Cement News tagged under: GCC

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GCC profits rise 27.1 per cent in 1H12

06 September 2012, Published under Cement News

Profits of the Gulf Cooperation Council (GCC) cement sector increased 27.1 per cent YoY in the first half of 2012 to US$971.5m from US$764m in the same period of 2011, the latest report from Global Investment House (GIH) shows. According to the report, the GCC cement sector grew 17 per cent in the first six months of the year mainly due to a huge pipeline of projects in Saudi Arabia helping to generate significant demand. Oman was in second place with growth of 13.8 per cent while Qatar a...

Improved outlook for Omani cement companies

29 August 2012, Published under Cement News

Oman cement companies are set for brighter times ahead as inflows of cheap cement from the UAE decline and demand picks up both in the UAE and the sultanate, according to a report by Global Investment House (GIH). In its GCC cement sector report released on Tuesday, GIH said that Omani cement firms are set for steady growth in the coming quarters as growth in the construction sector leads to a higher cement demand.  “The inflow of cheap cement from UAE, which earlier roughly catered to...

Middle East market developments

13 August 2012, Published under Cement News

Cement producers in the Gulf Cooperation Council (GCC) nations witnessed a 24.3 per cent increase in revenues in the first quarter of 2012, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the Middle East. Saudi Arabia continues to be the region's strongest market, but improvements are being seen in the UAE and Qatar is gathering pace. However, a challenging operating environment persists in Egypt. According to a report by Global Investment House (GIH), combine...

GCC first-quarter revenues rise

08 August 2012, Published under Cement News

GCC cement companies witnessed a 24.3 per cent increase in revenues in the first quarter, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the region, according to a recent report. The industry's profits rose to US$435.6m, compared to US$359.54m in the first quarter of last year, a growth of 21.2 per cent. However, according to Global Investment House's report, net margins suffered a fall of 90.4 basis points during the period. Gross margins witnessed a 233.6 b...

Brighter outlook for global markets?

11 June 2012, Published under Cement News

A recent report by Morgan Stanley sees the global supply-demand balance turning positive, leading to improved pricing power which it expects will return globally next year. The research house also sees important changes in the make-up of global volume growth as China's cement demand expansion is seen slowing. However, clear threats still exist in the form of uncertainties in Europe and in the possibility that US economic recovery could be stumbling. ?? The Morgan Stanley report highlights ...

GCC cement sector profits increase – report

25 May 2012, Published under Cement News

GCC cement sector profits increased 21.2 per cent in 1Q12 and net profits increased from US$359.5m in 1Q11 to US$435.6m in 1Q12, according to a report by Global Investment House (GIH). However, net margins witnessed a fall of 90.4 bps. Revenue, on the other hand, increased 24.3 per cent to reach US$1.26bn, the report said. Gross margins witnessed a 233.6bps increase in Q1, 2012 to reach 43.7 percent as compared to 41.4 percent, which was due to increase in selling price along with drop...

GCC's 2011 revenues up 14.2% YoY

26 March 2012, Published under Cement News

Revenues of GCC cement companies increased to US$4.6bn in 2011 from US$4bn in the previous year, a 14.2 per cent rise, a report by Global Investment House (GIH) said. Net profits, however, increased just two per cent from US$1.44bn in 2010 to US$1.477bn in 2011. In terms of performance by country, Saudi Arabia, Oman, UAE and Kuwait reported an increase sales during  2011, while Qatar saw a decline, the report said. The UAE which witnessed decline in sales revenue since 2008, enjoyed a 5....

GCC tyre burning permit nearing approval, USA

21 March 2012, Published under Cement News

A plan to burn tyres at GCC’s Rio Grande plant in Pueblo, Colorado, USA is nearing final approval. State air pollution regulators have issued a draft permit for GCC Rio Grande's proposal. The plant would use old tires piled up at the Midtown tire dump south of Fountain. According to the Pueblo Chieftain the state will hold a 30-day public comment period before issuing a final permit. GCC Rio Grande's 2631tpd greenfield plant at Pueblo, Colorado made its first clinker in January of 2008. ...

New SLV Cement dealer for GCC countries

01 February 2012, Published under Cement News

Cachapuz Bilanciai Group has extended the representation of SLV Cement and SLV Platform solutions to new countries in GCC through the Rameez Kalbani FZC company. With this partnership, the SLV Cement solution will be promoted in the United Arab Emirates and Saudi Arabia. Rameez Kalbani FZC is an engineering, consulting and trading company located in Fujairah Free Zone, UAE, and is offering electro-mechancial solutions related to cement plants, steel plants, oil field facilities and win...

GCC cement sector capacity to hit 120Mt by 2013

24 January 2012, Published under Cement News

Cement capacity in the GCC cement sector is expected to hit 120.7Mt in 2013, according to a Global Investment House (GIH) report with rising demand in Saudi Arabia, Qatar and Kuwait expected to take pressure off the oversupply situation. Saudi Arabia is driving the capacity gains as the country continues to outperform the region. Volumes are expected to reach 58Mta in 2013 and demand is expected to be on a par as new projects across all sectors emerge due to increased government spending....