Displaying items by tag: Tabuk

Saudi Arabia: Tabuk Cement has appointed Saoud Bin Solaiman Al-Juhni as the chairman of its board of directors. Abdulaziz Bin Abdelrahman Alkhamis has been appointed as the deputy chairman and the cement producer has also announcement the composition of its executive and audit committees.

Saudi Arabia: Tabuk Cement has reported a profit after tax of US$1.34m in the nine months to 30 September 2019, compared to a US$5.12m loss in the corresponding period of 2018. Its sales grew 61% to US$15.6m from US$6.89m in the first three quarters of 2018. The company stated that a lack of sales quantity was offset by an improved average selling price.

Saudi Arabia: Tabuk Cement’s sales revenue grew by 29% year-on-year to US$30.4m in the first half of 2019 from US$23.5m in the same period in 2018. It attributed the sales growth to improved prices despite poor sales volumes. It reported a net profit after Zakat and tax of US$3.4m for the half, after a loss of US$0.27m in the first half of 2018.

Saudi Arabia: Tabuk Cement has appointed Saud Suliman Al Juhani as its new chairman. It follows the resignation of Saeed Obaid, who has left the position due to other business commitments but will retain a seat on the board. Tareq Khalid Al Angari has also been appointed as the Vice Chairman. Both positions will last until 25 January 2020.

Bangladesh/Saudi Arabia: Tabuk Cement is in talks with the government of Bangladesh to export clinker to the country. The company’s clinker inventory will decrease by 1.2Mt once the arrangement is completed, according to Mubasher. The proceeds of the deal will be recorded in the company’s financial statement for the first quarter of 2019.

Saudi Arabia: Tabuk Cement has appointed Ali bin Mohammed Al-Saif Al-Qahtani as its new general manager. It follows the resignation of Ali Bin Mohameha Al-Asmari. Al-Qahtani holds a bachelor's degree in Chemical Engineering from King Saud University and worked for a variety of companies including Saudi Aramco.

Saudi Arabia/Yemen: Tabuk Cement has signed a memorandum of understanding to export 6000t of cement to Yemen. The agreement has a duration of three months.

Saudi Arabia: Production at Tabuk Cement and Hail Cement has risen supporting the construction of the Neom technology city project in the north of the country. Output from the producers has risen by 20% and 55% respectively year-on-year in the first half of 2018, according to Bloomberg. Both companies are located in the north of the country near to the project. Meanwhile, most of the other local cement companies have reported declining production. The Neom project has been backed with an investment of US$500bn.

Saudi Arabia: Cement sales revenue is expected to fall quarter-on-quarter in the second quarter of 2018 due to restructuring in the industry and holidays in the period. A report by Al Rajhi Capital found that cement sales volumes fell by 16.7% year-on-year in April and May 2018. 15 cement companies reported falling sales volumes, led by Riyadh Cement and Cement City with 44.1% and 37.5% declines respectively. Only two companies, Tabuk Cement and Hail Cement, reported growth. Total inventory for the industry grew by 1.2% quarter-on-quarter to around 36.2Mt at the end of May 2018. The financial services company forecasts that revenue in the cement sector will fall by 6% year-on-year.

Saudi Arabia: Cement sales of companies operating in Saudi Arabia recorded an increase of 11.5% in July 2017. Sales rose to 3.49Mt in July 2017, compared to 3.13Mt during July 2016. Cement production in Saudi Arabia grew by 5% year-on-year to 3.37Mt in July 2017 from 3.2Mt, according to Yamama Cement Company.

Southern Province Cement topped the sales list with 409,000t sold in July 2017, although this was 5.32% less than the 432,000t that it sold in July 2016. Yamama Cement was the second most prolific seller, with a year-on-year sales growth of 17.5% to 369,000t from 314,000t in July 2016. Meanwhile, Tabuk Cement registered the lowest sales of 61,000t in July 2017, a 17.6% fall from 74,000t in the year-ago period.

In June 2017 cement companies’ sales in Saudi Arabia dropped by 40.6% year-on-year to 2.08Mt from 3.5Mt in June 2016. This is likely due to the earlier timing of Ramadan combined with temperatures of up to 45°C (113°F), both of which will have significantly reduced demand for building materials.