Cement News tagged under: Jordan

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Northern Cement posts 89% rise in profit

29 April 2021, Published under Cement News

Jordan’s Northern Cement has announced an 88.8 per cent rise in profit to JOD1.8m (US$2.54m) in the first quarter of 2021, compared to JOD953,243 in the year-ago period. Sales also increased 32.4 per cent YoY to JOD9m from JOD6.8m in the 1Q20.

Northern Cement reports 37% rise in net income

15 February 2021, Published under Cement News

Jordan’s Northern Cement has reported a 24 per cent decline in revenue to JOD37.19m (US$52.46m) in 2020, compared with JOD48.94m in the previous year. Gross profit advanced 29.9 per cent YoY to JOD9.27m. Net income after tax climbed 37.1 per cent to JOD6.25m from JOD4.56m in 2019.

ASEC and Qatrana Cement extend O&M contract

01 February 2021, Published under Cement News

ASEC of Egypt and Qatrana Cement Co of Jordan have announced the extension of the operation and maintenance (O&M) contract for an additional three years. The collaboration started back in 2010 when partners entered into an O&M agreement and ASEC was entrusted with the full responsibility of the operation and maintenance of the 1.5Mta Qatrana Cement plant from raw material crushing up to cement dispatch. "This contract marks a milestone in our cooperation with Qatrana Cement Company and ...

Jordanian Cement Factories files for insolvency

06 July 2020, Published under Cement News

The Jordanian Cement Factories Co has announced that it will file for insolvency on the back of adverse financial conditions, worsening as a result of the COVID-19 pandemic, according to The Jordan Times.  As a result, the company has partially halted sales, collection and production. The company’s management had worked on a road map to restructure the company to increase sales, production and operational efficiency. However, the negative economic impact caused by the pandemic has impeded ...

Al Jouf Cement extends export contract to Jordan

26 November 2019, Published under Cement News

Al Jouf Cement has extended its contract with Saudi Industrial Export (SIECO) to export 72,000t of cement to Jordan over the next year. The new extension begins on 27 November 2019 and the financial earnings from the deal will be revealed in financial statemend before the end of 2020.

Lafarge Jordan Cement set to cut 200 jobs

05 November 2019, Published under Cement News

Lafarge Jordan Cement has announced it would be cutting 200 jobs to remain in business after accumulating losses of JOD62.2m (US$87m) following the closure of one plant in the country and the partial shutdown of another, according to Reuters. The company recorded losses of JOD34.6m in 2018, compared to JOD33.3m in the previous year. "The decision is part of the company plan to ensure its continuity," said Samaan Samaan, CEO of Lafarge Jordan Cement, to Reuters. Mr Samaan also noted that t...

Jordan: seeking opportunities

21 November 2018, Published under Cement News

In an interview with Khaled Huraibat, chairman of the Jordan Cement Producers’ Association, ICR finds out more about the latest developments in the country’s cement sector ahead of the 23rd AICCE, which takes place between 20-22 November in Amman, Jordan. Mr Huraibat highlights the challenges for the cement sector and provides his view on possible solutions. Khaled Huraibat, chairman of the Jordan Cement Producers’ Association ICR: The IMF has forecast economic growth of 2.5 pe...

Fostering mutual understanding

19 November 2018, Published under Cement News

Ahead of the 23rd Arab International Cement Conference and Exhibition (AICCE23) in Amman, Jordan, ICR speaks with Mohammad Khalaf Mohammad Al Manaseer, CEO of Manaseer Industrial Complex and representative of Jordan on the Board of Directors of the Arab Union for Cement and Building Materials. Mohammad Al Manaseer, CEO of Manaseer Industrial Complex ICR: Who founded the Manaseer Industrial Complex? Mohammad Khalaf Mohammad Al Manaseer (MKMAM): Manaseer Industrial Complex (MI...

Arabian Cement makes 2Q18 net loss of SAR50.9m

24 August 2018, Published under Cement News

Arabian Cement Company (ACC) registered a net loss of SAR50.9m (US$13.5m) in the 2Q18 mainly due to reduced performance at its Qatrana Cement factory in Jordan. The company's net profits fell by 5.5 per cent in 2Q18 compared to 2Q17, while sales reached 0.533Mt in 2Q18 down 34 per cent YoY. The Qatrana Cement plant recorded a higher than estimated net loss of SAR52.2m in 2Q18. The company held an inventory of 1.34Mt by the end of June, representing 42.2 per cent of the last 12 month's pro...

Jordan increases cement prices

25 July 2018, Published under Cement News

Jordan’s five factories increased the price of cement to JOD74/t (US$104) from JOD38 on Sunday, according to The Jordan Times. The price hike is intended to end the accumulative losses of the companies over the past few years resulting from a recession after the closure of the borders, says Yousef Shamali, secretary general, Ministry of Trade, Industry and Supply. Cement exports had stopped following the closure, except for small amounts to the West Bank, and consequently the price fell fr...