Cement News tagged under: Arabian Cement Company
Egypt: Arabian Cement launches social start-up programme18 June 2015, Published under Cement NewsArabian Cement Company (ACC) announced the launch of its social start-up programme, “Khaleeha Suessi”, helped by Nahdet El Mahrousa (NM), an incubator of early-stage social enterprises in the MENA region. The programme aims at promoting positive social impact and employment opportunities by providing entrepreneurs with the tools needed to successfully establish their own social startups. The launch press conference was attended by Jose Maria Magrina, ACC Chief Executive Officer, and Loay El... |
Arabian Cement Co 1Q revenue rises 11% YoY03 June 2015, Published under Cement NewsArabian Cement Company (ACC) said first-quarter revenue increased by 11 per cent to EGP585m (US$76.6m) compared to EGP529m a year earlier. The advance was mainly attributed to a 13 per cent increase in volumes as prices slip over the period. However, net profit dropped 52 per cent YoY to EGP56m, while the net profit margin was down 12 points to 10 per cent, the company in a statement. ACC said the EBITDA stood at EGP184m,19 per cent below than EGP227m in the corresponding period of last... |
CNBM signs turnkey contract with Arabian Cement Co for 10,000tpd plant10 April 2015, Published under Cement NewsCNBM International Engineering Co Ltd has signed a turnkey contract with Arabian Cement Co for a 10,000tpd clinker line in Jeddah, Saudi Arabia. It is the largest order signed by CNBM Engineering in international cement engineering markets, the company said in a statement. At the contract signing, the CEO of Arabian Cement Company (ACC) said that he believed CNBM’s Engineering mode “CNBM Plus” would bring the best project quality and a rapid return on investment. Zhang Liao, General Manage... |
Egypt: ACC to boost alternative fuels usage18 March 2015, Published under Cement NewsEgypt-based Arabian Cement Co (ACC) is seeking to utilise alternative energy to increase its capacity utilisation rate to 100 per cent, the company’s CEO Jose Maria Magrina told Daily News Egypt on the sidelines of the Economic Summit. The company is currently running at approximately 80 per cent of its capacity. Coal accounts for around 70 per cent of energy use, while alternative fuels represent 10 per cent including waste and biomass. Arabian Cement is currently working on the complet... |
Arabian Cement Co names chairman07 January 2015, Published under Cement NewsArabian Cement Co’s board of directors on Thursday approved the appointment of Abdullah Mohammed al-Eissa as board chairman, with a three year term effective 1 January 2015. In early December, the company elected a new board of directors. The other newly-elected board members are Ghassan al-Souleiman, Saud al-Souleiman, Adel al-Zaid, Ibrahim al-Rajhi, Ibrahim Aba al-Khail, Sami Baroum, Mu'taz al-Azawi and Alwaleed al-Dareean. |
Egypt: Arabian Cement Co’s consolidated 9M14 revenues up 17%24 November 2014, Published under Cement NewsArabian Cement Company has reported its consolidated results for the first nine months of 2014. Revenues in the period rose 17 per cent to EGP1788.5m (US$250m) as compared to EGP1532.1m in 9M13, on the back of the early signs of economic and security improvements in Egypt. Net profit dropped 35 per cent YoY to EGP200.4m, while net profit margin was down nine percentage points to 11 per cent on the combined impact of the expiration of the company’s tax-exempt status – ACC is now taxed at th... |
Arabian Cement to set up Brazilian joint-venture05 November 2014, Published under Cement NewsEgypt-based Arabian Cement Company, announced it will establish a grinding plant in northwest Brazil as part of a joint-venture agreement with local cement manufacturer Cementos Relampago, part of Cementos La Union. The 2.3Mta facility is expected to involve an investment of €23m ($28.7m), of which Arabian Cement will contribute €7m. Arabian Cement added that its contribution represents 60 per cent of the total paid in capital, noting that 50 per cent of the project’s cost will be financed... |
ACC begins preliminary coal usage, Egypt03 June 2014, Published under Cement NewsEgypt-based Arabian Cement has started testing coal at its cement plant as part of plans to secure alternative energy sources. In April, the government approved the use of coal for energy production in the hope that it would prevent any further weakening of output levels due to energy restrictions. In addition, ACC has been making strides with the use of other energy sources. “The company has already completed the first phase of its plan for converting solid waste, which currently provi... |
Arabian Cement Co first-quarter update23 May 2014, Published under Cement NewsArabian Cement Company (ACC) posted a EGP116.4m (US$16.3m) net profit for the first quarter of 2014. ACC was the first major listing on Cairo's bourse since the 2011 political uprising, raising US$110m. |
Egypt: Arabian Cement seeks to raise US$120m from IPO12 May 2014, Published under Cement NewsArabian Cement Company has set the price for its initial public share offer (IPO) at EGP9 (US$1.28) a share after a private placing was 11.3 times oversubscribed, the company said on Sunday. The offer, whereby Arabian Cement is seeking to raise around US$120m will make it the first major company to enter the stock exchange since the overthrow of Hosni Mubarak in 2011. The company plans to sell 85.202 million shares of which 59.641 million were placed. Last month it set an indicative pri... |