Cement News tagged under: Egypt

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Egypt production disrupted by gas shortages

02 May 2014, Published under Cement News

Securing sufficient fuel to operate production facilities has become one of the key challenges for Egyptian cement manufacturers with output rates dropping and input costs rising, leading to cement prices rising. Latest industry reports state that production has come to a halt at 10 cement plants following EGAS's decision to temporarily cut off the gas supply. The plants reportedly account for approximately 70 per cent of Egypt’s cement output. An official from the Federation of Egyptia...

Egypt: ACC set for IPO

29 April 2014, Published under Cement News

Egypt-based producer Arabian Cement Company has set an indicative price range for its planned stock market listing at between EGP8.45 and EGP9.55 (US$1.37), with trading to begin on or around 21 May 2014, Chief Executive Jose Maria Magrina said on Monday. The deadline for buying orders will be on 8 May 2014 for private placement and 13 May for retail investors. The price of the initial public offering (IPO) will be announced on 10 May, he told Reuters in emailed statements. Magrina also to...

Norton Rose Fulbright advises on Arabian Cement IPO in Egypt

24 April 2014, Published under Cement News

Global legal practice Norton Rose Fulbright is acting as international transaction counsel for the announced Arabian Cement Company (ACC) initial public offering (IPO) in Egypt and international institutional offering on the Egyptian Exchange (EGX). EFG Hermes and CI Capital are acting as Joint Global Coordinators in connection with the offering. ACC, the Egyptian cement producer, is majority-owned by Spain's Cementos La Union. The offering will involve a sale of shares by certain min...

Egypt: ACC to start IPO roadshow next week

15 April 2014, Published under Cement News

Egypt's Arabian Cement Company (ACC) plans to start an international roadshow next week to float between 22.5-30 per cent of the company, its chief executive, Jose Maria Magrina, told Reuters on Monday. "Our target is the 14th of May to start trading and I think 12th of May end of subscription but that may change ... It depends on the result of the roadshow," Mr Magrina said.

Egypt: Suez Cement increases dividend payout

02 April 2014, Published under Cement News

Suez Cement, part of the Italcementi group, will pay a cash dividend of EGP2.65/share (US$0.38), it said in a statement published yesterday. The company said it would make the payment in two phases. EGP1/share will be distributed in April, and the remainder of EGP1.65/share  in September. Last year, Suez Cement paid a cash dividend of EGP1.65/share, according to Thomson Reuters data.

Misr Beni Suef revenues boosted by higher prices

19 March 2014, Published under Cement News

Misr Beni Suef Cement (MBSC) saw a 20 per cent rise in revenues in 2013 to EGP1.32bn (US$189.6m) as higher cement prices compensated for lower volumes.   Total sales volumes dropped seven per cent YoY, implying a utilisation rate of 89 per cent compared to 96 per cent in 2012. Domestic shipments accounted for 75 per cent sent of the company’s sales while the remainder was exported.   Meanwhile, its average cement prices for the year stood at EGP494/t (US$71) up 28 per cent YoY. Gross prof...

Energy shortage behind Egypt cement price spike

11 March 2014, Published under Cement News

Energy shortages are behind the recent spike in Egyptian cement prices as reduced gas supplies lowers output, a statement by Egypt’s cabinet has said. Daily News Egypt reported that interim Prime Minister Ibrahim Mehleb, who heads the cabinet, met with Minister of Foreign Trade, Industry and Investment Mounir Fakhry Abdel Nour, Minister of Energy and Electricity Mohamed Shaker, Minister of Petroleum Sherif Ismail and Minister of Environmental Affairs Leila Iskander on Sunday. Medhat Stepha...

Titan: profits decline, other than in the USA

28 February 2014, Published under Cement News

Titan reported a four per cent improvement in turnover for last year to EUR1175.9m, having risen by 3.6 per cent in 2012. The US proved to be a particularly bright spot in 2013 for the company, while the rate of decline in its domestic market of Greece eased. Full-year EBITDA edged ahead by 0.1 per cent to EUR196.0m. Excluding exchange rate movements, turnover would have been ahead by 8.3 per cent and EBITDA by 6.4 per cent. With a 10.7 per cent reduction in the depreciation charge, th...

ASEC Minya Cement launches sulphate resistant cement

18 February 2014, Published under Cement News

ASEC Minya Cement has launched its sulphate resistant cement (SRC) entitled ‘ASEC Al Mokawm.' The SRC type protects concrete from the effects of sulphate salts which are usually found in surrounding environments such as agricultural soil.  Use of the cement also results in a reduction of water permeability in the finished concrete product, and thereby a decrease in cracks. Amr Gemeyie, commercial director, said: “The company has launched ASEC Al Mokawm cement to reflect its ability to ...

Suez Cement inaugurates waste treatment plant

17 February 2014, Published under Cement News

Suez Cement, part of the Italcementi group, inaugurated its first waste treatment plant in Egypt on Sunday with investments totalling around EUR5m. The project is part of the Egyptian-based company's strategy to increase the amount of energy from waste derived fuels. It will use around 45,000t of household waste to produce 35,000tpa of alternative fuel. "The project will use the latest equipment and technologies available in this area," said Egypt's Minister of Environment Laila Eskand...