Cement News tagged under: North Africa

RSS feed

Qalaa Holdings achieves 105% YoY growth in 2Q20

01 October 2020, Published under Cement News

Qalaa Holdings has reported its consolidated financial results for the quarter ended 30 June 2020, with revenues of EGP7.4bn (US$470m), up 105 per cent YoY. " Qalaa’s performance was anchored by a recovering cement market in Sudan and an optimised pricing strategy by Al Takamol, which played a key role in offsetting the impacts of Egypt's underperforming cement market," said Qalaa Holdings' Chairman and Founder, Ahmed Heikal.

Suez Cement expected to increase stake in Tourah Portland

30 September 2020, Published under Cement News

Egypt’s Suez Cement is expected to submit a tender offer to acquire up to 100 per cent of the issued capital of Tourah Portland Cement for EGP7.18 (US$0.45) per share, according to a disclosure to the Egyptian Exchange (EGX). Suez Cement already owns 66.12 per cent of Tourah. Upon the execution of the offer, the latter is expected to voluntary delist its shares from the EGX. HeidelbergCement is also proposing to launch a tender offer to increase its 55.08 per cent stake in Suez Cement t...

Egyptian Cement to inaugurate plant in 2021

23 September 2020, Published under Cement News

Egyptian Cement Group has announced plans to inaugurate a new plant in 2021, according to Ahmed Abou Hashima, CEO. The facility is located in Sohag and has a total investment cost of EGP4.5bn (US$285.79m). Egyptian Cement’s new factory will be the group’s "first investment seed" in the coming year, marking the first business expansion since the COVID-19 pandemic.

Arabian Cement sets sales targets

22 September 2020, Published under Cement News

Egypt’s Arabian Cement Co has set a domestic sales target of 3.94Mt of cement in 2020, the same value as last year, according to Sergio Alcantarilla, company CEO. Despite outlining the company’s year-end target for the local market, Mr Alcantarilla said that it is difficult to predict its exports in 2020. He noted that this year, the company only sold 2.56Mt during the 8M20 and exported 215,000t. This compares to a total of 2.51Mt sold during the same period last year, of which 283,000...

Moroccan market expands 19% in August

04 September 2020, Published under Cement News

Cement consumption in Morocco increased 19.4 per cent YoY to 865,681t in August 2020 from 725,359t in August 2019, according to data published by the country’s Ministry of Urbanisation and Habitat. However, in the first eight months of 2020 demand fell by 15.8 per cent YoY from 8,883,681t in the 7M19 to 7,482,031t in January-August 2020.

Algeria exports 6000t of cement to Lebanon

02 September 2020, Published under Cement News

A vessel with 6000t of cement left the port of Djen Djen, Algeria, yesterday, heading for Beirut, Lebanon. Minister of Industry, Ferhat Aït Ali, and Minister of Solidarity, Kaoutar Krikou, were present during the departure. In a statement to the press, the two ministers focused on "the spirit of solidarity which animates the Algerian people towards the brotherly Lebanese people in this difficult circumstance that this country is going through". According to the same declaration, other acti...

Sinai Cement announces widening net loss in the 1H20

28 August 2020, Published under Cement News

Egypt’s Sinai Cement Co has seen its consolidated net loss widen to EGP247.6m (US$15.6m) in the first half of 2020, against EGP187.2m in the year-ago period. Its standalone net loss also expanded to EGP245.7m from EGP186.4m last year. The company attributed its losses in 2019 to the Egyptian pound devaluation on imported fuel, in addition to the higher prices of electricity and oil.

Tunisian government authorises use of polypropylene bags for cement

28 August 2020, Published under Cement News

Tunisia’s government approved the use of polypropylene for packaging cement, but the move has already drawn ire of the country’s environmentalists and the Tunisian Industrial Paper and Cardboard Co (Sotupapier). Sotupapier filed a complaint with the administrative tribunal on 21 August 2020 to challenge the decision taken by the Tunisian ministers of industry and trade. The company expects the step to increase plastic pollution through the production of at least 150m new polypropylene bags...

Carthage Cement posts TND3.3m net profit at end July

27 August 2020, Published under Cement News

Carthage Cement posted a net profit of TND3.3m (US$1.2m) as of 31 July 2020, despite at two-month shutdown due to the COVID-19 pandemic. The stoppage led the company to lose nearly TND28.6m, according to company CEO, Brahim Sanaa. Mr Sanaa said that the company targets a net result of TND19.6m by the end of the year, reversing the TND51.3m loss posted in 2019. Carthage Cement  carried out a capital increase from TND172,134,413 to TND343,624,940, reducing the company’s bank indebtness by ...

Tunisia looks to change cement packaging and reduce costs

20 August 2020, Published under Cement News

Salah Ben Youssef, Tunisia’s Minister of Industry and Small- and Medium-sized Enterprises, has stated that by replacing 30 per cent of Kraft paper bags used in cement packaging with polypropylene bags, the equivalent of TND20m (US$7.37m) in foreign currency would be saved.   "This will help Tunisia reposition itself on the Libyan market by bringing down the cost of cement bags and increasing the competitiveness of Tunisian products against the Turkish competitors," said Mr Youssef. The...