Cement News tagged under: Suez Cement Co
Egypt's National Cement Co goes into liquidation12 September 2018, Published under Cement NewsEgypt's Ministry of Public Sector has announced that the National Cement Co (NCC) has fallen into liquidation. NCC's kiln lines had been shutdown since 31 May 2018. Minister Hisham Tawfik announced that the company had lost EGP900bn (US$50bn) in the past year. The factory is also heavily in debt, owing EGP4.4bn to the Egyptian Natural Gas Holding Co and EGP700m to the Egyptian Electricity Co. In the most recent financial year, the company's losses were the highest among all pu... |
Helwan Cement to sell white cement plant11 September 2018, Published under Cement NewsEgypt’s Suez Cement has announced that its subsidiary, Helwan Cement Co, has entered into an agreement with Emaar Industries to sell its 1Mta white cement plant in Minya Governorate. The transaction is expected to take place after the facility is de-merged from Helwan Cement. The sale is part of the company’s restructuring strategy to improve its financial position. |
Suez Cement reports net profits of EGP250m in 1H1813 August 2018, Published under Cement NewsSuez Cement reported EGP250.59m (US$14m) in net profits for the six-month period ended June, against a loss of EGP40.61m in the year-ago period, according to a filing to the Egyptian Exchange (EGX). Sales amounted to EGP 3.96bn at the end of June, versus EGP 3.11bn in 1H17. Profits climbed to around EGP 156.62m in 1H18, up from EGP20.81m in the same period a year earlier. Suez Cement previously reported an EGP128.15m in profits for the three-month period ended March, versus EGP41.53m in th... |
Egypt: mixed 9M16 results for Suez and Tourah24 October 2016, Published under Cement NewsSuez Cement reported a net profit of EGP49.6m (US$5.59m) for the first nine months of 2016. For the third quarter the company saw losses of EGP-66.9m, an increase from EGP-63.3m the previous year. Tourah Cement improved its net loss by 50.4 per cent from EGP-107.203 in 9M15 to EGP-53.149m in Jan-Sep 2016, according to a bourse filing. In the third quarter the company reported a 43 per cent fall in net loss to EGP21.3m, compared with EGP37.4m in 3Q15. |
Egypt: Suez Cement 1H16 sales up 6%22 July 2016, Published under Cement NewsSuez Cement Group of Companies (SCGC) 1H16 results showed that growth slowed in 2Q16, due to lower demand during the holy month of Ramadan and June. However, overall, the domestic cement industry grew 7.6 per cent in 1H16 versus 1H15. Cement prices continued to improve, following 1Q16 trends to jump four per cent during April, May and June. That being said, prices were still three per cent lower between Jan-Jun 2016 compared to 1H15. Group sales volumes increased six per cent across t... |
Suez Cement says profit transfers hit by foreign currency crisis in Egypt09 March 2016, Published under Cement NewsSuez Cement is struggling to transfer shareholder profits out of Egypt because of a foreign currency crisis, Reuters reports. Egypt has been struggling to revive its economy since the uprising in 2011 that drove major sources of foreign currency such as foreign investors and tourists away. Pressure for a devaluation of the pound has been building but the central bank has kept it fixed at 7.7301 pounds per dollar. The bank has been trying to conserve hard currency by prioritising its use fo... |
Suez Cement results impacted by lower selling prices, higher energy costs12 February 2016, Published under Cement NewsSuez Cement Co, part of the Italcementi group, reported an 8.3 per cent drop in consolidated revenues for 2015 to EGP5.64bn (US$720m) from EGP6.15bn a year earlier. It recorded a net loss after non-controlling interest of EGP60m, from a prior-year profit of EGP50m. The company said that in the 4Q15, despite the strong demand and a balanced supply and demand situation, selling prices did not keep pace and further declined about three per cent from the prior quarter, cumulating in a 15 per c... |
Suez Cement to convert Helwan and Torah plants to use coal and RDF02 February 2016, Published under Cement NewsSuez Cement is aiming to convert Torah and Helwan plants to use coal and RDF in addition to the already-used HFO following the conversion of Kattameya and Suez plants in 2015. According to the management, the company would start the conversion operation in February and July for Helwan and Torah plants, respectively. This conversion operation is expected to take 12-18 months and would result in the usage of coal for 70 per cent of the energy for both plants. Helwan Cement would use RDF 20... |
Fives facilitates Suez Cement's fuel substitution strategy06 August 2015, Published under Cement NewsIn the framework of a firing conversion to coal and petcoke, Fives will deliver a new FCB TSV™ classifier to to Egypt-based producer Suez Cement Co for the modernisation of a vertical ball mill and the optimisation of solid fuel grinding plant operations. Through the installation of its high efficiency third-generation classifier, Fives will enable Suez Cement to increase grinding plant capacity by 17 per cent and consequently increase its fuel substitution rate. The contract includes the... |
New contract for Boldrocchi Ecologia in Egypt17 April 2015, Published under Cement NewsBoldrocchi Ecologia has signed a new contract with Tourah Portland Cement, a subsidiary of Suez Cement Group of Companies (SCGC), for revamping of the whole Line #9 de-dusting units at the Tourah plant in Cairo. The turnkey contract includes new kiln and raw mill bag filters, bypass bag filter, clinker cooler heat exchanger and bag filter with new exhaust fans. Installation, commissioning and start-up is expected to take place during the August 2016 kiln shutdown. Boldrocchi has also ... |