Cement News tagged under: Egypt

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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...

Suez Cement strike action, Egypt

21 March 2012, Published under Cement News

Egyptian cement producer, Suez Cement, said that workers in two of its factories started strike action on 14 March. The strike has halted shipping at the Suez and Katamiya plants, although production has not been affected. (Bloomberg)

Qatar National Cement clinker shipment

16 March 2012, Published under Cement News

Qatar National Cement is to conclude a deal this week to import 500,000t of clinker to meet increased cement demand. Bids were submitted to Egyptian and UAE suppliers, according to reports in Al Arab daily.

Suez Cement reports 54% decline in 2011 net profit

24 February 2012, Published under Cement News

Suez Cement of Egypt posted a 54 per cent decline in 2011 due to political unrest and uncertainty.  Net income fell to EGP568.6m (US$94m) from EGP1.24bn in 2010, the company said. With visibility in the Egyptian market still fairly poor, the company said in a statement to the Egyptian bourse: “The outlook is still very uncertain in the current political context and before a stable government can be established.”

Egypt to announce fresh round of licences

15 February 2012, Published under Cement News

A new round of licence bidding for greenfield cement plants in Egypt will get underway within the next three months. A representative of the minister of trade and industry announced that the government will issue 14 licences for the construction of new cement plants, with priority being given to Egyptian bidders.