Cement News tagged under: Misr Beni Suef Cement
Mixed results for Egyptian producers14 May 2018, Published under Cement NewsEgypt’s Alexandria Cement has announced a further consolidated net loss in the first quarter of 2018, which widened 17.1 per cent YoY to EGP34.78m. Furthermore, the company recorded a standalone net loss of EGP71.28m against a net profit of EGP12.63m seen in the year-ago period. Elsewhere, Misr Beni Suef Cement posted a 280.9 per cent YoY rise in net profit to EGP125.9m for 1Q18. Sales saw a significant increase of 77.3 per cent to EGP619.1m, compared to EGP349.1m of the previous year. |
Misr Beni Suef sees 41% drop in 1H net profit11 August 2017, Published under Cement NewsEgyptian cement producer, Misr Beni Suef Cement, announced in a statement sent to the Egyptian Stock Exchange, the audited financial results for the first six months of 2017, posting a 41 per cent decline in net profits. The company reported net profits of EGP55,722,455 (US$3,132,487), versus net profits of EGP94,574,290 in the same period a year ago. |
Egypt: Misr Beni Suef Cement postpones coal mill26 January 2017, Published under Cement NewsMisr Beni Suef Cement Company has postponed the installation of a coal mill at its Beni Suef plant to the 3Q17. The coal mill is expected to cost EGP18m (US$0.96m). Managing Director, Farouk Mostafa, said the company had intended to install the mill in December 2016 but was forced to postpone due to the shortage in US dollars needed to import the mill and its spare parts, as well as the fall-out from the decision to float the Egyptian pound, which caused prices to hike. He explained that ... |
Beni Suef begins construction of coal mill, Egypt16 February 2015, Published under Cement NewsBeni Suef Cement has began the construction of the coal mill worth EGP200m (US$26.3m), to be used as an alternative to natural gas and heavy fuel oil at its cement plant in Egypt. Farouk Mustafa, managing director of the company, said he expects the project to be completed in October, adding that the project is being partly funded through a EGP100m loan with Egyptian Gulf Bank. Mustafa said that using mazut as a temporary measure to prevent natural gas shortages halting production. Howe... |
Egypt: Supreme Administrative Court suspends privatisation appeal20 January 2015, Published under Cement NewsThe Supreme Administrative Court has decided to halt proceedings looking into the appeal against the privatisation of Egypt-based Beni Suef Cement Company. The court has ordered that workers are reinstated to the company but has temporarily suspended looking into the privatisation appeal. The suspension is pending another court decision in a case questioning the constitutionality of a law issued last year, which bans third parties from challenging sales or investment contracts signed betw... |
Egypt: Beni Suef signs bank loan for coal mill19 December 2014, Published under Cement NewsBeni Suef Cement has signed a loan contract with a bank for a coal mill, according to a bourse statement. The Egyptian cement producer said the loan consisted of EGP100m (US$14m) for the planned mill, but did not specify the bank. Over the first nine months of the year, parent company Titan Cement said the severe fuel shortage has had a very damaging effect on production and led to clinker imports to supply some customer needs. |
Beni Suef reaches agreement to build coal mill, Egypt16 October 2014, Published under Cement NewsBeni Suef has reached an agreement to build a coal mill worth in 12 months, the cement producer announced in a statement to the stock market. The project, worth EGP200m, will be funded through self-financing and loans, the company added. It is expected to be completed by the end of 2015. |
Beni Suef Cement gas and diesel supply halted10 September 2014, Published under Cement NewsBeni Suef Cement announced that gas and diesel supply to its factories has stopped since 26 August 2014, according to a bourse statement on Monday. The firm added that when energy supply was halted, it had storage and a stock of clinker which prevented the company from being impacted during the period. Petroleum ministry said that the halt was occasional and will be resumed as soon as possible. He said it was not reported to the stock exchange because it did not have an effect at that ... |
Misr Beni Suef signs equipment contract to facilitate coal usage20 June 2014, Published under Cement NewsMisr Beni Suef Cement has reportedly signed contracts with a European company for the equipment needed to operate a kiln line with coal, involving an investment of EGP200m (US$28m). A company source told local press that after the purchase the cement producer would operate one line with coal and the other with natural gas. Misr Beni Suef Cement is negotiating with several bank for financing part of the deal. (Source: Mist News) |
Misr Beni Suef revenues boosted by higher prices19 March 2014, Published under Cement NewsMisr Beni Suef Cement (MBSC) saw a 20 per cent rise in revenues in 2013 to EGP1.32bn (US$189.6m) as higher cement prices compensated for lower volumes. Total sales volumes dropped seven per cent YoY, implying a utilisation rate of 89 per cent compared to 96 per cent in 2012. Domestic shipments accounted for 75 per cent sent of the company’s sales while the remainder was exported. Meanwhile, its average cement prices for the year stood at EGP494/t (US$71) up 28 per cent YoY. Gross prof... |