Oman Daily Observer reported that Raysut Cement Company plans to bid for the Star Cement Group of Companies, which has interests in cement producing and packaging facilities in a number of countries in the Middle East and Africa.

Mr Mohammed Ahmed al Dheeb CEO of Raysut Cement said that "We would like to point out that after extensive discussions that took place among the Directors on the subject, the Board of Directors of Raysut Cement Company agreed to enter into a bid to acquire and own Star Cement Group of Companies and to submit a quotation in this regard."

The Star Cement Group's assets include a clinker production facility in Ras al Khaimah, cement grinding plants in Abu Dhabi, Ajman, Bahrain, Yemen and Bangladesh, a terminal for the storage and packaging of cement in Sudan and a precast factory in Abu Dhabi.

Salalah based Raysut Cement posted a net profit after tax of OMR 28.482 million in initial unaudited financial results for the year ended on December 31st 2009, compared to earnings of OMR 27.107 million for the previous year. The company achieved a turnover of OMR 93.407 million during 2009 up from OMR 89.056 million in 2008.

(Sourced from Oman Daily Observer)