Cement News tagged under: Middle East
LafargeHolcim lines up Middle East Africa assets for US$8bn divestment11 February 2019, Published under Cement NewsJust a week after closing the US$1.75bn divestment of Holcim Indonesia, LafargeHolcim is understood to be contemplating the sale of its Middle East-Africa business unit, according to Bloomberg. The sale of the group's Middle East-Africa unit would take divestments well beyond the group's announced target of CHF2bn (US$2bn). In 2018 LafargeHolcim's Middle East-Africa operations are forecast to contribute 13.5 per cent (CHF816m) of group EBITDA and 11.2 per cent (CHF3090m) of group revenue ... |
LafargeHolcim lines up Middle East Africa assets for US$8bn divestment08 February 2019, Published under Cement NewsJust a week after closing the US$1.75bn divestment of Holcim Indonesia, LafargeHolcim is understood to be contemplating the sale of its Middle East-Africa business unit, according to Bloomberg. The sale of the group's Middle East-Africa unit would take divestments well beyond the group's announced target of CHF2bn (US$2bn). In 2018 LafargeHolcim's Middle East-Africa operations are forecast to contribute 13.5 per cent (CHF816m) of group EBITDA and 11.2 per cent (CHF3090m) of group revenue ... |
Deep into the Saudi down-cycle19 November 2018, Published under Cement NewsSaudi Arabia’s cement industry has faced a challenging few years as construction activity decreased following a more cost-conscious government budget. However, while many positive steps have been taken, the sector’s recovery could be protracted. By Pritish Devassy, Al Rajhi Capital, Saudi Arabia. While the Saudi cement industry has faced a challenging few years, the dust appears to be slowly settling with signs of a recovery emerging The largest economy in the Middle East, Sa... |
LafargeHolcim announces new Middle East/Africa organisation06 March 2018, Published under Cement NewsLafargeHolcim has announced its new organisation for the Middle East and Africa region. "This new organisation will further increase our market focus, our operational performance and support the development and execution of winning market strategies to grow profitable businesses in the Middle East & Africa markets," said Saâd Sebbar, who heads up the company’s MEA Region. The company’s four largest markets will report directly to Mr Sebbar and include the following Country CEO appointment... |
Siwertell receives repeat order for road-mobile unloader20 September 2017, Published under Cement NewsSiwertell, part of Cargotec, has received a repeat order from a company based in the Middle East for a second 10 000 S Next Generation road-mobile unloader. The unit has been ordered in response to an expansion in white and grey cement operations and will support the company's existing road-mobile unloader. The order was booked in Cargotec's 2Q17 order intake. The trailer-based, diesel-powered Siwertell unloader is fitted with dust filters and a double bellows discharge system, which ... |
LafargeHolcim03 July 2017, Published under Cement NewsLafargeHolcim is expanding its construction materials operations in the Middle East and Africa by launching the ‘Binastore’ brand in Algeria, Cameroon, Iraq and Lebanon. Other markets where the group is active are to follow. The outlets will be in the range of 50-200m² as well as some mobile stores in more rural areas. |
Saudi Cement net profit down 37%15 May 2017, Published under Cement NewsSaudi Cement has registered a 37 per cent drop in its net profit for the first quarter of SAR165m (US$44m) versus SAR265m (US$70.5m) attributed to lower volumes and selling prices amid slugglish demand. Despite weaker volumes, helped by locational advantage, the company's average realised price marginally declined by three per cent YoY and was down two per cent QoQ, as compared to deep discounts offered by other cement companies, according to Al Rajhi Capital report. Saudi Cement's gro... |
Yanbu reports decline in 1Q profit27 April 2017, Published under Cement NewsSaudi-based Yanbu Cement’s profits declined by 27.49 per cent YoY to SAR124m (US$33m) in the first quarter of 2017 from SAR171m. The decline in profits was attributable to weaker demand and fierce competition, according to a bourse filing on Wednesday. Total sales reached SAR296m in 1Q17 compared to SAR303m in the comparative period of 2016. |
Yamama Saudi Cement quarterly profit down 66%20 April 2017, Published under Cement NewsYamama Saudi Cement reported a net profit of SAR50.8m (US$13.5m) in the first quarter of 2017, translating into a YoY drop of 66 per cent due to a decline in operating profit. Gross profit in the period was also down by 66 per cent YoY to SAR63m on the back of lower sales volumes and average realised price per tonne. Revenue fell 41 per cent YoY to SAR220m. Cement volumes amounted to 1.24Mt in the first quarter of the year, down 25 per cent YoY but up by three per cent compared to the p... |
The world in 2016 and outlook for 201710 February 2017, Published under Cement NewsThis year will be a challenging year for the multinational cement companies, which are now faced by uneven economic performance in the emerging markets, combined with a new era of global political uncertainty that could further destabilise markets. On balance, however, global growth looks set to be anchored by positive trends in the major markets of China, India and the US, more than offsetting the poor performance elsewhere. The large cement majors have spent years diversifying their por... |