Cement News tagged under: Raysut Cement

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Raysut Cement targets expansion outside Gulf region

28 May 2019, Published under Cement News

Raysut Cement Co aims to build on its recent acquisition of Sohar Cement by expanding into Africa and India. Raysut Cement's Chief Executive, Joey Gosh, signalled that further expansion for the Oman cement producer was planned in 2019. Having acquired Sohar Cement Factory LLC for US$60m, Oman Cement is now looking outside of its domestic market. "We are looking at an aggressive expansion strategy from 2019 with a view to eventually expand our production to 20Mta," said Mr Gosh. The indian ...

Raysut Cement of Oman to acquire Sohar Cement

25 February 2019, Published under Cement News

Raysut Cement Co SAOG has informed Muscat Securities Market (MSM) that it has signed a letter of intent (LoI) with the shareholders of Sohar Cement Factory LLC of Oman, with respect to the purchase of all its shares. 

 According to Ghose Jotirmoy Pratul Krishina, CEO of Raysut Cement, the parties are currently discussing the terms of the proposed acquisition and company will keep its shareholders informed of any significant future developments as and when they happen. With a 240tph gr...

Raysut Cement begins operation of new digital solutions

23 January 2019, Published under Cement News

Oman’s Raysut Cement Co (RCC) has begun operation of its new SAP ERP suites after five months of implementation. The SAP S/4 HANA and SAP SuccessFactors suites will help boost efficiency at the company. "Digital transformation at RCC is an ongoing agenda and the deployment of the SAP modules is a beginning," said Joey Ghose, CEO. The new SAP S/4HANA will assist the company to increase efficiency levels in business processes, while SAP SuccessFactors is a human capital management tool. "B...

Pioneer Cement to begin RDF usage

02 January 2019, Published under Cement News

UAE-based Pioneer Cement, a subsidiary of Raysut Cement, has signed an agreement with Emirates RDF that will lead to the use of fuel derived from household waste in its production plant. According to a statement, the company will be one of the first cement facilities in the region to use waste fuel. "Pioneer Cement has a strong focus in protecting the environment and the agreement, which will pave the way for us to use RDF (refuse derived fuel), is a pioneering step in bringing innovation i...

Raysut Cement targets international expansion

07 December 2018, Published under Cement News

This week Oman's Raysut Cement Co announced that it is planning to expand its portfolio by entering the Indian cement markets of Gujarat and Chhattisgarh, as well as targeting a 70 per cent stake in the distressed Kenyan producer ARM Cement, which is up for sale with debts of US$140m. The investments are all part of Raysut Cement's medium-term plan to substantially raise cement capacity from 6Mta to 20Mta by 2022. The acquisitions in India will represent an initial total investment of US$20...

Raysut Cement to acquire stakes in Indian cement producers in 1Q19

04 December 2018, Published under Cement News

Raysut Cement of Oman plans to invest US$700m in the Indian cement market by 2022. The cement producer intends for approximately US$200m of this total to be invested in acquiring majority stakes in two Indian cement producers in 1Q19. The investment is part of the cement producer's plans to expand its overall production capacity to 20Mta, while the Muscat Securities Market-listed firm is also scouting for acquisitions in Africa, according to the Hindu Business Line. "We are in discussion...

Raysut Cement 9M profit falls

15 October 2018, Published under Cement News

Raysut Cement Co reported revenues in the first nine months of 2018 were OMR64m (US$166.5m), representing a17 per cent increase when compared with OMR54.7m in 9M17. However, the company noted a significant drop in profit to OMR2m vs OMR6.7M in 9M17.

Raysut Cement suspends production after Cyclone Mekuna damage

30 May 2018, Published under Cement News

Raysut Cement will shut down production in Oman for up to 10 days after the Tropical Cyclone Mekuna hit the company's Salalah factory on 25 May. Heavy rain and strong winds caused "external damage" and waterlogged the company's production facilities and stock yard. Raysut Cement's CEO, Joey Ghose, said the company's buildings had been battered by Cyclone Mekuna for two days. He said it was unclear how extensive the damage was, but added that Raysut insurers had been contacted over the issu...

Pioneer Cement appoints new General Manager

02 May 2018, Published under Cement News

Raysut Cement Company has appointed Ashley Bryan as General Manager of Pioneer Cement Industries LLC, UAE, which is a wholly-owned subsidary of Raysut Cement Company, effective April 2018. Mr Bryan ,49, will report to Raysut’s CEO, Joey Ghose. Ashley Bryan brings with him over 30 years of experience of the cement industry, having begun his career in 1988, and has worked in various engineering and operational roles in the UK, Nigeria and southeast Asia. He has an active interest in organisa...

Raysut Cement records 8% increase in revenue

13 April 2018, Published under Cement News

Oman’s Raysut Cement Co has announced a 8.2 per cent YoY increase in revenue for the first quarter of the financial year, to OMR21m (US$54.62m) from OMR19.4m. However, total profit attributable to shareholders has fallen 85 per cent to OMR450,149, compared to OMR3.1m of the year-ago period. While sales volumes increased approximately 32 per cent during the period, a lower sales realisation adversely affected gross profit, according to Reuters.