Cement News tagged under: UAE
Ras Al Khaimah Cement reports 9% decline in profit12 February 2021, Published under Cement NewsUAE-based Ras Al Khaimah Cement Co has reported a nine per cent decline in net profit to AED50.71m (US$13.8m) last year, compared to AED55.71m in 2019. The company's revenue also fell 15 per cent YoY to AED153.08m from AED181.66m. During the first nine months of 2020, the company's net losses had surged to AED23.7m from AED6.4m in the year-ago period. |
Gulf Cement Co sees net loss widen in 202011 February 2021, Published under Cement NewsUAE-based Gulf Cement Co has posted a net loss of AED273.5m (US$74.47m) in 2020, compared to a net loss of AED26.8m in the previous year. The company’s revenue also declined 22 per cent YoY to AED345.9m from AED443.6m in 2019. |
Sharjah Cement signs SRF supply contract27 November 2020, Published under Cement NewsUAE-based Sharjah Cement Factory has signed a contract with Bee'ah, a leading environmental management company, for the supply of alternative fuel from Bee’ah’s SRF plant. A minimum of 73,000t will be provided each year. This translates to 73,000t of waste being diverted from Sharjah landfills and reused by the UAE’s industries. "Companies and industries in the UAE must work together to realise new efficiencies and achieve the country’s sustainability objectives. We thank Bee’ah for it... |
Sharjah Cement sees 25% decline in revenue16 November 2020, Published under Cement NewsUAE-based Sharjah Cement has posted a net loss of AED47.9m (US$12.9m) in the first nine months of 2020, compared to a profit of AED2.8m in the corresponding period of last year. Revenues declined 25.3 per cent YoY to AED325.22m from AED435.45m in the 9M19. In the third quarter of 2020 net losses reached AED22.7m from an AED240,000 profit in the year-ago period. |
Arkan posts net loss in 9M2013 November 2020, Published under Cement NewsUAE-based Arkan Building Materials Co has recorded a net loss of AED3.71m (US$1.01m) in the first nine months of 2020, compared to an AED36.13m profit in the corresponding period of last year. The company’s revenues fell 14 per cent YoY to AED581.02m from AED675.5m in the 9M19. The lower revenues were attributed to a decrease in cement sales volumes and falling prices due to the impact of COVID-19. "Whilst this unprecedented time has tested the resilience of many organisations, I am proud... |
Gulf Cement Co sees net loss widen in the 9M2005 November 2020, Published under Cement NewsUAE-based Gulf Cement Co has recorded a net loss of AED268.13m (US$73.01m) for the first nine months of 2020, widening from an AED3.86m loss in the year-ago period. The company's revenues fell 24 per cent YoY to AED259.48m in the 9M20, compared with AED341.01m in the corresponding period of last year. Meanwhile, the company has incurred accumulated losses of AED413.22m, representing over 50 per cent of the issued share capital, according to a financial statement. "Due to the slowdown i... |
Only certified cement bags are authorised for sale in Abu Dhabi21 October 2020, Published under Cement NewsThe Abu Dhabi Department of Economic Development (ADDED) on Tuesday issued a circular which prohibits building material shops from selling any cement that does not have federal or local certifications. Unless bagged cement in Abu Dhabi has the quality marks issued by the Emirates Authority for Standardisation and Metrology and the Abu Dhabi Quality and Conformity Council they can no longer be sold in the emirate. The circular, which will be implemented in coordination with ADDED's stra... |
Emirates RDF set to begin production28 September 2020, Published under Cement NewsEmirates RDF, a partnership between leading water treatment expert Besi, Griffin Refineries and Tech Group Eco, has announced that it is set to start the production of alternative fuel at its facility in Umm Al Quwain, UAE. The household waste collected will be converted into RDF and used as a fuel in cement factories. Once operational from 1 October, Emirates RDF will able to handle over 1000t of waste from the emirates of Ajman and Umm Al Quwain. |
Gulf Cement receives approval to withdraw from Boursa Kuwait14 September 2020, Published under Cement NewsUAE-based Gulf Cement Co, once dually listed on Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), has obtained approval from Kuwait’s Capital Markets Authority to withdraw from the former. The last day for the trading of the company's shares on Boursa Kuwait will be on Monday, 14 December 2020, according to the company's disclosure to the ADX. |
Abdelaziz Assad named acting CEO Arkan Building Materials02 September 2020, Published under Cement NewsUAE-based Arkan Building Materials has appointed Abdelaziz Asad as acting CEO following the departure of Abdellatif Sfaxi to pursue other career opportunities. Under the new arrangement, Mr Sfaxi will continue to work closely with Mr Asad for the next three months to ensure a smooth transition. Arkan Chairman, Engineer Jamal Salem Al Dhaheri, said: "On behalf of Arkan’s board, I would like to thank Sfaxi for his 12 years of service to the company. During his tenure as CEO he has reinforced... |