{"id":598270,"date":"2019-05-20T04:03:47","date_gmt":"2019-05-20T04:03:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/"},"modified":"2019-05-20T04:03:47","modified_gmt":"2019-05-20T04:03:47","slug":"suez-cement-suspends-tourah-cement-co-operations-due-to-losses","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/","title":{"rendered":"Suez Cement suspends Tourah Cement Co operations due to losses"},"content":{"rendered":"

Suez Cement has decided to temporarily suspend the operations of Tourah Portland Cement Company, of which it owns 66.12%, on the back of \u201cdeteriorating financial results and the accumulated losses\u201d at the subsidiary, the company said in a statement (pdf)<\/a>. Suez did not say when operations would resume, but said losses were \u201cexceeded the value of the shareholders' equity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Suez Cement has decided to temporarily suspend the operations of Tourah Portland Cement Company, of which it owns 66.12%, on the back of \u201cdeteriorating financial results and the accumulated losses\u201d at the subsidiary, the company said in a statement (pdf). Suez did not say when operations would resume, but said losses were \u201cexceeded the value […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7255],"tags":[1002,72,131,1784],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598270","post","type-post","status-publish","format-standard","hentry","category-manufacturing","tag-cement","tag-enterpriseam","tag-manufacturing","tag-suez-cement","wpautop","entry"],"acf":{"mongo_id":"1095d242-8a99-4862-a2ab-e87adebcf0c6","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[598247],"teaser":"","voice_url":""},"yoast_head":"\nSuez Cement suspends Tourah Cement Co operations due to losses - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suez Cement suspends Tourah Cement Co operations due to losses\" \/>\n<meta property=\"og:description\" content=\"Suez Cement has decided to temporarily suspend the operations of Tourah Portland Cement Company, of which it owns 66.12%, on the back of \u201cdeteriorating financial results and the accumulated losses\u201d at the subsidiary, the company said in a statement (pdf). Suez did not say when operations would resume, but said losses were \u201cexceeded the value […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-20T04:03:47+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Suez Cement suspends Tourah Cement Co operations due to losses\",\"datePublished\":\"2019-05-20T04:03:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/\"},\"wordCount\":68,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"cement\",\"EnterpriseAM\",\"Manufacturing\",\"Suez Cement\"],\"articleSection\":[\"Manufacturing\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/suez-cement-suspends-tourah-cement-co-operations-due-to-losses\/\",\"name\":\"Suez Cement suspends Tourah Cement Co operations due to losses - 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The MTO is for\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/331.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":637416,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/suez-cement-approves-helwan-cement-merger-to-sell-up-to-5-of-tourah-cement\/","url_meta":{"origin":598270,"position":1},"title":"Suez Cement approves Helwan Cement merger, to sell up to 5% of Tourah Cement","author":"enterpriseam admin","date":"15 November 2017","format":false,"excerpt":"The Suez Cement Company gave a preliminary nod yesterday to merging the Helwan Cement Company\u2019s operations into its own, according to an EGX filing (pdf). The company will be working on determining the legal and financial framework and setting a timeline for the transaction before bringing the matter to the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567944,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/suez-cement-to-delist-from-egypts-stock-exchange\/","url_meta":{"origin":598270,"position":2},"title":"Suez Cement to delist from Egypt\u2019s stock exchange","author":"enterpriseam admin","date":"13 December 2020","format":false,"excerpt":"Suez Cement and its subsidiary Tourah Cement are planning to delist their shares on the EGX, after both companies\u2019 board of directors approved the move during meetings last Wednesday, according to two separate regulatory filings (here and here \u2014 pdf). The companies will now need to seek regulatory approval to\u2026","rel":"","context":"In "EQUITIES"","block_context":{"text":"EQUITIES","link":"https:\/\/enterpriseam.com\/egypt\/category\/equities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568251,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/","url_meta":{"origin":598270,"position":3},"title":"Sign of the times for cement","author":"enterpriseam admin","date":"23 December 2020","format":false,"excerpt":"Suez Cement is going to go private after trying to buy out as many minority shareholders as possible. Shareholders sold some 12.4 mn shares for EGP 92.7 mn to Suez parent company Heidelberg Cement, the EGX said without giving further details. Heidelberg had targeted 59.8 mn shares at a MTO\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/394.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595964,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/15\/earnings-watch-raya-holding-domty-suez-cement-tourah-cement\/","url_meta":{"origin":598270,"position":4},"title":"Earnings watch: Raya Holding, Domty, Suez Cement, Tourah Cement","author":"enterpriseam admin","date":"15 August 2019","format":false,"excerpt":"EARNINGS WATCH: Domty 2Q2019 net profits fall 35% y-o-y: Arabian Food Industries (Domty) reported 2Q2019 net income of EGP 37.5 mn, compared to EGP 57.7 mn a year earlier, the company said in a bourse filing (pdf). 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