ACC reports full-year loss, Saudi Arabia

ACC reports full-year loss, Saudi Arabia
21 January 2014

Saudi producer Arabian Cement Company (ACC) reported SAR190m (US$50.7m) in net earnings in FY13, a 50.96 per cent decline compared with SAR387.4 min FY12.

In the fourth quarter of 2013, ACC reported a loss of SAR108.7m against a loss of SAR82.3m in the corresponding period of the previous year.

ACC is the the fifth-largest producer in Saudi Arabia with a capacity of 3.84Mta. The company had planned to add a new 7000tpd line (2.3Mta) to increase its existing capacity by 41 per cent. However, the project is now on hold as the company has not been able to secure fuel supplies from Saudi Aramco.

Published under Cement News