Marketresearch.biz notes that the surge in demand for affordable housing is fueling market growth in the residential construction sector. Significant housing activities reported in various regions, such as the United States and the ASEAN countries, underscore the sector's potential, with substantial growth rates exceeding global averages.New York, Feb. 21, 2024 (GLOBE NEWSWIRE) The Cement Market, valued at USD 410.2 billion in 2023 and set to reach USD 641.9 billion by 2033 with a 4.7% CAGR,
CNBM profit to fall 65% in 2023 cemnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cemnet.com Daily Mail and Mail on Sunday newspapers.
CNBM begins restructuring cement business 05 March 2021
China National Building Materials (CNBM) has begun restructuring its cement business and has subsequently sold China United Cement, Sinoma Cement, as well as a 99.9 per cent stake in South Cement and a 95.7 per cent stake in Southwest Cement, to its Xinjiang Tianshan Cement subsidiary for a total consideration of CNY88.25bn (US$13.64bn).
Tianshan Cement will issue 442,343,026 consideration shares for the amount, alongside a cash consideration of CNY3.97bn. CNBM will have an 87.5 per cent stake in Tianshan Cement after the merger, up from 45.9 per cent previously.
Tianshan is expected to raise CNY5bn from up to 35 investors, including from CNBM, through private placement. The proceeds will mostly be used for the CNY4bn cash provision and to replenish working capital and pay off debts.