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| OCI Announces a Record First Quarter Orascom Construction Industries, an Egyptian cement producer and construction contractor, announced consolidated revenue of EGP 3,286.2 million with earnings before interest, tax, depreciation and amortization (EBITDA) of EGP 945.0 million and net income of EGP 525.0 million for the first quarter ended 31 March 2006. During the same quarter last year, OCI reported consolidated revenue of EGP 2,440.0 million with earnings before interest, tax, depreciation and amortization (EBITDA) of EGP 621.4 million and net income of EGP 340.5 million. OCI consolidated earnings grew 54% on the back of strong construction margins, and solid performance by the Cement Group. During the first quarter, was completed the acquisition of Van cement plant in Eastern Turkey and concluded a contract with ThyssenKrupp's subsidiary Polysius to improve efficiency and upgrade capacity to 1 million tons. write your comments about the article :: © 2006 Construction News :: home page |