Displaying items by tag: Misr Beni Suef

Egypt: Misr Beni Suef Cement made a net profit of US$3.13m in the first half of 2017, compared to a net profit of US$5.32m in the same period of 2016. This represents a 41% fall year-on-year.

Egypt: Misr Beni Suef Cement has started to produce sulphate resistant cement for use in tunnels and other special projects. The cement producer is aiming to boost sales by selling 200,000t of this new product in 2016, in addition to sales of ordinary Portland cement.

Egypt: Misr Beni Suef Cement has announced a net profit of US$6.9m for the first half of 2015, compared to a net profit of US$2.2m in the same period of 2014.

Egypt: Sinai Cement has reported a net loss of US$1.43m for the first quarter of 2015, which ended on 31 March 2015. In the same period of 2014 it posted a net profit of US$4.67m. Meanwhile, Misr Beni Suef Cement has reported a net profit of US$4.59m for the first quarter of 2015, which ended on 31 March 2015. In the same quarter of 2014 it posted a net profit of US$6.67m.

Egypt: Misr Beni Suef Cement has reached an agreement to build a coal mill worth US$27.9m in 12 months.

"The project will be funded through self-financing and loans," said Misr Beni Suef. The company expects the project to be completed by the end of 2015. Egypt is currently struggling with blackouts and the government has cut natural gas supplies to plants, which has prompted cement companies to switch to coal.

Egypt's natural gas production has been declining for years. Production in January 2014 was down by 10% from January 2013, according to the most recent government figures. In September 2014, the Egyptian government began to allow coal imports despite environmental concerns from the high pollution coal emits.

Egypt: Omar A Mohanna, Chairman of Suez Cement, has announced that the company intends to alter its energy mix to use 20% of its energy from waste recycling and 80% from coal during 2014. He added that the Ministry of Environmental affairs has not announced its position on the use of coal, according to AlAhram News. Previous energy supply shortages have reduced production at Suez Cement to 50%.

In related news, the CEO of the Misr Beni Suef Cement Company revealed that his company has received an official letter from the Egyptian government informing the company that the natural gas supply to their facilities will be completely cut in May 2014. The letter added that the government will supply enough Mazut to the company to operate one production line.

Egypt: Production at Misr Beni Suef's cement plants was stopped for the second time in two months on 6 December 2012 due to shortage in natural gas supply. The company has reported that the lack of fuel has led to a loss of approximately US$16.5m and that it may lead to the dismissal of some of its workforce if continued.

Misr Beni Suef's managing director Farouk Moustafa said that the company had sent a letter to the Egyptian President Mohamed Mursi seeking a solution to the gas supply cut but that no response had yet been received.