Cement News tagged under: Egypt
South Valley Cement 9M14 net profit up 10.5% YoY16 December 2014, Published under Cement NewsGiza-based South Valley Cement Co's net profit for the first nine months of 2014 rose by 10.5 per cent YoY to EGP100.58m (US$14m). Net profit for the corresponding period of 2013 stood at EGP91m, the company said in a filing to the Cairo stock exchange. Last month, South Valley Cement approved a capital increase of more than EGP602.8m and ratified a long-term loan of EGP1.27bn from five Arab banks. The company is planning to use the cash to finance expansion in cement milling and storag... |
Egypt: Titan Cement selects Gebr Pfeiffer coal mill01 December 2014, Published under Cement NewsTitan Cement has ordered a MPS 2800 BK vertical roller mill for coal from Gebr Pfeiffer SE for Line No 1 of its Beni Suef works in Egypt. The mill is designed for a finished product rate of 40tph. The coal, with a Hardgrove grindability index of 45, will be ground to a product fineness of 12 per cent residue 90µm, while simultaneously being dried from a maximum 12 per cent feed moisture to a maximum one per cent residual moisture by using hot gases from the cement process, according to Geb... |
Egypt: cement prices hold firm as energy sources change27 November 2014, Published under Cement NewsCompanies have fixed their cement prices and are subject to regular ministry investigations and inspections, said Minister of Supply, Khaled Hanafy, in a Wednesday statement. Cement companies announce their prices by the third week of every month. The investigations are conducted at supply firms, factories, wholesalers and cement retailers to ensure their compliance with the prices they state, said the minister. Suez Cement (Italcementi Group), which operates Tourah, Helwan and Suez cement... |
Egypt: Italcementi to build wind park27 November 2014, Published under Cement NewsItalcementi SpA has signed a memorandum of understanding (MoU) with the government of Egypt for the construction of a 120MW wind park in the coastal town of El-Zaafarana, where the government has agreed to allocate land. The company will invest some US$200m (EUR160.6m) in the plant, starting construction in the 2Q15, said Omar Mehanna, chairman of Italcementi’s Suez Cement Co, as cited by Ahram Online. Once the wind farm is completed at the end of 2015, Italcementi will consider the constr... |
Egypt: Loesche wins mill orders at El Arish Cement25 November 2014, Published under Cement NewsEl Arish Cement is adding two new kiln lines, each with a clinker capacity of 5500tpd. The company already operates two Loesche Type LM 56.4 vertical roller mills for cement raw material grinding within its existing two lines. Now the Egyptian cement producer has decided on a repeat order for the two new lines. The LM 56.4 mills will grind raw meal with a capacity of 450tph and a fineness of 12 per cent R90µm. For cement grinding El Arish Cement also decided in favour of Loesche vertical ro... |
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... |
Egypt: National Cement Company to invest in coal usage21 November 2014, Published under Cement NewsEgypt's National Cement Company will invest at least EGP150m (US$20.9m) to convert from the use of gas to coal, according to the company's CFO, Ahmad Saad. Speaking in an interview with Al-Mal newspaper, Mr Saad said National Cement will rerun a tender for the supply of a coal mill as the first effort ended with only one submitted offer. In addition, the company seeks to nearly double its capital to EGP412.8m from EGP206.4m. It plans to use the proceeds from the share issue to pay its... |
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... |
Egyptian Tourah Portland Cement net loss widens04 November 2014, Published under Cement NewsTourah Portland Cement Co more than doubled its third-quarter net loss to EGP35.38m (USD 4.95m) from EGP 14.69m in the same period of last year. The pre-tax loss stood at EGP37.72m versus EGP 20.57m a year earlier and operating loss amounted to EGP37.3m, compared to EGP 15.45m Gross loss came in at EGP16.9m, against EGP 3.56m. Revenue, however rose to EGP259.14m from EGP169.58m in the comparative period of the year before. Last week, parent company Suez Cement reported an increase in t... |
Egypt: Suez Cement reports 18.3% rise in 3Q14 EBITDA31 October 2014, Published under Cement NewsSuez Cement Group of Companies (SCGC) reported a 48.2 per cent increase in revenues for the third quarter of this year. EBITDA during the three-month period rose by 18.3 per cent and net profit after non-controlling interest was up by 40 per cent. The Italcementi group company said that for the nine months to the end of September 2014, sales increased 30 per cent while recurring EBITDA was 7.8 per cent higher compared to the same period of 2013. However, higher corporate income taxes coupl... |