Displaying items by tag: Al Madina Cement Company

Saudi Arabia: The General Authority for Competition (GAC) has fined 14 local cement producers around US$37m for price fixing. The companies were found to have broken local competition law following an investigation by GAC. They are now each liable for a US$2.7m penalty. The producers concerned are: Al-Safwa Cement; Al-Madina Cement; Umm Al-Qura Cement; Al-Jawf Cement Company; Qassim Cement; Najran Cement; Southern Province Cement; United Industrial Cement; Yamama Cement; Riyadh Cement (Saudi White Cement); Arabian Cement; Saudi Cement; Yanbu Cement; and Hail Cement.

Oman: Al Madina Cement Company recorded a net profit of US$48.2m in 2019, up by 61% year-on-year from US$29.9m in 2018. Its sales rose by 54% to US$141m from US$91.9m in 2018.