ArabFinance:  Arabian Cement Company (ACC) incurred a consolidated net loss of EGP 39,776,059 in the first nine months of 2020, according to the company’s November 15^th financial statements filed to the Egyptian Exchange.

In the January-September period of 2019, the company posted a net profit of EGP 33,318,608. 

Standalone net loss reached EGP 38,250,946 in the January-September period of 2020, against a net profit EGP 32,581,022 posted in the corresponding period a year earlier.

Spanish cement group Cementos La Union, a majority shareholder in ACC, lost an arbitration case against the Egyptian government over the breach of a bilateral investment treaty, according to the Global Arbitration Review (GAR).

Arabian Cement is an Egypt-based company engaged in the manufacture of cement and concrete. Its products include clinker and ready-mix concrete, in addition to Al Mosalah, Al Tahrir, and El Sadd cement.