Displaying items by tag: Najran Cement

Saudi Arabia: Najran Cement’s board of directors voted on 27 November in favour of the establishment of limited liability transport company. Due to market conditions, the new subsidiary will not be incorporated until 30 June 2020. Najran Cement did not confirm the size of the investment in its statement.

Saudi Arabia: Najran Cement has reported a net profit after tax in the three months to 30 September 2019 of US$3.77m, compared to a loss in the third quarter of 2018 of US$6.33m. Its earnings rose by 81% year-on-year to US$25.9m from US$14.4m. The company, whose total capacity at its Najran integrated cement plant is 5.6Mt/yr, made operational and personnel changes over the period, including appointing Mohammed Bin Manaa Bin Sultan Aballa as its new chairman in September 2019.

Saudi Arabia: Najran Cement has received a licence to export clinker from the Saudi Ministry of Commerce and Investment. The licence is valid for a year from 4 September 2019.

Saudi Arabia: Najran Cement has appointed Mohammed Bin Manaa Bin Sultan Aballa as its new chairman. He will be supported by Salah Bin Yassin Bin Khalil Allaf as the deputy chairman. Abdul Salam Bin Abdullah Bin Abdulaziz Alduraibi has also been appointed as a managing director at the cement producer.

Saudi Arabia: Najran Cement’s sales rose by 20% year-on-year to US$48.7m in the first half of 2019 from US$40.6m in the same period of 2018. Its net profit after Zakat and tax was US$0.92m, after a loss previously. It attributed its increased sales and profit to higher sales volumes, better pricing and reduced production costs.

Saudi Arabia: Najran Cement has renewed its clinker export licence. It is valid for one year from 9 July 2019.

Saudi Arabia: Najran Cement plans to resume production by its third production line from the start of July 2019. The line has a production capacity of 6500t/day. At the same time it will temporarily suspend its second production line. This line has a production capacity of 3000t/day. The cement producer says it is making the changes to to compensate for decreased clinker inventory levels.

Saudi Arabia: Najran Cement’s sales fell by 20% year-on-year to US$74.2m in 2018 from US$92.3m in the same period in 2017. Its net loss after tax grew to US$22.3m from US$5.8m. The cement producer blamed this on market competition, poor prices and decreased sales volumes.

Saudi Arabia: Najran Cement has received a clinker export licence from the Ministry of Commerce and Investment. The licence is valid for one year from 30 April 2018.

Saudi Arabia: Badr Jawhar has resigned as the chief executive officer of Najran Cement for personal reasons.

In a separate announcement, Najran Cement has appointed Turki Bin Ali Al Shanifi to its board of directors. Turki Bin Ali Al Shanifi holds a degree in Computer Science, specialising in Information Systems and has over 20 years of experience in working with private sector companies in leadership positions. His appointment follows the resignation of Abdulwahab Bin Saud Al Babtain as an independent member of the board.