primary energy use by 2017 in order to tackle air pollution.

"The pressure to curb air pollution is rising amid China's industrialisation and urbanisation and increasing consumption of energy and resources," said the government plan. The plan follows widespread public awareness of air pollution since levels of particulate matter smaller than 2.5μm (PM_2.5) recorded in Beijing broke World Health Organization safety limits in January 2013.

According to a plan published on the country's national website, new industrial projects in the Beijing-Tianjin-Hebei region in north China, the Yangtze Delta region in the east and the Pearl River Delta region in the south will be banned from building their own captive power plants. These regions will also be encouraged to replace coal use with power purchased from other areas or with power generated from natural gas or non-fossil fuels such as nuclear power. The plans follows previous measures to phase outdate industrial capacity.

However environmental activists and analysts quoted by Reuters have pointed out that the system could be undermined by loopholes such as allowing areas to import energy from elsewhere.

National: The Ministry of Industry and Information Technology has released a third list of 58 companies, including cement companies, which should cut their excess production capacity by the end of 2013 as a part of the country's economic restructuring drive. The ministry said that local authorities must ensure that overcapacity is eliminated, rather than transferred to other regions.

Regional: South-eastern Fujian province produced 52.1Mt of cement in the first eight months of 2013, a year-on-year increase of 13.3%, according to data released by the local statistics bureau. Jiangxi Province produced 54.8Mt of cement in the first eight months of 2013, a year-on-year increase of 21.1%.

Central Hubei province saw cement output increase by 8.3% year-on-year to 60.3Mt in the first seven months of 2013.

North-west Shaanxi province saw cement output total 53.9Mt in the first eight months of 2013, a year-on-year increase of 9.3%.

Southern Hainan province has produced 10.5Mt of cement in the first seven months of 2013, a year-on-year increase of 26.3%. South-central Hunan province produced 9.47Mt of cement in August 2013, a year-on-year decrease of 2.8%.

Corporate: Gansu Qilianshan Cement Group plans to spend US$43.4m on acquiring a 100% stake in Longnan Runji Cement to expand into the Gansu province market. Runji Cement currently operates a 2500t/day dry-process cement plant.

China: A subsidiary of National Materials Group (Sinoma) is buying a 59.1% stake in German mining equipment firm Hazemag & EPR for US$137m. The Chinese state-owned cement equipment manufacturer and cement producer made the announcement in a statement filed to the Hong Kong stock exchange.

"It will improve the technique, strengthen the management and establish the channels for the purpose of rapid expansion of Sinoma International to the field of mining equipment and generate more return for the group when Hazemag makes more profit in the future," said Sinoma chairman Liu Zhijiang in the statement.

China: The Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission (NDRC) had finalised details of an overall plan to reduce overcapacity in the cement industry according to Xin Renzhou, an official with the MIIT interviewed by an affiliate of the Xinhua News Agency.

Xin said that the plan would require higher standards for environmental controls including fuel efficiency measures. Cement plants failing to comply with the new requirements will be ordered to make changes or face losing market access. Jing Xiaobo, another official from the MIIT, added that the through the plan China also intends to reduce overcapacity mby expanding domestic demand, accelerating its decommissioning strategy and optimising organisational structures in cement producers.

In addition to joint efforts between the MITT and the NDRC, the China Banking Regulatory Commission and other related authorities will issue a series of supporting policies on curbing overcapacity, and adopting more commercial measures to strictly control the output capacity of major industries, such as the cement industry.