Cement News tagged under: Middle East
Tabuk Cement sees 1Q losses20 May 2022, Published under Cement NewsSaudi cement producer Tabuk Cement Co reported revenues of SAR62.18m (US$16.58m), down 19.2 per cent YoY, in the January-March 2022 period, according to the company Net losses after zakat and tax were posted at SAR6.92 in the1Q22, against net profits of SAR10.06m in the 1Q21. In 2021 Tabuk Cement Co posted a 65.6 per cent drop in net profits after zakat and tax to SAR17.76m, compared to SAR51.58m in 2020. |
Hail Cement posts 1Q22 sales losses of SAR6.9m19 May 2022, Published under Cement NewsSaudi Arabia's Hail Cement Co has reported losses of SAR6.9m (US$1.8m) in the 1Q22 after it witnessed a drop in sales. The cement producer had made profits of SAR25.9m in the same period last year, but a 16 per cent decline in sales weighed on the current year’s results, a bourse filing showed. The company's revenue went down from SAR82m to SAR69m YoY. Hail Cement also attributed the results to an increase in expenses, which led to operating losses of SAR7.36m during the quarter. |
Arabian Cement 1Q profits see 37% drop17 May 2022, Published under Cement NewsArabian Cement’ s net profit after zakat and tax declined 37 per cent YoY to SAR41.9m (US$11.2m) in the first quarter of 2022. When compared with the fourth quarter of 2021, net profits surged by 79.3 per cent from SAR23.3m. Revenues decreased 19.3 per cent YoY to SAR259.3m in the 1Q22 from SAR321.5m, according to a bourse filing. When compared with the previous quarter, 4Q21, revenues edged up by 1.4 per cent from SAR255.8m. |
Iranian cement demand hits 4Mt mark17 May 2022, Published under Cement NewsCement consumption in Iran reached 4Mt in April 2022, according to the Iranian cement association. The country produced 6.99Mt of clinker, of which it exported 0.79Mt. Cement production stood at 4.56Mt, which was mostly destined for domestic markets although 0.42Mt was exported. |
Eastern Province Cement sees 52% drop in 1Q profits13 May 2022, Published under Cement NewsSaudi Arabian cement producer Eastern Province Cement Co reported a net profit after zakat and tax of SAR29m (US$7.7m) in the 1Q22, down 51.7 per cent YoY. Revenues declined 25.8 per cent YoY to SAR161m in the 1Q22 from SAR217m. |
Cemex reports 1Q22 net sales increase of 13%29 April 2022, Published under Cement NewsCemex announced its first quarter of 2022 results, with consolidated net sales and EBITDA growing YoY by 13 and three per cent, respectively, despite a challenging cost environment. The growth was led by a 12 per cent increase in cement prices in LfL terms, eight per cent in ready-mix, and seven per cent in aggregates, with all regions contributing to pricing gains. Cemex continued to enjoy strong demand dynamics, with cement and ready-mix volumes growing high single to double-digits... |
Yanbu Cement acquires Yanbu Saudi Kuwaiti Paper Products Co25 April 2022, Published under Cement NewsSaudi’s Yanbu Cement has acquired shares owned by Kuwait’s Shuaiba Industrial Co in its unit Yanbu Saudi Kuwaiti Paper Products Co for SAR32.3m (US$8.6m). The transaction allowed the transfer of a 40 per cent stake in the paper manufacturer to Yanbu Cement, making it the full owner of the former, according to a bourse filing. Yanbu Cement will fund the transaction from its own resources. In line with the company’s expansion and growth visions, the deal aims to provide material a... |
UltraTech acquires 29% stake in RAK White Cement19 April 2022, Published under Cement NewsUltraTech Cement Middle East Investments , part of UltraTech Cement in UAE, has invested US$101m to acquire a 29.39 per cent stake in RAK Cement Co for White Cement and Construction Materials PSC . RAK White Cement reported a turnover of INR4.825bn (US$63.2m) last year, up from INR4.46bn in 2020. The company is registered on the Abu Dhabi and Kuwait stock exchanges. |
Mondi acquires paper bag lines from Lafarge Cement Egypt subsidiaries14 April 2022, Published under Cement NewsMondi Group’s Mondi Paper Bags business unit has purchased paper bag converting lines from National Bag and Egypt Sack, two subsidiaries of Lafarge Cement Egypt . The addition of the production lines will increase Mondi’s annual capacity by around 150m-180m bags. Mondi Paper Bags COO, Claudio Fedalto, said: “Lafarge Cement Egypt is part of leading global building material company Holcim Group , which has been a key global customer of Mondi Paper Bags for years. “We are excited to ha... |
Vicat Cement Egypt's acquisition of Sinai Cement approved14 April 2022, Published under Cement NewsThe Financial Regulatory Authority (FRA) has approved the publication of a disclosure of an acquisition offer by Vicat Cement Egypt for a 42.12 per cent stake in Sinai Cement Co at EGP6.74 (US$0.36) per share, according to a filing to the Egyptian Exchange (EGX). Vicat will buy 56.064m shares in Sinai Cement, increasing its stake in the company to 100 per cent. |