Cement News tagged under: Suez Cement
Egypt: Suez Cement reports deepening net loss02 March 2017, Published under Cement NewsSuez Cement has reported a deepening net loss of EGP629.3m (US$33.8m) for 2016. This compares with EGP100.8m reported in 2015. Part of HeidelbergCement following its Italcementi acquisition, Suez Cement is the largest cement producer in Egypt. The company operates some 14.8Mta of grey cement capacity in its Tourah, Helwan, Kattameya and Suez plants as well as a 1Mta white cement plant at El Minya. |
Egypt sets out on a new course05 September 2016, Published under Cement NewsPresident Abdel Fattah al-Sisi has managed to return a certain degree of stability to Egypt, with the economy expected to show a gradual recovery. A broad infrastructure programme and robust housing demand is providing the foundation for a strong growth in construction, while the government is calling for the cement industry to increase its capacity. The urgent need to expand Egypt's inrastructure and deal with the considerable housing shortage are expected to drive cement demand f... |
Egypt: Suez Cement ranked bottom27 June 2016, Published under Cement NewsEgyptian company Suez Cement has ranked in the bottom quartile of the country’s performers for the year just passed. The company’s performance saw it ranked 144/144 in the BSS News Bites ranking for Egypt, a percentile ranking of zero. Alongside this low ranking, Suez Cement’s shares also fell 66.8 per cent for the year ended 26 June 2016. Five years ago share price stood at EGP38.75 and fell over the next two years to EGP21.00. Two years ago the company saw its share price rise again to ... |
Suez Cement hit by Egyptian pound devaluation13 May 2016, Published under Cement NewsIn its quarterly earnings statement for 1Q2016, Suez Cement announced that it has seen cement volumes rise 15.6 per cent YoY. However, net profits for the quarter have fallen to just EGP2m (US$0.2m), down from EGP58m a year earlier. Suez’s revenues were 14.5 per cent higher at EGP1606m, but EBITDA was down 12.5 per cent at EGP140m. Cement demand was driven by both infrastructure projects, and small and mid-sized private sector initiatives. Better energy availability allowed the company... |
Suez Cement working to limit impact of Egypt's dollar shortage14 March 2016, Published under Cement NewsSuez Cement, a unit of Italy’s Italcementi SpA, is working to minimise the impact of Egypt’s dollar shortage on its operations and has no plans to “withdraw” from the country, Managing Director, Bruno Carre, said. “We are doing what we can to finance our operations locally and to work with local suppliers while getting extended credit facilities from our international suppliers and our group,” Carre told Bloomberg News. “Our key priority is to maintain our operations and to minimise the out... |
Suez Cement plans to complete coal conversion project by end-2016, Egypt08 January 2016, Published under Cement NewsSuez Cement, part of the Italcementi group, plans to complete its preparations for coal usage at its plants by late 2016, local press reported, citing chairman Omar Mehanna Wednesday. The conversion process involves an investment of around US$110m. Mr Mehanna further told Amwal Al Ghad business magazine that Suez Cement had completed the conversion for coal usage at two plants out of five during 2015. The company aims to use coal as an alternative energy source for the production of cemen... |
Egypt: Suez Cement 2Q net profit drops 57%22 July 2015, Published under Cement NewsSuez Cement posted a second-quarter net profit of EGP60.9m (US$7.8m) on Tuesday, down 57.2 per cent from the EGP142.5m recorded a year earlier. Revenue over the three month period declined by 15 per cent due to lower prices and exports. Suez Cement said it was diversifying its energy sources to mitigate the impact of shortages which "affected negatively the company's profits". |
Italcementi06 January 2015, Published under Cement NewsThe Italcementi subsidiary Suez Cement is investing EUR68m (US$84m) in 2015 in its Helwan and Tora II works to convert them to burning coal and waste-derived fuels. In addition, towards the end of 2014, Suez Cement completed a US$18m investment in its Katameya cement works, allowing it to burn coal and a range of alternative fuels. In terms of energy use, the works is now burning 85 per cent coal, 10 per cent industrial waste and five per cent other fuel. It has allowed capacity utilisati... |
Suez Cement completes coal trials at Katameya plant29 December 2014, Published under Cement NewsSuez Cement has completed the trial period of using coal to run its Katameya factory and it is now the main source of fuel at the Egypt-based factory, chairman Omar Mohanna announced. TheItalcementi group company is currently operating at 80 per cent of it 1.5Mta capacity compared to 50 per cent during times of natural gas supply shortages. Mr Mohanna told AlMal that the energy mix at the Katameya factory consists of coal (85 per cent), industrial waste (10 per cent) and ordinary energ... |
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... |