Cement News tagged under: Kenya
EAPC restructuring enters final phase03 September 2020, Published under Cement NewsThe restructuring of East African Portland Cement Co (EAPC)’s human resources in Kenya is entering its final phase with 270 employees seeing their permanent contracts converted to contract terms. Speaking during a consultative meeting with the permanent staff, the acting MD, Stephen Nthei, said the strategic objective is to reduce administrative costs as outlined in the turnaround strategy adopted by the board and to comply with regulations outlined by the State Corporations Advisory Commit... |
Bamburi Cement sees surge in profit before tax28 August 2020, Published under Cement NewsKenya’s Bamburi Cement has announced a 15 per cent YoY decline in turnover to KES16.23bn (US$150m) for the first half of 2020, against KES18.66bn in the 1H19. However, the company saw a surge in profit before tax to KES213m from KES23m in January-June 2019. |
East African Portland Cement meets distributors amidst falling demand10 August 2020, Published under Cement NewsThe East African Portland Cement Company (EAPCC) of Kenya is enhancing dealer and distributor incentives to push cement sales during the pandemic. CEO, Stephen Nthei, met with distributors in a tour of Nyandarau county to set a strategy and look to understand the challenges facing distributors and customers. "COVID-19 has had quite an impact in sales of cement. But we are seeing a bounce back as businesses start requesting for orders," Nthei said. "Dealers and distributors will get more in... |
East Africa: keeping the lights on28 July 2020, Published under Cement NewsWith overcapacity and pricing pressures weighing in on the east African cement industry, cement producers are setting their sights on the return of strong demand by 2023. In the meantime, will they prepare by taking up a stronger position, possibly through industry consolidation? By Standard Investment Bank, Kenya. The Tanzanian cement industry is expected to see an improving landscape from 2021 The East African Community (EAC) recorded real GDP growth of 5.9 per cent in 2019, s... |
The dangers of debt13 July 2020, Published under Cement NewsIn this month’s Technical Forum, Dr Michael Clark considers how the history of the Kenyan cement industry can serve as a case study for some of the dos and don’ts of the sector. Going forward, impaired sales performances may increase company debt levels but this is far from the only reason why debt can be easily accrued. ARM Cement fell into bankruptcy after building up debt through an ambitious expansion programme and then being hit by both a demand contraction and price war in 20... |
Bamburi Cement donates KES15.6m in the fight against COVID-1913 July 2020, Published under Cement NewsBamburi Cement (LafargeHoldim group) has donated KES15.6m (US$145,600) in the fight against coronavirus to the Kenyan government's COVID-19 Emergency Response Fund. KES5m of the donation is a direct cash contribution for immediate assistance, KES5.2m is directed at personal protective equipment (PPE) and KES2.4m will support communities in Mombasa, Kilifi, Machakos, Kwale and Kjiado which need water tanks for hand washing, face masks and hand sanitisers. A further KES3m is set aside for f... |
African cement escapes the pandemic; structural issues remain05 June 2020, Published under Cement NewsCemtech's latest webinar discussed Africa's cement sector and the impact of COVID-19 on the continent. Tony Hadley of consultancy THAA, and Erkam Kocakerim, CEO of Limak Afrika SA, covered several areas of concern from the impact of the COVID-19 pandemic on economies and cement demand to overcapacity and competition issues, while also providing a long-term outlook for the continent. Thomas Armstrong, Managing Editor of International Cement Review, opened the webinar with an overview of the ... |
East African Portland Cement Co offers early retirement01 June 2020, Published under Cement NewsTo avoid total collapse, Kenya’s East African Portland Cement Co (EAPCC) is offering voluntary early retirement for its 800 employees, reports The East African. EAPCC Acting Managing Director, Stephen Nthei, said the programme is a one-time event open to all employees. Through the programme, the company hopes to achieve sustainable operational costs at a time when the company is struggling to remain afloat amidst mounting losses and declining cement sales. “The industry has witnessed a s... |
Huaxin Cement acquires ARM Cement's Tanzanian unit20 May 2020, Published under Cement NewsThe Tanzanian unit of Kenya's ARM Cement has been sold to China's Huaxin Cement, according to its administrator PricewaterhouseCoopers. Huaxin is expected to invest US$116m into Maweni Limestone Ltd to settle liabilities and another US$30m to complete a plant construction and upgrade. "Securing a suitable investor with the ability to make the requisite investments and inject much-needed capital to boost Maweni's operations [...] was a top priority [...] given Maweni's dire financial si... |
Bamburi sees 37% drop in net profit in 201911 May 2020, Published under Cement NewsKenya-based Bamburi Cement has posted a 37 per cent YoY fall in net profit in 2019. Net profit declined to KES359m (US$3.39m) from KES572m in 2018. The company attributed the decrease in profit to reduced domestic cement consumption, low prices and an inability to access the Rwandan market due to the closure of the border with Uganda, denying its Uganda subsidiary Hima Cement access to the Rwandan market early last year. Bamburi’s revenues slipped by 1.2 per cent to KES36.79bn in 2019 fro... |