Rak White Cement unveils $27m production line

New line will double capacity - firm also reports improved 2012 sales

NEWS, Business, Financial results, RAK White Cement, Sharjah cement

A pair of cement manufacturers from the United Arab Emirates have reported significantly improved results for 2012 on the back of a strengthening marketplace.

Ras Al Khaimah Co for White Cement & Construction Materials reported a 7% increase in sales to $116.4m (AED: 427.4m).

The company's net profits dropped by 44% ro $10.3m, meanwhile, and its current liabilities increased by 32% to $52m.

A director's report accompanying the accounts attributed this to spending on projects such as the construction of its new construction line and the upgrading of a third kiln used for white cement.

The new production line, which has just been inaugurated by chairman Sheikh Ahmed bin Humaid Al Qasimi , will boost RAK White Cement's production capacity by 100%.

The total production capacity of clinker will now rise to around 580,00 tonnes a year.

Meanwhile, Sharjah Cement & Industrial Development said that annual sales climbed by 5% to $167.4m (AED: 615m).

This helped a significant turnaround in its profitability - the company moved from making a net loss of $12.5m (AED: 46m) in 2011 towards a profit of $6.5m (AED: 24m).

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