Cement News tagged under: Lafarge Africa
Lafarge Nigeria unit takes control of UNICEM06 October 2015, Published under Cement NewsAn affiliate of Lafarge Africa has completed a 100 per cent acquisition of Nigeria's third-largest cement manufacturer, United Cement Company of Nigeria (UNICEM). Lafarge said its affiliate Nigerian Cement Holdings (NCH), owned a 70 per cent equity in UNICEM before agreeing a deal last November to buy the remaining 30 per cent stake from Flour Mills, Reuters reported. Unicem, which is based at Mfamosing, close to Calabar, southeastern Nigeria. Unicem is building a 2.5Mta line which will br... |
Nigeria: BUA Cement signs US$600m expansion deal with Sinoma07 September 2015, Published under Cement NewsBUA Group has signed US$600m worth of contracts with China's Sinoma International Engineering Co to double capacity at its Obu cement plant. The plant currently produces 3.5Mta, but by the end of 2017 capacity will rise to 7Mta. BUA's executive chairman, Abdulsamad Rabiu, said at the signing ceremony, “BUA has less than 10 per cent of market share now, after expansion we should go to about 20 per cent.” The Nigerian cement market is currently controlled by Dangote Cement, which has a 70... |
Lafarge Africa to supply Nigerian electricity grid13 July 2015, Published under Cement NewsLafarge Africa said on Friday it had applied to Nigeria's energy regulator for a licence to generate 260MW of electricity to supply to the country's grid. Nigerian Electricity Regulatory Commission (NERC) is licensing 'embedded power companies' to try to end electricity shortages. Embedded power companies are not primarily power generating groups, but those which generate extra power from their operations and can then sell the surplus to the grid or distribution companies. Dangote is als... |
Lafarge Africa partners PINE to rebuild North East Nigeria23 June 2015, Published under Cement NewsLafarge Africa Plc has launched a partnership with the Presidential Initiative for the North East (PINE) on the rehabilitation and rebuilding of the region’s economy following the Boko Haram insurgency, pledging to invest NGN100bn (US$502.5m) for the expansion of its business in the region. He said the company had decided to partner with the Federal Government in rebuilding the ravaged North Eastern region as part of the company’s committment to rebuilding the region, saying: Guillaume... |
Lafarge Africa 1Q revenue rises 15% YoY07 May 2015, Published under Cement NewsLafarge Africa Plc reported revenue of NGN57bn (US$286.36m) in the first quarter of this year, 15 per cent higher than the corresponding period of 2014. Profit after tax was NGN8.6bn and NGN14.6bn of cash was generated from operations. In his statement, the Chairman, Board of Directors, Chief Olusegun Osunkeye CON, OFR, said: "our Company has delivered a good performance in spite of the general elections and market uncertainty. We remain highly committed to delivering a strong result i... |
Ashaka board recommends Lafarge buy-out offer to minority shareholders29 December 2014, Published under Cement NewsThe board of directors of Ashaka Cement has advised minority shareholders to accept the buy-out mandatory tender offer (MTO) by Lafarge Africa. Lafarge Africa has offered to buy out minority shareholders in Ashaka Cement following the merger of Lafarge's Nigerian and South Africa's businesses. Under the offer, Lafarge Africa is making an MTO to minority shareholders to buy 927 million shares, representing 41.39 per cent of the company. Shareholders who accept the offer will receive 57 ... |
Lafarge in Ashaka buy-out offer09 December 2014, Published under Cement NewsLafarge Africa has offered to buy out minority shareholders in Ashaka Cement Plc. The move follows the merger Lafarge Africa’s Nigerian and South Africa businesses, which received approval from shareholders in July. Lafarge Africa said on Monday that as part of the merger deal it had acquired a stake in Ashaka Cement of more than 30 per cent, the trigger point for making a full takeover bid under Nigeria's securities and takeover rules. Under the terms of the offer, shareholders who acc... |
Nigeria: Lafarge develops 6th cement research centre24 November 2014, Published under Cement NewsNigeria will soon be joining France, China, Brazil, India and Algeria as host to Lafarge’s development laboratory, which is targeted at developing new solutions and business opportunities to consumers, disclosed Gilles Rochard, Lafarge's prospective research and development (R&D) director, during a media tour of the group’s facilities in Lyon, France. “There will be one in Nigeria,” Rochard said, while explaining the group’s plan to launch the state-of-the-art research facility in Africa’s ... |
Lafarge Africa appoints two directors04 November 2014, Published under Cement NewsLafarge Africa Plc has appointed Adepeju Adebajo and Anders Kristiansson to the board of the company, as disclosed in a statement issued by the company to the Nigerian bourse. Lafarge Africa said Mrs Adebajo is currently managing director of the WAPCO Operations, prior to which she served as CEO and MD at Mouka Ltd. ‘’She was already the CEO, UTC Nigeria Plc, where she successfully turned the business around,’’ the company said. It added that Adebajo previously headed strategic planning, br... |
Lafarge Africa 9M14 pretax profit drops 41.2%30 October 2014, Published under Cement NewsLafarge Africa said its pretax profit for the first nine months of this year dropped by 41.2 per cent YoY to NGN38.08bn (US$231m). Revenue, however, rose to NGN159.39bn from NGN154.78bn previously, the company said in a filing with the Nigerian stock exchange. |