Qassim Cement Company Announces the latest developments regarding receiving notice from Saudi Aramco indicating adjustments to the prices of fuel products
| Element List | Explanation |
|---|---|
| Introduction | Referring to company’s announcement published on the Tadawul website on 02/01/2025 corresponding to 02/07/1446 (H), regarding that company has received a notice from Saudi Aramco indicating adjustments to the prices of fuel products, the company would like to clarify the expected financial impact. |
| Previous Announcement | Company's announcement that it has received a notice from Saudi Aramco indicating adjustments to the prices of fuel products. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-01-02 Corresponding to 1446-07-02 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event |
The company announces the expected financial impact from the adjustments on the prices of fuel products.
The company reaffirms its full dedication to continue minimizing the financial impact and safeguarding the interests of its esteemed shareholders through enhanced business efficiency, responsible and sustainable development, and the implementation of the most effective measures.
It is also worth noting that the company joined the Industrial Sector Competitiveness Program in 2024, which contributes to reducing the financial impact and improving energy consumption efficiency. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The expected financial impact of adjusting the prices of fuel products used in the operation of the company's two plants in Qassim and Hail is an increase of 5% of the total production cost, starting from 01/01/2025. |
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Qassim Cement Company is a Saudi Joint Stock company, established in accordance with the Royal Decree No. M/62 on 15 Shaban, 1396H. (August 11, 1976) and registered in Buraydah City under commercial registration number 1131001224 on 28 Shaban, 1398 (August 2, 1978). On 4 of Dhu al-Hijjah 1445 AH (June 10, 2024), Qassim Cement Company announced the completion of the acquisition of Hail Cement Company (HCC) by increasing its capital through the issuance of new shares to Hail Cement Company shareholders.
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Qassim Cement Co.| Building No: 4266 | Unit Number: 1 | Buraidah: 52271 - 6735 | Kingdom of Saudi Arabia
Phone : (+966) 16 316-5555
Fax : (+966) 16 381-6041
Email : qcc@qcc.com.sa
