Cement News tagged under: Saudi Arabia

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Eastern Province Cement announces new grinding project, Saudi Arabia

18 February 2013, Published under Cement News

Saudi Arabia-based Eastern Province Cement Co (EAPCC) has said it will install a new 150tph grinding mill at a cost of SAR82m (US$21.m). The company said on Saturday it has agreed a deal with a contractor for the new project including engineering work and equipment supply. Completion is expected in 14 months. The name of the contractor currently remains undisclosed. EAPCC said the mill project will be self financed and should start contributing to the company’s results by the second qu...

Saudi Cement net profit rises 32.3% in 2012

14 February 2013, Published under Cement News

Saudi Cement Company said today its net profit for 2012 rose 32.3 per cent YoY to SAR1.1bn (US$293m) thanks to higher demand. Earnings per share stood at SAR7.2, up from SAR5.43 a year earlier. The operating profit rose to SAR1.14bn in the 12 months to December 2012 from SAR865.1m in 2011.

Northern Region Cement stocks soar on day one of trading, Saudi Arabia

06 February 2013, Published under Cement News

Saudi-Arabia based cement producer Northern Region Cement tripled on its first day of trading in Riyadh, Bloomberg reports. The stock soared to SAR30 at the close in the Saudi capital from the initial public offering of SAR10 each, according to data compiled by Bloomberg. About 234 million shares were traded, comprising more than half of the volume traded on the benchmark Tadawul All Share Index yesterday. Northern Region is the 13th cement company to sell shares in the kingdom after N...

Yanbu Cement full-year net profit rises 36% YoY

28 January 2013, Published under Cement News

Saudi cement producer Yanbu Cement Co (YCC) reported a surge in full-year net profit thanks to increased demand and a new production line as top capacity players benefit from the country's boom period. The company's net profit rose 36 per cent YoY in 2012 to SAR720.5m (US$192.1m). Earnings per share (EPS) stood at SAR 6.86, up from SAR 5.04. Local cement producers have been riding high on government projects which puts emphasis on improving education, social services and basic infrastruc...

Dr Ahmed Zugail returns to Yanbu Cement, Saudi Arabia

23 January 2013, Published under Cement News

Saudi-Arabia based Yanbu Cement Company (YCC) has announced that Dr Ahmed A Zugail has taken up his position as new Director General/CEO, effective 1 September 2012. Dr Zugail succeeds Dr Saud Islam following his recent retirement. Dr Zugail, a Mining Engineer with a doctorate in Mineral Economics from the Colorado School of Mines, USA, joins YCC with a rich experience in the cement industry. His previous role was as President/CEO of Najran Cement for six years. The new position at YCC...

Yamama Cement 2012 sees 2012 net profit rising 10.5%, Saudi Arabia

08 January 2013, Published under Cement News

Saudi Arabia cement producer Yamama Cement Co’s estimated net profit for 2012 rose to SAR818m (US$218.1m), a rise of 10.5 per cent from SAR740m a year ago. Estimated gross profit rose to SAR914m from SAR809m.

Northern Region Cement set to launch IPO, Saudi Arabia

07 January 2013, Published under Cement News

Saudi-Arabia based cement producer Northern Region Cement Company (NRC) plans to sell 90 million shares in an Initial Public Offering (IPO) starting tomorrow. The company plans to sell 90 million shares, or 50 per cent of its capital at SAR10 (US$2.7) each over the 8-14 January 2013 period. NRC has appointed ANB Invest, the investment arm of the Arab National Bank, to act as the lead manager and bookrunner for the IPO. The deal was signed by NRCC Board Chairman Sulaiman bin Salim Al-Ha...

Saudi Cement Co 3Q12 net profit rises, Saudi Arabia

07 January 2013, Published under Cement News

Saudi Cement Company (SCC) said its net profit for the nine months through September 2012 surged in the first nine months of 2012 compared to the same period of the previous year. Net profit rose 30.5 per cent YoY, to SAR825.3m (US$220.1m) from SAR 619.9m a year earlier. Earnings per share (EPS) stood at SAR 5.39, up from SAR 4.05. Operating profit increased to SAR842m for the first nine months of 2012, from SAR645.1m a year ago. For the third quarter alone, the company reported...

Southern Province signs contract for power plant expansion, Saudi Arabia

07 January 2013, Published under Cement News

Southern Province Cement Co (SPCC) has signed a contract with Wartsilla for the expansion of the former’s power generating plant at the Tahama works. The contract was signed by HH Prince Abdullah bin Mosa’ad bin Abdulrahman Al-Saud, SPCC chairman, with Wartsilla to add four diesel units operating by heavy fuel with a total capacity of 32MW.

Hail Cement signs loan agreement, Saudi Arabia

14 December 2012, Published under Cement News

Saudi Arabian cement company Hail Cement announced that it has signed a loan agreement with the Saudi Industrial Development Fund on 12 December 2012. The loan amount is SAR300m (US$80m) repayable in 20 half-yearly unequal installments as scheduled and approved against mortgage of all fixed assets. The period of the loan is 12 years, with payment starting 2015. The company is using the loan to fund the development of a new cement factory in the city of Hail, according to a statement ma...