Cement News tagged under: Saudi Arabia
Al Jouf Cement to convert second line to white cement production24 April 2019, Published under Cement NewsSaudi Arabia’s Al Jouf Cement Co has signed a non-binding memorandum of understanding with Riga Co to convert its second line to the production of white cement. The line, which to date produced grey cement, reportedly entered trial production in 2013 and currently has a clinker capacity of 5000tpd. The company has stated that the agreement will enter into force on the date it is signed for a period of six months. |
Qassim Cement announces 2% drop in 1Q19 net profit23 April 2019, Published under Cement NewsSaudi Arabia’s Qassim Cement has announced that its net profit for the 1Q19 has fallen 2.1 per cent YoY to SAR56m (US$14.93m) from SAR57.2m. The company also reported that its sales for the first quarter increased 3.7 per cent to SAR153.4m, compared with SAR147.9m of the year-ago period. |
Saud Suliman Al Juhani new Tabuk Cement board chairman12 April 2019, Published under Cement NewsSaudi Arabia-based Tabuk Cement Co has appointed Saud Suliman Al Juhani as the new chairman of the board, effective 14 April 2019. He replaces Dr Saeed Obaid who stepped down from the post due to other business commitments, said the company in a filing to the Saudi bourse, Tadawul. The company board also appointed Khalid Al Angari as the new vice chairman. The current board term ends on 25 January 2020. |
HeidelbergCement makes further progress with portfolio optimisation09 April 2019, Published under Cement NewsHeidelbergCement’s subsidiary Italcementi has signed contracts with Buzzi Unicem and Colacem regarding the disposals of cement plants in the northern and central region of Italy. The involved parties agreed not to disclose details of the transactions for the time being. “These divestments are part of our action plan to accelerate our portfolio optimisation,” said Dr Scheifele, chairman of the Managing Board of HeidelbergCement. “We are well on our way to reach our target of EUR1.5bn of d... |
Tabuk Cement wins clinker export order to Yemen22 March 2019, Published under Cement NewsTabuk Cement of Saudi Arabia has won an order to export 500,000t of clinker to Golden Oil Co in Yemen. The contract will conclude by the end of 2019, according to a bourse statement. The financial impact will be reflected in Tabuk Cement's financial business report in the 2Q19. Tabuk Cement operates an integrated cement plant at Duba port producing 1.2Mta of cement. |
Qassim Cement to export 120,000t of cement to Kuwait21 March 2019, Published under Cement NewsSaudi Arabia’s Qassim Cement Co has signed an agreement with Kuwait-based Al-Arada Building Materials Co to export 120,000t of cement. While no value for the deal has been released, the related financial impact is expected to show later in the year. The deal came into effect on 1 March and will be valid until the end of 2019, according to a bourse statement. |
Northern Region Cement posts 75% profit fall in 201821 March 2019, Published under Cement NewsSaudi cement producer Northern Region Cement saw a 75 per cent drop in its net profits to SAR13.09m (US$3.5m) in 2018 from SAR52.95m in the previous year, according to data published on the Saudi Stock Exchange. The company attributed the fall to strong competition in Saudi Arabia and Jordan, which put downward pressure on prices. In the fourth quarter of 2018, profits declined to SAR13.33m from SAR15.41m in the 4Q17, according to Mubasher. In the 3Q18 the company reported a 60.4 per cen... |
Eastern Province Cement reports 35% fall in net profit20 March 2019, Published under Cement NewsSaudi Arabia’s Eastern Province Cement Co has reported a 34.6 per cent YoY profit decline after zakat and tax, falling to SAR70m (US$18.66m) from SAR107m of 2017. The company attributed the decrease to a drop in sales of cement, precast concrete and higher zakat provisions, according to a statement to the country’s stock exchange. In the 4Q18 profit surged 225 per cent YoY to SAR26m, compared to SAR8m of the previous year. |
Cement sales rise by 16% in Saudi Arabia in February18 March 2019, Published under Cement NewsCement and clinker sales in Saudi Arabia rose 15.7 per cent YoY to 4.24Mt (including exports) in February 2019 compared to 3.67Mt in the previous year. Clinker inventory increased 17.6 per cent YoY, but fell one per cent MoM to 41.88Mt in February 2019. Cement dispatches, however, jumped 9.3 per cent YoY, says Aljazira Capital. Meanwhile, the total utilisation rate of Saudi cement sector declined to 52.8 per cent in February compared to 61.4 per cent in the same period last year. ... |
Southern Province Cement reports fall in 2018 profit11 March 2019, Published under Cement NewsSaudi cement producer Southern Province Cement Co reported a xx per cent drop in its net profit (after tax and zakat) to SAR195m (US$52m) in 2018 from SAR370m the previous year. Sales fell from SAR1.06bn in 2017 to SAR888m in 2018 as sales prices decreased. |