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News Displaying items by tag: China National Building Materials

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BNBM’s income and profits grow in the first half of 2023

30 August 2023

China: Beijing New Building Materials (BNBM)’s operating income grew by 9% year-on-year to US$1.57bn in the first half of 2023, from US$1.44bn in the same period in 2022. Its net profit increased by 19% to US$251m from US$211m. The company said that it had a total gypsum wallboard production capacity of 3.4Bnm2/yr and that it was the world’s largest gypsum board group.

Parent company China National Building Material (CNBM) reported separately that its total sales of gypsum wallboard remained stable in the first half of 2023, at 1.09Bnm2. It said “The supply of gypsum board is stable, but affected by the weak operation of the real estate market. The demand is insufficient and the operation of the industry is under pressure.” It added that BNBM built four “nearly zero emission” gypsum board production lines in the reporting period.

Published in Global Gypsum News
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China National Building Material expects profit to halve in first nine months of 2022

11 October 2022

China: China National Building Material (CNBM) expects its profit to decline by 50% year-on-year in the first nine months of 2022. The group said that this will be due in part to reduced gypsum wallboard sales and a 'substantial' decline in the value of its financial assets.

Published in Global Gypsum News
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China National Building Materials’ gypsum wallboard sales volumes grow by 66% to 1.12Bnm2 in first half of 2021

06 September 2021

China: Sales revenue from China National Building Materials’ (CNBM) new materials business grew by 28% year-on-year to US$3.36bn in the first half of 2021 from US$2.63bn in the first half of 2020. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) from the segment, which includes gypsum producers BNBM and Taishan Gypsum, rose by 66% to US$873m from US527m. The gypsum wallboard producers reported a combined sales volume increase of 41% to 1.12Bnm2 from 0.79Bnm2. The group said that BNBM had also been working on the development of the first domestic automatic edge keel packaging machine for a ‘super large’ production line of gypsum wallboard with an output of 120Mm2/yr.

Overall across all business lines the group’s revenue grew by 14% to US$18.9bn from US$16.5bn in the same period in 2020. Adjusted EBITDA rose by 13% to US$3.98bn from US$3.51bn. Total revenue benefitted from particular gains from its New Materials and Engineering businesses.

Published in Global Gypsum News
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Taishan Gypsum proposes to pay additional US$248m on ongoing US defective wallboard case

01 August 2019

US: China National Building Material Company (CNBM) has proposed paying US$248m in one of its on-going legal cases related to alleged defective gypsum wallboard sold by Taishan Gypsum. This latest settlement agreement covers plaintiffs not previously covered by the Amorin Case, those in the Brooke Case and all other property owners with Chinese gypsum board alleged to be attributed to Taishan and connected partners. The settlement is dependent on all parties signing the agreement.

Published in Global Gypsum News
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CNBM gypsum wallboard sales rise slightly so far in 2018

28 August 2018

China: China National Building Material’s (CNBM) gypsum wallboard sales rose by 1.5% year-on-year to 866Mm2 in the first half of 2018 from 853Mm2 in the same period in 2017. Its wallboard production remained stable at 874Mm2. Average wallboard prices at both of its New Materials division subsidiaries also increased.

The group’s sales revenue from its New Materials division rose by 10.3% to US$1.66bn from US$1.5bn. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 30% to US$452m from US$346m. Overall, group sales revenue rose by 22% to US$14bn from US$11.5bn.

The company said that its BNBM subsidiary set up a company, Tanzanian Company Limited, in Tanzania and that BNBM refocused Wanjia Building Materials for the global market

CNBM’s subsidiaries that produce gypsum wallboard include BNBM and Taishan Gypsum.

Published in Global Gypsum News
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Taishan Gypsum reaches new settlement in US defective gypsum wallboard case

23 August 2018

US: Taishan Gypsum and its owner China National Building Material Company (CNBM) have reached a US$1.98m settlement in one of its on-going legal cases related to alleged defective gypsum wallboard. The Chinese manufacturer says that it has reached settlement with the plantiffs. The case is a third-party claim initiated by original claimants Venture Supply and Porter-Blaine. Following receipt of the payment the plantiffs have agreed to waive all liabilities with respect to Taishan Gypsum.

Published in Global Gypsum News
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China National Building Material starts gypsum wallboard plant project in Tanzania

26 March 2018

China/Tanzania: China National Building Material (CNBM) has started work on a gypsum wallboard plant in Tanzania. The project is part of its participation in the government’s ‘One bet, one road’ industrial strategy.

Revenue from the group’s new materials division that produces gypsum wallboard rose by 25% year-on-year in 2017 to US$2.03bn from US$1.62bn in 2016. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBTIDA) rose by 40% to US$577m from US$413m. Its production volumes of gypsum boards rose by 12% to 1826Mm2 from 1632Mm2.

Published in Global Gypsum News
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Taishan Gypsum settles in US defective gypsum wallboard litigation

23 June 2017

US: Taishan Gypsum and its owner China National Building Material Company (CNBM) say they have settled with Lennar Homes, LLC and US Home Corporation in one of its lawsuits about alleged defective gypsum wallboard. Fellow subsidiary Beijing New Building Material (BNBM) and Taishan Gypsum have agreed to pay the companies concerned US$0.5m and US$6m respectively in instalments by 31 July 2017. In return the plaintiffs have agreed to drop all claims and allegations within three days of receipt of the payment.

Published in Global Gypsum News
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China National Building Material Company gypsum wallboard sales pick up slowly in 2016

27 March 2017

China: China National Building Material Company's (CNDM) gypsum wallboard sales volumes rose by 13.1% year-on-year to 1.64Bnm2 in 2016. Sales revenue from the group's lightweight building materials section, that produces wallboard, rose by 8% to US$1.12bn in 2016 from US$1.03bn in 2015. The building materials producer said that improved marketing had helped it maintain its lead as the largest wallboard producer in China. The group runs BNBM and Taishan Gypsum.

Published in Global Gypsum News
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CNBM to buy stake in Taishan Gypsum via BNBM for US$661m

14 October 2015

China: China National Building Materials' (CNBM) 45.2%-owned subsidiary Beijing New Building Material Public Limited Company (BNBM) has agreed to acquire a 35% equity interest in Taishan Gypsum Company through a private issuance of 369 million BNBM shares to Taishan Gypsum minority shareholders at US$1.79/share for a total of US$661m.

Upon completion, BNBM will directly and indirectly hold the entire equity interest in Taishan Gypsum. Taishan Gypsum minority shareholders will hold 20.7% of the enlarged issued share capital of BNBM after the private issuance. The equity interest held by CNBM in BNBM will reduce from about 45.2% to 35.84%.

Upon completion of the transaction, Taishan Gypsum will be wholly-owned by BNBM, enabling CNBM to further integrate its internal resources, allowing BNBM to improve its operating results and further consolidate the group's market position.

Published in Global Gypsum News
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