Cement News tagged under: Kenya
Athi River Mining pretax profit rises 24%25 July 2012, Published under Cement NewsKenya’s Athi River Mining posted a 24 per cent rise in first-half pretax profit thanks to increased cement sales. The country’s second-largest cement producer, behind Bamburi Cement, said pretax profit for the six months to June rose to KES790.96 (US$9.4m). The company is positive on its second-half outlook due to anticipated cut in interest rates, a stable shilling and good growth in infrastructure demand. It also expects its new 1.5Mta cement plant in Dar es Salaam, Tanzania to bo... |
Construction of Pokot plant delayed, Kenya12 July 2012, Published under Cement NewsConstruction of a new cement factory in Pokot, Kenya, which was set to be completed by the end of next year is experiencing delays and is now expected to take longer than expected. Kenyan newspaper, The Star, reported Rajesh Kumar Rawal of the Cemtech Sanghi Group – which is behind the 1.2Mta cement plant – as saying that the company has completed the planning stages and construction was scheduled to start this year. However, at present, no work is being carried out at the site. No furthe... |
Athi River Mining posts 17% first-quarter pretax profit15 May 2012, Published under Cement NewsKenya's Athi River Mining posted a 17 per cent rise in first-quarter net profit, helped by higher production and growing demand. Net income increased to KES258.2m (US$3.1m) in the three months through March, from KES220.2m a year earlier, the Nairobi-based company said in a statement. Revenue rose 61 per cent to KES2.74bn for the three months ended March. Its earnings per share rose to KES10.40 from KES8.90 in the same period of 2011. The company’s directors have proposed changing its name... |
Kenya: cement makers gamble on growing demand03 May 2012, Published under Cement NewsCement makers in Kenya are hoping demand from the housing sector, infrastructure and exports will sustain steady growth in consumption of the commodity in the local market. Despite reports of a slowing real estate sector, manufacturers say consumption of the cement increased in the 1Q12, driven by the other two segments. "This is driven mainly by three sectors: housing, infrastructure and exports. Overall consumption from these three sectors did increase in the first quarter," said Surend... |
Kenya: NSSF faces off with Lafarge over board seat at Bamburi24 April 2012, Published under Cement NewsNational Social Security Fund (NSSF) is set to open a fresh fight with French conglomerate Lafarge over the control of Bamburi Cement as it demands a seat on the cement maker’s board it lost last year. The cement firm – which is owned 58.4% by Lafarge – dropped NSSF representative Alex Kazongo from its board in March, citing his failure to attend successive meetings. Now, the fund has written to Bamburi Cement seeking a position in the board, but it says the company has told it to present ... |
East African Portland Cement shares reinstated, Kenya12 April 2012, Published under Cement NewsKenya's Capital Markets Authority has re-admitted shares of East African Portland Cement after a two-month suspension, saying doubts about the firm's ability to run its business had been quashed by continuous operations over the period. The shares had been suspended from trading on 17 January, to protect shareholders from a dispute between its board and the government, a 25 per cent shareholder that wanted to dissolve the board, citing an improper tender process for clinker. The High Court... |
Pokot Factory scheduled for completion at end-2013, Kenya10 April 2012, Published under Cement NewsA new 1.2Mta cement factory being constructed in the Pokot region of Kenya, will be completed within the next 15 months, Rajesh Kumar Rawal, director of the Cemtech Sanghi Group who is building the factory. Mr Rawal said the planning stages have been completed and the new plant is scheduled to be opened by the end of 2013. He said design of the plant, machinery and equipment was almost complete in India and China and will be shipped to Kenya in the coming months, AllAfrica news reports. ... |
Athi River Mining: East Africa expansion02 April 2012, Published under Cement NewsKenya-based cement producer Athi River Mining (ARM) earlier this week reported a significant rise in 2011 cement sales on the back of new domestic cement capacity. The company is now nearing completion of the first of three projects in the Tanzanian market and has secured additional funds for expansion as it seeks to harness increasing demand in the promising East Africa region. I n 2011, group turnover rose 37% YoY to KES8.2bn (US$99m) as cement sales increased 72%. This was helped by “t... |
Athi River pretax profit rises, Kenya28 March 2012, Published under Cement NewsKenya-based firm, Athi River Mining, posted a 23 per cent rise in 2011 pretax profit to KES1.36bn (US$16.4m), the company said while net profit came in at KES1150m. Turnover rose 37 per cent to KES8.2bn while cement sales increased 72 per cent helped by the commissioning of new capacities which came on-stream in late 2010. EBITDA rose 31 per cent from KES1.6bn in 2010 to KES2.2bn last year but operating margins were down two per cent in 2011 mainly due to the “rapid increases in cost of... |
Athi River calls for Kaloleni reopening, Kenya16 March 2012, Published under Cement NewsAthi River Mining has appealed to the National Environment Management Authority (Nema) to re-open its factory at Kaloleni in Kilifi County, saying they have met all the conditions the environmental body set. According to reports by the Standard, Athi River Managing Director Pradeed Paunrana, said they had fulfilled the nine demands set by Nema. "We are in fully compliance with the Nema order and should be allowed to operate," he said. Mr Paunrana said all land deals at the plant wer... |