Displaying items by tag: Misr Beni Suef

Egypt: Misr Beni Suef Cement has signed a contract worth nearly US$6m with solar energy supplier IRSC, in cooperation with JINKO and HUAWEI, to establish a solar power plant at its site in Beni Suef Governorate.

The project aims to increase the company’s use of clean energy and reduce the environmental impact of its industrial operations. The capacity of the facility has not been disclosed.

Egypt: Misr Beni Suef Cement has secured board approval for a reduction in its issued capital. Arab Finance News has reported that the company plans to reduce its capital by 10% to US$19.8m.

Egypt: Misr Beni Suef's sales were US$51.1m in the first nine months of 2022, up by 77% year-on-year from US$28.8m. Nonetheless, the producer recorded a loss of US$15.9m, compared to a profit of US$3.4m during the corresponding period of 2021.

Egypt: Misr Beni Suef recorded sales of US$23.5m in the first quarter of 2022, up by 70% year-on-year from US$13.8m in the first quarter of 2021. The producer recorded a net profit of US$2.57m, up by 28% year-on-year from US$2.01m.

Egypt: Misr Beni Suef recorded sales of US$16.3m in the first quarter of 2021, down by 37% year-on-year from US$25.8m in the first quarter of 2020. Reuters reported that the company’s profit also fell by 37%, to US$2.39m from US$3.79m.

Egypt: Arab Swiss Engineering Company (ASEC) has launched legal action against Misr Beni Suef Cement. The latter terminated the supplier’s technical management contract in mid-February 2021. Arab Finance has reported that the producer alleges that ASEC breached its commitments regarding its Beni Suef cement plant’s production capacity.

Egypt: Misr Beni Suef has reported a 101% year-on-year increase in net profit to US$3.76m in the first quarter of 2020 from US$1.87m in the corresponding period of 2019. Sales fell by 7.1% year-on-year to US$25.7 from US$27.6.

Egypt: Misr Beni Suef’s sales over the three months to 30 September 2019 were US$29.6m, up by 24% from US$23.9m in the corresponding period of 2018. This growth failed to offset the challenges of profitability in a saturated market, with profit falling by 2.7% year-on-year to US$1.34m from US$1.37m.

Egypt: Siemens has submitted an integrated survey of the digitalisation potential of various industries in four zones to the Ministry of Industry (MoI) with a view to improving the competitiveness of the country’s products. Daily News Egypt has reported that the Germany-based technology company has already signed contracts for the supply of digital efficiency solutions with El Ameria Cement and Lafarge Egypt. It is also negotiating with Misr Beni Suef for the installation of thermal emission measuring units at its 3.5Mt/yr integrated cement plant in Beni Suef, Maadi.

Egypt: ASEC Engineering has renewed its technical management contract with Misr Beni Suef Cement until the end of 2023. ASEC originally worked on the first production line at the plant in 2001. It maintenance contract was renewed in 2007 with the addition of a new production line. The cement plant has a production capacity of 3.1Mt/yr.