Cement News tagged under: Kuwait

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Kuwait cement factory has fire quickly contained

24 August 2023, Published under Cement News

Kuwait Fire Force (KFF) says six teams were able to put out a fire that broke out in a cement and manufacturing paint factory in Shuaiba Industrial area, Kuwait. A report was received at the Central Operations Department stating that a fire broke out in a factory which contains flammable chemicals, the KFF PR and Media Department said in a statement. The plant is believed to be the Kuwait Cement Factory , but the ACICO Cement plant is also in this region. The fire extended to a nearby ...

GCC cement: set for a revival?

13 February 2023, Published under Cement News

With oil prices expected to remain elevated, GCC governments are easing their budgets and restarting construction projects. For cement producers this is good news and the sector prepares for its revival as demand for its products is forecast to show significant growth in the short- to medium term. By U Capital Research, Oman. After challenging times due to economic restrictions, caused by the COVID-19 pandemic and low oil prices, the GCC cement sector can now look forward to better...

RAK White Cement reports drop in profit

06 February 2023, Published under Cement News

Ras Al Khaimah Co for White Cement and Construction Materials (RAK White Cement) posted net profits of AED21.08m (US$5.74m) in 2022, a 35.9 per cent decline from AED32.87m in 2021. Revenues of the UAE-based company increased by 3.3 per cent to AED247.66m in 2022 when compared with AED239.8m in the previous year. Earnings per share (EPS) fell from AED0.07 in 2021 to AED0.04 in 2022.      

Kuwait Portland Cement 3Q profit stable

15 November 2022, Published under Cement News

Kuwait Portland Cement posted a 3Q total operating revenue of KWD32.7m (US$106.2m) in 3Q22, up from KWD27.6m in the equivalent period of 2021. The company’s net profit attributable to shareholders remained stable at KWD1.3m in the 3Q22.

RAK White Cement board approves delisting from Boursa Kuwait

07 September 2022, Published under Cement News

The board of Ras Al Khaimah Co for White Cement and Construction Materials has approved the delisting of the UAE company’s shares from Boursa Kuwait. The company retains its listing on the Abu Dhabi Securities Exchange. In the 1H22 the company reported net profits attributable to the owners of KWD1.41m (US$4.57m), up 22 per cent from KWD1.16m in the 1H21. Total operating revenues expanded by five per cent YoY to KWD10.71m from KWD10.16m in the year-ago period.

Kuwait Portland Cement orders new ship unloader from Bruks Siwertell

26 November 2021, Published under Cement News

Bruks Siwertell has won a new order from Kuwait Portland Cement Co for an ST 490-M ship unloader. It is expected to join another cement handling Siwertell ship unloader in Shuaiba Port, Kuwait City. “Kuwait Portland Cement has benefited from 20 years of experience using our Siwertell screw-type technology,” says Peter Göransson, sales manager, Bruks Siwertell. “It knows what our unloaders deliver; time and again the technology has proven its capabilities, demonstrating reliability, effici...

Kuwait Portland Cement records 7% fall in profit

25 March 2021, Published under Cement News

Kuwait Portland Cement has seen a 7.1 per cent YoY decline in attributable net profit to KWD1.3m (US$4.3m) in the 4Q20, compared with KWD1.4m in the year-ago period. Total operating revenue fell 46.6 per cent to KWD12.5m from KWD23.4m in the 4Q19.

Sharjah Cement receives approval to delist

17 February 2021, Published under Cement News

UAE-based Sharjah Cement has received the approval of the Capital Market Authority (CMA) to voluntarily delist from Boursa Kuwait. On 30 April 2020, the ordinary general meeting (OGM) of Sharjah Cement had agreed on a voluntary withdrawal from the stock exchange through the required measures.

Building on diversification

15 February 2021, Published under Cement News

Kuwait has seen its economy heavily impacted by the crisis in oil prices, a lack of diversity and the COVID-19 pandemic. A lack of investment in infrastructure has further seen demand fall for the cement sector, which relies on several importers as well as domestic cement producers. Building ACICO’s new grinding unit, Ball Mill 4, which is scheduled for commissioning in the 1Q21 Kuwait’s economy remains largely dependent on the oil sector, which accounted for more than 90 per ce...

Suez Cement sells 51% stake in Hilal Cement

25 January 2021, Published under Cement News

Suez Cement (HeidelbergCement group) has offered its 51 per cent stake in Hilal Cement Co of Kuwait for sale through the Kuwait Bourse on 24 January 2021. The Board of Directors of Suez Cement gave advanced notice of its intention to sell the company’s stake in Hilal Cement on 5 March 2020. Suez Cement’s Board of Directors approved the decision on 9 December 2020 when it delisted from the Egyptian stock exchange. The total amount fo shares for sale amount to 25,736,191.