Govt to appeal court order Assiut Cement renationalisation, Egypt
The Egyptian government plans to file an appeal against a Thursday court ruling renationalising Assiut Cement, Industry and Foreign Trade Minister Hatem Saleh told Ahram Online...
Egypt
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Court ruling threatens to nullify Cemex stake in Assuit, Egypt
Cemex said on Thursday its Egyptian unit Assiut Cement Co has learned of a preliminary ruling by a court in Egypt that could nullify the agreement under which Cemex bought a ma...
Turkish investors apply to build Sinai cement plant, Egypt
Turkish investors have applied to build a cement plant in the Sinai region of Egypt, after Egyptian authorities issued legislation on developing the peninsula, according to rep...
Assuit Cement drivers strike, Egypt
Drivers working at the Assuit Cement factory in Egypt continued striking for a second day on Saturday in protest of penalties imposed on them by the company, according to local...
Egyptian cement companies to lose energy subsidies
Egypt is to no longer provide subsidised energy to new cement plants, including the 14 new facilities for which licenses have already been issued, and plans to phase out subsid...
Egypt’s Misr Beni Suef earnings edge higher, hit by power shortages
Misr Beni Suef Cement announced that net profit for the first half of 2012 reached EGP188m (US$31m) versus net profit of EGP155m in the same period of last year. Meanwhile, ...
Middle East market developments
Cement producers in the Gulf Cooperation Council (GCC) nations witnessed a 24.3 per cent increase in revenues in the first quarter of 2012, reaching US$1.26bn (AED4.62bn) as co...
Torah strike action to cause EGP22m in losses
Egypt-based producer Torah Cement announced that the latest strikes caused shortage in clinker production by around 82,000t and cement by 97,000t which will be reflected in pro...
New contract for FLSmidth in Egypt
FLSmidth has been awarded a contract by National Cement Company of Egypt for operation and maintenance of two of their production lines located in Cairo, Egypt. The parties hav...
Cementir expects a better second half from Turkey
Cementir's first half turnover improved by 2.6% to €462.5m, with improvements in the Nordic area, the Far East and Egypt, being partially offset by weaker numbers in Italy and ...