Displaying items by tag: Saudi Cement Co

UK: The World Cement Association (WCA) has appointed three new directors: Fabien Charbonnel, the chief executive officer (CEO) of Cem’In’Eu; Xu Gang, the chair of the board of Maweni Limestone and Vice President and Head of Overseas Area of its parent company Huaxin Cement; and Kevin Lunney, the chief operations officer of Mannok Holdings. The appointments were agreed at the WCA General Assembly Meeting, which took place in January 2023.

At the same time Mohammed Ali Al-Garni, the CEO of Saudi Cement, and Roland van Wijnen, the CEO of PPC, were re-elected to the board of directors. Vincent Lefebvre, the founder and executive chair of Cem’In’Eu, and Mahendra Singhi, the managing director and CEO of Dalmia Cement, have also resigned as directors. They joined the board of directors of the WCA in 2019 and 2020 respectively.

Saudi Arabia: Saudi Cement recorded sales of US$84m in the first quarter of 2022, down by 49% year-on-year from first-quarter 2021 levels. Its net profit in the quarter was US$16.3m, down by 49%.

Saudi Arabia: Cement output rose slightly to 53.7Mt in 2021 from 534Mt in 2021. Clinker output increased by 12% year-on-year to 55.1Mt from 49.2Mt. Cement exports fell by 32% to 1.44Mt from 2.13Mt but clinker exports grew by 50% to 6.73Mt from 4.50Mt. Saudi Cement remained the country’s largest clinker export but exports from Yanbu Cement and Arabian Cement grew sharply.

Saudi Arabia: Saudi Cement has appointed Khalid Abdulrahman Al-Rajhi as the chair of its board of directors. The term started at the beginning of January 2022 and has a duration of three years to the end of 2024. Other appointments include Mohammed Abdulkarim Al-Khereiji as vice-chairman and Mohammed Ali Al-Garni as secretary of the board of directors.

Saudi Arabia: Mansour Balghonaim has taken a seat on the board of Saudi Cement, effective retroactively from 30 June 2021. Blaghonaim has 16 years’ experience in banking and is head of business development wholesale banking at Gulf International Bank. He acquired his degree in finance from King Saud University, Riyadh.

Saudi Arabia: Saudi Cement’s consolidated sales totalled US$207m in the first half of 2021, up by 3.9% year-on-year from US$199m in the first half of 2020. Its net profit for the period took an 8.2% drop to US$54.9m from US$59.8m.

Saudi Arabia: Saudi Cement has reported sales worth US$39.3m in the first quarter of 2020, up by 12% year-on-year from US$35.3m in the corresponding period of 2019. Sales grew by 15% year-on-year to US$120m from US$104m. The company attributed the increased profit margin to greater demand, which offset higher general, administrative, selling and distribution expenses.

Saudi Arabia: Saudi Cement has appointed Saleh Bin Muhammad Al Muhanna as a director. He will suceed Ahmed Bin Muhammad Al-Omran in the role with effect from 1 June 2020. Al-Muhanna is currently the Director of Research and Studies Administration at the Public Institution for Social Security. He holds a master’s degree in actuarial science from the University of Connecticut, US and a bachelor’s degree in mathematics from King Saud University.

Saudi Arabia: Saudi Cement has posted a profit of US$120m in 2019, up by 13% year-on-year from US$108m in 2018. Mubasher has reported that increased sales offset higher costs, with notable growth in the fourth quarter of 2019 of 15% year-on-year, to US$38.3m from US$33.3m in the last three months of 2018.

Saudi Arabia: Saudi Cement’s sales revenue rose by 26% year-on-year to US$194m in the first half of 2019 from US$154m in the same period in 2018. Its net profit after Zakat and tax grew by 12% to US$59.9m from US$53.4m.