Cement News tagged under: Kenya
Kenya: ARM Cement reportedly nears deal with foreign investor on stake08 March 2016, Published under Cement NewsKenyan producer ARM Cement is in the “final lap of concluding investment details with a potential investor,” CEO, Pradeep Paunrana, told Bloomberg in a recent interview. In December ARM announced it was in talks with a foreign institution that planned to invest as much as US$125m. The company has faced “liquidity challenges” that cast doubt on whether it is able to meet obligations on its commercial-paper programmes, the Capital Markets Authority said on Monday. In January, ARM said the for... |
Kenya: EAPCC issues profit warning26 February 2016, Published under Cement NewsKenya-based East African Portland Cement Co (EAPCC) expects its profit to fall by more than a quarter in the financial year ending June 30 citing year-earlier gains on land sales, Reuters reported yesterday. "The unrealised fair value gain on investment property and the gain on disposal of land will not recur this financial year," EAPCC said in a statement. The company's pretax loss widened to KES745.02m (US$7.33m) in the first half on higher finance costs and foreign exchange losses. EAP... |
Kenya November 2015 demand down 5.5%11 February 2016, Published under Cement NewsCement consumption in Kenya fell by 5.5 per cent from 520,833t in October to 492,340Mt in November 2015, according to the Kenyan Bureau of National Statistics. Output decreased 4.8 per cent to 522,446t in November from 547,509t the previous month. For the first 11 months of 2015, domestic demand reached 5.138Mt while production totalled 5.743Mt. |
Kenya: Bamburi railway supply boost02 February 2016, Published under Cement NewsBamburi Cement says it has earned KES1bn (US$9.8m) from supply of cement to the standard gauge railway (SGR) contractor, China Road and Bridges Corp (CRBC) according to a report by the Business Daily (Kenya). The cement maker is among local firms contracted by a Chinese contractor to supply materials for the KES327bn project. Bamburi said in an interview that it has supplied 300,000t of cement to the rail project since September 2014, earning it “over KES1bn.” “The SGR contract has incre... |
Kenya: UltraTech in the race to buy stake in ARM?13 January 2016, Published under Cement NewsUltraTech Cement is said to be eyeing a controlling stake in ARM Cement of Kenya, a Nairobi-based newspaper reported. According to the report, the Indian cement producer UltraTech Cement is in the race to acquire a controlling stake in Nairobi Securities Exchange-listed ARM Cement, in which it could buy convertible preference shares of up to US$125m (KES12.7bn). ARM announced 23 December it is in talks with an unidentified institutional investor about a US$125m investment. |
ARM in talks with international institutional investor31 December 2015, Published under Cement NewsKenyan producer ARM Cement is in ongoing talks with a strategic investor to support its expansion plan. The investment will be in the form of preference shares which may be converted into an equity stake. “ARM Cement Ltd is currently in discussion with an international institutional investor who intends to make an investment of up to US$125m (KES12.7bn) equity investment in the company through convertible preference shares,” said the firm in a cautionary notice. Further details of the i... |
Kenyan output and demand growth slows11 December 2015, Published under Cement NewsDuring the first 10 month of the year, Kenyan cement manufacturers increased output by 10.58 per cent YoY, The Star (Kenya) reported citing latest provisional data by the Kenya National Bureau of Statistics (KNBS). This is a slower pace of growth compared to 15.59 per cent in a similar period last year. In the period under review, 5.33Mt of cement were produced, a modest growth over the 4.82Mt recorded in 10M14. The highest monthly production this year was recorded in July at 570,904t, but... |
Kenya: ARM seeks KES10.7bn in private bond17 November 2015, Published under Cement NewsARM Cement is set to raise up to KES10.7bn (US$105m) in debt funding from private investors, to retire short-term debts, Kenya's Business Daily newspaper reported . The cement manufacturer is now raising the amount through a privately placed five-year bond whose offer opened on Thursday last week and runs until 2 December. “The proceeds from the five-year bond will be used to replace existing short term borrowings. There is no increase in total debt only refinancing existing short-term d... |
ARM swings to nine-month net loss, Kenya27 October 2015, Published under Cement NewsAthi River Mining (ARM) posted an after-tax loss of KES469m (US$4.6m) for the nine months to the end of September 2015, largely attributable to the depreciation in regional currencies against the dollar. The cement maker, which reported an after tax profit of KES1.1bn in the same period of 2014, said revenue for 9M15 rose seven per cent to KES11.7bn, thanks to increased cement sales in Kenya and in Tanzania. While the demand for cement grew more than 10 per cent during the period, "the sha... |
Kenya: Bamburi rolls out training seminars for improved construction quality standards30 September 2015, Published under Cement NewsOver 1600 masons from across the country are set to benefit from a training programme organised by Bamburi Cement to improve skills in the building and construction industry in Kenya. Bamburi Cement rolled out the free training seminars from across the country in August, a move aimed at improving construction quality standards in the country. The training seminars are part of the Builders Academy initiative started 12 years ago by the company, with the main objective to enhance masons’ ski... |