Cement News tagged under: Middle East
Raysut Cement 1H loss widens15 July 2024, Published under Cement NewsOman-based Raysut Cement posted a total revenue of OMR31.6m (US$82.1m) in the first half of 2024, representing a 5.7 per cent decline when compared with OMR33.5m in the year-ago period. The group’s loss widened to OMR4.7m from OMR1.7m in the 1H23. |
Iranian cement rebounds in May11 July 2024, Published under Cement NewsIranian cement sales rebounded in May to come in at 6.240Mt, up from 4.051Mt a month earlier and up 7.2 per cent YoY from 5.820Mt in May 2023, according to the Iranian cement association. Producers manufactured 6.575Mt of cement and 7.634Mt of clinker, increases of 3.2 per cent YoY and 4.6 per cent YoY respectively, when compared with May 2023. A total of 1.177Mt of cement and clinker were exported in May, a decrease of 3.1 per cent YoY, with cement exports increasing 23.4per cent YoY to... |
Ras Al Khaimah White Cement becomes a subsidiary of UltraTech Cement Middle East11 July 2024, Published under Cement NewsFollowing UltraTech Cement Middle East Investments Ltd' s (UCMEIL) partial cash offer for acquiring shares (25 per cent) of Ras Al Khaimah Co for White Cement (RAKW) and Construction Materials PSC in May 2024, a shareholders' meeting was held on 9 July and the final allotment of shares in the name of UCMEIL was announced on 10 July. Together with the existing shareholding in RAKW ( UltraTech Group ), UCMEIL's aggregate shareholding in RAKW was increased to 54.39 per cent. Therefore, RA... |
Amran Cement Factory to be modernised01 July 2024, Published under Cement NewsChairman of the Board of Directors of the Yemeni General Corp for Cement Industry and Marketing , Yahya Atifa, has reviewed the progress of production work at the 2Mta Amran Cement Factory . Mr Atifa, accompanied by First Undersecretary Governor, Abdul Aziz Abu Kharfsha, inspected the work conditions at the factory. In the meeting, chaired by Mr Atifa, the performance and work level of all departments and manufacturing formations of the Amran Cement Factory units were discussed. He stre... |
UltraTech proposes reduced cash offer for RAK White shares26 June 2024, Published under Cement NewsThe UAE Securities and Commodities Authority has approved the strategic decision of Aditya Birla Group -owned UltraTech Middle East Investment’s regional operations. This decision involves reducing the size of its cash offer component for an additional stake in Ras Al Khaimah Co for White Cement & Construction Materials , a move that is expected to strengthen the company’s position in the market. According to local media, instead of putting up cash for 31.6 per cent in the RAK entity, ... |
Hoffman Green announces the construction of first Saudi unit07 June 2024, Published under Cement NewsHoffman Green Cement Technologies, a global cement company committed to the decarbonisation of the construction sector, has announced the construction of its first unit in Saudi Arabia. Ground was broken on the new ‘ H-KSA 1’ unit in Rabigh, following the company’s signing of a licensing agreement with Saudi conglomerate the Shurfah Group. The 22-year agreement allows for the construction of four Hoffman Green facilities in Saudi Arabia to support the use of low-carbon and cli... |
April disappoints for Iran cement but YtD robust30 May 2024, Published under Cement NewsIranian cement sales came in at 4.051Mt in April, down 10 per cent YoY from 4.5Mt a year earlier, according to the Iranian cement association. Producers manufactured 4.676Mt of cement and 6.97Mt of clinker, decreases of 4.4 per cent and four per cent, respectively, when compared with April 2023. A total of 1.029Mt of cement and clinker were exported in April, an increase of 9.8 per cent YoY, with cement exports decreasing 9.4 per cent YoY to 0.348Mt, but clinker exports rising 23.1 per c... |
Strong cement sales cool oversupply concerns in Iran29 May 2024, Published under Cement NewsIranian cement sales came in at 5.75Mt in March, down two per cent from 5.87Mt a year earlier, according to the Iranian cement association. Producers manufactured 4.676Mt of cement in March 2024, a notable drop of 25.5 per cent YoY, while clinker rose a robust 13.3 per cent YoY to 6.97Mt. A total of 1.28Mt of cement and clinker were exported in March, a 17.4 per cent expansion from a year earlier, with cement exports increasing 16.2 per cent YoY to 0.43Mt and clinker exports rising 18... |
UltraTech Cement announces plans to acquire 31.6% stake in RAK Cement28 May 2024, Published under Cement NewsUltraTech Cement , a subsidiary of the Aditya Birla Group, has announced that it intends to acquire a significant 31.6 per cent stake in UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). A partial acquisition cash offer was made by the company on 27 May for over 158,049,610 shares of RAKWCT's issues and fully-paid capital. The acquisition will be executed by UltraTech Cement Middle East Investments Ltd (UCMEIL), the UAE-based subsidiary of the Indian ce... |
Najran Cement net 1Q profit drops 26%20 May 2024, Published under Cement NewsSaudi Arabia-based Najran Cement Co saw a 3.9 per cent decline to SAR138.12m (SAR36.83m) in the 1Q24 from SAR143.68m in the 1Q23. The company’s net profit saw a 25.7 per cent YoY fall to SAR21.54m in the 1Q24 from SAR28.98m. The earnings per share (EPS) amounted to SAR0.13 in the three-month period that ended on 31 March 2024, down from SAR0.17 in the corresponding period a year earlier. In 2023 the company’s profit fell by 38.5 per cent YoY to SAR69.43m from SAR112.8m. |