Cement News tagged under: Saudi Arabia
Yanbu Cement 1Q13 net profit surges on expansion, Saudi Arabia09 April 2013, Published under Cement NewsYanbu Cement announced that, according to preliminary figures, its net profit for the first quarter of 2013 surged by 70 per cent YoY, on the back of increased capacity. Net profit for the three months to the end of March 2013 rose to SAR247m (US$65.9m) according to the preliminary data. Earnings per share stood at SAR1.57, up from SAR0.92. "The increase in the current quarter profit compare with the same quarter for the previous year due to increase in sales quantity due to start Line... |
Northern Region Cement halts production, Saudi Arabia25 March 2013, Published under Cement NewsSaudi Arabian cement producer Northern Region Cement (NRCC) has had to halt operations following the ordered closure of the road leading to the plant which is preventing truck access. The road has been closed due to NRCC’s failure to construct an upper bridge road connecting the plant with the international highway, according to reports by Al-Eqtisadiah. Sources told the daily newspaper that NRCC was required to construct the bridge road by authorities to safeguard others driving in the a... |
Yamama Saudi Cement to upgrade Riyadh works22 March 2013, Published under Cement NewsYamama Saudi Cement Company is to carrying out the rehabilitation of an existing cement plant in Riyadh. This project is in Saudi Arabia. It aims at replacing five old clinker lines to increase the production capacity to 10,000tpd. The scheme is currently under planning and no expected schedule has been disclosed. A feasibility study has already been completed. |
Eastern Province Cement announces new grinding project, Saudi Arabia18 February 2013, Published under Cement NewsSaudi 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 201214 February 2013, Published under Cement NewsSaudi 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 Arabia06 February 2013, Published under Cement NewsSaudi-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% YoY28 January 2013, Published under Cement NewsSaudi 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 Arabia23 January 2013, Published under Cement NewsSaudi-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 Arabia08 January 2013, Published under Cement NewsSaudi 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 Arabia07 January 2013, Published under Cement NewsSaudi-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... |