Cement News tagged under: Middle East
Yanbu Cement acquires Yanbu Saudi Kuwaiti Paper Products Co25 April 2022, Published under Cement NewsSaudi’s Yanbu Cement has acquired shares owned by Kuwait’s Shuaiba Industrial Co in its unit Yanbu Saudi Kuwaiti Paper Products Co for SAR32.3m (US$8.6m). The transaction allowed the transfer of a 40 per cent stake in the paper manufacturer to Yanbu Cement, making it the full owner of the former, according to a bourse filing. Yanbu Cement will fund the transaction from its own resources. In line with the company’s expansion and growth visions, the deal aims to provide material a... |
UltraTech acquires 29% stake in RAK White Cement19 April 2022, Published under Cement NewsUltraTech Cement Middle East Investments , part of UltraTech Cement in UAE, has invested US$101m to acquire a 29.39 per cent stake in RAK Cement Co for White Cement and Construction Materials PSC . RAK White Cement reported a turnover of INR4.825bn (US$63.2m) last year, up from INR4.46bn in 2020. The company is registered on the Abu Dhabi and Kuwait stock exchanges. |
Mondi acquires paper bag lines from Lafarge Cement Egypt subsidiaries14 April 2022, Published under Cement NewsMondi Group’s Mondi Paper Bags business unit has purchased paper bag converting lines from National Bag and Egypt Sack, two subsidiaries of Lafarge Cement Egypt . The addition of the production lines will increase Mondi’s annual capacity by around 150m-180m bags. Mondi Paper Bags COO, Claudio Fedalto, said: “Lafarge Cement Egypt is part of leading global building material company Holcim Group , which has been a key global customer of Mondi Paper Bags for years. “We are excited to ha... |
Vicat Cement Egypt's acquisition of Sinai Cement approved14 April 2022, Published under Cement NewsThe Financial Regulatory Authority (FRA) has approved the publication of a disclosure of an acquisition offer by Vicat Cement Egypt for a 42.12 per cent stake in Sinai Cement Co at EGP6.74 (US$0.36) per share, according to a filing to the Egyptian Exchange (EGX). Vicat will buy 56.064m shares in Sinai Cement, increasing its stake in the company to 100 per cent. |
Iranian cement market reaches 5.72Mt14 April 2022, Published under Cement NewsCement demand in Iran stood at 5.72Mt in March 2022, according to the Iranian Cement Association. The domestic output of 5.67Mt of cement and 6.33Mt of clinker was sufficient to supply the home market as well as meet overseas demand through exports of 0.312Mt of cement and 0.853Mt. |
ABB installs its distribution control system at Star Super Cement06 April 2022, Published under Cement NewsABB was the electrical and automation partner for the Star Cement clinkerisation plant 10 years ago and had deployed ABB’s DCS for three cement grinding units when these plants were installed. Each grinding unit had a different generation of DCS depending on the plant commissioning period. All grinding units have now been upgraded to ABB Ability System 800xA, which can implement advanced process control methods and is ranked by the ARC advisory group as the world’s No 1 DCS platform over th... |
ASEC repairs bearings in kiln tyre supports at UAE plant05 April 2022, Published under Cement NewsA cement plant in the UAE faced a major incident in February 2022 that caused severe damage in the journal bearings and roller supports in the middle tyre of the kiln. At very short notice, Arab Swiss Engineering Company (ASEC) addressed the damage. A team of experts from ASEC started the job immediately with the following objectives: • investigations leading to the development of the root cause of the failure • supervision of replacing and repairing all damaged parts • inve... |
Yamama Cement signs SAR1.633bn financing agreement04 April 2022, Published under Cement NewsYamama Cement Co signed a Shariah-compliant financing agreement on 31 March for SAR1.663bn (US$435.4m) with Saudi National Bank, the cement producer said in a statement to the Tadawul. The agreement covers long-term financing of SAR800m, for a period of eight years (including three years of grace period), and refinancing part of the existing long-term loans amounting to SAR563m, for a period of four years to repay part of existing loans. It also includes short-term financing of SAR... |
Riyadh Cement sees 4% drop in net profits in 202130 March 2022, Published under Cement NewsSaudi cement company Riyadh Cement Co posted a 3.8 per cent decline in net profits after zakat and tax to SAR211.64m in 2021, when compared with 2020 when net profits after zakat and tax reached SAR219.95m. Revenues were up 13.7 per cent to SAR671.06m in 2021 from SAR590.29m in 2020, according to a bourse filing. |
Northern Region Cement Co announces net profits of SAR107m in 202129 March 2022, Published under Cement NewsNorthern Region Cement Co has achieved net profits after zakat (charitable donations) and tax worth SAR106.67m (US$28.4m) in 2021, a decline of 1.4 per cent from SAR108.22m in 2020. Revenues fell by 13.7 per cent to SAR561.91m last year from SAR651.48m in 2020. In the 3Q21 the Saudi listed firm reported net profit after zakat and tax worth SAR18.35m, an YoY drop of 14 per cent from SAR21.43m. |