Cement News tagged under: Arabian Cement
Redecam wins ESP to baghouse conversion project17 January 2024, Published under Cement NewsArabian Cement Co is converting its electrostatic precipitators to state-of-the-art bag filters for dust emissions control. The Egyptian cement producer has joined forces with Redecam Group SpA to achieve dust emission levels below 5mg/Nm 3. ACC is collaborating with the Egyptian Environmental Pollution Abatement Program (EPAP), furthering its commitment to sustainability. This initiative goes beyond mere compliance with dust emissions standards to actively reduce emissions. |
Saudi producers warn of rising production costs05 January 2024, Published under Cement NewsCement producers in Saudi Arabia have received a notification from Saudi Arabian Oil Co (Saudi Aramco) that the price of fuel products used in cement production will be increasing in price, effective from 1 January 2024. Arabian Cement Co , Yamama Cement Co , Qassim Cement Co and Al-Jouf Cement Co are among the cement manufacturers who have warned customers that this adjustment “will impact production costs and efforts are currently underway to calculate the expected financial impa... |
Arabian Cement announces management changes04 January 2024, Published under Cement NewsArabian Cement Company has announced three management changes. Mutaz Kusai Hassan AlAzzawi has been appointed chairman of the board of directors (non-executive), Saud Abdulaziz Abdullah Al-Sulaiman has become vice chairman (non-executive), while Hani Mohamed Lehji is the new secretary of the board. The appointments were made at the company’s Ordinary General Assembly Meeting on 17 December 2023. |
EBRD and A³&Co support Arabian Cement on net zero journey21 November 2023, Published under Cement NewsThe European Bank for Reconstruction and Development (EBRD) and consulting firm A³&Co ® have joined forces to support Egypt’s Arabian Cement Co in its transition to net zero. According to Zawya, the collaboration aims to develop a decarbonisation roadmap for the cement producer that not only reduces carbon emissions but also lowers costs by accelerating the production of low carbon cement, leveraging A³&Co’s expertise in green cement solutions, and maximising EBRD’s commitment to green in... |
Saudi cement companies fined for price manipulation14 April 2023, Published under Cement NewsSaudi Arabia’s General Authority for Competition (GAC) has fined 14 cement companies a total of SAR140m (US$37.33m) for price manipulation activities. Each company has been found guilty of trying to manipulate Saudi’s cement market with price increases, resulting in a SAR10m fine each. According to the Saudi Gazette, the GAC received numerous complaints that several cement producers were collaborating to raise cement prices and share the local market between themselves. After collecti... |
Arabian Cement posts 12% rise in profits in 202228 February 2023, Published under Cement NewsSaudi-Arabia-based Arabian Cement has reported net profits after zakat and tax of SAR181m (US$48.3m) in 2022, representing a YoY increase of 12.1 per cent from SAR161.5m. The company saw a six per cent decline in revenues to SAR970.9m in 2022, up from SAR1.03bn in 2021. Earnings per share grew to SAR1.81 from SAR1.62 in 2021. |
Arabian Cement back in profit in 9M2218 November 2022, Published under Cement NewsEgypt’s Arabian Cement Company has reported revenue of EGP3333.9m (US$135.9m) in the first nine months of 2022, up from EGP1568.1m in the same period a year earlier. Profit after tax in the 9M22 came in at EGP244.7m, compared to a loss of EGP24.5m in the first nine months of 2021. Earnings per share over the same period advanced from -EGP0.08 to EGP0.63. Domestic sales accounted for EGP2597.9m of total revenue in the 9M22, with exports (EGP575.9m) and services (EGP160.1m) making up the... |
Arabian Cement revenue up 8% in 3Q2231 October 2022, Published under Cement NewsArabian Cement has recorded an eight per cent increase in revenue to SAR241m (US$64.2m) in the third quarter of 2022, compared to the same period a year earlier. Profit over the same timeframe has advanced by 57 per cent to SAR59m. Results for the opening nine months of 2022 show a six per cent YoY uptick in profit, despite sales declining by six per cent. Profits for the nine-month period came in at SAR146m, versus SAR138m in the 9M21, according to Arab News. The rise in profits is be... |
Private investor ups stake in Arabian Cement14 September 2022, Published under Cement NewsPrivate investor Sadiq Ahmed Sadiq El Sewedy has increased its share in Egypt-based Arabian Cement Company (ACC) from 9.5 per cent to 11 per cent at a cost of US$1.6m. The deal was handled by Al Ahly Pharos and EFG Hermes Holding. The opening six months of 2022 saw ACC post revenue of EGP2.129bn (US$111.2m), significantly up from EGP964.9m in the same period a year earlier. Consolidated profit surged from a net loss of EGP23.28m to a profit of EGP119.49m over the same period. . |
Arabian Cement sees revenue and profit surge in 1H2216 August 2022, Published under Cement NewsArabian Cement has reported revenue of EGP2.129bn (US$111.2m) in the first half of 2022, significantly up from the EGP964.9m seen in the same period a year earlier. Consolidated profit also surged, improving from a net loss of EGP23.28m in the 1H21 to a profit of EGP119.49m in the opening six months of this year, according to Mist News. |