Tourah Cement sees net loss widen 205%
Egypt’s Tourah Cement has seen its net losses widen 204.7 per cent YoY for the first six months of 2019, surging to EGP461.25m (US$27.78m) from EGP2.24m in the 1H18. On a quarte...
Egypt
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Arabian Cement Co signs petcoke supply deal
Egypt’s Arabian Cement Co has signed an agreement with Egyptian Refining Co, a subsidiary of Qalaa Holdings, for the supply of 272,155t of petcoke. "This agreement aligns with A...
Rimco Investments increases share ownership in Suez Cement
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 wa...
El Nahda Cement partially stops production line at Qena plant
Egypt's El Nahda Cement has decided to partially suspend the main line at its 5500tpd Qena plant for nearly six months. The actions come as a result of a decrease in sales and a...
South Valley Cement posts loss in 1Q19
Following reports that its total profit fell 54 per cent in 2018 , Egypt-based South Valley Cement has announced that it made a loss in the first three months of 2019. The compa...
Egyptian cement sales decline 8% in 1Q19
Total cement sales in Egypt declined 7.7 per cent QoQ to 10.9Mt during the first quarter of 2019, while production decreased 8.1 per cent QoQ to 11.2Mt, according to the Central...
Tourah Cement halts production due to oversupply
Egyptian cement producer Tourah Cement, owned by Heidelberg Cement, has suspended production as a result of oversupply in its domestic market. The company is considering liquida...
Sama Cement reduces stake in Sinai Cement
Sama Cement has announced that it has sold around 2m shares in Sinai Cement, decreasing its stake in the company from 9.689 per cent to 6.75 per cent, according to a statement r...
Vicat's Egyptian market share targeted to reach 5%
Vicat has a market share of under three per cent in Egypt, but Tamer Magdy, CEO of Vicat Egypt, claims that the company will achieve profit early next year, while it aims to tak...
Can Titan expect a better 2019?
This week Titan Group announced its first-quarter 2019 results which saw a 12.5 per cent rise in turnover but also a EUR6.2m loss appearing on the company’s profit and loss acco...