Displaying items by tag: Huaxin Cement

China: Huaxin Cement’s net profit has risen by 29% to US$23.9m in the third quarter of 2016 from US$18.5m in the same period in 2015. However, its sales revenue fell by 7.3% to US$1.36bn from US$1.47bn.

China: Huaxin Cement has proposed Ron Wirahadiraksa and Daniel Bach as candidates for its board of directors. The proposals will be submitted to the shareholders general meeting for approval.

Ron Wirahadiraksa, a Dutch national born in 1960, has been the chief financial officers of LafargeHolcim since 1 December 2015. He graduated with a Doctoral in Business Economics from the Free University of Amsterdam, the Netherlands. He also graduated as a Certified Registered Controller from the Free University of Amsterdam. Wirahadiraksa joined the Philips group in 1987. He became Chief Financial Officer at LG Philips LCD in South Korea in 1999, during which time he shared operating leadership with the Korean CEO. He became Chief Financial Officer at Philips Healthcare in 2008 and in 2011 he took over as CFO for the Philips Group.

Daniel Bach, a Swiss national born in 1963, has been the Area Manager South East Asia and China (Huaxin) for LafargeHolcim since July 2016. He joined Holcim as project engineer and manager in 1994. In 1998, he moved to Corporate Business Risk Management and in 2002 was made Technical Director for Holcim Indonesia. From 2004 – 2007, Bach acted as assistant to a member of the Holcim Executive Committee before being appointed Senior VP Manufacturing for Holcim Philippines. He became the Area Manager for South East Asia in 2011. He holds a PhD in Mechanical Engineering from the Swiss Federal Institute of Technology (ETH) in Zürich.

Huaxin Cement is an association company of LafargeHolcim. As of 31 December 2015, the group held 41.8 % of the voting rights in the associate company.

China: Huaxin Cement’s sales revenue has fallen by 11% year-on-year to US$860m in the first half of 2016 from US$968m in the same period of 2015. Its net profit fell by 91% to US$1.21m from US$13.3m. The cement producer reported falling sales in most regions, with the exception of Tibet and Henan. Notable decreases in sales revenue occurred in Jiangsu, Jiangxi and Guangxi. The company blamed the result on falling prices caused by production overcapacity and ‘vicious’ market competition.

Outside of China the company has started operation at its 300t/day Gayur plant and it is building a 0.5Mt/yr grinding plant at Dangara in Tajikistan. Planning work has also been conducted at a 2800t/day cement plant at Narayani in Nepal and a 2500t/day cement plant at Aktobe in Kazakhstan.

China: Huaxin Cement’s has made a net loss of US$20.5m in the first half of 2016 compared to a net profit of US$4.29m in the same period of 2015. Its sales revenue fell by 14% to US$361m from US$420m. The cement producer attributed its decline in net profit and operating costs to a fall in cement prices.

China: Huaxin Cement has warned that its net profit is likely to drop by up to 95% year-on-year for the first half of 2016. The Chinese cement producer reported a net profit of US$13.3m in the same period in 2015. It has blamed the situation on a ‘serious’ doemsti cement overcapacity and fierce competition in the main markets that led to the price of cement falling by 11.52%. Adverse weather also contributed to the decline.

China: Li Quanhua has resigned as the vice president of Huaxin Cement due to personal reasons. His letter of resignation was submitted on 18 June 2016 and has immediate effect. The board of directors have expressed their thanks to Li Quanhua for his contribution to the company.

Kazakhstan: The Governor of Aktobe, Berdybek Saparbayev, and Chairman of the Board of Huaxin Cement, Xu Yongmo, have signed an agreement on an investment project for the construction of a cement plant in Kargaly, Aktobe.

Huaxin Cement has decided to invest US$150m in the construction of the 1Mt/yr plant, which will produce different cement types, including oil-well cement. The construction of the plant is scheduled to start in the middle of 2016. The project does not require any investment from the state budget. In addition, it will reduce the need to import cement from Russia.

Kazakhstan: Huaxin Cement plans to a 5Mt/yr capacity cement plant in Kazakhstan. The plant would use a dry-process cement line and will start construction by the end of 2015. The project will cost around US$111m.

Tajikistan: Tajikistan is increasing its cement capacity in order to resume exports by 2020, Tajikistan's Ministry of Economic Development and Trade has reported.

Currently, there are six new cement plants operating in various capacities under construction, which will allow Tajikistan to cover its domestic needs, as well as to resume exports. The plants are being financed by domestic and foreign funding. Several medium and large capacity cement plants, including projects in Sughd and Khatlon, are being built thanks to Chinese investments.

The construction of the Tajikistan-China joint venture cement plant, Tajchina has already begun and is expected to start operation in 2015. Other cement plants are planned for construction in the Dangara, Bobokon, Gafurov, and Isfara districts, as well as in Istiklol city. Currently, the country's largest cement plant is Huaxin Gayur Cement, a joint venture between a subsidiary of China's Huaxin Cement and Gaur Limited Liability Company.

Tajikistan's Ministry of Industry and New Technologies said in January 2015 that six new cement plants would be established within the next two years. By improving the country's cement sector, which currently is comprised of 10 plants, Tajikistan expects to become a net cement exporter. Earlier, Tajikistan imported cement in large quantities from Pakistan, Iran and China.

China: According to Reuters, Chinese cement companies, including Huaxin Cement, covered by the carbon market in Hubei Province will likely be forced to spend millions of Chinese Yuan on permits before the compliance deadline on 10 July 2015 after authorities rejected their pleas for leniency.

In June 2015, the companies asked regulators to let them borrow some permits from the 2016 quota, saying that they could not afford to buy permits to cover their obligations for 2014. However, their requests were rejected, easing market concerns that big emitters would be let off the hook.

Huaxin Cement, Hubei's biggest cement producer, has been under particular pressure to buy over the last few trading days as it has a shortfall of 1.15 million permits. "Local officials have talked through the consequences of non-compliance with cement plants, so Huaxin Cement approved a US$6.44m budget to pay for permits," said a trader who did not want to be named as he was not authorised to speak to media.

Trading volumes on the Hubei carbon exchange have surged ahead of the deadline in the absence of any indication that the compliance date, initially set for 31 May 2015, would be pushed back for a second time. As of 9 July 2015, 44 companies, or 32% of the total 138 firms, did not have enough permits to cover their obligations. Of these, 26 were cement producers. A manager with Gezhouba Cement Group, Hubei's second-largest cement producer, said that its permit allocation had been miscalculated.

Companies covered by the Hubei exchange are only obliged to buy a maximum of 200,000 permits, regardless of how much they overshoot their cap. However, Gezhouba has eight subsidiaries in the scheme, bringing its total permit demand to more than a million. "The scheme is punishing big producers, but not inefficient competitors," said the Gezhouba manager. "We pleaded with the government to re-issue permits and narrow the gap, but we have not got any reply. How can we spend tens of millions on carbon?"