West China Cement
West China Cement is a producer and distributor of cement.
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West China Cement fires 3rd kiln and sees capacity reached in Q2
West China Cement Ltd (WCC) said it successfully fired the Ankang kiln on December 28 2008. Production of cement is expected to start shortly and is expected to reach design capacity by the end of the second quarter of this year.
Ankang is the company’s third production centre, after Pucheng and Lantian, and is located
in the southern Shaanxi province. The firing of the kiln is the first step in commissioning the plant and production of marketable clinker has now commenced.
At full capacity, Ankang will bring WCC's total annual cement production capacity to 5.3 million tonnes from the current 3.5 million.
Despite the gloomy conditions worldwide, WCC said it achieved sales in 2008 in excess of 3 million tonnes of cement, up from 2.39 million, with revenue in excess of RMB800 million compared with RMB526 million previously. As a result, WCC expects 2008 results to be in above market expectations. Net profit is expected to be at least RMB240 million.
Prospects for 2009 remain positive, the company said, adding the Chinese government is determined to increase infrastructure investment and to accelerate the development of western China.
Chief executive Zhang Jimin said: "The trends we noted in our results for the first half of 2008 have been maintained over the second half of the year, with strong sales and increased margins, as we have succeeded in passing on the cost pressures which hit us in the first half of the year.
"We enter 2009 with a slow start, as usual, reflecting the winter period and the Chinese New Year. However we expect demand to pick up in the second quarter. We are confident that we can produce and sell over 4.5 million tonnes in 2009 at an average selling price that remains at least in line with 2008,” he added.
Other West China Cement news
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2010-08-21 - West China Cement acquires Xiushan Cement for RMB 180 million
2010-01-06 - Two major contract wins for West China Cement
2009-06-10 - West China Cement announce record sales and approval for two new plants in earthquake reconstruction area
2009-04-01
