Construction

Tabuk Cement Company appoints new chairman of the board

Saud Suliman Al Juhani to take over from Dr Saeed Obaid from April 14, 2019

Tabuk Cement Company, a leading manufacturer and seller of cement and related products for construction industries in Saudi Arabia, has announced the appointment of Saud Suliman Al Juhani as the new chairman of the board.

Al Juhani will step into the role from April 14, 2019 and he will replace Dr Saeed Obaid who stepped down from the role due to his other business commitments, the company said in a filing to Tadawul, the Saudi bourse.

At a recent meeting, Tabuk’s board appointed Khalid Al Angari as the new vice chairman for the company. The current board term ends on January 25, 2020, it added.

Located in the north-west of the country, Tabuk reported a net loss of $8.65 million for the fourth quarter of 2018, compared to $5.73 million in the same period for 2017, according to figures released in March 2019.

The results missed EFG Hermes’ Q4 2018 estimates of a loss of approximately $533,000, according to a Zawya report at the time.

The full-year 2018 net loss after Zakat and tax amounted to $26.3 million, compared to a net loss of $6.34 million for the full year 2017.

However, earlier this year, the company announced that it had signed an agreement with Golden Oil Company for the export of 500,000 tonnes of clinker to Yemen.

A major player in the regional industrial zone, Tabuk Cement Company is a member of Arab Union for Cement and Building Materials and has been certified by Saudi Arabian Standard Organization (Saso) for quality mark since 2001.

It is also involved in the establishment of factories and plants for manufacturing cement-related products and construction materials; and export of cement and related products

 

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