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News Saudi cement companies explore mergers amid market tension

Saudi cement companies explore mergers amid market tension

Written by Global Cement staff 13 September 2024
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Saudi Arabia: The crowded cement sector in Saudi Arabia is experiencing tensions due to its varying market shares, according to Majed Al Osailan, vice chair of the National Cement Committee. He noted that despite initial slow demand, renewed spending on construction has led to a shift, with most companies now able to meet market needs. The cement sector saw its first merger between Qassim Cement and Hail Cement, according to Argaam news, with another planned between City Cement and Umm Al-Qura Cement. NCC chair Badr Johar said that demand for cement is expected to strengthen substantially from late September 2024 to February 2025.

Last modified on 17 September 2024
Published in Global Cement News
Tagged under
  • Saudi Arabia
  • Merger
  • Deal
  • Qassim
  • Hail Cement
  • demand
  • market
  • GCW677
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