Cement News tagged under: Morocco
Moroccan cement demand slips 2.7% in April24 May 2016, Published under Cement NewsFollowing a positive first quarter, Moroccan cement demand fell 2.7 per cent in April as construction activity slowed and the real estate market was subdued. The decrease breaks with the growth recorded in the first quarter of 2016. The trend has been aided by a 12 per cent drop in housing starts while the decline in real estate loans and the financial situation of major development has subdued this part of the construction sector. Meanwhile, the cement industry has an installed capacity ... |
Ciments du Maroc sees rise in 2015 net profit04 March 2016, Published under Cement NewsCiments du Maroc, part of the Italcementi group, posted an 8.5 per cent rise in turnover to MAD3.73bn (US$376m) in 2015. Cement sales advanced 1.2 per cent while ready-mix concrete and aggregate sales increased by 38 and 30 per cent, respectively. The company’s operating result improved by 14.8 per cent to MAD1.17bn and net profit was up 34.5 per cent to MAD1.02bn. |
Addoha reportedly to sell 30% African stake to HeidelbergCement26 January 2016, Published under Cement NewsIt has been reported that the Moroccan Addoha Group will sell 30 per cent of its African assets to HeidelbergCement, according to local news sources. The value of the transaction is estimated at around MAD2bn (US$202m). When contacted, HeidelbergCement declined to comment. Following the construction of two cement plants in its home market of Morocco (Ben Ahmed and Beni Mellal), the Addoha Group has rapidly expanded its activities in Africa, launching subsidiary Ciments de L'Afrique (CIMAF... |
Moroccan market recovers in late 201507 January 2016, Published under Cement NewsFollowing a 21 per cent fall in September 2015, cement sales in Morocco rebounded in October and November as dispatches increased by 19.5 and 15.6 per cent, respectively, according to the Moroccan cement producers’ association, APC. Estimates for the full-year indicate a slight market expansion between 1-1.5 per cent in a year that was marked by demand instability. The modest growth is attributed in part to the malaise in the real estate sector. In addition, holidays such as Aïd Al Fitr an... |
China’s ICBC and Anouar sign US$171m financing agreement14 December 2015, Published under Cement NewsMorocco’s investment group Anouar Invest has signed a financing agreement with the Industrial and Commercial Bank of China (ICBC) in the amount of US$171m for the construction of a cement works in Settat, Morocco. The project’s MAD2bn (US$203m) engineering, equipment and construction contract was awarded to Sinoma-CDI, which expects the new plant to be up and running by the end of 2018. Anouar Invest is also building a cement unit in Laâyoune. |
Morocco: Anouar Invest starts construction on second cement works20 November 2015, Published under Cement NewsMoroccan holding company Anouar Invest announced the start of construction of a new cement works at Laâyoune. Located in Foum El Oued, the new Cimsud plant represents an investment of MAD300m (US$29.98m) and will have a capacity of 0.5Mta. The unit is expected to come online in July 2017. Anouar Invest has also launched work on a 2.2Mta cement plant in Settat, via its subsidiary Atlantic Ciment. The MAD3bn facility is scheduled to enter production at the end of 2018. |
Morocco: Cimar sees 7.6% EBITDA rise in 3Q1516 November 2015, Published under Cement NewsItalcementi-owned Ciments du Maroc (Cimar), Morocco, saw its turnover rise 1.8 per cent to MAD823m (EUR77.4m) in 3Q15, according to analysts at BMCE Capital Bourse. The figures do not reflect the current slowdown in public works and a lack of investment in social housing, which saw cement and clinker flows fall by 15.8 per cent QoQ (-4.2 per cent in 9M15). The rise in the cement price as well as the healthy sales of ready-mix concrete and aggregates, which expanded by 39.4 and 21.1 per cen... |
Morocco: September 2015 sales drop 21%13 November 2015, Published under Cement NewsThe Moroccan cement market contracted by 21 per cent YoY in September as sales fell to 1,029,736t. As a result, total cement sales for the year to date reached 10,508,851t, down 1.4 per cent YoY. The drop in sales is due to the close of construction sites for the Aïd El Kebir holiday as well as the downturn in the real estate sector, which is the largest cement consumer. In terms of regions, Taza-Al Hoceima-Taounat, Rabat-Sale, Greater Casablanca and Tangier-Tetouan recorded declines... |
Ciments du Maroc demolishes Anza plant23 October 2015, Published under Cement NewsCiments du Maroc, part of Italcementi, is currently demolishing the old Anza cement works near Agadir. The plant was taken out of service more than five years ago, after the commissioning of the Aït Baha works. The site will be rehabilitated in a project called Agadir Oasis as financial partners, real estate developers and leisure park companies move in. |
Morocco: cement demand falls 6.3% in June16 July 2015, Published under Cement NewsMoroccan cement consumption fell a further 6.3 per cent YoY to 1.16Mt in June following a similar decrease in May. This brings cement demand over the first six months of this year down 1.3 per cent to 7.3Mt, with the decline mainly attributed to a slow real estate market. Mohammed Chaïbi, president of Ciments du Maroc and the Moroccan cement association (APC), told L'Economiste that he expects the decline to continue going forward. Key factors that are likely to hold demand growth bac... |