Cement News tagged under: UAE
JSW Cement expects UAE unit to be completed by January 202029 November 2019, Published under Cement NewsJSW Cement’s clinker production unit Fujairah, UAE, is expected to be completed by the end of January 2020, according to an interview with the Hindu Business Line. Parth Jindal, managing director of JSW Cement, noted that Ultratech and Ambuja send clinker from Gujarat to be ground near Mumbai. However, the freight from Gujarat and Fujairah to Mumbai is the same because they send it in small vessels and JSW plans to deliver it in big barges. The US$110m project will be the main source of... |
Arkan sees increase in net profit for the 9M1908 November 2019, Published under Cement NewsUAE-based Arkan Building Materials Co has recorded a net profit of AED36.13m (US$9.8m) for the first nine months of 2019, compared to AED10.2m in the corresponding period last year. However, group revenue declined 6.1 per cent YoY to AED675.50m from AED719.71m, on the back of increased competition and pressure on prices. "Achieving optimum efficiency across our business remains our utmost priority as we continue to navigate through this challenging business cycle," said Jamal Salem Al Dhah... |
RAK White Cement announces 29% net profit rise05 November 2019, Published under Cement NewsUAE-based RAK White Cement saw its net profit increase 28.6 per cent to AED17.89m (US$4.8m) during the 9M19, compared to AED13.91m in the year-ago period. Sales advanced 5.9 per cent to AED180.16m in the first nine months of 2019 against AED170.08m in the 9M18. |
Sharjah Cement elects new chairman14 October 2019, Published under Cement NewsUAE-based Sharjah Cement has elected Othman Mohammed Sharif Abdullah as its new chairman and board member, according to a bourse statement on Sunday. The election was made during the company’s board meeting on Saturday, 12 October 2019. |
RAK Cement cancels cement plant acquisition plans11 September 2019, Published under Cement NewsUAE-based Ras Al Khaimah Cement has reportedly cancelled a deal to acquire a cement plant and quarry as financing could not be arranged, according to Reuters. While the name of the plant and quarry were not released in the statement, the company had previously planned to acquire the Newtech cement plant and Al Banna quarry in Fujairah. However, the deal, valued at AED450m (US$122.5m), was pushed back to the 2Q19 due to incomplete financing procedures. |
Arkan sees 55% net profit increase in 1H1906 August 2019, Published under Cement NewsUAE-based Arkan Building Materials has announced a 55 per cent YoY increase in net profit to AED33.8m (US$9.2m) for the 1H19. The positive result has been attributed to cost management schemes, the award of an insurance claim and proceeds from the Emirates Cement Factory sale. However, group revenue declined 8.9 per cent to AED458.9m, compared with AED503.8m in the 1H18. The fall was a result of market price pressure as export markets saw a slowdown, according to the company. |
Sharjah Cement sees 85% drop in profit for 1H1906 August 2019, Published under Cement NewsUAE-based Sharjah Cement has seen an 84.7 per cent YoY fall in profit to AED2.54m (US$691,626) for the 1H19, compared with AED16.55m in the year-ago period. The company also reported an 8.5 per cent decline in revenue to AED291.43m from AED318.48m. In the 2Q19, profits slipped 60.2 per cent to AED1.74m from AED4.37m. Revenue decreased 5.1 per cent to AED138.31m, against AED145.81m in the 2Q18. |
Gulf Cement Co posts net loss in 2Q1902 August 2019, Published under Cement NewsUAE-based Gulf Cement Co has posted an AED598,270 (US$162,905) net loss in the 2Q19, compared to an AED8.4m profit in the year-ago period. Sales costs increased to AED107m from AED101m. In the first half of 2019, profit saw a considerable decline of 84 per cent YoY to AED856,500. The company attributed the fall to a two per cent decrease in revenue and a 25 per cent rise in general, administrative and selling expenses to AED12m. |
UAE cement prepares for Expo 202026 July 2019, Published under Cement NewsThis week CemNet reported on the cooperation agreement between two cement producers in the UAE – Al Ain Cement Factory (Arkan Group) and National Cement Factory. This is the latest of several trends that suggest that cement production in the UAE is changing with manufacturers looking to put themselves on firmer footings in the build-up to Expo 2020 (20 October 2020-10 April 2021). In a recently-published report, the Dubai government recently highlighted that the Expo 2020 would contribute... |
UAE cement producers sign cooperation agreement24 July 2019, Published under Cement NewsAl Ain Cement Factory (Arkan Cement Group) and National Cement Factory, owned by Lttihad International Investments, will collaborate on as 'partners of choice' under a new agreement signed by both. The agreement will see opportunities for better clinker supply, and reduced production and logistical costs. Abdulaziz Asad, Arkan Cement's chief operating officer, said the "new agreement is a cooperation of the two largest cement and steel slag producers in Abu Dhabi." "With this collabora... |