Suez Cement Company signs supply agreement with Egyptian Refining Company

Suez Cement Company (SUCE.CA) has announced the signing of a supply agreement with the Egyptian Refining Company (ERC) for the purchase of locally produced PETCOKE.

The company said Wednesday in a statement to the Egyptian Stock Exchange that the agreement provided for the Egyptian refinery to supply about 200,000 tons of coal per year for Suez cement, with the start of immediate delivery.

Suez Cement confirmed that the agreement allowed it to provide a partially used fuel mix by the local market, thus reducing logistics costs and thus ensuring continuity and stability of product supply.

The Company reported net income of 213.07 million pounds in the quarter ended March, compared to 117.06 million pounds for the same period last year, adjusted for minority interests .