Cement News tagged under: Suez Cement

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Suez Cement strike action, Egypt

21 March 2012, Published under Cement News

Egyptian cement producer, Suez Cement, said that workers in two of its factories started strike action on 14 March. The strike has halted shipping at the Suez and Katamiya plants, although production has not been affected. (Bloomberg)

Suez Cement reports 54% decline in 2011 net profit

24 February 2012, Published under Cement News

Suez Cement of Egypt posted a 54 per cent decline in 2011 due to political unrest and uncertainty.  Net income fell to EGP568.6m (US$94m) from EGP1.24bn in 2010, the company said. With visibility in the Egyptian market still fairly poor, the company said in a statement to the Egyptian bourse: “The outlook is still very uncertain in the current political context and before a stable government can be established.”