Cement News tagged under: Saudi Arabia

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Yanbu Cement full-year net profit rises 14.3%

07 January 2014, Published under Cement News

Yanbu Cement Co’s net profit rose 14.3 per cent YoY to SAR832m (US$219.4m) in 2013, the company announced in a bourse filing. Operating profit increased to SAR847m from SAR757m in 2012. The company attributed the rise to higher sales without giving exact figures. The Saudi-based producer reported earnings per share of SAR5.23, up from SAR4.57.

Saudi slowdown set to continue

06 January 2014, Published under Cement News

The current slowdown being seen in the Saudi Arabian cement market due to labour shortages is set to continue in the short-term, NCB Capital has cautioned. Saudi cement sales declined by 15 per cent in November 2013 YoY following the expulsion of 2m illegal expatriate labourers. The crackdown led to suspension of construction projects and delays in the transportation of cement and as a result, NCB expects the market to be affected over the next 4-6 months Last week, Zamil Al Mugren, chairm...

Sharp slowdown in Saudi demand

30 December 2013, Published under Cement News

Cement demand in Saudi Arabia has considerably slowed through 2013, effectively boosting clinker stocks to a record high level. After recording a high growth rate of some 10 per cent in 2012, expansion of Saudi’s cement market decelerated to around three per cent in 2013, according to Zamil Al Mugren, chairman of Saudi committee for national cement companies, quoted in the daily Aleqtisadiah.  He said sales by the country’s 15 cement companies were cut by almost 30 per cent after the gove...

Kiln to close at Saudi Arabian Cement Co

20 December 2013, Published under Cement News

Saudi cement producer and trader Al Jouf Cement said in a bourse filing it will shut down its production Kiln line 6 for scheduled maintenance from 21 December until 7 January. The cement company said that the stoppage will not impact its ability to meet contractual obligations to clients, adding it will announce its cost later.

Al Jouf begins trial production of new line, Saudi Arabia

16 December 2013, Published under Cement News

Al Jouf Cement has launched trial operations of its second production line, the Saudi-based cement producer said in a bourse statement. The new kiln line has a clinker capacity of 5000tpd. In late October, the company had signed an agreement with Al Rajhi Bank for a SAR400m (US$106.7m) loan to partially finance the construction of the new line, to be repaid by June 2019.

Saudi November sales drop 17%

11 December 2013, Published under Cement News

Saudi cement sales fell 17 per cent in November 2013 to 3.65Mt compared to 4.37Mt in the same period in 2012. All companies reported a decline in sales with the exception of Northern Province Cement, Arabian Cement and Madinah Cement which saw increases of 58, 24 and 20 per cent, respectively, the report, based on data released by Yamamah Cement Company (YCC), said. Riyadh Cement and Al Jouf Cement posted the largest drop in November at 45 and 44 per cent, respectively, the report said...

China National Building Materials (CNBM)

02 December 2013, Published under Cement News

China National Building Materials (CNBM) has reported a 37 per cent rise in revenue in 9M13. Total operating revenue stands at US$13.4bn, compared to US$9.8bn in the same period last year. However, total operating costs have also risen, up 41 per cent from US$9bn in 9M12 to US$12.7bn in 9M13. As a result, operating profit has fallen six per cent by US$772m and net profit is down by three per cent at US$789m. Elsewhere, China National Building Material’s Import and Export Corporation (CN...

Saudi October sales rise by 2%

26 November 2013, Published under Cement News

Saudi cement sales rose by two per cent during October 2013 to 4.91Mt compared with 4.13Mt in the same period a year ago. Production for the month reached 4.24Mt compared to 4.22Mt in October 2013, a report, based on data released by Yamamah Cement Co (YCC), said. Clinker production rose by 19 per cent to 4.7Mt against 3.98Mt in the same month the year before. Local deliveries of clinker reached 54,000t in October, which were exclusively made by Northern Region Cement Co. Cement impor...

Southern Province signs contract for new line at Bisha works

11 November 2013, Published under Cement News

Southern Province Cement Co's (SPCC) has signed a contract for the construction of a second production line at its Bisha cement works in Saudi Arabia, the company said in a bourse filing. The new production line will be built by Chinese contractor CNBM at a cost of SAR713m (US$190.1m) and take 20 months to complete. SPC said it will use a combination of Islamic financing and own funds to finance the project.

Significant rise in Saudi Arabia clinker imports

04 November 2013, Published under Cement News

Saudi cement companies have reported a significant rise in clinker imports over the first three quarters of the year while cement exports decline. Clinker imports totalled 1,925,000t during 9M13 compared to 399,000t in the same period of last year, an increase of 382.4 per cent, according to a report, prepared by Al-Eqtisadiah daily. Some 39,000t of cement was imported over the first nine months of the year. Exports, on the other hand, fell by 55 per cent to 245,000t in the nine months ...