Cement News tagged under: UAE
Sharjah Cement sees 25% decline in revenue16 November 2020, Published under Cement NewsUAE-based Sharjah Cement has posted a net loss of AED47.9m (US$12.9m) in the first nine months of 2020, compared to a profit of AED2.8m in the corresponding period of last year. Revenues declined 25.3 per cent YoY to AED325.22m from AED435.45m in the 9M19. In the third quarter of 2020 net losses reached AED22.7m from an AED240,000 profit in the year-ago period. |
Arkan posts net loss in 9M2013 November 2020, Published under Cement NewsUAE-based Arkan Building Materials Co has recorded a net loss of AED3.71m (US$1.01m) in the first nine months of 2020, compared to an AED36.13m profit in the corresponding period of last year. The company’s revenues fell 14 per cent YoY to AED581.02m from AED675.5m in the 9M19. The lower revenues were attributed to a decrease in cement sales volumes and falling prices due to the impact of COVID-19. "Whilst this unprecedented time has tested the resilience of many organisations, I am proud... |
Gulf Cement Co sees net loss widen in the 9M2005 November 2020, Published under Cement NewsUAE-based Gulf Cement Co has recorded a net loss of AED268.13m (US$73.01m) for the first nine months of 2020, widening from an AED3.86m loss in the year-ago period. The company's revenues fell 24 per cent YoY to AED259.48m in the 9M20, compared with AED341.01m in the corresponding period of last year. Meanwhile, the company has incurred accumulated losses of AED413.22m, representing over 50 per cent of the issued share capital, according to a financial statement. "Due to the slowdown i... |
Only certified cement bags are authorised for sale in Abu Dhabi21 October 2020, Published under Cement NewsThe Abu Dhabi Department of Economic Development (ADDED) on Tuesday issued a circular which prohibits building material shops from selling any cement that does not have federal or local certifications. Unless bagged cement in Abu Dhabi has the quality marks issued by the Emirates Authority for Standardisation and Metrology and the Abu Dhabi Quality and Conformity Council they can no longer be sold in the emirate. The circular, which will be implemented in coordination with ADDED's stra... |
Emirates RDF set to begin production28 September 2020, Published under Cement NewsEmirates RDF, a partnership between leading water treatment expert Besi, Griffin Refineries and Tech Group Eco, has announced that it is set to start the production of alternative fuel at its facility in Umm Al Quwain, UAE. The household waste collected will be converted into RDF and used as a fuel in cement factories. Once operational from 1 October, Emirates RDF will able to handle over 1000t of waste from the emirates of Ajman and Umm Al Quwain. |
Gulf Cement receives approval to withdraw from Boursa Kuwait14 September 2020, Published under Cement NewsUAE-based Gulf Cement Co, once dually listed on Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), has obtained approval from Kuwait’s Capital Markets Authority to withdraw from the former. The last day for the trading of the company's shares on Boursa Kuwait will be on Monday, 14 December 2020, according to the company's disclosure to the ADX. |
Abdelaziz Assad named acting CEO Arkan Building Materials02 September 2020, Published under Cement NewsUAE-based Arkan Building Materials has appointed Abdelaziz Asad as acting CEO following the departure of Abdellatif Sfaxi to pursue other career opportunities. Under the new arrangement, Mr Sfaxi will continue to work closely with Mr Asad for the next three months to ensure a smooth transition. Arkan Chairman, Engineer Jamal Salem Al Dhaheri, said: "On behalf of Arkan’s board, I would like to thank Sfaxi for his 12 years of service to the company. During his tenure as CEO he has reinforced... |
Arkan Building Materials sees profits decline to AED2.1m in 1H2011 August 2020, Published under Cement NewsArkan Building Materials reported 1H20 profits declining to AED2.1m (US$571,818) as construction activity became disrupted in UAE due to the pandemic. Last year the company reported profits in 1H19 of AED 33.7m, boosted by the sale of Emirates Cement Factory. Revenue this year has reached AED387.4m, down from AED458.8m last year. Cement revenues fell to AED196.5m from AED282.7m last year, while cement-led profit amounted to AED7.91m, down from AED45.69m. Concrete block and dry mortar revenu... |
New waste treatment plant to supply RDF in UAE14 July 2020, Published under Cement NewsThe construction of a solid waste treatment plant in Umm Al Qaiwain, UAE, is nearing completion. One operational, the facility will process waste from the nearby region and supply RDF to cement plants. The AED132m (US$36m) unit is expected to process 1500t of waste every day to produce 300,000tpa of alternative fuel, according to Dr Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment. The plant is expected to begin operations in the final quarter of 2020. |
Sharjah Cement reports net loss in 1Q2009 June 2020, Published under Cement NewsUAE-based Sharjah Cement has reported a net loss of AED9.3m (US$2.5m) in the first quarter of 2020, compared to an AED802,000 net profit in the corresponding period of last year. The company’s consolidated revenue also fell 16.3 per cent YoY to AED128.16m from AED153.1m in the 1Q19. |