Cement News tagged under: ASEC Cement
Qalaa Holdings first-half revenues up by a third, Egypt23 September 2015, Published under Cement NewsQalaa Holdings (formerly Citadel Capital) released its consolidated financial results for the quarter ending 30 June 2015, reporting revenues of EGP2086.8m, up 33.7 per cent compared to the same quarter of last year. In the second quarter alone, the energy and cement divisions contributed some 70 per cent of total revenues. On a six months basis, revenues climbed 37.8 per cent YoY in 1H15 to EGP4,034.3m. EBITDA meanwhile stood at EGP565.1m in the first half of 2015, a 169 per cent increa... |
Qalaa Holdings to boost output of Al Takamol plant, Sudan29 June 2015, Published under Cement NewsEgyptian-based Qalaa Holdings is to boost output of the Al Takamol cement plant in Sudan to 800,000t in 2016. Abdalla ElEbiary, MD of Qalaa, said last week that it plans to enhance production by establishing a new coal mine for the plant within the coming year, according to reports by Zawaya news. Al Takamol Cement’s 1.6Mta works at Atbara, 300km north of Khartoum, is a subsidiary of Qalaa Holdings via a 51 per cent holding by ASEC, and with 49 per cent held by the Sudanese National Pen... |
Qalaa Holdings to focus on core subsidiaries, including cement26 June 2015, Published under Cement NewsQalaa Holdings has signed a set of agreements with Financial Holdings International (FHI), one of Qalaa’s major co-investors, through which Qalaa will acquire from FHI additional stakes in subsidiaries that are core to Qalaa’s future as a holding company. These include stakes in companies involved in the energy, cement and transportation sectors, among others. Simultaneously, Qalaa will sell to FHI its holdings in the following non-core business units: MENA Homes, Grandview and Dina ... |
Qalaa Holdings topline growth boosted by ASEC Cement's Sudan subsidiary15 June 2015, Published under Cement NewsQalaa Holding reported a 43 per cent rise in revenue for the three months to the end of March 2015 to EGP1947.5m and an eight-fold surge in EBITDA growth to EGP275.8m. The company said topline growth was driven mainly by operational improvements at subsidiary ASEC Cement’s Al-Takamol works in Sudan, which recorded revenue growth of 157 per cent or an EGP131.7m increase over 1Q14. Furthermore, Qalaa’s core platform company TAQA Arabia also saw revnues increase by 57 per cent to EGP526.5m i... |
ASEC in talks to sell Zahana stake, Algeria21 March 2014, Published under Cement NewsASEC Cement, a subsidiary of Citadel Capital, is looking to divest its minority stake in Zahana Cement Company of Algeria. In a statement released yesterday, Citadel Capital said that Yahia Bachir, director General of Ciments Algerie (GICA) – the Algerian holding company that controls all public-sector entities operating in the building materials sector – has publicly stated that the Algerian state is studying “buying out its Egyptian partner in a cement plant project.” Citadel Capital ha... |
ASEC Minya Cement launches sulphate resistant cement18 February 2014, Published under Cement NewsASEC Minya Cement has launched its sulphate resistant cement (SRC) entitled ‘ASEC Al Mokawm.' The SRC type protects concrete from the effects of sulphate salts which are usually found in surrounding environments such as agricultural soil. Use of the cement also results in a reduction of water permeability in the finished concrete product, and thereby a decrease in cracks. Amr Gemeyie, commercial director, said: “The company has launched ASEC Al Mokawm cement to reflect its ability to ... |
ASEC Minya launches clinker production at 2Mta plant, Egypt30 May 2013, Published under Cement NewsCitadel Capital announced that ASEC Minya (formerly the Arab National Cement Company), a key subsidiary of portfolio company ASEC Cement, has started the production of clinker at its 2Mta cement plant in Minya. Cement production is expected to commence within one month. Located 200km south of Cairo and 50km north of the city of Minya, ASEC Minya is the second greenfield cement plant to be launched by ASEC Cement in five years. The first was Takamol Cement in Sudan, a 1.6Mta plant that bega... |
ASEC signs training programme initiative with Minya University, Egypt01 April 2013, Published under Cement NewsASEC Minya and ASEC Ready Mix, two subsidiaries of ASEC Cement have signed a memorandum of understanding (MoU) with Minya University to help prepare students with the skills they need to seek meaningful employment in their fields. The Governor of Minya, D. Mostafa Eissa, Minya University President, Dr Mohammed Sherif and ASEC Cement Chairman and CEO Giorgio Bodo were in attendance at the signing ceremony. The MoU, the first of its kind in the governorate of Minya, aims to promote the... |
ASEC Cement completes Zahana overhaul in Algeria25 May 2012, Published under Cement NewsCitadel Capital announced today that a key subsidiary of portfolio company ASEC Cement has completed a significant overhaul. “Zahana Cement Company, our key Algerian subsidiary, has just concluded the largest overhaul in the plant’s long history,” noted ASEC Cement CEO Giorgio Bodo. “This substantial intervention will lead to a 20% year-on-year increase in the production of both clinker and cement. Moreover, the deployment of new bag filters as part of the upgrade has dramatically lessened... |