Gypsum industry news

Saudi Arabia: National Gypsum Company has signed a contract with LVJOE Machinery Manufacturing Group for work to upgrade production lines at its Riyadh plaster plants, scheduled for completion in late 2025. Mist News has reported that the total value of the upgrades as US$3.96m.

Saudi Arabia: National Gypsum Company has signed a US$9.32m financing agreement with Riyad Bank. Mubasher News has reported that the loan will support expansions to its gypsum wallboard plants. The financing commenced on 5 January 2025, with a tenor of 18 months.

Saudi Arabia: National Gypsum Company recorded US$13.3m in sales in the first nine months of 2024, Reuters has reported. This corresponds to a year-on-year rise of 22% from US$10.9m in the corresponding period in 2023.

Saudi Arabia: National Gypsum Company’s sales rose by 19% year-on-year to US$8.76m in the first half of 2024, Arab News has reported. Nonetheless, its net profit dropped by 18% to US$450,000.

Saudi Arabia: National Gypsum Company’s sales amounted to US$13.8m in 2023, down by 5.5% year-on-year from US$14.6m in 2022. Reuters has reported that the company’s cost of sales dropped by 8% year-on-year. Nonetheless, it recorded a net profit of US$1.36m, against a US$1.71m loss in 2022.

Saudi Arabia: Mada Gypsum Company has announced the appointment of Sami Helmy as its president. The company noted Helmy’s distinguished track record in the industry and considerable experience in leadership roles. He has served as operations director at the company since 2017, and was previously technology director at The Industrial Group and Banawi Industrial Group. Helmy is a mechanical engineer by training, holding a degree from the University of King Abdulaziz in Jeddah.

Mada Gypsum Company said “Mr Helmy leads Mada Gypsum towards a future defined by innovation, success and Building Excellence.”

Saudi Arabia: National Gypsum Company expects its cost of sales to rise by 11% following a hike in fuel prices by Saudi Aramco from 1 January 2024. In an exchange filing, the company said that the increase will show in its results from the first quarter of 2024.

Saudi Arabia: The Saudi Arabian Public Investment Fund (PIF) has completed its acquisition of a 23% stake in paper products company Mepco. TradeArabia News has reported that the PIF aims to enable Mepco to expand production, increase efficiency and become more sustainable.

Mepco CEO Sami Al Safran said “PIF's investment further enables the implementation of our expansion strategy and captures significant growth potential, both locally and regionally. This will help create new opportunities, as Mepco continues its journey to become a national champion in our industry. Our company strives for sustainable growth and a better future, thanks to its unique strategy which integrates paper products and waste management. MEPCO is investing in the sector through ambitious projects to support Saudi Arabia’s goals of sustainability and transition to a circular economy by recycling, reducing waste and converting waste into energy sources to meet our business needs.”

Saudi Arabia: Canada-based Gyptech has won a contract to carry out an expansion project at a gypsum wallboard plant belonging to United Mining Industries. The project is scheduled to conclude 18 months after its commencement date. Reuters has reported the value of the contract as Euro12.3m.

Saudi Arabia: National Gypsum says it has renewed the environmental permit for its Riyadh wallboard plant for a period of three years. The renewal follows a study by the National Center for Environmental Compliance. The wallboard producer has also confirmed that its environmental permits have been renewed at its plants and quarries in Dammam and Yanbu.