Cement News tagged under: Middle East
UltraTech Cement to acquire majority share in Duqm Cement Project31 January 2023, Published under Cement NewsUltraTech Cement Middle East Investments Ltd, (UCMEIL) a wholly owned subsidiary of the company in UAE, has released a statement signifying that it has entered into a share sale and purchase agreement with Seven Seas Company LLC, Oman, for acquisition of 70 per cent equity shares in Duqm Cement Project International, LLC, Oman. |
CEMEX buys 51% share of Israeli recycling company31 January 2023, Published under Cement NewsCEMEX has announced that it has acquired a 51 per cent stake in Israel-based SHTANG Recycle LTD, a construction, demolition, and excavation waste (CDEW) recycling company. The acquisition aligns with CEMEX’s strategy to strengthen its business in developed markets through bolt-on acquisitions in businesses with strong circular and sustainable attributes. The acquisition will form part of Regenera, CEMEX’s recently-launched business that provides circularity solutions, including recep... |
Tabuk Cement appoint a new chairman and vice-chairman27 January 2023, Published under Cement NewsTabuk Cement ’s board of directors have appointed Yazid bin Khalid Al-Shathri as chairman, and Tareq Alangari as vice-chairman, according to a statement to Tadawul. Amal Redaa was also appointed as board secretary. The board approved the formation of the executive committee, which comprises Yazid Al-Shathri (non-executive) as chairman, as well as Abdul Aziz Al-Khamis (independent), CEO Ali Al-Qahtani (executive) and Mohsen Al-Fahadi (independent) as members. The nominations an... |
IKN commissions Southern Province Cement cooler25 January 2023, Published under Cement NewsIKN has successful commissioned the new Southern Province Cement Co Bisha line 1 clinker cooler in Saudi Arabia. This is the conclusion of a very challenging project that started with the preassembly of the IKN equipment, directly followed by the shutdown, whereby the existing cooler was demolished and replaced by the latest generation IKN cooler. The excellent collaboration between Sweden Industrial Services and IKN was key in bringing this endeavour to a successful close, workin... |
Bullish 4Q22 results expected for Saudi Arabian producers19 January 2023, Published under Cement NewsTwelve Saudi Arabian cement companies' aggregate profit listed on Tadawul are expected to surge 101 per cent YoY and 20 per cent QoQ to SAR617m (US$164.5m) in the 4Q22, according to a local research house. Argaam sees bullish forecasts for most Saudi Arabian cement producers in the 4Q22 compared to the year-earlier period. Tabuk Cement Co , Yamama Cement Co , Yanbu Cement Co , City Cement Co and Arabian Cement Co are expected to post the biggest rise in the fourth-quarter profit. ... |
Saudi cement demand to remain flat in 202310 January 2023, Published under Cement NewsCement demand in Saudi Arabia is forecast to remain flat in 2023 before expanding by five per cent YoY in 2024, according to a report by SICO Bank. Cement demand fell by 1.8 per cent YoY in November 2022, despite the previous month being the strongest October since 2015. For the whole of 2022, SICO predicts demand to have declined by one per cent YoY. Looking ahead, 2024 growth is expected to be driven by a boom in construction activity on the back of developments in the tourism sector an... |
Iranian cement production expands 6% in 9M2202 January 2023, Published under Cement NewsCement production in Iran increased 5.7 per cent YoY in the first nine months of the current Iranian calendar year (21 March-21 December 2022), according to data released by the Industry, Mining and Trade Ministry. Total output during the nine-month period reached 33.943Mt, up from 32.109Mt in the equivalent period of the previous year. In 2021 the country produced 63Mt of cement, of which it exported 14.4Mt. |
Iran’s cement market expands 3% in November15 December 2022, Published under Cement NewsIranian cement consumption increased by 2.9 per cent to 5,514,796t in November 2022 when compared with the year-ago level of 5.36Mt, according to the Iran Cement Association. Domestic clinker and cement production reached 6,642,108t and 5,736,653t, respectively. This represents a one per cent YoY increase from 6.57Mt of clinker and a 7.2 per cent advance from 5.35Mt of cement in November 2021. Iran’s cement producers exported 1,207,943t of clinker (+ 24.5 per cent YoY from 0.97Mt) and 45... |
Yanbu Cement pays out US$31m in dividends12 December 2022, Published under Cement NewsYanbu Cement Company is to pay out cash dividends worth SAR118.12m (US$31.49m) to shareholders in the second half of 2022. This represents 7.5 per cent of capital. According to the bourse disclosure, the Saudi Arabia-based company will disburse SAR0.75 per share for 157.5m eligible shares. The cement producer reported a 4.38 per cent YoY advance in net profit after zakat and tax to SAR156.24m in the opening nine months of 2022. Revenues slipped 0.13 per cent to SAR741.9m, while earning... |
Saudi cement sales rise 5% in November08 December 2022, Published under Cement NewsThe aggregate sales of 17 Saudi cement producers rose one per cent YoY to 4.8Mt in November 2022, according to Yamama Cement Co ’s data. Locally, nine market players reported sales growth, led by United Cement Co with 110 per cent YoY, followed by Northern Region Cement Co with 54 per cent YoY. Eight cement producers reported lower sales, including Umm Al-Qura Cement Co with a fall of 46 per cent YoY. Al Jouf Cement Co had the next largest drop in sales at 22 per cent YoY. Seven... |