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Sinoma profit crashes by 51% in 2012 27 March 2013
China: China Sinoma International Engineering, one of China's leading providers of cement engineering and integration services, has said that its net profit plunged by 51.3% year-on-year to US$123m in 2012.
In 2012 the company saw its total operating revenue drop by 17.6% year-on-year to US$3.42bn. For its cement engineering and integration services business, the operating revenue fell by 15.5% to US$3.09bn.
The company's revenue from the China market plunged by 23.6% year-on-year to US$1.98bn in 2012. Its overseas market decreased by 8.65% year-on-year to US$1.41bn. As the end of 2012, the Shanghai listed company had US$3.34bn in total assets, up by 8.57% year-on-year.
Anhui Conch Cement profit down by 45.6% in 2012 27 March 2013
China: Anhui Conch Cement, the biggest cement producer in Asia by output, has announced that its net profit fell by 45.6% to US$1.03bn in 2012 from US$1.87bn in 2011. The drop was attributed to a decline in the price of cement and a general slowdown in the growth of cement market demand in 2012.
Operating revenue for the company dropped by 6.41% year-on-year to US$7.25bn in 2012 from US$7.83bn in 2011. By market region, Anhui Conch's East China region saw sales fall by 15% in 2012 to US$2.58bn. Its Central China region fell by 19% to US$1.97bn. Its South China region fell by 2% to US$1.39bn, its West China region rose by 59% to US$1.08bn and exports rose by 40% to US$223m.
In 2012 the company sold 187Mt of clinker and cement in 2012, a year-on-year growth of 18.3%. The cement producer added 20.8Mt of clinker production capacity and 28.3Mt of cement production capacity in 2012. At the end of 2012, the group's clinker production capacity and cement production capacity amounted to 184Mt and 209Mt respectively, with a total residual heat electricity generating capacity of 881MW. During 2012 the group also began its first overseas investment project with the start of construction of PT Conch South Kalimantan Cement in Indonesia, with a clinker production line of 3200t/day.
For 2013 Anhui Conch expects 'excessive' production capacity and structural adjustment in the cement industry to continue. However demand will remain stable and government pressure to increase environmental regulations and encourage industry consolidation should benefit the group. The group expects to increase its clinker and cement production capacity by 15.4Mt and 22.5Mt respectively in 2013. For its three major risks for 2013 the group included a volatile construction industry, fuel costs and the risks of further government environmental regulation.
Central African Republic: 92 Indian nationals are reportedly trapped at a cement plant in Bangui, the capital city of Central African Republic (CAR), which is witnessing massive unrest.
"Most of those trapped in violence are labourers from India who have gone to CAR for employment. Those trapped in the cement factory need help to reach a safe location," said Sunil Dhairiyani, manager Waheguru Travels' Cameroon branch in an interview with the Times of India. Rebels known as Seleka have taken control of the national capital and media in the former French colony with a pledge to topple President Francois Bozize who has fled the country.
US$8m AfriSam Cement fraud case goes to court 27 March 2013
Namibia: The prosecutor general of Namibia has decided to prosecute Esmerelda Majiedt and five co-accused in the High Court for a scam which allegedly cost AfriSam Cement, the forerunner of the Ohorongo Cement factory, US$8m.
Majiedt is charged with corruption, with the state alleging that while she was employed at AfriSam Cement, she received payments in her personal capacity from customers of the company. During the hearing of a bail application by Majiedt in June 2011, it was alleged that suspect deliveries involving cement worth more than US$7.67m had been made to Afrisam customers without payments for such deliveries being reflected on the company's books. Majiedt claimed that other employees of the company knew her computer password and could have been responsible for the manipulation of Afrisam's accounting system.
Asia Cement China profits slammed by 71% in 2012 27 March 2013
China: Asia Cement Corp, one of Taiwan's leading cement suppliers, said that its subsidiary in China, Asia Cement (China) Holdings Corp, saw its net profit plunge year-on-year by 71% in 2012 to US$63.7m, due to an oversupply in China.
Asia Cement (China) posted a revenue of US$1.08bn in 2012, a year-on-year drop of 18.6%. Asia Cement blamed falling product prices in the Chinese market. Asia Cement (China) had a cement production of 24.9Mt in 2012 and its cement sales were 22.7Mt.
The China-based manufacturer sold 3.8Mt of cement in the Nanchang-Jiujiang district of Jiangxi Province, accounting for 31% of the district's total cement sales in 2012, while the company took a 27% share of the Wuhan market in Hubei Province, selling 5Mt in 2012. It accounted for 21% of the total cement sales in Chengdu, Sichuan Province and accounted for 30% of the cement market in Jiangsu Province's Yangzhou in 2012.
Asia Cement (China) said it aims to boost production capacity in its production line in Jianxi Province in an effort to boost its production to 30Mt/yr. In addition, the company said it will seek targets for acquisitions in a bid to further lift production to 50Mt/yr to rank among the top 10 cement suppliers in China.