Net profit declines for Asia Cement (China) Holdings Corp.

Taiwan’s Asia Cement Corp. has released the 2012 results of its China-based subsidiary, Asia Cement (China) Holdings Corp. According to Focus Taiwan, the subsidiary’s net profit fell 70.53% y/y to US$63.71 million, while revenues dropped by 18.55% y/y. These declines have been attributed to oversupply and falling product prices in the country. Cement production for the year came in at 24.85 million t and sales reached 22.71 million t. The cement producer accounted for 21% of cement sales in Chengdu, Sichuan Province and 30% in Jiangsu Province. It sold 5 million t in the Wuhan cement market in Hubei Province, representing a market share of 27%. Asia Cement (China) Holdings Corp. sold 3.8 million t of cement in the Nanchang-Jiujiang district of Jiangxi Province, a 31% market share. The firm has expressed interest in expanding its production capacity in Jiangxi Province in order to increase it capacity to 30 million tpa. It is also looking for potential acquisitions that could bring its total production capacity even higher, to around 50 million tpa.

Edited from various sources by Louise Fordham.

Read the article online at: https://www.worldcement.com/asia-pacific-rim/25032013/asia_cement_china_2012_financial_results_930/