Displaying items by tag: China
China: Anhui Conch Cement has appointed Yu Shui and Wu Tiejun as assistants to the general manager of the company. The postings have been made to strengthen training of junior management. They will replace Chen Yongbo in the role.
Yu graduated from Anhui University with a bachelor degree in economics. He joined the company in 1997 and has held various positions such as deputy director of the control room of the company’s sales department, assistant to director, deputy director and executive deputy director of the sales department, and in some of the company’s subsidiaries, such as executive deputy general manager of Bengbu Conch Cement, Huainan Conch Cement and Anhui Changfeng Conch Cement, general manager of Conch South Kalimantan Cement and deputy director of Wanbei Regional Management Committee. Yu is currently a director of the company’s sales department.
Wu graduated from Wuhan University of Technology with a bachelor degree in inorganic non-metallic materials. He joined the company in 2001 and has held various positions such as director of the production branch of the subsidiary, Anhui Chizhou Conch Cement, assistant to general manager, deputy general manager, executive deputy general manager and general manager of Chizhou Conch, general manager of Yingde Conch Cement and executive deputy director of the Guangdong Regional Management Committee. Wu is currently a director of the Guangdong Regional Management Committee and officer of the production control and craft management centre of the Company.
China: Huang Ting has been appointed as the chief financial officer (CFO) of China Resources Cement. He succeeds Lau Chung Kwok Robert who departed from the post on 20 October 2017. Lau will remain as an executive director of the company.
Huang, aged 48 years, joined the group in July 2003 and has held various management positions with the company, including financial controller since May 2012, general manager of the finance department in 2011 and 2012 and Deputy General Manager (Guangdong) from 2008 to 2011. He graduated from Xiamen University with a bachelors degree in economics in 1992.
China National Building Materials’ sales revenue rises by 26% to US$13.3bn so far in 2017
23 October 2017China: China National Building Materials’ (CNDM) operating revenue rose by 26% year-on-year to US$13.3bn for the first nine months of 2017 from US$10.6bn in the same period in 2016. Its net profit more than doubled to US$588m from US$175m. CNBM and China National Materials Company (Sinoma) formerly entered into a merger agreement in September 2017.
China: China Resources Cement has more than doubled its profit so far in 2017 by increasing its prices. Its turnover rose by 16.4% year-on-year to US$2.61bn in the first nine months of 2017 from US$2.24bn in the same period in 2016. Its profit tripled to US$337m from US$102m. At the same time its average selling price for cement rose by 21.5%.
Cement sales volumes fell by 9% to 52.2Mt from 57Mt but clinker volumes rose to 6.16Mt from 2.94Mt. By region cement sales volumes fell in most areas, with the exception of Hainan.
Corporacion Socialista de Cementos starts second line at Las Llanadas plant in Venezuela
17 October 2017Venezuela: The Corporacion Socialista de Cementos’ Las Llanadas plant in Trujillo has started its second production line. Following the upgrade the state-owned plant’s cement production capacity will rise to 1.35Mt/yr from 0.5Mt/yr, according to the El Mundo newspaper. The new line was built using Chinese technology.
China: Zhou Xiaochuan, the governor of the People's Bank of China, has described government targets for cutting excess capacity in the steel and cement industries as ‘optimistic.’ The Chinese government says it wants to cut steel and cement production capacity by around 10% but Zhou said he thought that might be difficult, given continued investment in urban housing and infrastructure, according to the Wall Street Journal. He made the comments at a seminar held by the Group of Thirty in Washington, US.
Chinese cement production slipping so far in 2017
04 October 2017China: Cement production has fallen by 0.5% year-on-year to 1.5Bt in the first eight months of 2017. This compares to a rise of 2.5% in the same period in 2016, according to data from the National Development and Reform Commission (NDRC). The Xinhua News Agency has also reported that the property sector stagnated in major cities due to government moves to prevent speculation.
Cement importer says Philippines faces shortages to 2020
25 September 2017Philippines: A gap between local production and demand is expected to lead to a deficit in cement for the next three to four years to 2020. Napoleon Co, president and owner of cement importer Cebu Oversea Hardware, told the Manila Bulletin newspaper that imports from China and other countries in the Association of Southeast Asian Nations (ASEAN) should be able to address the shortfall until new production capacity is built. Co added that the country imported 6Mt of cement in 2016 mainly from China and Vietnam. Similar or higher volumes of imports are expected in 2017.
Cement importers have been lobbying the Department of Trade and Industry to allow pre-shipment inspection and certification of cement. However, local cement producers have opposed the change.
CNBM and Sinoma enter into merger agreement
11 September 2017China: China National Building Material (CNBM) and China National Materials Company (Sinoma) have entered into a merger agreement. The exchange ratio has been set at 1 Sinoma share to exchange for 0.85 CNBM share. After the merger is completed Sinoma will be absorbed into CNBM. Merger preparations for the two state-owned companies have been on going since mid-2016 when the Assets Supervision and Administration Commission announced the move.
CNBM is the largest cement company in the country with a reported total production capacity of around 409Mt/yr. Sinoma is a cement engineering company and the fourth largest cement producer in China with a total production capacity of approximately 112Mt/yr. The merger is part of the government’s plans to consolidate production domestically and refocus its industries internationally as part of the ‘One Belt, One Road’ initiative.
Nepalese investment body signs deals with Hongshi-Shivam Cement
04 September 2017Nepal: The Investment Board of Nepal (IBN) has signed a project investment agreement worth US$359m with China’s Hongshi-Shivam Cement in connection with a cement plant being built at Nawalparasi. The agreement is the first of its kind signed by the IBN with a private sector company and it will last 15 years, according to the Kathmandu Post newspaper. The investment deal is the biggest made by a foreign company in the country’s manufacturing sector.
Hongshi-Shivam Cement is a joint venture between Nepal’s Shivam Holdings, which also produces Shivam brand of cement, and Hong Kong Red Lion Cement No 3, a subsidiary of China’s Hongshi Group. The Chinese company owns a 70% stake in the joint venture. Commercial production of cement is planned to start at the plant in 2018.