Cement News tagged under: Suez Cement Co

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Egyptian cement producers seek market solutions

16 August 2019, Published under Cement News

This week HeidelbergCement-owned Suez Cement and Tourah Cement reported their 1H19 results with further declines in sales, leading to wider losses for both Egyptian cement producers. The poor results are part of the continuing trend in which Egyptian cement sales fell by eight per cent in 1Q19 . In June 2019 Tourah Cement suspended cement production because of the financial distress caused by oversupply in the market. The company, which was founded in 1927 as Egypt's first cement plant...

Suez Cement records EGP293m net loss in 1H19

15 August 2019, Published under Cement News

Egypt’s Suez Cement recorded a net loss of EGP293.4m (US$17.69m) for the first half of 2019, down from an EGP238.2m profit in the year-ago period. Revenues declined 16.7 per cent YoY to EGP3.3bn from EGP3.96bn. Standalone losses widened to EGP590.5m, compared to EGP165.6m in the 1H18.

Rimco Investments increases share ownership in Suez Cement

12 July 2019, Published under Cement News

Rimco Investments has purchased around 474,000 shares in Suez Cement (HeidelbergCement Group) raising its shareholding from 8.85 to 9.11 per cent. The total value of the deal was EGP3.79m (US$228,000) at an average price of EGP8/share. The Suez Cement Co includes the plants of Suez, Kattameya, Tourah and Helwan in Egypt.

Kattameya plant burns biomass for the first time

11 April 2019, Published under Cement News

The Suez Cement Kattameya plant (HeidelbergCement Group) has used waste as alternative fuel (AF) in its main burner for the first time this week. The Kattameya plant’s team successfully burnt waste as an AF in the main kiln burner and reduced dependence on fossil fuel by around 10 per cent of the total fuel used. This is in addition to substituting 15 per cent of fuel in the calciner, resulting in a total thermal substitution rate (TSR) of 25 per cent. Therefore, waste and biomass burnt...

HeidelbergCement

02 October 2018, Published under Cement News

HeidelbergCement subsidiary Suez Cement Co, which came with the purchase of Italcementi, has agreed in principle to sell the El Minya white cement works to Emaar Industries Company. The El Minya works was completed in 1991 and has a capacity of 1Mta and is located in the Cairo area, to the north of the city. It is held through Helwan Cement Co, which first has to split out its white cement operations. That procedure is likely to take some months. Emaar Industries is controlled by the D...

New owners for El Minya white cement

14 September 2018, Published under Cement News

This week CemNet reported that Helwan Cement's 1Mta white cement plant in Egypt's Minya governate is being sold to Emaar Industries Co of UAE, subject to regulatory approval. The transaction will take place following the demerger of the plant from Helwan Cement, which also operates 4.1.Mta of grey cement capacity. Entered into production in 1991, the plant produces two types of white cement – CEM I 52.5 and CEM II B-L 42.5N. Dubai-based Emaar Industries & Investments will be new to the E...

Egypt's National Cement Co goes into liquidation

12 September 2018, Published under Cement News

Egypt's Ministry of Public Sector has announced that the National Cement Co (NCC) has fallen into liquidation. NCC's kiln lines had been shutdown since 31 May 2018. Minister Hisham Tawfik announced that the company had lost EGP900bn (US$50bn) in the past year. The factory is also heavily in debt, owing EGP4.4bn to the Egyptian Natural Gas Holding Co and EGP700m to the Egyptian Electricity Co. In the most recent financial year, the company's losses were the highest among all pu...

Helwan Cement to sell white cement plant

11 September 2018, Published under Cement News

Egypt’s Suez Cement has announced that its subsidiary, Helwan Cement Co, has entered into an agreement with Emaar Industries to sell its 1Mta white cement plant in Minya Governorate. The transaction is expected to take place after the facility is de-merged from Helwan Cement. The sale is part of the company’s restructuring strategy to improve its financial position.

Suez Cement reports net profits of EGP250m in 1H18

13 August 2018, Published under Cement News

Suez Cement reported EGP250.59m (US$14m) in net profits for the six-month period ended June, against a loss of EGP40.61m in the year-ago period, according to a filing to the Egyptian Exchange (EGX). Sales amounted to EGP 3.96bn at the end of June, versus EGP 3.11bn in 1H17. Profits climbed to around EGP 156.62m in 1H18, up from EGP20.81m in the same period a year earlier. Suez Cement previously reported an EGP128.15m in profits for the three-month period ended March, versus EGP41.53m in th...

Egypt: mixed 9M16 results for Suez and Tourah

24 October 2016, Published under Cement News

Suez Cement reported a net profit of EGP49.6m (US$5.59m) for the first nine months of 2016. For the third quarter the company saw losses of EGP-66.9m, an increase from EGP-63.3m the previous year. Tourah Cement improved its net loss by 50.4 per cent from EGP-107.203 in 9M15 to EGP-53.149m in Jan-Sep 2016, according to a bourse filing. In the third quarter the company reported a 43 per cent fall in net loss to EGP21.3m, compared with EGP37.4m in 3Q15.