Cement News tagged under: Egypt

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Sinai 1Q17 loss widens

31 May 2017, Published under Cement News

Sinai Cement reported an increase in losses by 55 per cent YoY during the first quarter of 2017, due to the rise of financing and administrative costs. The company said in a statement to the Egyptian Exchange (EGX) on Monday that losses amounted to EGP57.98m (US$3.2m) in 1Q17 compared to EGP37.28m in 1Q16. During the three-month period that ended 31 March 2017, sales increased to EGP385.6m from EGP292.6m in the same period last year. Total expenses grew 33 per cent to EGP68.5m compar...

Egyptian Cement Co seeks loan for Sohag plant

31 May 2017, Published under Cement News

Egyptian Cement Co has entered into negotiations with a local banking alliance to obtain a loan of EGP4bn (US$221m) to partly finance the cost of its first plant and construction materials complex in Sohag province. The alliance is made up of the National Bank of Egypt, Banque Misr, CIB and Arab African International Bank, sources told Al Mal newspaper. The details of terms and conditions memorandum are being agreed upon in preparation for addressing other local banks to contribute to ...

Arabian Cement launches round 2 of social start-up

22 May 2017, Published under Cement News

Egypt-based Arabian Cement Company (ACC) has launched the second round of its social start-up programme, continuing in partnership with Nahdet El Mahrousa (NM), TradeArabia reports. Building on the success of the first round, Khaleeha Suessi will offer entrepreneurship training for 15 shortlisted start-ups, out of which more than six start-ups will eventually receive seed funding and incubation services for one year. This round of Khaleeha Suessi is bringing together several community c...

National Cement post 1Q loss

15 May 2017, Published under Cement News

National Cement Co of Egypt reported losses of EGP40.4m (US$2.2m) in the first quarter of fiscal year 2016-17 against profits of EGP19.7m for the same period that year before, as shown by the company’s unaudited financial statements. The rise in losses between July and September 2016 is attributed to the increase in provisions by EGP37.2m, according to the company’s statement to the Egyptian Exchange (EGX) on Sunday.

Arabian Cement quarterly net profit rises

09 May 2017, Published under Cement News

Arabian Cement Co of Egypt posted consolidated net profits of EGP59,741,627 (US$3.3m) in the first three months of this year, versus net profits of EGP34,145,321 in the same period a year ago, the company announced in a statement sent to Egyptian Stock Exchange. Moreover, it posted standalone net profits of EGP59,101,824, versus net profits of EGP 33,324,334 in the same period a year ago. Separately, the company said it is to undertake three upgrade projects involving an investment of m...

Egypt: FLSmidth wins El Sewedy Cement contract

08 March 2017, Published under Cement News

FLSmidth has been awarded an order from El Sewedy Cement Company for the engineering, procurement and supply of equipment for the expansion of a cement production line. The plant will be built at Ain Soukhna in Suez Governorate, Egypt. Scope of supply: a complete state-of-the-art cement production line with the latest environmental pollution control systems and technology for the highest levels of energy efficiency and maintainability OK TM 39-4 vertical mill for raw grinding E...

Egypt: Alexandria Cement reports EGP34.1m in 4Q16

08 March 2017, Published under Cement News

Alexandria Cement posted a profit of EGP34.1m (US$1.93m) in 4Q16, a significant improvement of its business result when compared with the EGP98.5m loss posted in 4Q15. In 2016 losses fell by 76.1 per cent from EGP-214.2m in 2015 to EGP-51.12m one year later. Total sales increased 25 per cent YoY to EGP2.58bn, up from EGP2.05bn in 2015.

Egypt: Suez Cement to boost Helwan productivity

06 March 2017, Published under Cement News

Chairperson of the Suez Cement Company, Omar Mohanna, has said that Suez Cement Company aims to boost productivity at Helwan Cement after completing its plan to convert the plant to run on coal. He added that the company aims to diversify energy sources to avoid the negative impacts of fuel price surges. The Suez Cement Company began using coal in its factories in Katameya and Suez, with plans in the pipeline to convert the Helwan and Torah kilns to gas firing.

Egypt: Sinai Cement returns to black

02 March 2017, Published under Cement News

Fortune took a turn for the better for Sinai Cement in 2016. The company improved its net results significantly as it reported a net profit of EGP13.47m (US$835,183). In 2015, Sinai Cement reported a loss of EGP39.83m. Sinai Cement is owned by France’s Vicat group. The company operates a 3.5Mta cement plant in Sinai.

Egypt: Suez Cement reports deepening net loss

02 March 2017, Published under Cement News

Suez Cement has reported a deepening net loss of EGP629.3m (US$33.8m) for 2016. This compares with EGP100.8m reported in 2015. Part of HeidelbergCement following its Italcementi acquisition, Suez Cement is the largest cement producer in Egypt. The company operates some 14.8Mta of grey cement capacity in its Tourah, Helwan, Kattameya and Suez plants as well as a 1Mta white cement plant at El Minya.