Cement News tagged under: Saudi Arabia
Yamama Cement sees June deliveries decline11 July 2014, Published under Cement NewsYamama Cement's June domestic deliveries reached 484,000t, a 5.5 per cent decline MoM and a 17.7 per cent YoY fall, according to NBK Capital. However, this figure was in line with NBK Capital's 1.5Mt estimate of the 2Q14 sales volume. Yamama Cement’s primary area of activity in Riyadh is still experiencing a slowdown in construction activity, on the back of the labour correction campaigns that were introduced by the Saudi government. The research house expects to start seeing improvement ... |
Najran launches waste heat recovery operations01 July 2014, Published under Cement NewsSaudi-based producer Najran Cement said launched operations of its waste heat recovery project yesterday. The company successfully completed the performance guarantee tests stated in its contract with Sinoma of China, according to local press reports. |
Saudi on course for full demand recovery in 4Q1423 June 2014, Published under Cement NewsSaudi cement sector is currently showing signs of recovery, with demand beginning to return to its normal levels, a new report by NCB Capital reveals. Mohamed Tomalieh, equity research analyst at NCB Capital, said: “The average YoY decline in sales since November 2013 stood at 7.9 per cent but sales in May 2014 increased 3.1 per cent YoY, the first increase since the end of the amnesty period for expats in November 2013. The recent growth supports our view of demand normalising in 3Q14, wi... |
Wartsila to supply Umm Al-Qura Cement Co power plant, Saudi Arabia19 June 2014, Published under Cement NewsWartsila has received an order to supply a turnkey power plant from Saudi-based Umm Al-Qura Cement Co. The contract for the 47MW facility will be located in the mountain desert close to Taif city. The equipment will be delivered by February 2015 on a fast-track basis and will enter commercial operation by October 2015. The power plant will serve a cement factory in extreme conditions of temperatures up to 50°C and an altitude above 1000m. It consists of five 20-cylinder Wartsila 32TS engin... |
Saudi Cement recommends dividend02 June 2014, Published under Cement NewsSaudi Cement Co’s board of directors has recommended paying a dividend of SAR3.5 per share for first six months of 2014, the firm said in a bourse filing on Sunday. Shareholders owning the company’s stock at the end of trading on 1 July will qualify for the dividend, which will be paid on 9 July the statement said.? Saudi Cement reported a 16 per cent drop in first quarter 2014 profit which it blamed on sagging local demand and losses from an associate company. |
Al Jouf completes supply agreement12 May 2014, Published under Cement NewsSaudi-Arabia based Al Jouf Cement said in a bourse statement today that it has completed supplying clinker and cement according to the contracts signed with Al-Rajhi Factory in Jordan. The company added that the contract value totals nearly SAR47m (US$12.5m). |
Loesche receives Saudi Arabian roller mill order07 May 2014, Published under Cement NewsUnited Cement Industrial Company (UCIC) has selected a Loesche LM 56.4 raw mill for its cement plant in Al-Sadiya, 150km south of Jeddah, Saudi Arabia. Tianjin Cement Industry Design and Research Institute Co Ltd Tianjin, part of China-based Sinoma International, signed the contract with Loesche for the delivery of a vertical roller mill to the Al-Sadiya plant. Loesche’s order includes the design engineering and supply of the raw mill that will grind cement raw material at a product rate o... |
Al Jouf first-quarter earnings drop, Saudi Arabia23 April 2014, Published under Cement NewsAl Jouf Cement posted a drop in earnings of about 40 per cent YoY to SAR15m (US$4m), missing Al-Rajhi Capital’s estimates of SAR 17.8m but exceeding consensus estimate of SAR13m, the research house said in a recent report. Al-Rajhi Capita believes the cement producer’s weak performance was on account of the declining sales volumes given the stiff competition it faces from competitors in the northern region, coupled with the falling demand due to the slowdown in construction activities. |
Najran secures finance for waste heat project21 April 2014, Published under Cement NewsNajran Cement has signed a SAR150m Sharia-compliant loan facility with Banque Saudi Fransi, aimed at financing the company’s waste heat recovery project. The loan has a maturity period of five years (April 18, 2014 until December 31, 2019). It will be repaid in six quarterly instalments at SAR25m each, starting from September 30, 2018 until December 31, 2019. |
Saudi: Arabian Cement quarterly net profit up 6.2% YoY18 April 2014, Published under Cement NewsSaudi-based Arabian Cement Company (ACC) posted a SAR167.1m (US$44.6m) net profit for the first quarter of 2014, up 6.2 per cent from SAR157.3m a year ago. Earnings per share (EPS) stood at SAR 2.09, compared with SAR1.97. |