Displaying items by tag: Carthage Cement

Tunisia: Carthage Cement has submitted a statement to Tunisian police in which it alleges false testimony by FLSmidth’s lawyer who advised the Danish supplier in a criminal case which saw one employee sentenced to five years for illegal payments to Carthage Cement’s owners in 2017. Ritzau Finans newspaper has reported that FLSmidth’s management admitted to knowledge of the payments on 21 February 2020, something it had denied to authorities when under investigation prior to the trial, which concluded in November 2019.

Tunisia: Carthage Cement has obtained CE marking for its products to help it penetrate the European market. It plans to start a 0.15Mt cement export contract in March 2020.

Tunisia: Carthage Cement has announced a general improvement in its financial indicators as it forecast a gross operating income of US$25m for 2019. This would represent a 123% improvement from US$11.2m in 2018. Ibrahim Sana, Carthage Cement’s CEO anticipates a gross operating income as high as US$55m in 2023, with a targeted turnover of US$140m.

The company also announced a 0.1Mt export contract for cement to be sent to Spain.

Tunisia: Al Karama Holding says that that sale of a 50.5% share in Carthage Cement has been delayed following the latest round of bidding. The latest round of bids was extended to 7 December 2018 from 6 July 2018, according to local media. However, none of the pre-selected bidders were able to submit a qualifying financial offer. Some of the investors have contacted Al Karama Holding to confirm their interest in the purchase subject to certain conditions.

Tunisia: Carthage Cement’s loss has grown to US$16.2m in the first half of 2018 compared to US$9.6m in the same period in 2017. The cement producer has managed to increase its revenue but mounting operating costs have outpaced this, according to African Manager. Its turnover grew by 25.6% year-on-year to US$32.9m but operating expenses rose by 38.5% to US$47.6m. A dispute between management and staff also led to a production suspension in the first half of 2018.

A majority stake in the cement producer remains on sale following a call for expressions of interest in early 2018. The latest round of bidding is open until early December 2018.

Tunisia: Carthage Cement says that production has restarted at its Djebel Ressas plant. NLSupervision, a subsidiary of Denmark’s FLSmidth that holds a contact to operate the plant, resumed activity on 14 April 2018. Carthage Cement has also started marketing the cement locally once again. Production at the unit stopped in early April 2018 following a dispute between NLSupervision and staff. The company’s owners put the plant on sale in late 2017.

Tunisia: Production remains suspended at Carthage Cement due to a dispute between the NLSupervision and the staff. The management of NLSupervision, a subsidiary of Denmark’s FLSmidth that holds a contact to operate the plant, and union representatives have met several times to try and resolve the matter, according to the Tunis Afrique Presse. On 4 April 2018 NLSupervision shut down the plant for 60 days.

Tunisia: Clinker production at Carthage Cement’s plant in Djebel Ressas has stopped due to union action by the staff of NLSupervision. Concrete production, aggregate production and clinker export is proceeding as normal. The cement producer said that the management of NLSupervision and union representatives are currently meeting to resolve the issue. NLSupervision, a subsidiary of Denmark’s FLSmidth, holds an operation and maintenance contract for the cement plant.

Tunisia: Portugal’s Secil and Spain’s Cementos Portland Valderrivas have both submitted bids for Carthage Cement. Other bidders included local company Omnium des Industries et de la Promotion, Malta’s Eurocem and a consortium of Asamer Kurt, Petech and Melton Enterprise. The companies are bidding for a 50.52% stake in the Tunisian cement producer.

Tunisia: Carthage Cement has completed the loading of its first clinker shipment to Sub-Saharan Africa. The 38,000t consignment was loaded at the port of La Goulette. It is part of a 350,000t deal that the cement producer announced in December 2017.