Yanbu Cement appoints new chairman
Yanbu Cement Co has appointed Fahd Bin Soliman Al Rajhi as chairman of the board, reports Reuters. Mr Al Rajhi served since 2017 as deputy chairman of the Saudi-based cement...
Middle East
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Southern Province Cement names new CEO
Saudi Arabia’s Southern Province Cement has named Aqeel Futis Kadasa as its new CEO, effective from 12 July 2020. The appointment follows the resignation of Safar Mohammad Dhuf...
Lebanese market contracts 56% in 1H20
Cement consumption in Lebanon fell by 55.7 per cent in the first six months of 2020. Demand decreased to 300,334t in the 1H20 from 677,620t in the 1H19, according to Libnanews....
Jordanian Cement Factories files for insolvency
The Jordanian Cement Factories Co has announced that it will file for insolvency on the back of adverse financial conditions, worsening as a result of the COVID-19 pandemic, ac...
Najran Cement Co fully repays loan for WHR project
Najran Cement Co has fully repaid the remaining amount of a SAR45m (US$12m) existing loan, which was used to finance the company's waste heat recovery project. The credit fa...
Raysut Cement targets east African expansion
Oman's Raysut Cement plans a five-fold increase in its cement production capacity, says Joey Ghose, Raysut Cement's CEO. The expansion would see Raysut Cement increase producti...
Saudi Arabia records 10% demand increase in 5M20
Saudi Arabia’s cement sector has reportedly seen a 10 per cent YoY demand growth in the first five months of 2020, according to Al Rajhi Capital. Qassim Cement and Yanbu Cem...
Oman Cement Co sees 27% fall in profit
Oman Cement Co has posted a 26.7 per cent fall in profit after tax to OMR1.1m (US$2.86m) for the first quarter of 2020, compared to OMR1.5m in the 1Q19. The company’s total sa...
Misr Insurance reduces Misr Cement-Qena stake
Misr Insurance Co has lowered its stake in Misr Cement-Qena from 9.3 to 4.68 per cent, Misr Asset Management said in a statement to the Egyptian Exchange on 23 June. The insu...
Northern Region Cement sees 78% rise in profit
Saudi Arabia’s Northern Region Cement Co has reported a 78 per cent increase in net profit to SAR27.6m (US$7.36m) in the first quarter of 2020, compared to SAR15.5m in the year...