Cement News tagged under: Egypt

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Middle East market developments

13 August 2012, Published under Cement News

Cement producers in the Gulf Cooperation Council (GCC) nations witnessed a 24.3 per cent increase in revenues in the first quarter of 2012, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the Middle East. Saudi Arabia continues to be the region's strongest market, but improvements are being seen in the UAE and Qatar is gathering pace. However, a challenging operating environment persists in Egypt. According to a report by Global Investment House (GIH), combine...

Torah strike action to cause EGP22m in losses

02 August 2012, Published under Cement News

Egypt-based producer Torah Cement announced that the latest strikes caused shortage in clinker production by around 82,000t and cement by 97,000t which will be reflected in profits margins by about EGP22m (US$3.6m). (Source: News Bites Pty Ltd)

New contract for FLSmidth in Egypt

30 July 2012, Published under Cement News

FLSmidth has been awarded a contract by National Cement Company of Egypt for operation and maintenance of two of their production lines located in Cairo, Egypt. The parties have agreed not to disclose the value of the contract which covers a period of seven years.   The contract which is the largest operation and maintenance contract awarded to FLSmidth up until now includes supply of spare parts and consumables, development of a full operation and maintenance organisation, knowledge transfe...

Cementir expects a better second half from Turkey

26 July 2012, Published under Cement News

Cementir's first half turnover improved by 2.6% to €462.5m, with improvements in the Nordic area, the Far East and Egypt, being partially offset by weaker numbers in Italy and in Turkey.  EBITDA improved by 17.5% to €55.9m and a depreciation and impairment charge just 1.8% higher at €42.8m, the trading profit jumped 136.1% to €13.2m.  In spite of a 14.9% increase in the net interest charge to €9.2m and helped by an 83.8% increase in the income from associates to €0.9m, a pre-tax profit of...

Misr Beni Suef two week gas stoppage to plant, Egypt

11 July 2012, Published under Cement News

Misr Beni Suef Cement announced that gas supplies to its plant stopped for 15 days during the period from 16 June 2012 to 30 June 2012. The company added in a release sent to the Egyptian Stock Exchanged that, despite the stoppage, cement production was not affected because it had enough clinker stock to meet market requirements during the period.

Citigroup lowers Italcementi price target, Italy

09 July 2012, Published under Cement News

Citigroup has lowered its price target on Italcementi to EUR3.60 from EUR4.10, after cutting by 15% the pre-tax profit estimates for the Italian cement producer in 2012 and 2013. The prices and figures in Italy grew despite the weak market conditions but the dipping sales in France lead the bank to expect lower figures in 2012 than in 2011, Citigroup commented. The higher prices in North America are expected to raise Italcementi's profit on the market both in the first half and full-201...

Egypt set to resume cement license programme

05 July 2012, Published under Cement News

The Egyptian government is to start resuming its cement licensing programme to attract investment, particularly foreign interest, according to an official at the Ministry of Finance. Reports in the Daily News, Egypt, state that the source noted that the “economic group of ministers prepared a plan to offer new cement licenses. The plan is the same prepared by the Industrial Development Authority (IDA) which was never implemented. The source estimated that the plan aims to yield EGP400m in...

Suez Cement delays new lines, Egypt

02 July 2012, Published under Cement News

Egypt-based Suez Cement has delayed a EGP1.5bn (US$248m) capacity expansion, Al Alam Al Youm reported, citing Managing Director Bruno Carrea. The company has postponed additional production lines at its factory in Ein El Sokhna for a year or two because of political unrest, the newspaper cited Carrea as saying. (Source: Bloomberg)

Arabian Cement Co commissions second line, Egypt

12 June 2012, Published under Cement News

Arabian Cement Company has officially opened its Line No 2 which has doubled the capacity of the plant at Suez to 5Mta. Speaking during the opening ceremony, Jose Maria Magrina, ACC CEO, said: “We are extremely pleased to announce opening our second production line, which will increase our production capacity, bringing us one step closer to becoming among the largest cement producers in the market. We have already finished the commissioning of the second line, and are now ready to produce...

ASEC Cement completes Zahana overhaul in Algeria

25 May 2012, Published under Cement News

Citadel Capital announced today that a key subsidiary of portfolio company ASEC Cement has completed a significant overhaul. “Zahana Cement Company, our key Algerian subsidiary, has just concluded the largest overhaul in the plant’s long history,” noted ASEC Cement CEO Giorgio Bodo. “This substantial intervention will lead to a 20% year-on-year increase in the production of both clinker and cement. Moreover, the deployment of new bag filters as part of the upgrade has dramatically lessened...