Saudi Cement sales slump
Cement sales in Saudi Arabia saw a notable downturn, dropping 6.7 per cent year-on-year and 21.3 per cent month-on-month to 3.37Mt. A report from Al Rajhi Capital attributes thi...
Qassim Cement
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Qassim Cement awards US$298m EPC contract for new production line
Qassim Cement Co has signed a US$298m (SAR 1.12bn) engineering, procurement, and construction (EPC) contract with Sinoma International Engineering Co to build a fourth productio...
Saudi cement sales exhibited growth in 2QFY24
Saudi Arabia's cement industry recorded a 1.8 per cent sales growth in the 2Q124, reaching 10.85Mt. Al-Yamama Cement 's data showed that 95 per cent of these sales were domestic...
Qassim Cement Co is to acquire all of Hail Cement Co's shares
Two cement producers in Saudi Arabia are in the amalgamation process and have informed their intention with limited details to the local bourse. According to a notification of b...
Saudi producers warn of rising production costs
Cement producers in Saudi Arabia have received a notification from Saudi Arabian Oil Co (Saudi Aramco) that the price of fuel products used in cement production will be increasi...
Qassim Cement initiates growth strategy
This week Qassim Cement Co (QCC) announced a Memorandum of Understanding (MoU) with Hail Cement Co (HCC) for the proposed acquisition of HCC. ICR explores the growth strategy of...
Qassim Cement signs MoU for proposed acquisition of Hail Cement
Qassim Cement Co (QCC) signed a non-binding memorandum of understanding (MoU) with Hail Cement Co (HCC) to commence discussions for QCC to acquire all issued shares of HCC. In a...
Qassim Cement Co sees 73% fall in profits in 1H22
Qassim Cement Co posted a 73 per cent drop in profit during the 1H22, hit by lower cement demand. The Saudi cement producer’s profit fell to SAR54m (US$14m), compared to SAR201m...
Qassim Cement to establish new cement mill at Buraydah
Qassim Cement, Saudi Arabia, has entered into a preliminary agreement with the Chinese company, CDI, for the engineering, supply and construction of a new cement mill to be inst...
Qassim Cement sees sales down 27% YoY
Saudi Arabia’s Qassim Cement has reported a net profit of SAR60.4m (US$16.11m) in the third quarter of 2021, down 49.7 per cent YoY from SAR110.1m. Sales also decreased 26.5 per...