Cement News tagged under: Raysut Cement

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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.

Duqm to receive new cement plant in 2020

09 October 2017, Published under Cement News

The SEZ Authority in Duqm (Sezad) and Al Wusta Cement Company, a partnership of Oman Cement Company and Raysut Cement Company, have signed a land use deal to build Oman’s third cement plant at the Duqm Special Economic Zone (SEZ), reports Trade Arabia. Under the terms of the agreement, the Al Wusta Cement Company will acquire a 500,000m 2 plot within the heavy industrial zone on lease for 50 years, renewable for a further period, reported Oman Observer. Al Wusta Cement said that the co...

Raysut shareholders agree to sell Oman Portuguese Cement Products

03 August 2017, Published under Cement News

Raysut Cement shareholders have approved a proposal to sell Oman Portuguese Cement Products Co to Opal Development. The decision was taken at an extraordinary general meeting of the company held on 25 July 2017, Raysut Cement said in a disclosure statement posted on the Muscat Securities Market website. Meanwhile, earlier this month, Raysut Cement had announced that its net profit for the first six months of 2017 fell 64.2 per cent to OMR4.62m (US$12m) from OMR12.91m for the same pe...

Raysut receives offer for its share in Oman Portuguese Cement Products

16 May 2017, Published under Cement News

Raysut Cement has received an offer for its share in Oman Portuguese Cement Products from a local company, the producer disclosed in a filing to the Muscat Securities Market on Monday. As part of a diversification strategy, in 2001 Raysut moved into ready-mix concrete and other cement products through its 50 per cent ownership in Oman Portuguese Cement. "We would like to inform our shareholders that Raysut Cement Co SAOG has received an offer from one of the local companies to buy the sh...

Oman: Raysut Cement gross profit falls 39% in 1Q17

18 April 2017, Published under Cement News

Raysut Cement posted a 38.7 per cent decline in gross profits in 1Q17 as profits reached OMR6.29m (US$16.3m), down from OMR10.26m in 1Q16, according to the company’s statement to the Muscat Securities Market. Revenues were down 23.2 per cent to OMR19.43m in the first three months of the year, copared to OMR25.3m in 1Q16. Profit before tax reached OMR4.56m in 1Q17, a 48.6 per cent YoY decrease from OMR8.87m.

Oman: Raysut Cement CEO quits

15 December 2016, Published under Cement News

Raysut Cement Company announced yesterday that its CEO, Salem bin Alawi Mohammed Baabood, has resigned. The Board of Directors accepted Mr Baabood’s resignation at a meeting on Tuesday. Mohammed Ahmed Aideed is to assume the functions and duties of group CEO until a new CEO is appointed.

Raysut: Barwaaqo Cement makes steady progress

08 November 2016, Published under Cement News

Raysut Cement’s cement plant project in Berbera, Somaliland, is progressing well, according to company sources. Barwaaqo Cement Co has completed soil investigation studies and is moving to select contractors. “The Engineering-Procurement-Construction (EPC) contractor shall be selected shortly. The project is expected to be complete within 12 months from the date of selecting the EPC contractor,” Ahmed bin Yousuf bin Alawi al Ibrahim, chairman of the company’s Board of Directors. The Be...