Cement News tagged under: Egypt
Egypt: Suez Cement 1H16 sales up 6%22 July 2016, Published under Cement NewsSuez Cement Group of Companies (SCGC) 1H16 results showed that growth slowed in 2Q16, due to lower demand during the holy month of Ramadan and June. However, overall, the domestic cement industry grew 7.6 per cent in 1H16 versus 1H15. Cement prices continued to improve, following 1Q16 trends to jump four per cent during April, May and June. That being said, prices were still three per cent lower between Jan-Jun 2016 compared to 1H15. Group sales volumes increased six per cent across t... |
Egypt: Qalaa 1Q16 losses07 July 2016, Published under Cement NewsQalaa Holdings recorded a 1Q16 net loss of EGP242.7m (US$27.3m), greater than the losses of EGP112.2m (US$12.6m) seen in the same period last year, as reported by news organisation Zawya Ltd. Total revenues saw a 20 per cent increase YoY in 1Q16 compared to the adjusted EGP1.44bn reported for 1Q15. Comparative 1Q15 figures have been adjusted to reflect the divestment of ASEC Minya, ASEC Ready Mix, Ashreq, Misr Qena Cement, Rashidi El-Mizan and Tanmeya, eliminating the figures of divested ... |
Egypt: new licences may threaten Misr Cement04 July 2016, Published under Cement NewsThe Egyptian government will announce the results of the license 8 tender on 30 July, which will see the addition of new production capacity to compete with current companies in the market. Beltone Financial said that the future of Misr Cement-Qena’s market share is under threat, as the company currently occupies the second position in the market, following Cemex. Beltone has predicted that cement prices in the country will remain low, at a price of EGP500/t (US$56.33/t), until 2018, comp... |
Egypt: Suez Cement ranked bottom27 June 2016, Published under Cement NewsEgyptian company Suez Cement has ranked in the bottom quartile of the country’s performers for the year just passed. The company’s performance saw it ranked 144/144 in the BSS News Bites ranking for Egypt, a percentile ranking of zero. Alongside this low ranking, Suez Cement’s shares also fell 66.8 per cent for the year ended 26 June 2016. Five years ago share price stood at EGP38.75 and fell over the next two years to EGP21.00. Two years ago the company saw its share price rise again to ... |
Egypt: CDI wins EUR1bn worth of orders13 June 2016, Published under Cement NewsChengdu Design & Research Institute of Building Materials Industry Co Ltd, a Sinoma company, has signed a EUR1.053bn turnkey contract for the design, supply, construction and installation of six 6000tpd cement plants for the Equipment Bureau of the Ministry of National Defence of the Arab Republic of Egypt in Cairo. The contract also includes the operation and maintenance of the two 5775tpd production lines of GOE Arish and the six Beni Suef lines for three years. |
Arabian Cement Q1 profits drop 41%31 May 2016, Published under Cement NewsArabian Cement have announced a fall in earnings of 40.5 per cent in 1Q16. The company earned EGP34.1m (US$3.85m) in 1Q16, compared with the EGP57.3m (US$6.47m) in the same period last year, according to consolidated financial results. Further, the unconsolidated profits for 1Q also fell 40.5 per cent YoY to EGP33.3m, from EGP56m. In 2015 Arabian Cement’s consolidated profits decreased 26 per cent YoY to EGP277.2m (US$31.2m) from EGP373.7m (US$42m). |
Egypt: Helwan Cement Company orders Gebr Pfeiffer mill20 May 2016, Published under Cement NewsThe Helwan Cement Company, an Italcementi subsidiary, has ordered a new Gebr Pfeiffer coal mill for its cement works. Delivery of the mill will start as early as the end of 2016. The MPS 3350 BK vertical roller mill has an installed gearbox power of 1050kW and is designed to grind 80tph of coal to a product fineness of 12 per cent residue on 90µm and 60tph of petcoke to a product fineness of six per cent residue on 90µm. |
Israel complaint over Egyptian circumvention of Gaza cement ban16 May 2016, Published under Cement NewsThe Israeli government has filed an official complaint with its counterpart in Cairo after Egypt permitted the import of cement into Gaza, reports the Middle East Monitor. News services report that this has provoked considerable anger within the Israeli security establishment, who view the Egyptian move as running counter to its efforts at collaboration with the Palestinian Authority. They also point out that it may violate a UN agreement whereby the international body monitors cement use... |
Suez Cement hit by Egyptian pound devaluation13 May 2016, Published under Cement NewsIn its quarterly earnings statement for 1Q2016, Suez Cement announced that it has seen cement volumes rise 15.6 per cent YoY. However, net profits for the quarter have fallen to just EGP2m (US$0.2m), down from EGP58m a year earlier. Suez’s revenues were 14.5 per cent higher at EGP1606m, but EBITDA was down 12.5 per cent at EGP140m. Cement demand was driven by both infrastructure projects, and small and mid-sized private sector initiatives. Better energy availability allowed the company... |
Cemex paves Egypt's first concrete highway14 April 2016, Published under Cement NewsCemex in Egypt contributed to the paving of Egypt’s first concrete highway. The approximately 22-mile (35km) road connects Cairo, the country’s capital, with the seaport city of Suez, two of the nation’s most important economic centres. Cemex supplied 130,000m 3 of concrete for the Cairo-Suez highway. This concrete paving solution offers this country a number of advantages over traditional asphalt roads, including greater durability, higher tolerance, better visibility – especially at nig... |