Cement News tagged under: Saudi Arabia

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Saudi Arabian cement sales decline in September

07 October 2021, Published under Cement News

The aggregate sales of 17 Saudi cement producers decreased by 11 per cent to 4.1Mt in September, from 4.6Mt in the same month last year, according to recent data issued by Yamama Cement Co. In terms of local sales, 12 companies witnessed a sales drop, led by Northern Region Cement Co with 45 per cent YoY. There were declines as well for Al-Jouf Cement Co and Umm Al-Qura Cement with -34 and -28 per cent YoY, respectively. Sales of United Cement Co remained unchanged at 141Mt. How...

Arabian Cement decides on court action over limestone dispute

24 September 2021, Published under Cement News

Arabian Cement Co of Saudi Arabia has filed a lawsuit against Emaar the Economic City to claim the remaining quantities of limestone it should have received in accordance with an agreement signed between the parties on 28 April 2012. Under the settlement, Emaar EC was committed to provide, free of charge, 50Mt of limestone needed for the cement company's manufacture from the dredging output extracted from the construction of the King Abdullah Economic City port, after obtaining the nec...

Al Jouf Cement extends SAR40m cement supply contract

07 September 2021, Published under Cement News

Al Jouf Cement Co extended has its cement supply agreement with Soliman bin Saleh Almohileb and his Sons Holding Co with a value of SAR40m (US$10.66m), according to a bourse filing. The new contract will run until 30 April 2022 and follows a SAR60m deal made on 21 December 2020, with Soliman bin Saleh Almohileb and his Sons Holding Co, Argaam reported.  Based in Al-Jaef, Saudi Arabia, Soliman bin Saleh Almohileb and his Sons Holding Co is a trading company that owns several read...

Arabian Cement records 2Q21 revenue of SAR233m

30 August 2021, Published under Cement News

Arabian Cement Co (ACC) registered a revenue for the 2Q21 of SAR233m (US$62m), a YoY increase of 66.9 per cent. The company achieved an 82.9 per cent YoY improvement in cement volume from   its Saudi Arabian operations and a 51.5 per cent YoY growth in revenue from outside the kingdom, according to Al Rajhi Capital. Cement sales volume for the 2Q21 reached 0.7Mt, 7.9 per cent higher than the research house's estimate. Gross profit and operating profit increased by 2.0x YoY and ...

Umm Al-Qura Cement appoints new CEO

25 August 2021, Published under Cement News

Saudi Arabia's Umm Al-Qura Cement Co has announced the appointment of Majid Tariq Salah Gharbawi as CEO, effective from 20 October.   Mr Gharbawi has more than 17 years of experience in the financial and banking sector. His professional career includes many administrative and leadership positions within private banks. He holds a Bachelor of Science in Business Administration, majoring in financial management, from the University of Southern California, in addition to many specialised cer...

Al Jouf Cement sees profit advance 25% YoY

20 August 2021, Published under Cement News

Al Jouf Cement has announced a 4.9 per cent YoY decline in revenue to SAR53.74m (US$14.34m) in the six months ended 30 June 2021, compared to SAR56.49m in the 1H20. However, the company's profit advanced 24.9 per cent to SAR19.68m from SAR15.75m.  

Saudi Cement buys 37% share of United Cement

17 August 2021, Published under Cement News

Saudi Cement Co has acquired a 37 per cent stake in United Cement Industrial Co (UCIC) for SAR28m (US$330,426), as announced in Saudi Cement’s 2Q21 company report. Accordingly, Saudi Cement increased its stake in the subsidiary from 63 to 100 per cent. The company purchased items of property and equipment for SAR24.94m in the 1H21, while additions to capital work in progress amounted to SAR9.35m. UCIC, which was established in 2013, operates a 2Mta integrated cement plant ...

Qassim Cement announces 10,000tpd new line

13 August 2021, Published under Cement News

Qassim Cement Co has announced a new 10,000tpd production line at its plant in Buraydah, Saudi Arabia, that will replace some of the current production lines. The project execution is expected to start in the 1H22, the cement producer reported. The cost of the project will be announced after completing studies. The project's financing options, and expected completion date, financial impact as well as production date will be announced in due course, the company added.

Saudi Cement sees 14% rise in profit

10 August 2021, Published under Cement News

Saudi Cement Co has posted a 14.1 per cent YoY rise in net profit to SAR86.4m (US$23.04m) in the quarter ending 30 June 2021, compared to SAR75.7m in the year-ago period. Revenue also climbed 17 per cent YoY to SAR348.1m from SAR297.5m in the 2Q20.

Northern Region Cement sees 27% rise in net profit

06 August 2021, Published under Cement News

Saudi Arabia’s Northern Region Cement has seen its net profit rise 26.9 per cent YoY to SAR52.9m (US$14.11m) in the January-July period of 2021, compared with SAR41.65m in the first half of the previous year. However, sales decreased 1.6 per cent YoY to SAR307.19m from SAR312.2m in the 1H20.