Cement News tagged under: Egypt
Suez Cement to invest US$40m in environmental upgrade and fuel adjustments22 November 2012, Published under Cement NewsSuez Cement is planning to invest around US$40m over the next couple of years to enhance environmental performance at its plants as well as switching partly to coal and refuse, according to Alborsa newspaper. Suez Cement managing director Bruno Carre said that the company is considering a number of investment opportunities in the Egyptian market in light of recent political and economic developments. In 2012, the company invested around EGP300m while total investments by the parent co... |
Cementir's ready-mixed concrete volumes weaken08 November 2012, Published under Cement NewsCementir's turnover for the first nine months of the year was up by 4.9 per cent to €730.9m. EBITDA, which weakened by 11.9 per cent in the third quarter, was ahead by a modest 3.5 per cent to €94.9m. This reflected higher energy costs, particularly in the case of electricity, and increased staffing levels was a result of the expansion into waste management. The trading profit advanced by 4.7 per cent to €30.6m. The net financial charge declined by 37.4 per cent to €13.9m to give a more ... |
ANCC Egyptian plant to begin production in April 201307 November 2012, Published under Cement NewsThe Arab National Cement Company’s (ANCC) 2Mta cement plant in Minya will start full production in April 2013. The cold run phase of the state-of-the-art greenfield project is now in progress, officials revealed as they welcomed the new Minya governor Dr Moustafa Kamel Eissa to the factory. “I was impressed with the progress I saw,” said Eissa. “In addition to providing much-needed employment opportunities, the high-quality Portland grey cement ANCC will produce will capitalize on the ... |
Asia and US improvements boost Vicat nine month results06 November 2012, Published under Cement NewsVicat's turnover for the first nine months of the year edged ahead by 0.2 per cent to EUR1731m, but this represents an underlying decline of one per cent. Asian and US improvements made up for French and African volume declines. The gearing level increased to 47.6 per cent at the end of September compared with 43.4 per cent a year earlier and 40.6 per cent two years ago, with the expansion in Asia being the principal reason for the increase in debt levels. Turnover in cement was 0.7 per... |
Egypt cement prices rise02 November 2012, Published under Cement NewsEgypt’s cement market has witnessed an increase of EGP50/t (US$8) resulting in complaints from wholesalers. “Since before the Eid holiday, cement producers have been pressing to increase price per tonne,” cement wholesaler, Khairy El-Batrawy said. Cement wholesalers reported that they received messages from cement producers on Monday, notifying them about the increase. El-Batrawy said that cement producers are using the shortage of natural gas as an excuse to increase prices. Natural g... |
Exports to Libya increase value of Egyptian exports16 October 2012, Published under Cement NewsA rise in exports to Libya have driven an increase in the value of Egyptian exports in September 2012 on annual basis for the first time in six months. According to the latest release from the Industry and Commerce on Monday said the increase in the value of construction materials from EGP2.8bn in September 2011 to EGP4.8bn in September 2012 drove the spike. The total value of all Egyptian exports reached EGP11.7bn (US$1.9bn) in September 2012 versus EGP10.17bn in the same month last ... |
Govt to appeal court order Assiut Cement renationalisation, Egypt19 September 2012, Published under Cement NewsThe Egyptian government plans to file an appeal against a Thursday court ruling renationalising Assiut Cement, Industry and Foreign Trade Minister Hatem Saleh told Ahram Online on Tuesday. Since its privatisation in 1999, Assiut Cement has been 95.8 per cent owned by Cemex. On the sidelines of Tuesday's Egyptian National Competitiveness Conference, Saleh said the government would grant seven new licenses for Egypt-based cement companies once ongoing energy shortfalls were resolved. (... |
Court ruling threatens to nullify Cemex stake in Assuit, Egypt14 September 2012, Published under Cement NewsCemex said on Thursday its Egyptian unit Assiut Cement Co has learned of a preliminary ruling by a court in Egypt that could nullify the agreement under which Cemex bought a majority stake in the company more than a decade ago, Dow Jones Global Equities News reports. Assiut Cement is fighting the decision. It will continue to operate as usual, Cemex said in a statement to the Mexican Stock Exchange. Cemex bought its stake in Assiut from Metallurgical Industries Co., a state-run Egyptian ... |
Turkish investors apply to build Sinai cement plant, Egypt06 September 2012, Published under Cement NewsTurkish investors have applied to build a cement plant in the Sinai region of Egypt, after Egyptian authorities issued legislation on developing the peninsula, according to reports by Bloomberg citing local newspaper Al Masry Al Youm. The Turkish companies are reported to have filed a land request for the project, the daily reported citing General Ismail Al Nagdy who heads Egypt’s General Authority for Industrial Development. |
Assuit Cement drivers strike, Egypt29 August 2012, Published under Cement NewsDrivers working at the Assuit Cement factory in Egypt continued striking for a second day on Saturday in protest of penalties imposed on them by the company, according to local press reports. Workers at the company’s transportation department have also joined the strike due to alleged mistreatment by company officials, Ahram online reported. The head of security at the cement factory has reportedly given orders to prevent food and drink from entering the factory to pressure workers to end... |