Cement News tagged under: Kenya
Kenya: Lafarge under competition probe16 May 2014, Published under Cement NewsKenya’s antitrust authority may force Lafarge SA to sell some of its domestic interests if the cement maker is found to be flouting domestic competition rules, according to Bloomberg reports. The Competition Authority of Kenya is probing Lafarge’s influence on Kenya’s cement industry through its 59 per cent stake in Bamburi Cement Co and 42 per cent shareholding in East Africa Portland Cement Co (EAPCC). The findings will be published next month, Director-General Francis Kariuki said in an ... |
EAPCC issues profit warning16 May 2014, Published under Cement NewsEast African Portland Cement Co Ltd (EAPCC) expects profit for its full year through June to fall by more than 25 per cent, it said on Friday. The company blamed rising competition in the sector and high staff costs for the forecast. "These challenges have had an adverse effect on sales revenues whilst staff and other unavoidable costs were incurred," EAPCC said in a statement. |
Nigeria: Dangote to stabilise cement price08 May 2014, Published under Cement NewsSpeaking to shareholders at the 5th 2013 Annual General Meeting Aliko Dangote, Chairman of Dangote Cement Plc, pledged that his company would intensify direct-to-consumer deliveries to help stabilise cement prices in Nigeria. Aliko Dangote admitted that most input costs into cement production have risen to an "astronomically high" level, but that his organisation is committed to reducing prices. Dangote sold 13.3Mt of cement in Nigeria within the financial year representing an increase of 2... |
Tande's term as MD of East African Portland Cement extended, Kenya25 April 2014, Published under Cement NewsKephar Tande's term as managing director of East African Portland Cement Co (EAPCC) has been renewed for a further three years. Industrialization and Enterprise Development Cabinet Secretary Adan Mohamed confirmed the extension of Tande’s tenure, effective from November 2013. "I wish to thank the cabinet secretary and president, Uhuru Kenyatta, for the re-appointment. I am committed to fully implementing the strategy that the company has embarked on to raise its market share and to ensure... |
Savannah Cement plans new clinker line, Kenya22 April 2014, Published under Cement NewsSavannah Cement, the newest entry in the Kenyan market, plans to invest US$200m in the construction of a new clinker line to boost regional sales. A joint venture between Kenyan and Chinese investors, Savannah Cement currently operates a grinding plant at Athi River. The new plant has five packing lines and is capable of producing 1.5Mta of cement. Board chairman Benson Ndeta, announced on Thursday that the company hopes to be a major competitor in the regional market in the supply of ... |
Kenya: ARM Cement reports 12% rise in pretax profit01 April 2014, Published under Cement NewsKenya’s second largest cement producer ARM Cement saw a 12 per cent rise in full year pretax profit to KES2bn (US$23.17m). Earnings per share increased to KES2.73 from KES2.52, the company said in a statement. |
EAPCC pretax profit hit by rising costs27 March 2014, Published under Cement NewsEast African Portland Cement Co (EAPCC) said on Wednesday its pretax profit more than halved for the six months ended December due to rising administration and sales costs. Portland's pretax profit fell to KES171m (US$2m) from KES376.5m in the same period in 2012. The Kenyan firm, which also operates in Uganda, said its total revenues rose 0.4 per cent to KES4.57bn, while cost of sales increased 1.4 per cent to KES3.25bn. Administration and selling expenses rose to KES1.26bn from KES1b... |
Bamburi relaunches Powercrete, Kenya20 March 2014, Published under Cement NewsLafarge’s Kenyan subsidiary Bamburi Cement has announced it will relaunch its Powercrete cement for use in large infrastructure works and in the private and public sector. The relaunch comes after increased competition in the Kenyan market following the arrival of Dangote Cement. In 2013, Bamburi has seen its profits fall by nearly a quarter and closed the year with sales of KES33.9bn (US$394m), a performance significantly below its 2012 level. Kenya is currently investing considerably... |
Bamburi: operating profit plunges 24% YoY, Kenya07 March 2014, Published under Cement NewsBamburi Cement’s 2013 turnover declined by 3.6 per cent to KES33.9bn while operating profit fell 24 per cent amid an increasingly competitive market. Commenting on the company’s results, managing director Hussein Mansi, said: “In the first half of 2013, we experienced a drop in the company’s performance mainly attributable to competitive pressure in Uganda and we also saw a significant reduction of exports out of Uganda to the inland Africa markets due to political tensions, which impacte... |
Dangote eyes 3Mta Kenyan plant construction03 March 2014, Published under Cement NewsAlhaji Aliko Dangote, president of the Dangote Group, has said his conglomerate is planning to build a greenfield cement plant in Kenya. Dangote made the disclosure during the visit of the Kenyan deputy prime minister, William Ruto, to Dangote Cement Obajana plant in Kogi State, Nigeria, on Friday. The pending plant is slated to have a capacity of 3Mta. The Kenyan deputy prime minister said he was impressed with Dangote’s Obajana, telling local press that “as soon as the remaining two lice... |