Cement News tagged under: Kuwait

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Kuwait: Siwertell receives third order from Acico Construction

10 February 2017, Published under Cement News

Siwertell, part of Cargotec, has signed a contract with Kuwait-based Acico Construction for its third road-mobile cement unloader. Similar to its last delivery in 2015, the next-generation, road-mobile unloader will be a trailer-based, diesel-powered Siwertell 10 000 S unit. It will be fitted with dust filters and a double bellows system and will have a rated capacity of 300tph. Acico also operates a Siwertell 5 000 S unit, which was delivered in 2014. The new unit will be built at Siw...

Kuwait Cement to sell stake in Kuwait Food Company

08 February 2017, Published under Cement News

According to reports in ArabianBusiness.com, Kuwait Cement will sell its stake in Kuwait Food Company (Americana) to Gulf-based investment group Adeptio. The US$4.42m deal follows Adeptio’s purchase of a majority stake in Americana, which it acquired in October for US$2.35bn.

Kuwait Cement 3Q profits up 19%

10 November 2016, Published under Cement News

Kuwait Cement posted a 19 per cent YoY growth in profits for the 3Q16. Earnings increased to KWD3m (US$9.9m) in 3Q16 compared to KWD2.55m in 3Q15. However, during the nine month period profits fell seven per cent to KWD15.2m from KWD16.3m in the same period last year. This decline in 9M profit was attributed to a decreased in gross profits by KWD1.45m as well as a decline in investment profits worth approximately KWD561,968.

Kuwait Portland Cement Co earnings down 10% YoY

17 July 2015, Published under Cement News

Kuwait Portland Cement Company earned KWD5.2m in the first half of this year (US$17.2m), or 55.1 fils per share, compared to KWD5.8m (61.12 fils per share) in the comparative period of 2014. The company said in a statement, posted on the Kuwait Stock Exchange website, that its total assets reached KWD82.34m, liabilities KWD17.48m in the 1H15, compared to KWD15.15m in 1H14.

Siwertell receives repeat Kuwait order

21 April 2015, Published under Cement News

Siwertell, part of Cargotec, will supply a second road-mobile unloader to Acico Construction Co in Kuwait. The company took delivery of its first mobile unit from Siwertell in July 2014.   The trailer-based, diesel-powered, Siwertell 10000 S road mobile unloader will be used at Shuaiba Port in Kuwait to discharge cement at 300tph. It will be equipped with a double bellows system to allow continuous unloading operations, and a dust filter to minimise dust creation. Scheduled for delivery by ...

Kuwait: Hilal Cement books full-year net loss

26 February 2015, Published under Cement News

Kuwaiti cement producer Hilal Cement booked a net loss of KWD374,000 (US$1.3m) in 2014, versus a net profit of KWD518,500 a year earlier, the company said in a bourse statement. The loss per share stood at 5 fils, compared to earnings per share of 7 fils. For the final quarter of 2014, Hilal Cement registered a net loss of KWD92,000, versus a net profit of KWD241,600 in 2013. The company attributed the lower performance to higher sales costs and administrative expenses, coupled with a dec...

Kuwait Portland Cement posts 5.2% rise in annual profit

12 February 2015, Published under Cement News

Kuwait Portland Cement said Tuesday its net profit stood at KWD8.26m (US$27.9m) for 2014, up 5.2 per cent from the KWD7.85m recorded in 2013. Earnings per share increased to 90.89 fils from 86.37 fils. The company said total assets rose to KWD88.9m at end-2014 from KWD74m a year earlier. The board of directors proposed a 70 per cent cash dividend for 2014, equal to 70 fils per share, in addition to a five per cent bonus issue, translating into five shares for each 100 shares held.

Siwertell mobile unloader serves Kuwaiti construction

08 December 2014, Published under Cement News

Siwertell, part of Cargotec, has announced the successful delivery, commissioning and recent entry into operations of a new mobile Siwertell unloader for Kuwait-based Acico Construction Co. It was ordered in June to help meet the region's growing cement demands and is now operational in Kuwait's second largest port, Shuaiba, located south of Kuwait City. The trailer-based, diesel-powered Siwertell 5 000 S road mobile unloader is fitted with dust filters and a double bellows system for uni...

Kuwait Portland Cement 9M14 net profit up 32% YoY

11 November 2014, Published under Cement News

Kuwait Portland Cement’s net profit increased by 32 per cent in the first nine months of the year to KWD8.64m (US$29.7m) from KWD6.57m a year earlier, the cement trader said in a bourse statement yesterday. Earnings per share (EPS) increased to 95.1 fils from 72.3 fils. Without disclosing exact figures, the company attributed the increase to higher sales, coupled with a rise in revenue from investments. Kuwait Portland Cement said total assets rose to KWD85.1m at end-September 2014 ...

Kuwait Cement profit rises 16.3% YoY

26 March 2014, Published under Cement News

Kuwait Cement Co (KCC) announced profits of KWD17.1m (US$60.7m) with earnings per share (EPS) at 26.1 fils for 2013, compared to a net profit of KWD14.7m and EPS of 23.7 fils in 2012. KCC said in statement on the website of Kuwait Stock Exchange (KSE) yesterday that the company's board of directors recommended the distribution of 18 per cent cash of the fiscal year ended in December 2013.? Shareholder equity reached KWD194m in 2013, compared to shareholder equity of KWD151.6m in 2012, wit...