Cement News tagged under: Kenya
EAPCC in spat with CMA over Lafarge appointment31 December 2013, Published under Cement NewsEast African Portland Cement Company (EAPCC) has gone to court, seeking to lift the suspension of its annual general meeting resolutions by the Capital Markets Authority (CMA), according to a report in Kenya’s Business Daily. The company argues that the CMA lacks the mandate to suspend the resolutions since AGMs are overseen by the Registrar of Companies. CMA suspended the resolutions by shareholders two weeks ago following a protest from the government, which is the majority shareholder. ... |
Savannah Cement appoints CEO, Kenya09 December 2013, Published under Cement NewsSavannah Cement, one of Kenya's newest market entrants, has Ronald Ndegwa as its first chief executive. The company operates a 1.5Mta cement works in Athi River which was commissioned in July last year. Without a permanent CEO in place, the company has been undertaking an extensive search to find a suitable business leader to take the helm. Mr Ndeta has previously served as the Director of Supply Chain at Tata Chemicals Magadi. Prior to joining Tata Chemicals Magadi, Ndegwa had previously ... |
ARM Cement expects Kenyan market to grow for the next 50 years07 November 2013, Published under Cement NewsKenya's cement market is set to expand on the back of government infrastructure spending on ports and roads, while house builders trying to meet an annual deficit of some 440,000 units. A Bloomberg report claims that these factors are encouraging ARM Cement Ltd, Kenya’s second-largest cement maker, to raise capital by selling eurobonds to fund a US$300m expansion programme. ARM Cement looks committed to building cement capacity for the long term. Pradeep Paunrana, ARM's managing director, ... |
ARM Cement 9M13 pretax profit boosted by higher sales05 November 2013, Published under Cement NewsARM Cement posted a 28 per cent rise in pretax profit for the first nine months of the year boosted by higher sales. Kenya’s second largest cement producer said on Tuesday its profit rose to KES1.53bn (US$17.9m) as turnover rose 32 per cent to KES10.2bn. Earlier, the company forecast 35 per cent growth in earnings this year helped by increased production capacity due to a new 0.75Mta grinding plant in Tanzania. Next year the company is due to launch its second Tanzanian facility, a 1.5Mta ... |
ARM expects new capacity to boost earnings01 November 2013, Published under Cement NewsKenya’s ARM Cement said it expects earnings to increase at a faster pace this year thanks to its new capacity in Tanzania. In an interview with Reuters, ARM Cement’s chief executive, Pradeep Paunrana, told Reuters that the company is looking to increase its “top line and bottom line by 35 per cent over last year,” and expects similar growth next year regarding its expectations for profitability and sales.. The company commissioned a 0.75Mta grinding plant in the Tanzanian capital of Dar ... |
ARM anticipates higher earnings growth04 October 2013, Published under Cement NewsKenya-based ARM Cement expects a slight acceleration in earnings this year as new capacity in Tanzania boosts volumes, its chief executive has said. Referring to his expectations for profitability and sales, Pradeep Paunrana told Reuters: “This year we are looking at increasing our top line and bottom line by 35 per cent over last year and next year we expect a similar growth.” The company commissioned a 0.75Mta grinding plant in the Tanzanian capital of Dar es Salaam a year ago, adding ... |
Dangote plans to invest in new Kenya plant09 September 2013, Published under Cement NewsDangote Cement plans to invest in a new cement plant in Kenya, according to the country’s president’s office. Aliko Dangote was part of a business delegation that was visiting Kenya with Nigeria's President Goodluck Jonathan. The countries signed bilateral deals in sectors including tourism, agriculture and oil and gas. "(President Uhuru Kenyatta) particularly cited the ... the decision by Nigerian tycoon Aliko Dangote to invest US$400m in a cement processing plant as an indicator that ... |
Kenya’s cement consumption leaps further ahead of production19 August 2013, Published under Cement NewsKenya’s cement industry, the largest in East Africa, will benefit from increased government spending on infrastructure projects and investors should buy shares on price dips, according to Kestrel Capital East Africa Ltd. “Increasing government capital expenditure in power and transport infrastructure projects will aid cement consumption growth,” the Nairobi-based brokerage said. Domestic consumption is growing at a faster rate than production, and Kenya’s market is expected to consume 81 p... |
Bamburi confident on second-half turnaround08 August 2013, Published under Cement NewsKenya's Bamburi Cement reported a 12 per cent decline in pretax profit for the first six months of 2013 but is confident of a second-half turnaround in two of its core East African markets. In the six months to the end of June 2013, the Lafarge Group company posted a pretax profit of KES3.270m (US$37.46m) as turnover fell 18 per cent YoY to KES15.8bn. These results came against a backdrop of uncertainty over an election in its domestic market of Kenya and a slowdown in export markets. H... |
ARM Cement denies pollution claims08 August 2013, Published under Cement NewsARM Cement has denied claims of causing environmental pollution in the Kenyan coastal town of Kilifi, saying that its operations meet international practices and standards. CEO Pradeep Paunrana assured the residents living within the cement maker’s proximity that they are not exposed to pollution caused by cement manufacturing from its process. “Operations are pollution-free within and without the factory and we challenge anybody of contrary opinion to prove us wrong on this,” he said, add... |