Displaying items by tag: Arabian Cement
Arabian cement sales fell by 17% to 3.65Mt in November 2013
11 December 2013Saudi Arabia: Cement sales dropped by 17% year-on-year to 3.65Mt in November 2013 from 4.37Mt in November 2012, according to local media. The decline in sales was blamed on a campaign against migrant workers following the end of an amnesty period on 3 November 2013.
Sales of all of the cement companies fell during November 2013 with the exception of Northern Province Cement Company, Arabian Cement Company and Madinah Cement Company, whose sales increased by 58%, 24% and 20% respectively, according to data from Yamamah Cement Company. Riyadh Cement Company and Jouf Cement Company posted the biggest drop in November 2013 at 45% and 44% respectively. Sales by Saudi Cement Company and Yamamah fell by 21% and 32% respectively.
Sales of clinker for the country's fifteen cement companies rose by 9% year-on-year to 4.75Mt in November 2013 from 4.35Mt in November 2012.
Saudi Arabia first quarter roundup
17 April 2013Saudi Arabia: Yamama Cement has reported that its net profit remained stable year-on-year for the first three months of 2013 at US$73.9m. However its net profit rose by 59% from US$46.4m in the fourth quarter of 2012. The company attributed the increase in net profit from the fourth quarter to an increase in domestic demand.
The Arabian Cement Company reported a net income of US$42m for the first three months of 2013, a rise of 7.7% from US$39m year-on-year. Net income doubled from US$21m for the fourth quarter of 2012. Gross profit fell year-on-year by 3.6% to US$44.9m from US$46.5m. The company attributed the year-on-year rise in net income to a decrease in operating expenses and the increase in other income. The decrease in gross profit was attributed to a decrease in sales revenue.
Yanbu Cement Company reported that its net profit rose by 70% to US$65.9m in the first quarter of 2013 compared to US$38.4m in the same quarter in 2012. Net profit rose by 21.4% from US$54.1m in the fourth quarter of 2012. Yanbu's gross and operating profits rose accordingly. The company attributed the rises in profits to increased sales and as a result of the start of 'Line 5 commercial production from April 2012 and Opex efficiencies.'
Arabian Cement CEO resigns
06 February 2013Saudi Arabia: Arabian Cement has said its chief executive, Ali Al Khuraimi, has resigned for personal reasons. A new CEO will be appointed as soon as possible, the cement maker said in a statement posted on 2 February 2013 on the Saudi bourse website.
Arabian Cement commissions second line
12 June 2012Egypt: Arabian Cement Company (ACC) is expanding its operations in Egypt, with the official opening of its second production line at its plant located in Suez governorate.
During a press conference attended by General Ismail Al Nagdy, President of the Egyptian Industrial Development Authority (IDA), and Fidel Sendagorta, the Spanish Ambassador in Egypt, ACC showcased the benefits of converting to an alternative fuel system, which it is planning to implement on both production lines. This will help it to reduce its gas consumption to make the plant more environmentally-friendly.
ACC said that the second production line has created 850 jobs, making ACC an employer of around 1700 workers both directly and indirectly. Operation of the second line has doubled ACC's production capacity to 5Mt/yr.
"We are extremely pleased to announce opening our second production line, which will increase our production capacity, bringing us one step closer to becoming among the largest cement producers in the market. We have already finished the commissioning of the second line and are now ready to produce high quality cement products," said Jose Maria Magrina, ACC's CEO.
"ACC has been successfully operating in the Egyptian market since 2007 and is currently the second largest Spanish investor in Egypt. As a leader in the cement sector, we are constantly keen to implement the latest techniques in our production process. By using alternative fuel in our plant, we contribute to limiting the harmful effects of the cement industry on the environment."
Using alternative fuel will reduce the consumption of natural gas, saving the company 436m3 of gas for every tonne of refuse derived fuel (RDF). ACC has obtained the required license from the Egyptian Environmental Affairs Agency (EEAA) to use alternative fuel made from waste materials in the kilns of the plant. It is expected that RDF will be introduced to the plant by the end of 2012. This will save the operation around 60,000t/yr of CO2.
Arabian Cement Company profits up by 59% in 2011
23 February 2012Saudi Arabia: The Arabian Cement Company has posted a net profit of US$109m for the year ending 31 December 2011, an increase of 59% compared to the US$68m that it made in 2010. Its gross profit reached US$130m in 2011, an increase of 58% compared to US$85m in 2010, and its operating profit was US$120m, a rise of 55% compared to US$77m. The company attributed the profit rise in 2011 to increases in production and sales.
Arabian Cement Company results
16 December 2011Saudi Arabia: Saudi Arabian cement producer Arabian Cement Company (ACC) has seen its net profit for the first nine months of 2011 surge by 36% year-on-year to US$88.7m.The company attributed the increase in bottom-line figures to rising production and sales volumes but did not give exact figures.
ACC's operating profit jumped by 48.2% to US$96.9m in the first nine months of 2011. For the third quarter of 2011, the company registered a net profit of US$27.9m, an increase of 28.4% year-on-year.