Economy & Market

China's Sinoma launches 500 m yuan finance JV

Published

14 years ago

September 30, 2011

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The world’s largest cement equipment maker, China National Materials Co Ltd (Sinoma), together with its state-owned parent, is setting up a financing vehicle that will enable it to provide deposit-taking and loan services to other group companies. Sinoma said late on Tuesday it had agreed to establish Sinoma Finance, with a registered capital of 500 million yuan ($78 million), which will be 30 percent owned by the listed company and 70 percent by the parent. "The use of Sinoma Finance as a vehicle would allow for more efficient deployment of funds between members of the group," Sinoma said in a statement to the Hong Kong stock exchange. It added that benefits would also include greater utilisation of available funds to repay external commercial loans. In August Sinoma said it was in talks in Europe and the United States for acquisitions of 1 billion to 10 billion yuan ($154 million to $1.5 billion) each after it posted a 71 percent rise in first-half earnings. Sinoma has been enjoying booming sales amid China’s construction boom, resulting in hefty cash inflows that are helping it build a war chest for overseas acquisitions.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/