Cement News tagged under: Kenya
LafargeHolcim03 September 2018, Published under Cement NewsLafargeHolcim has acquired Metro Mix LLC, a ready-mixed concrete producer in Denver, Colorado, which last year produced a turnover of some US$30m from two batching plants, employing in excess of 50 people. LafargeHolcim’s Kenyan subsidiary Bamburi Cement, active in Kenya and in Uganda has announced a first-half turnover 0.2 per cent lower than a year earlier at KES17,556m (EUR157.8m), with the trading profit falling by 56.2 per cent to 1164m (EUR9.9m) and the pretax profit falling by 72.9... |
East African Portland Cement pleads for more time03 September 2018, Published under Cement NewsSimon Peter Ole Nkeri, managing director of East African Portland Cement (EAPC), has urged the courts and creditors to give the company time, while it trims staff levels and sells 14,000 acres of land to the newly-established Special Economy Zones Authority (SPEZA). "All we are saying to the court is we need time to sort issues out and sell some assets. Creditors are also knocking on our doors, but we have a plan," said Mr Nkeri. EAPC needs to take urgent measures to return to pr... |
Bamburi Cement records 78% net profit decline in 1H1831 August 2018, Published under Cement NewsKenya’s Bamburi Cement has posted a 78.2 per cent YoY drop in net profit for the half-year period ended 30 June, falling to KES399m (US$3.96m) from KES1.83bn. Revenue remained flat at KES18.55m, compared to KES18.58bn of the previous year. The company noted the effects of a contracting market in Kenya on its performance. Meanwhile, in Uganda, a combination of lower sales due to production challenges, competitive pressure on prices and a slowdown in government expenditure negatively impact... |
EAPCC's plan to raise funds relies on court outcome28 August 2018, Published under Cement NewsKenya's East African Portland Cement Co (EAPCC) has announced that its plan to sell land to raise much-needed operational capital is dependent on the outcome of certain court cases. "We have all our land titles intact in the bank. They are under lock and key and those claiming share of Portland land assets need to understand this," said Peter ole Nkeri, managing director, EAPCC. The bailout plan was expected to raise KES15bn (US$149m), which would have enabled the company to pay its debts... |
Wilfred Murungi retires from ARM Cement20 August 2018, Published under Cement NewsKenyan billionaire Wilfred Murungi has parted ways with ARM Cement Ltd, ending his 24 years of tenure as a director at the cement producer. "I wish to inform all shareholders that after 24 years period serving as a director of ARM Cement PLC, and briefly as Board Chair, I will officially be retiring effective 13 August 2018," Murungi said in his announcement. "In the period I have served in the Board, I have seen the Company experience tremendous growth from a small plant producing 200 ... |
Linus Gitahi is appointed Chair of ARM Cement Board17 August 2018, Published under Cement NewsLinus Gitahi, former Nation Media Chief Executive, has been appointed the Chair of the ARM Cement Board following Wilfred Murungi's retirement. Deputy Managing Director Surendra Bhatia has also retired from the position effective immediately with Thierry Metro appointed as a non-executive, non-independent director. "The Board of Directors take this opportunity to extend its gratitude to the outgoing Chairman of the company and Deputy Managing Director for their immense contribution to the c... |
Former ARM CEO to remain as board member17 August 2018, Published under Cement NewsPradeep Paunrana, chief executive of ARM Cement PLC (Kenya), said on Thursday he planned to quit his post as part of a changes at the Kenyan cement maker, but now states he will stay on as a board member. "As founder shareholder and entrepreneur, I will be an active Board member and support the incoming CEO and the management team in strengthening stakeholder relationships with suppliers, customers and the Government in all the three East African countries where we operate," Pradeep Paunra... |
ARM seeks limestone mining permit15 August 2018, Published under Cement NewsARM is requesting government approval to mine limestone in five areas in Kilifi County, Kenya. The cement producer wants to mine the raw material over 24.931km 2 in the Chonyi, Pangani, Chairing, Maereni and Maseras areas. Kenya’s Ministry of Petroleum and Mining invited objections to the bid to be made within 42 days. This latest application is the third such permitting step following applications to mine in Kajiado and Makueni counties last month. These are currently under considerati... |
Bamburi Cement launches new rapid concrete solution30 July 2018, Published under Cement NewsBamburi Cement has launched a ready-mix concrete that will speed up construction time by enabling continuous concrete pour in projects of more than 2000t in under 48h. Pours of this volume usually take almost a month using traditional methods. The new product, Poweraft, is designed for the construction of foundations for skyscrapers, bridge piers and generally all applications requiring mass delivery of fresh concrete. Bamburi Cement’s Managing Director, Seddiq Hassani, said that Powera... |
Cement consumption in Kenya falls to 2.3Mt Jan-May 201820 July 2018, Published under Cement NewsCement consumption in Kenya in the first five months of 2018 dipped to 2.3Mt compared to 2.5Mt in the same period in 2017 reports the Kenya National Bureau of Statistics (KNBS). "The deceleration was reflected in the decline in consumption of cement from 1.5Mt in the first quarter of 2017 to 1.4Mt in the quarter under review," said KNBS in its quarterly gross domestic product report for the 1Q18. KNBS noted that the decline in consumption was also occasioned by notable decreases in the ... |