Cement News tagged under: Egypt
South Valley Cement sees revenue fall in 9M2323 November 2023, Published under Cement NewsSouth Valley Cement Co has reported revenue of EGP592.5m (US$19.15m) in the first nine months of 2023, down from EGP614.09m in the same period a year earlier. Net losses after tax fell from EGP83.81m in the 9M22 to EGP63.10m in the 9M23, reports Zawya. The loss per share came in at EGP0.13 in the opening nine months of 2023, a YoY decrease from EGP0.17. Revenue in the third quarter of 2023 alone stood at EGP128.49m, down from EGP288.52m in the same period in 2022. Net profit after tax... |
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... |
Korea's white cement levy on Egypt begins20 November 2023, Published under Cement NewsSouth Korea’s anti-dumping duty on white Portland cement from Egypt has begun. The 72.23 per cent levy started on 15 November 2023 and will last for four months. The move is designed to protect Korea’s local industry from imports after Korean white cement producer Union filed a complaint to the Korea Trade Commission in March this year against Egypt’s Royal El Minya Cement and Albatros International Cement Trading. Union stated that cheap imports from Egypt were negatively affecting i... |
Egypt: controlling the variables06 November 2023, Published under Cement NewsEconomic headwinds are exerting pressure on Egyptian cement producers and end-users. The cement sector is now playing a game of controlling the variables having introduced a production quota system in 2021 that has helped companies return to profitability. However, the long-term sustainability of this strategy remains doubtful. By Abdelkhalek Mohammed, Prime Securities, Egypt. Over the past two decades Egypt’s cement industry has gone from boom to bust to recovery (© givaga) The... |
White cement anti-dumping duties issued in South Korea27 September 2023, Published under Cement NewsSouth Korea is to impose anti-dumping duties on white Portland cement imported from Egypt, said the industry ministry. Following a preliminary examination, the Korea Trade Commission (KTC) recommended the Ministry of Finance to levy provisional duties of 72.23 per cent on Egyptian white cement imports to protect the local cement industry while it carries out an additional probe. The probe came as domestic cement producer Union Corp filed a complaint in March against Egypt's Royal El M... |
Suez Cement rebrands as Heidelberg Materials11 September 2023, Published under Cement NewsSuez Cement Group of Companies (SCGC) has rebranded as Heidelberg Materials, reaffirming its vision to continue to lead the change in the sector towards sustainability and digitalisation, reports Mist News. “Today we merge the legacy of two iconic companies, with almost 100 years of local experience and 150 years of global experience from Heidelberg Materials, to lead the field in driving down carbon emissions, pioneering a circular economy in construction, unlocking new customer bene... |
South Valley Cement narrows loss in 1H2318 August 2023, Published under Cement NewsEgyptian cement producer South Valley Cement has announced sales of EGP464.01m (US$15.02m) in the first half of 2023, up from EGP326.11m in the same period a year earlier. The 1H23 saw the company post a net loss of EGP76.25m, down 35 per cent YoY from the EGP117.01m loss seen in the opening six months of 2022. South Valley Cement, part of Building Materials Industries Co , currently runs one cement plant, located in Beni Suef. |
Misr Cement (Qena) reports revenue advance in 1H2317 August 2023, Published under Cement NewsEgypt-based Misr Cement (Qena) Co has reported net sales of EGP1900m (US$61.49m) for the six months ended 30 June 2023, up from EGP1295m in the same period a year earlier. Net profit before income taxes for the 1H23 has come in at EGP86.37m, down from EGP101.46m in the opening six months of 2022, while operating income has advanced from EGP131.62m in the 1H22 to EGP172.98m in the same period the following year. The second quarter of 2023 saw net sales of EGP994.39m, an advance on the EGP... |
Sinai Cement cuts consolidated loss by 22% YoY in 1H2316 August 2023, Published under Cement NewsSinai Cement Co posted a 22.12 per cent YoY drop in consolidated net loss attributable to the holding company for the 1H23, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on 15 August. The company incurred a consolidated net loss excluding minority interest of EGP79.719m (US$2.58m) in 1H23, down from a net loss of EGP102.359m in 1H22. Net sales stood at EGP2.363bn in the period from 1 January until 30 June of this year, up from EGP1.025bn i... |
Qena Cement undergoes assessment for alternative fuel project31 July 2023, Published under Cement NewsAs part of Misr Cement Group’s commitment to its strategy to "positively impact on the environment”, the Qena cement plant has submitted an environmental impact assessment study for an alternative fuel project. The project is entitled “Using different types of hazardous and non-hazardous waste as an alternative fuel". The company aims to reduce its thermal energy use by harnessing alternative fuels as an energy source in cement kilns, and the safe disposal of hazardous and non-... |