Cement makers hit by infrastructure slump in emerging markets
Cement producers have been sliding on the financial stock exchanges as emerging market bonds and equities tumble, according to the Financial Times. Many of the region’s building...
Egypt
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Suez Cement six-month net profit ahead, Egypt
Suez Cement has reported a 34 per cent increase in first-half net profit thanks to cost reduction and efficiency improvement efforts.
Italcementi subsidiary signs wind farm agreement, Egypt
The Egyptian Electricity Transmission Company signed a contract with Italgen, a subsidiary of Italcementi Group, to build a wind farm to help meet Suez Cement's energy requireme...
Egypt's cement production drops 20% because of gas shortages
A shortage of natural gas in Egypt and subsequent constraints in electricity supply over the last four months has forced the country's cement industry to reduce production by 20...
Cemex plans US$100m Egyptian investment
Cemex announced today that it expects to invest approximately US$100m (approximately EGP700m) to significantly improve its operations in Egypt and continue supporting the countr...
ACC ready to make the switch from gas, Egypt
Arabian Cement Company (ACC) has taken all the steps needed to make the switch from gas to coal and refuse derived fuel, according to the company's chief. Jose Maria Magrina, CE...
ASEC Minya launches clinker production at 2Mta plant, Egypt
Citadel Capital announced that ASEC Minya (formerly the Arab National Cement Company), a key subsidiary of portfolio company ASEC Cement, has started the production of clinker a...
Titan recovers in the USA
Titan's first-quarter turnover showed a 7.8 per cent improvement to €243m while the EBITDA fell by 29.4 per cent, in line with the 29.3 per cent reduction seen this time last ye...
Lafarge sales down on 1Q weather effect, confirms 2013 goals
Lafarge reported a six per cent decline in sales in the three months to the end of March as it was impacted by harsh winter weather conditions and production issues in Algeria a...
OCI to settle tax dispute with Lafarge
OCI has agreed to pay about EGP7bn (US$1bn) over five years to settle a tax dispute on the sale of its cement unit to Lafarge back in 2007, Bloomberg has reported. The payments ...