Suez Cement expected to increase stake in Tourah Portland
Egypt’s Suez Cement is expected to submit a tender offer to acquire up to 100 per cent of the issued capital of Tourah Portland Cement for EGP7.18 (US$0.45) per share, accordin...
Egypt
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Egypt's cement sector sees a 60% fall in cement demand
The cement industry in Egypt is expected to come under heightened strain following a 60 per cent decline in cement demand for the first time in the sector's history, says Prof...
Egyptian Cement to inaugurate plant in 2021
Egyptian Cement Group has announced plans to inaugurate a new plant in 2021, according to Ahmed Abou Hashima, CEO. The facility is located in Sohag and has a total investment c...
Arabian Cement sets sales targets
Egypt’s Arabian Cement Co has set a domestic sales target of 3.94Mt of cement in 2020, the same value as last year, according to Sergio Alcantarilla, company CEO. Despite ou...
Tourah Cement loss contracts 67% in 1H20
Tourah Cement reported a 67 per cent fall in net losses to EGP-151.97m (US$-9.6m) in the 1H20 when compared with EGP461.25m reported in the 1H19, according to Mubasher. Howev...
Suez Cement consolidated losses increase in 1H20
Egypt-based Suez Cement sales decreased to EGP2.7bn (US$170.9m) during the January-June 2020 period, down from EGP3.3bn in the 1H19. The company’s consolidated financial stat...
Sinai Cement announces widening net loss in the 1H20
Egypt’s Sinai Cement Co has seen its consolidated net loss widen to EGP247.6m (US$15.6m) in the first half of 2020, against EGP187.2m in the year-ago period. Its standalone net...
Egyptian cement demand has fallen 20% since May
Since Egypt's Ministry of Local Development (MLD) suspended building licences for six months in the governorates of Greater Cairo (Cairo-Giza-Qalyubia), Alexandria, and provinc...
Misr Beni Suef Cement records 84% rise in profit
Egypt’s Misr Beni Suef Cement Co has seen its profit rise 84 per cent YoY to EGP29.5m (US$1.85m) during the second quarter of 2020, against EGP16m in the 2Q19. The company a...
Misr Cement Co sees 330% surge in net profit
Egypt’s Misr Cement Co (Qena) has reported a 330 per cent surge in consolidated net profit to EGP63.25m (US$3.96m) for the first half of 2020, against EGP14.69m in the 1H19. ...