Cement News tagged under: Middle East
Arabian Cement sees 80% fall in 2Q net profit27 July 2020, Published under Cement NewsArabian Cement Co reported a net profit of SAR7.6 (US$2) m in the 2Q20, down 79.6 per cent YoY. In the 2Q19 net profit reached SAR37.3m. Revenue declined by 15.2 per cent YoY to SAR139.6m in the 2Q20 from SAR164.6m in the equivalent period of the previous year. The company attributes the fall in net profits to a decrease in sales values and volumes at its subsidiary in Jordan, which was affected by closure due to the COVID-19 pandemic. In addition, Arabian Cement’s sales, general, admini... |
MENA outlook: Egypt and Saudi Arabia market prospects24 July 2020, Published under Cement NewsThis week, Cemtech hosted its latest live webinar which considered global market trends and provided an update on the dynamic Egyptian and Saudi Arabian markets in particular. Egyptian market update Solomon Baumgartner, CEO of Lafarge Egypt, delivered an overview of the Egyptian cement sector which is facing both the impact of the COVID-19 pandemic and other structural issues, such as its considerable overcapacity. Mr Baumgartner noted that January, February and even March were strong ... |
Qatar National Cement reports 32% fall in profit23 July 2020, Published under Cement NewsQatar National Cement has reported a 31.8 per cent YoY decline in net profit to QAR68.3m (US$18.76m) for the first half of 2020, compared to QAR100.1m in the year-ago period. The company also saw revenue fall 23 per cent YoY to QAR290.6m from QAR377.3m. |
Qatar's cement production falls in May22 July 2020, Published under Cement NewsQatar’s Industrial Production Index for May 2020 declined two per cent YoY to 104.2 points, but this was a six per cent increase compared to April 2020. Issued by the Planning and Statistics Authority, the index details the growth of various industrial sectors such as mining, manufacturing and electricity production. In particular, the production of cement and other non-metallic mineral products fell 13.8 per cent MoM in May. When considered in annual terms the decline was much more severe ... |
Egypt sees cement sales surge 42% in June21 July 2020, Published under Cement NewsEgypt's cement industry has reported a sudden surge in total sales, recording 3.64Mt during June 2020, including minimal exports, up 42 per cent MoM and one per cent YoY. June's improvement follows on from one of the lowest monthly sales run rates on record during May, which were impacted by the coronavirus (COVID-19) pandemic and the partial lockdowns. The MoM turnaround was recorded across companies including Suez Cement, which reported a sales growth of 55 per cent MoM and 24 per cent... |
New waste treatment plant to supply RDF in UAE14 July 2020, Published under Cement NewsThe construction of a solid waste treatment plant in Umm Al Qaiwain, UAE, is nearing completion. One operational, the facility will process waste from the nearby region and supply RDF to cement plants. The AED132m (US$36m) unit is expected to process 1500t of waste every day to produce 300,000tpa of alternative fuel, according to Dr Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment. The plant is expected to begin operations in the final quarter of 2020. |
Yanbu Cement appoints new chairman14 July 2020, Published under Cement NewsYanbu Cement Co has appointed Fahd Bin Soliman Al Rajhi as chairman of the board, reports Reuters. Mr Al Rajhi served since 2017 as deputy chairman of the Saudi-based cement producer and is also vice chairman of Sahara International Petrochemical Co. |
Southern Province Cement names new CEO13 July 2020, Published under Cement NewsSaudi Arabia’s Southern Province Cement has named Aqeel Futis Kadasa as its new CEO, effective from 12 July 2020. The appointment follows the resignation of Safar Mohammad Dhufayer on 11 July. Mr Kadasa began working for Yamama Cement and then the Saudi Electricity Company before joining Southern Province in 1997, where he later became deputy CEO for industrial services. |
Lebanese market contracts 56% in 1H2007 July 2020, Published under Cement NewsCement consumption in Lebanon fell by 55.7 per cent in the first six months of 2020. Demand decreased to 300,334t in the 1H20 from 677,620t in the 1H19, according to Libnanews. Local cement plants have reportedly ceased their activities following delays in the renewal of quarry permits. |
Jordanian Cement Factories files for insolvency06 July 2020, Published under Cement NewsThe 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 ... |