Cement News tagged under: Egypt
Suez Cement awards WHRPG project to Korra Energi15 June 2022, Published under Cement NewsKorra Energi has been awarded a new strategic, 'Waste Heat Recovery for Power Generation (WHRPG) project at Helwan Company ( Suez Cement Group), which is affiliated with HeidelbergCement Group . Korra Energi was pleased to take the lead with such an environmental and eco-friendly and Energy Efficiency application, as it is the first of its kind to be applied in Egypt for the cement industry. Korra Energi has taken charge of the design and build of the project where wasted heat generat... |
Sinai Cement reduces 1Q loss01 June 2022, Published under Cement NewsEgypt-based Sinai Cement , owned by Vicat , has posted consolidated net losses after tax of EGP67.19m (US$3.6m) in the first quarter of 2022, an improvement when compared with the year-ago period when losses reached EGP147.97m. Standalone losses were reduced YoY to EGP66.25m from EGP146.23m. Revenues increased to EGP475.57m in the 1Q22 from EGP282.62m in the 1Q21, according to a bourse filing on 31 May. |
Misr Beni Suef Cement sees profits surge to EGP48m in 1Q2231 May 2022, Published under Cement NewsEgypt-based Misr Beni Suef Cement reported net profits after tax of EGP47.65m (US$2.56m) in the 1Q of 2022, up from EGP37.42 in the 1Q21. The company’s revenues advanced to EGP436.38m in the 1Q22from EGP255.92m in the year-ago period, according to a bourse disclosure on 30 May 2022. |
Lafarge Egypt and Lumika sign US$93m solar power pact16 May 2022, Published under Cement NewsHolcim-owned Lafarge Egypt has signed a US$93m long-term agreement with Lumika Renewables Egypt, part of the AP Moller Egypt, to generate 140GWh of solar energy annually, according to Mist News. The two companies will establish a new 50MW power plant – the first plant owned by Lumika in Egypt. The plant will enable Lafarge to use clean energy for 50 per cent of its cement works’ energy consumption. The agreement comes into force by the first quarter of 2024. |
Vicat Cement Egypt's acquisition of Sinai Cement approved14 April 2022, Published under Cement NewsThe Financial Regulatory Authority (FRA) has approved the publication of a disclosure of an acquisition offer by Vicat Cement Egypt for a 42.12 per cent stake in Sinai Cement Co at EGP6.74 (US$0.36) per share, according to a filing to the Egyptian Exchange (EGX). Vicat will buy 56.064m shares in Sinai Cement, increasing its stake in the company to 100 per cent. |
Titan Cement introduces digital transformation to Egyptian plants04 April 2022, Published under Cement NewsTitan Cement ’s in-house proprietary advanced analytics methodology has been successfully rolled out in the company’s two cement plants in Egypt , following the successful implementation in Titan’s cement plants in Greece. In close cooperation with Titan’s Digital Center of Competence and, after a deep ‘dive’ into 16 years of data, the company’s teams teams in Beni Suef and Alexandria cement plants have applied the methodology that enables the company to minimise the total cost of s... |
Sinai Cement reports higher sales, narrow loss in 202104 April 2022, Published under Cement NewsEgypt-based Sinai Cement Co , owned by Vicat , reported a 61.9 per cent increase in sales to EGP1.44bn (US$78.8m) in 2021 when compared with 2020 when the company sold to a value of EGP889.2m. The company also narrowed its loss to EGP354m in 2021 from EGP560.3m in 2020. |
Suez Cement Group appoints new CEO28 March 2022, Published under Cement NewsEffective 1 May, José Maria Magrina, who led the Suez Cement Group of Companies as CEO for the last six years, will leave the company and start a new position with HeidelbergCement Trading as CEO. Mr Magrina has vast international experience in various executive roles. His professional career started at PricewaterhouseCoopers as a management consultant. Two years later, he joined Deloitte in a similar position where he focused on supply chain optimisation, market research and strat... |
Vicat and Egypt settle investment dispute24 March 2022, Published under Cement NewsEgypt’s Prime Minister, Mostafa Madbouli, and the Minister of Justice, Omar Marwan, have witnessed the signing of a final settlement agreement on the country’s investment dispute with Vicat , a shareholder in Sinai Cement Co . The agreement was signed by Minister of International Cooperation, Rania el Mashat on behalf of the government, and Vicat’s Chairman and CEO, Guy Sidos. Under the agreement, the arbitration case between the two parties before the International Center for Settlemen... |
InterCement records total cement and clinker volumes of 20.1Mt in 202121 March 2022, Published under Cement NewsInterCement ’s total cement and clinker volume reached 20.1Mt in 2021, an increase of six per cent in comparison to 2020, while in 4Q21 volumes were at solid 5.1Mt, stable when compared to 4Q20. In Argentina cement industry remained on a strong pace during the quarter, with Loma Negra volumes up four per cent YoY. Brazilian volumes, although declining by 3.7 per cent YoY, remained on a healthy level, backed by solid demand as result of strong backlog from housing sector and posit... |