Cement News tagged under: Egypt

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Egyptian cement prices rise EGP250/t in March

09 April 2018, Published under Cement News

Egyptian cement prices increased by EGP250/t (US$14.14/t) to reach EGP1100/t at the beginning of March, reports Ahram Online. This has been attributed to some manufacturers using a halt in production in Sinai to raise prices, according to members of the Building Materials Division of the Cairo Chamber of Commerce.  The cement price hike is part of a wider increase in the cost of building materials, which could result in a 15-20 per cent rise in real estate unit prices over the year. “Rea...

LafargeHolcim treated 10Mt of waste in 2017

28 March 2018, Published under Cement News

LafargeHolcim’s global waste treatment arm, Geocycle, treated 10Mt of waste in 2017, an increase of 13 per cent YoY. The company co-processed many different types of waste, including shredded industrial waste, spent solvents, used tyres and sewage sludge, according to a press release. "Sustainable building and living are key to the future and we are committed to playing an important role as the demand for sustainable construction solutions and sustainable buildings and infrastructure cont...

Cemex Day 2018

23 March 2018, Published under Cement News

Cemex CEO, Fernando Gonzalez, opened the Cemex Day 2018 on 15 March, claiming that over the last four years they had built a stronger company, including achieving a US$6bn debt reduction and the highest net income in a decade at US$800m. Troubling countries for Cemex were Colombia and Egypt, but the multinational still delivered EBITDA of US$2.6bn in 2017. The company also announced US$250m strategic capex spending for 2018, targetting assets in the emerging cement markets of Brazil and...

Egypt exports rise 79% in January

22 March 2018, Published under Cement News

Egypt’s cement exports increased 79 per cent in January 2018 to reach US$7m, compared to US$4m in the year-ago period, according to a report from the country's Export Council for Building Materials. This follows a recent 194 per cent rise in cement exports to Yemen, which contributed US$1.3m in January. Exports to Kenya boomed, advancing 6630 per cent to US$1.9m from US$29,000. However, cement dispatches to Saudi Arabia declined 25 per cent YoY to US$891,000 from US$1.19m. Following t...

Sit-in at Egypt's National Cement prompts Parliamentary investigation

08 March 2018, Published under Cement News

Egypt's National Cement Company is to be investigated after parliament decided it must resolve the dispute that has seen factory workers start a hunger strike and a sit-in, nearly a week ago, after 75 per cent of their wages were deducted. Work ground to a halt at National Cement company last November and MPs are demanding the real reasons for the government-affiliate's economic problems, when in 2017 it produced about 112 per cent of its set target (5500tpd), according to the development...

Alexandria Cement reports increasing losses in 2017

07 March 2018, Published under Cement News

Egyptian cement producer Alexandria Cement reported a consolidated net losses of EGP513.85m (US$ 29.13m) , when compared with net losses of EGP50.86m in 2016. The company’s standalone net loss in 2017 also widened from EGP187.48m to EGP301.79m during the same period.

Sinai Cement swings into the red

07 March 2018, Published under Cement News

Sinai Cement, Egypt, incurred consolidated net losses of EGP352.48m (US$19.99m) in 2017 from a net profit of EGP14.64m in 2016. Its standalone net results showed a net loss of EGP354.74m in 2017, following on from net profits of EGP13.47m the previous year, according to Arab Finance.

LafargeHolcim announces new Middle East/Africa organisation

06 March 2018, Published under Cement News

LafargeHolcim has announced its new organisation for the Middle East and Africa region. "This new organisation will further increase our market focus, our operational performance and support the development and execution of winning market strategies to grow profitable businesses in the Middle East & Africa markets," said Saâd Sebbar, who heads up the company’s MEA Region. The company’s four largest markets will report directly to Mr Sebbar and include the following Country CEO appointment...

National Cement posts net loss in 1HFY18

31 January 2018, Published under Cement News

National Cement has announced that its losses increased during the first half of FY18, ended December 2017. The loss increased by 136.7 per cent, to EGP496m (US$28m) from EGP209 of the year-ago period, according to Egypt Today. The unaudited results also showed a fall in revenue to EGP726m, compared to EGP940m recorded in the 1HFY17. The company also stated that it was expected to record profits of EGP17.7m for FY18. However, the present situation suggests that National Cement may post a ...

National Co for Cement to avoid losses by coal mill

22 January 2018, Published under Cement News

To help reduce the losses recently incurred by Egypt-based National Co for Cement, its new Chairman, Emad el-Din Mustafa has said the company will purchase a coal mill. The US$250m will reduce the cement company’s reliance on gas, which deepens the losses to more than US$3m YoY, according to Mr el-Din Mustafa. The company will also focus on training and updating workers’ efficiency, he added.