Cement News tagged under: Egypt
Egypt: Suez Cement ranked bottom27 June 2016, Published under Cement NewsEgyptian company Suez Cement has ranked in the bottom quartile of the country’s performers for the year just passed. The company’s performance saw it ranked 144/144 in the BSS News Bites ranking for Egypt, a percentile ranking of zero. Alongside this low ranking, Suez Cement’s shares also fell 66.8 per cent for the year ended 26 June 2016. Five years ago share price stood at EGP38.75 and fell over the next two years to EGP21.00. Two years ago the company saw its share price rise again to ... |
Egypt: CDI wins EUR1bn worth of orders13 June 2016, Published under Cement NewsChengdu Design & Research Institute of Building Materials Industry Co Ltd, a Sinoma company, has signed a EUR1.053bn turnkey contract for the design, supply, construction and installation of six 6000tpd cement plants for the Equipment Bureau of the Ministry of National Defence of the Arab Republic of Egypt in Cairo. The contract also includes the operation and maintenance of the two 5775tpd production lines of GOE Arish and the six Beni Suef lines for three years. |
Arabian Cement Q1 profits drop 41%31 May 2016, Published under Cement NewsArabian Cement have announced a fall in earnings of 40.5 per cent in 1Q16. The company earned EGP34.1m (US$3.85m) in 1Q16, compared with the EGP57.3m (US$6.47m) in the same period last year, according to consolidated financial results. Further, the unconsolidated profits for 1Q also fell 40.5 per cent YoY to EGP33.3m, from EGP56m. In 2015 Arabian Cement’s consolidated profits decreased 26 per cent YoY to EGP277.2m (US$31.2m) from EGP373.7m (US$42m). |
Egypt: Helwan Cement Company orders Gebr Pfeiffer mill20 May 2016, Published under Cement NewsThe Helwan Cement Company, an Italcementi subsidiary, has ordered a new Gebr Pfeiffer coal mill for its cement works. Delivery of the mill will start as early as the end of 2016. The MPS 3350 BK vertical roller mill has an installed gearbox power of 1050kW and is designed to grind 80tph of coal to a product fineness of 12 per cent residue on 90µm and 60tph of petcoke to a product fineness of six per cent residue on 90µm. |
Israel complaint over Egyptian circumvention of Gaza cement ban16 May 2016, Published under Cement NewsThe Israeli government has filed an official complaint with its counterpart in Cairo after Egypt permitted the import of cement into Gaza, reports the Middle East Monitor. News services report that this has provoked considerable anger within the Israeli security establishment, who view the Egyptian move as running counter to its efforts at collaboration with the Palestinian Authority. They also point out that it may violate a UN agreement whereby the international body monitors cement use... |
Suez Cement hit by Egyptian pound devaluation13 May 2016, Published under Cement NewsIn its quarterly earnings statement for 1Q2016, Suez Cement announced that it has seen cement volumes rise 15.6 per cent YoY. However, net profits for the quarter have fallen to just EGP2m (US$0.2m), down from EGP58m a year earlier. Suez’s revenues were 14.5 per cent higher at EGP1606m, but EBITDA was down 12.5 per cent at EGP140m. Cement demand was driven by both infrastructure projects, and small and mid-sized private sector initiatives. Better energy availability allowed the company... |
Cemex paves Egypt's first concrete highway14 April 2016, Published under Cement NewsCemex in Egypt contributed to the paving of Egypt’s first concrete highway. The approximately 22-mile (35km) road connects Cairo, the country’s capital, with the seaport city of Suez, two of the nation’s most important economic centres. Cemex supplied 130,000m 3 of concrete for the Cairo-Suez highway. This concrete paving solution offers this country a number of advantages over traditional asphalt roads, including greater durability, higher tolerance, better visibility – especially at nig... |
Egypt: Arabian Cement's revenue falls in 4Q1528 March 2016, Published under Cement NewsArabian Cement Company (ACC) has described its 4Q15 financial results as "mixed". According to Egypt Daily News, the company added that nothing is alarming with regards to profits, losses, and the operating performance. During the quarter, the company’s cement selling price registered EGP497/t (US$55.89/t), three per cent higher than ACC had previously predicted. However, revenues and profits both declined compared to the previous quarter. The company reported EGP338m (US$38m) in rev... |
ThyssenKrupp Industrial Solutions to expand in MENA22 March 2016, Published under Cement NewsThyssenkrupp sees future growth in the MENA, and particularly in Saudi Arabia and Egypt, for its industrial solutions business area. Boris van Thiel, thyssenkrupp's CEO of the MENA region, said thyssenkrupp sees a huge potential especially in the area of energy efficiency programmes and downstream value chains. Mr Van Thiel further said that the importance of the MENA region for its business cannot be overstated. “Already today, more than 20 per cent of our global sales are achieved in th... |
Suez Cement working to limit impact of Egypt's dollar shortage14 March 2016, Published under Cement NewsSuez Cement, a unit of Italy’s Italcementi SpA, is working to minimise the impact of Egypt’s dollar shortage on its operations and has no plans to “withdraw” from the country, Managing Director, Bruno Carre, said. “We are doing what we can to finance our operations locally and to work with local suppliers while getting extended credit facilities from our international suppliers and our group,” Carre told Bloomberg News. “Our key priority is to maintain our operations and to minimise the out... |