Cement News tagged under: Hail Cement Co

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Hail Cement shuts down for maintenance

28 May 2019, Published under Cement News

Saudi cement producer Hail Cement Co has announced its planned shutdown of its production line for maintenance. The company’s cement mill and packaging line will remain in operation and therefore, order fulfilment will not be affected by the shutdown.

Saudi producers to benefit from Neom Bay construction start-up

21 January 2019, Published under Cement News

Saudi Arabia will start developing the first major area of Neom, the kingdom's multi-billion dollar mega-city, from 1Q19. The founding board of Neom, chaired by Crown Prince Mohammed bin Salman, approved the concept of the masterplan for ‘Neom Bay’ which will be the first residential area to be developed in the city. The construction work will be completed in 2020. The full implementation phase of the US$500bn Neom project could potentially bring in more than 20Mta of cement demand at its...

Hail Cement appoint new chairman and deputy chairman

05 December 2018, Published under Cement News

Hail Cement Co's board of directors approved on 3 December the appointment of Ali Othman Al Zaid as the company's new chairman. Meanwhile, the Saudi Arabian cement producer has also appointed Qasem Saleh as the deputy chairman, the cement producer said in a bourse statement.

CEO of Hail Cement resigns

10 July 2018, Published under Cement News

Saudi Arabia's Hail Cement Co has announced that its CEO, Matar Alahrani, has resigned from his position with effect from 30 August 2018, due to moving to a new position. The company's board of directors have noted their appreciation for Mr Alahrani's efforts since the company’s inception, according to a press release.

Hail Cement and Wärtsilä renew agreement

13 February 2018, Published under Cement News

Hail Cement Co and Wärtsilä have renewed their co-operation for a further three years. Wärtsilä will continue to ensure the operational reliability and availability of the company’s power plant in Turbah, Saudi Arabia. "Wärtsilä has been responsible for the full operation and maintenance of our power plant in Turbah for about six years now. We have been satisfied with their flexibility, quality of service and emphasis on safety, and are happy to continue our co-operation with them," says ...

Hail Cement obtains cement export licence

18 May 2017, Published under Cement News

Hail Cement Company has obtained a cement export licence from the Saudi Ministry of Commerce and Investment. The licence will be valid for one year from the date of approval on 14 May, according to a bourse filing on Tuesday. The company does not expect neither a financial impact from the licence on its results nor a positive impact for exporting cement due to high export fees.

Saudi Arabian cement sales down 16% in January

15 February 2017, Published under Cement News

Domestic cement deliveries in Saudi Arabia in January 2017 were 15.9 per cent lower than in the same month the previous year, according to statistics released by Yamama Cement. At 4.78Mt, cement sales in the country were significantly below the January 2016 figure of 5.68Mt. Meanwhile, Saudi producers continue to amass clinker stocks, adding another 0.4Mt to their reserves in January. Clinker stocks now amount to 28.5Mt – enough to supply more than six months of Saudi cement demand at ...

Saudi Arabia: Hail Cement Q4 profits decline 21%

17 January 2017, Published under Cement News

Hail Cement Company (HCC) reported a 20.99 per cent decrease in net profit for the 4Q16. HCC achieved SAR23.67m (US$6.31m) net profit in the quarter, falling from SAR29.95m in the 4Q15. Profits fell by 7.95 per cent to SAR104.52m in 2016 compared to SAR113.55m in 2015. The decline in net profits was attributed to lower total sales due to weak demand, despite unrealised investment profits in the shares' portfolio, the company’s statement said. Net profits rose 15.27 per cent to SAR20.12...

Hail Cement sees 15.3% rise in net profit for 3Q16

17 October 2016, Published under Cement News

Hail Cement posted a 15.27 per cent increase in net profit for the 3Q16, according to a bourse filing. The cement company reported a net profit of SAR20.12m (US$5.4m) from SAR17.45m in 3Q15, which was attributed to unrealised investment loss recognised during the same quarter last year. In the first nine months of 2016, net profits slipped 3.3 per cent YoY to SAR80.85m from SAR83.59m. The lower profits were a result of lower total sales as demand fell, competition increased and there was a...

Saudi Arabia: Hail Cement resumes production

02 June 2016, Published under Cement News

Hail Cement Company has resumed production after a stoppage for scheduled maintenance. According to the company's statement on the Saudi Stock Exchange Tadawul,” the financial impact of the stoppage will be reflected on the results of the second quarter of 2016. The cement firm previously announced that the production line was going to stop for annual maintenance for the furnace and the cement raw-materials' mill, between 23 and 31 May 2016.