Cement News tagged under: Egypt
Misr Cement-Qena reports 84% profit drop in 201902 March 2020, Published under Cement NewsEgypt-based Misr Cement (Qena) an 84 per cent YoY decline in consolidated net profits to EGP16.45m (US$1.05m) in 2019, compared with EGP104.39m in 2018, according to a statement to the Egyptian Exchange. Sales fell to EGP3.1226bn in 2019, down from EGP3.1229bn the previous year. Stand-alone net profits more than halved from EGP76.54m in 2018 to EGP35.24m in 2019. |
Arabian Cement sees 88% profit fall in 201928 February 2020, Published under Cement NewsArabian Cement Co posted a 87.5 per cent drop in net profit to EGP28.93m (US$1.85m) in 2019 when compared with the previous year, according to the company’s consolidated financial statement. In 2018 the company reported a consolidated net profit of EGP231.64m. The Egypt-based cement producer’s sales declined to EGP3.1bn, compared to EGP3.27bn in 2018. As a stand-alone business net profits fell to EGP30.09m in 2019 from EGP233.64m in the previous year. |
Arabian Cement’s positive energy19 February 2020, Published under Cement NewsFollowing its response to Egypt’s 2014 energy crisis, Suez-based producer Arabian Cement Co (ACC) has become a pioneer in the field of industrial energy efficiency. Having made the switch from natural gas to solid fuels the company has since placed even more emphasis on improving its energy performance as well as signing a private solar energy power purchase agreement, the largest of its scale in the country. By Arabian Cement Co, Egypt. The story behind ACC’s drive to enhance its ind... |
North Africa in focus10 February 2020, Published under Cement NewsNorth Africa is experiencing a turbulent political and economic period. Meanwhile the region seeks to increase the pace of development with cement consumption reaching 100Mt in 2018. Domestically, surplus capacity has translated into a more competitive environment, with many producers increasingly turning to the export market. Morocco is seeing higher levels of domestic demand, but with new capacity on the way there is pressure to export surplus volumes. Pictured: Ciments du Maroc’... |
Egypt's cement sector is relying more heavily on coal22 January 2020, Published under Cement NewsEgypt saw thermal coal imports rise by 31 per cent to 6.32Mt in 2019, according to official data from the port of Alexandria, driven by strong demand from the cement sector. Most coal was imported from the US. The latest data confirm a two-year growth period in thermal coal imports. In 2018 they spiked by 174 per cent to 4.81Mt from 1.75Mt in 2017. The country’s largest importer of thermal coal is Egypt’s largest cement producer, El Arish Cement, which imported 2.04Mt or 32 per cent of to... |
ASEC signs 3-year O&M contract extension with Sinai White Cement10 January 2020, Published under Cement NewsASEC, the leading O&M operator in the MEA region, announced the renewal of its Technical Management contract with Sinai White Cement Co until December 2022. The two-line cement facility has a total capacity of 2800tpd of clinker, located in north Sinai, Egypt. ASEC and Sinai White's two-decade collaboration started back in 1999 when ASEC was assigned as the consultant of choice for the first white cement production line in Sinai. The relationship was furthered with signing the Technical Man... |
Tourah Cement sells off kilns and mills for EGP31m01 January 2020, Published under Cement NewsTourah Portland Cement Company announced the sale of decommissioned kilns and grinding mills at a public auction held on 16 December. The items, which had ceased operation in 2013, raised EGP30.7m (US$1.91m), according to a statement to the Egyptian Exchange (EGX) on Monday. The company will also sell some scrap to its subsidiaries. During the first nine months of 2019, the company's losses widened to EGP516.56m from EGP19.6m a year earlier. The company suspended production in June 2019... |
South Valley Cement losses increase sharply31 December 2019, Published under Cement NewsSouth Valley Cement Company, Egypt, posted a 930 per cent year-on-year increase in losses during the first nine months of 2019, according to the company’s financial statements. The cement producer’s losses amounted to EGP173.9m (US$10.83m) in the January-September period, compared to EGP16.8m in the same period in 2018, according to a statement to the Egyptian Exchange. During the same period, the company’s sales fell by almost half to EGP345.26m from EGP656.3m in the same period in 2018. |
Alexandria Development seeks 100% acquisition of Alexandria Portland Cement09 December 2019, Published under Cement NewsEgypt’s Alexandria Development Ltd (Titan Cement International) has announced its intention to acquire the remaining 11.07 per cent stake in Alexandria Portland Cement. It already owns 88.93 per cent of the company and is expected to offer EGP6/share (US$0.37/share) in cash for the remaining stake. Once the deal completes, the company would delist Alexandria Portland Cement from the Egyptian Exchange, according to Reuters. |
Egypt's overcapacity continues to hamper cement sector22 November 2019, Published under Cement NewsThis week, the cement industry is preparing for the 24th AICCE Cement Conference and Exhibition in Cairo, Egypt, which is to be held between 24-26 November 2019. The country has seen a trend of declining profits for the cement sector, but in 3Q19 dispatch volumes saw a rise of 6.3 per cent QoQ for 20 cement producers. So, is there reason for cement producers to be optimistic about cement sales going forward? The military advantage As of March 2019, there were 19 cement companies with 42... |