Cement News tagged under: Arabian Cement Co

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Arabian Cement postpones Rabigh grinding operation

12 October 2017, Published under Cement News

Arabian Cement Co expects the commercial operation of the grinding unit at its Rabigh plant, Saudi Arabia, to start in the 3Q18, instead of the earlier-announced 4Q17. Construction on the project is still ongoing and according to a statement to the Saudi Stock Exchange, the delay is attributed to the contractor who does not commit to the scheduled deadline. The financial impact of the new facility is difficult to determine as it depends on supply and demand in the cement market, said the ...

Arabian Cement wins energy management award

16 June 2017, Published under Cement News

Egypt-based Arabian Cement Company (ACC) has been honoured with the ‘2017 Award of Excellence in Energy Management’ by Clean Energy Ministerial (CEM8), a high-level global forum that promotes policies and programmes to advance clean energy. CEM8 energy ministers presented the award to Mahmoud Mohsen, director of the energy department at ACC, at the annual CEM meeting in Beijing, China, earlier this month. The Award of Excellence in Energy Management recognises efforts by organisations...

Arabian Cement to start Rabigh grinding unit operations in 4Q17

22 November 2016, Published under Cement News

Arabian Cement Co reported construction at its Rabigh grinding facility is ongoing. However, in a bourse filing the company said it expected commercial operations at the unit to start in 4Q17.

China National Building Material Co Ltd (CNBM)

29 April 2015, Published under Cement News

Arabian Cement Company has appointed CNBM to supply and install two new mills at its cement plant in Rabigh. The contract, which includes all engineering, construction and electrical and mechanical works is reportedly worth US$96.5m. The project is expected to complete in 13 months. In Saudi Arabia, CNBM has already completed first and second line projects for Northern Region Cement Company and is currently undertaking a turnkey project to Southern Province Cement to include a 5000tpd cli...

Arabian Cement Co recommends SAR3.25 cash dividend

06 January 2015, Published under Cement News

The management board of Arabian Cement Co (ACC) has recommended to shareholders a cash dividend of SAR3.25 (US$0.866) per share for the first half of 2014. The dividend translates into a total payout of SAR325m (US$133.5m). If approved, the dividend will be paid to shareholders registered at the close of business on 30 June. In mid-October 2014, ACC said its net profit rose 67.6 per cent YoY to SAR500.9m (US$133.4m) for the first nine months of last year.

Arabian Cement second-quarter exceeds analysts’ forecasts

21 July 2014, Published under Cement News

Saudi-based Arabian Cement reported a 60.2 per cent rise in second-quarter net profit to SAR199.8m (US$53.3m), beating analysts' forecasts. Al-Rajhi Capital noted that while most cement companies reported weak sales volumes this quarter, Arabian Cement bucked the trend and reported strong sales dispatches (+44 per cent YoY) as the company was relatively unaffected by the broader sector issues. Arabian Cement's performance to the three months to the end of June 2014 beat Al-Rahji Capita...

Egypt: Arabian Cement Co IPO over-subscribed

15 May 2014, Published under Cement News

Egypt's Arabian Cement Company's initial public share offer was 18.5 times oversubscribed, an official at advising bank CI Capital told Reuters on Tuesday. The offer raised US$110m with 85.2 million shares sold in the offer, placed at 9 Egyptian pounds ($1.28) per share, said Hesham Gohar, managing director for investment banking at CI Capital, which was co-bookrunner on the offer alongside EFG-Hermes. Arabian Cement said on Sunday it had set the price for its IPO at 9 Egyptian pounds a sh...

ACC to construct new kiln line, Saudi Arabia

22 February 2014, Published under Cement News

The managing board of Arabian Cement Co has agreed to boost production at the company’s Rabigh plant in Saudi Arabia by constructing a new kiln line. The new kiln will add capacity of 10,000tpd and is expected to start operations in mid-2017. (Source: SeeNews Middle East & Africa).

Qatrana Cement workers strike on pay dispute

25 June 2012, Published under Cement News

Qatrana Cement Company, a subsidiary of Arabian Cement Co (ARRCO) was forced to halt cement production as employees at the factory held a strike over a pay dispute and closed an access road leading to the works. According to reports in Construction Week, industrial action lasted for eight day after the ministry of labour interceded to negotiate between workers and factory management. Workers had erected a Bedouin tent across the main gates of the cement plant and demanded an end to ‘lo...