Cement News tagged under: Lafarge Africa
Lafarge Africa to sell SA unit?05 January 2018, Published under Cement NewsLafarge Africa could put up its South African unit for sale, according to analysts at Exotix Capital. Proceeds of the sale could then be used to strategically shore up and stabilise the company’s Nigerian business, kickstarting the region’s merger and acquisition activity. The South African cement sector has become increasingly competitive while in the rest of Africa, PPC, Lafarge, Dangote, Bamburi and Twiga Cement are seen consolidating their markets. In addition, Chinese investors have ... |
Lafarge Africa to cut debt by US$270m01 December 2017, Published under Cement NewsLafarge Africa will use some of the funds raised by a NGN131.6bn (US$415m) rights issue to cut debt by US$270m, as reported by Reuters. The company inherited US$507m in shareholder loans and US$88m of third-party foreign currency debt when it acquired UNICEM in 2015. This debt would expose Lafarge Africa to a foreign currency loss due to the sharp fall in value of the naira. However, the rights issue is expected to help reduce the debt by almost half. Lafarge Africa announced a pretax ... |
Lafarge Africa buys out shareholders of Ashaka Cement24 November 2017, Published under Cement NewsLafarge Africa has bought out the minority shareholders of Ashaka Cement and issued 85.26m shares as part of a share exchange agreement, reports The Nation. The Nigerian cement manufacturer will now become a wholly-owned subsidiary of Lafarge Africa. The voluntary delisting of Ashaka Cement from the Nigerian stock exchange and its subsequent consolidation by Lafarge Africa, will offer shareholders a more diverse revenue stream. Lafarge Africa acquired a majority stake in Ashaka after ... |
Lafarge Africa receive shareholders endorsement for merger15 November 2017, Published under Cement NewsLafarge Africa have received the shareholders endorsement for a merger with Unicem and Atlas Cement Company Ltd, according to Nigerian newspaper The Guardian. "The merger is part of the asset consolidation we began in June 2014. It will solidify our market position in Nigeria particularly our presence in the South-South and South-East regions," said Michel Pucherchos, CEO of Lafarge Africa. Unicem has a cement production capacity of 5Mta at its Mfamosing plant, whilst Atlas has a capaci... |
Ashaka Cement approves Lafarge Africa's acquisition deal31 October 2017, Published under Cement NewsShareholders of Ashaka Cement Plc have approved the complete acquisition of the company by Lafarge Africa, in a deal with a cash consideration of NGN604.092m (US$16.8m) and total value of NGN5.97bn. The shareholders of Ashaka Cement agreed to allow Lafarge increase its stake in the company from 86.51 per cent to 99.99 per cent. However, the deal is subject to approval by the regulatory authorities, said Ashaka Cement. Meanwhile, Ashaka Cement Plc's energy strategy has helped it gr... |
Lafarge Africa and COREN develop Nigeria's first concrete manual11 August 2017, Published under Cement NewsLafarge Africa Plc is set to partner Council for the Regulation of Engineering in Nigeria (COREN) in the research and development of Nigeria’s first concrete mix design manual. The concrete mix design manual provides step-by-step guidance on the selection and proportioning of concrete ingredients such as cement, sand and aggregates, and then the mixing and placing of concrete. The manual came after exhaustive research and testing with concrete materials in different parts of the country.... |
Lafarge board approves merger with Unicem, Atlas Cement07 August 2017, Published under Cement NewsThe board of directors of Lafarge Africa has approved the commencement of a merger with United Cement Company (Unicem) and Atlas Cement Co, according to a statement by the company published on the website of the Nigerian Stock Exchange (NSE). The company will now seek the approval of the Securities and Exchange Commission and all other relevant regulatory bodies to further the implementation of the merger. |
Lafarge Africa to seek shareholders approval17 May 2017, Published under Cement NewsLafarge Africa is to seek shareholders’ approval for a NGN140bn (US$443m) rights issue during its 58th Annual General Meeting to be held on 7 June 2017, the company has informed the Nigerian Stock Exchange. Also on the AGM agenda is a proposal to shareholders to approve the merger of subsidiary Unicem into Lafarge Africa. The proposals, according to the company, will strengthen its balance sheet and capital structure by reducing foreign currency exposure and optimising the Lafarge Afric... |
Lafarge Africa seeks approval to raise NGN140bn09 May 2017, Published under Cement NewsLafarge Africa plans to seek shareholders' approval next month to raise NGN140bn (US$445.86m) and also convert some loans into equity as part of the capital injection, the company said on Monday. The local business of Lafarge Holcim said it will seek approval to convert loans due from a shareholder to equity under the rights issue. (Source: Reuters) |
Lafarge Africa revenue rises26 April 2017, Published under Cement NewsLafarge Africa Plc announced a profit after tax of NGN5.2bn (US$17m) versus NGN1.9bn in the same period of last year driven by an increase in revenue, comparatively higher gross margin and higher investment and other income. Cement revenue grew by 61 per cent YoY, as relatively higher prices in both Nigeria and South Africa more than offset the lower sales volume experienced in both markets. In Nigeria volumes grew by six per cent compared to the final quarter of 2016 but were down by 12 ... |