Displaying items by tag: Qalaa Holdings

Egypt: Qalaa Holdings recorded first-quarter 2022 sales of US$991m, more than double its figure for the first quarter of 2021. Its loss during the quarter was US$30.9m, up by 22% year-on-year from US$25.4m. Its subsidiary ASEC Holding Group increased its sales by 46% year-on-year to US$53m. The cement company attributed the growth to the 'strong performance' of its integrated cement plant in Sudan.

Daily News Egypt has reported that Qalaa Holdings is currently prioritising the on-going restructuring of its debts.

Algeria: Egypt’s Qalaa Holdings has announced that its subsidiary ASEC Cement is looking to exit from Algeria-based Zahana Cement Factory. ASEC holds around a 35% stake in the Algerian facility and has so far invested US$62m in the plant, taking its capacity to 0.75Mt/yr. A new 1.6Mt/yr production line is currently being constructed at the plant, with commissioning expected in early 2020.