Cement News tagged under: National Cement Co
PPC sells Cimwera to National Cement Holding Ltd for US$42.5m20 November 2023, Published under Cement NewsPPC Ltd has completed the sale of its 51 per cent stake in Rwandan cement producer Cimerwa to National Cement Holding Ltd for a cash consideration of US$42.5m. The deal is a significant step in PPC's strategic shift to focus on its southern African operations and improve its financial leverage. The share transfer is set to take place seven business days after the necessary conditions are met, including notifications and clearances from the Common Market for eastern and southern Africa (... |
National Cement Co reopens Souq Al-Khamis factory29 June 2020, Published under Cement NewsLibya’s Economic and Social Development Fund has announced National Cement Co will be resuming production at its Souq Al-Khamis factory. The fund said security conditions in the region, which saw intensive fighting during the aggression on Tripoli, have improved since the cessation of military operations and the defeat of the Haftar militias in southern Tripoli. Therefore, the 1Mta plant will be able to operate once again. |
Egypt's National Cement Co to be liquidated15 October 2018, Published under Cement NewsThe Egyptian government has decided to liquidate National Cement Co due to continued financial losses and debt accumulation, according to Ahramonline. Total accumulated financial obligations had reached over EGP4bn (US$223m), including EGP3.3bn owed to Egyptian Natural Gas Holding Co and EGP600m to the Egyptian Electricity Co. Established in 1956, the company was the only public sector cement producer. Its general assembly agreed during a meeting last week on the liquidation and proced... |
National Cement post 1Q loss15 May 2017, Published under Cement NewsNational Cement Co of Egypt reported losses of EGP40.4m (US$2.2m) in the first quarter of fiscal year 2016-17 against profits of EGP19.7m for the same period that year before, as shown by the company’s unaudited financial statements. The rise in losses between July and September 2016 is attributed to the increase in provisions by EGP37.2m, according to the company’s statement to the Egyptian Exchange (EGX) on Sunday. |
National Cement Co first half ahead 4.7%07 August 2015, Published under Cement NewsNational Cement Co (NCC) posted a net profit of AED70.2m (US$19.11m) in the first half of 2015, a rise of 4.7 per cent from AED67m (US$18.24m) in the corresponding period from last year. NCC’s profits for Q2-15 saw a marginal increase to AED33.73m compared to AED33.13m in the same period in 2014, according to a filing to the Dubai Financial Market (DFM) on Thursday. The cement firm previously posted a 7.4 per cent rise in net profits for 1Q15 to AED36.46m compared to AED34m in 1Q14. |
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