Cement News tagged under: Egypt
Egypt: Suez Cement 2Q net profit drops 57%22 July 2015, Published under Cement NewsSuez Cement posted a second-quarter net profit of EGP60.9m (US$7.8m) on Tuesday, down 57.2 per cent from the EGP142.5m recorded a year earlier. Revenue over the three month period declined by 15 per cent due to lower prices and exports. Suez Cement said it was diversifying its energy sources to mitigate the impact of shortages which "affected negatively the company's profits". |
Arabian Cement commissions latest AF equipment30 June 2015, Published under Cement NewsArabian Cement Company (ACC) has completed its latest addition to its alternative fuel processing equipment at its plant in the Suez governorate, as part of the Egyptian cement producer's shift towards diversifying its sources of energy. The HotDisc® combustion device by FLSmidth (Denmark) has been commissioned at ACC Ramliya's plant. The installation is part of ACC's strategy to substitute 100 per cent of its current energy sources with a mix of solid and alternative fuels by the end of 2Q... |
Amreyah Cement Co awards coal mill contracts to Christian Pfeiffer29 June 2015, Published under Cement NewsChristian Pfeiffer Maschinenfabrik signed a contract for the delivery and construction of two complete coal mills on 3 June 2015 at the head offices of Amreyah Cement Co, a member of InterCement, in Alexandria, Egypt. The contract will be implemented as a turnkey project, meaning that Christian Pfeiffer Beckum (CPB) will be responsible for the engineering, delivering all equipment and organising the construction work in Egypt. Signing the contract for two turnkey coal mills at ... |
Egypt: Arabian Cement launches social start-up programme18 June 2015, Published under Cement NewsArabian Cement Company (ACC) announced the launch of its social start-up programme, “Khaleeha Suessi”, helped by Nahdet El Mahrousa (NM), an incubator of early-stage social enterprises in the MENA region. The programme aims at promoting positive social impact and employment opportunities by providing entrepreneurs with the tools needed to successfully establish their own social startups. The launch press conference was attended by Jose Maria Magrina, ACC Chief Executive Officer, and Loay El... |
Qalaa Holdings topline growth boosted by ASEC Cement's Sudan subsidiary15 June 2015, Published under Cement NewsQalaa Holding reported a 43 per cent rise in revenue for the three months to the end of March 2015 to EGP1947.5m and an eight-fold surge in EBITDA growth to EGP275.8m. The company said topline growth was driven mainly by operational improvements at subsidiary ASEC Cement’s Al-Takamol works in Sudan, which recorded revenue growth of 157 per cent or an EGP131.7m increase over 1Q14. Furthermore, Qalaa’s core platform company TAQA Arabia also saw revnues increase by 57 per cent to EGP526.5m i... |
Arabian Cement Co 1Q revenue rises 11% YoY03 June 2015, Published under Cement NewsArabian Cement Company (ACC) said first-quarter revenue increased by 11 per cent to EGP585m (US$76.6m) compared to EGP529m a year earlier. The advance was mainly attributed to a 13 per cent increase in volumes as prices slip over the period. However, net profit dropped 52 per cent YoY to EGP56m, while the net profit margin was down 12 points to 10 per cent, the company in a statement. ACC said the EBITDA stood at EGP184m,19 per cent below than EGP227m in the corresponding period of last... |
Lafarge Industrial Ecology signs two agreements to manage RDF platforms in Egypt01 June 2015, Published under Cement NewsLafarge Industrial Ecology (ECOCEM) has signed two major contracts to manage and operate existing refuse-derived fuel (RDF) platforms in Suez and Qalyubeya, Egypt. In an effort to continue its efficient waste management processes, the company has signed a 10-year agreement to renovate and upgrade the platforms in Suez, and another separate 10-year agreement to manage and operate the existing platforms in Qalyubeya. Lafarge ECOCEM has already added a new production line in the Suez plat... |
Titan achieves better results in USA and Greece08 May 2015, Published under Cement NewsTitan's first-quarter turnover improved 12.7 per cent to EUR283.8m and EBITDA declined by 23.7 per cent to EUR23.2m. The company posted a pretax profit of EUR7.6m versus a loss of EUR9.7m a year earlier, while the net attributable profit of EUR6.6m compared with a loss of EUR11m. Net debt at the end of March, however, was up by 22 per cent to EUR660m, giving a gearing level of 42.2 per cent, compared with 38.5 per cent a year earlier. Group cement shipments increased by four per cent t... |
Egypt: Suez Cement sees 3% fall in 1Q15 revenues01 May 2015, Published under Cement NewsSuez Cement Group of Companies (SCGC), part of the Italcementi Group, saw revenues decline three per cent in the first three months of the year versus the same period of 2014. EBITDA for the quarter also fell by 49 per cent, mainly due to rising fuel prices resulting in a sharp 66 per cent drop in net profit. Unforeseen pressures on the construction sector as a whole were said to have depressed overall demand for cement products and, coupled with higher energy costs, this negatively impac... |
Egypt prices stable on surplus supply28 April 2015, Published under Cement NewsProducers in Egypt have decided to keep cement prices stable for the fifth-consecutive month, Minister of Supply, Khaled Hanafy, announced on Sunday. The price stability is due to surplus supply, Daily News Egypt quoted Medhat Staphanos, head of cement companies at the Federation of Egyptian Industries (FDI) as saying. Output has increased following the introduction of coal, which has helped alleviate the uncertainty of fuel sources. However, producers are still waiting an uptick in demand.... |