Cement News tagged under: Saudi Arabia
Saudi: Arabian Cement quarterly net profit up 6.2% YoY18 April 2014, Published under Cement NewsSaudi-based Arabian Cement Company (ACC) posted a SAR167.1m (US$44.6m) net profit for the first quarter of 2014, up 6.2 per cent from SAR157.3m a year ago. Earnings per share (EPS) stood at SAR 2.09, compared with SAR1.97. |
Saudi Cement: first-quarter net profit declines15 April 2014, Published under Cement NewsSaudi Cement Co posted a 16 per cent decline in net profit for the first three months of this year due to lower domestic demand and losses from an associate company. The Saudi-based cement producer reported a profit of SAR286m (US$76.3m) in the three months to 31 March, down from SAR340m in the corresponding period of 2013, the company said in a bourse statement. The decline was attributed to falling local demand. Saudi Cement said it also had exposure to an associated company’s loss after... |
Qassim Cement 1Q14 net profit declines09 April 2014, Published under Cement NewsQassim Cement Company reported net profits amounting to SAR159m (US$42.4m) in the first quarter of 2014, down 5.59 per cent for the same period of the last year. In a statement issued today, the Saudi-based company said that dividends per share amounted to SAR1.77 compared to SAR1.87 for the same period of the last year. |
Umm Al Qura set to raise US$73m via float09 April 2014, Published under Cement NewsUmm Al Qura Cement is to raise over SAR275m (US$73m) in cash by selling 27.5m shares at SAR10 each via a flotation on Saudi Arabia's stockmarket, Tadawul. The shares are expected to be floated by the new Riyadh-based cement supplier at the end of April, and a prospectus will be published in advance. Saudi Arabia's Minister of Commerce and Industry Dr Tawfiq bin Fawzzah Al-Rabiah said that half of the shares will be sold to the general public, with the rest retained by the project's partn... |
Saudi Arabia's cement industry looks forward to good times07 April 2014, Published under Cement NewsSaudi Arabia's cement companies are preparing for long-term cement demand growth as they expand their capacity. However, for some such as Yanbu Cement, the past quarter has seen earnings contract. NBK Capital raised Yamama Cement’s share value from SAR52.50 (US$14.00) to SAR54.42. Several new megaprojects are scheduled to come online, which are expected to drive longer-term cement demand. In addition, cement demand had been heavily focussed towards the Western Region in the past two years... |
Recent orders for Cemengal in Saudi Arabia and Mauritania03 April 2014, Published under Cement NewsCemengal has received a second order from a Saudi Arabian client for the supply of its Plug&Grind® (P&G) process technology. It has also received two orders for the system in Mauritania. The P&G units are complete cement grinding and packing stations based on a ball mill grinding facility. They are assembled in Spain with European components and compacted into eight or nine standard containters making it easier to transport. The P&G system has the capacity to produce 100,000tpa of OPC. |
ABB upgrades Eastern Province Cement Co's process control system, Saudi Arabia28 March 2014, Published under Cement NewsABB has recently completed an extensive upgrade of the Extended Automation System 800xA to the latest standards at Eastern Province Cement Co’s (EPCC) three production lines at its Al Khursaniya works in Saudi Arabia. With outdated hardware and software potentially impacting the plant’s reliability and to avoid unexpected shutdowns and improve functionality of the cement production lines, EPCC decided to optimise its process control system. The scope of supply included the evolution of Ext... |
Eastern Province to launch new mill in 2Q1524 March 2014, Published under Cement NewsEastern Province Cement (EPC) is to launch commercial production at a new cement mill in April 2015. The construction of the grinding unit, with a capacity of 150tph, will be completed in October 2014, officials said yesterday. The equipment at the new facility will be installed over a period of two-and-a-half months, with the trial period to take three months, by end-March 2015. Earlier in March 2014, the cement manufacturer announced a SAR309m (US$82.4m/EUR59.4m) net profit for 2013, down... |
Saudi Cement to retire three kiln lines18 March 2014, Published under Cement NewsSaudi Cement Co (SCC) is to permanently cease of operations of three kiln lines Hofuf plant due to their age, higher operating costs and lower environmental efficiency. The company had restarted Lines 1, 2 and 3 at the Hofuf works at the end of last year due to rising demand and market pressures at the time. However, the decision has now been made to close these kilns and remove them from the plant site. The three kilns have a combined clinker capacity of 1325tpd. |
Saudi sees monthly sales decline12 March 2014, Published under Cement NewsSaudi cement sales declined by three per cent to 4.59Mt in February 2014, compared to 4.74Mt in the same month of last year, local media have reported. Out of the 14 cement companies operating in the kingdom, 10 reported a declining in sales, according to a report prepared by Argaam Business Info. Clinker production, however, jumped by five per cent during the month to 4.07Mt, the report stated. |