Cement News tagged under: Lafarge Cement Zimbabwe
ZSE halts all share trading in Lafarge Cement Zimbabwe23 December 2022, Published under Cement NewsThe Zimbabwe Stock Exchange Ltd (ZSE) has implemented a securities halt in the trading of shares in Lafarge Cement Zimbabwe Ltd . The halt is effective from 23 December 2022 until further notice. According to ZSE, “Following the execution of a sale and purchase agreement between Associated International Cement Limited and Fossil Mines (Pvt) Ltd for a 76.45 per cent shareholding in Lafarge, there have been material developments in the sphere of activity of Lafarge. The full impact of t... |
Lafarge Cement Zimbabwe appoints new Acting CEO13 December 2022, Published under Cement NewsLafarge Cement Zimbabwe Ltd has appointed Innocent Zulu Chikwata as Acting Chief Executive, effective from 1 December 2022. Mr Chikwata has 16 years experience in the fast-moving consumer goods and construction materials industries and has worked for Colcom, Innscor Africa Group and LafargeHolcim. He has held various positions in sales, marketing and operations with PProfit & Loss oversight and has worked with start-ups and global branding organisations. Having joined Lafarge in Novemb... |
Lafarge Cement Zimbabwe expects to double cement production volumes in 202301 November 2022, Published under Cement NewsLafarge Cement Zimbabwe is planning to double its cement production volumes in 2023 following the expected 4Q22 startup of its new vertical roller mill. “The commissioning process of the VCM [vertical cement mill] started in the 2Q22. The company will essentially double its cement production capacity and improve raw material availability to the new dry mortar plant,” said Chairman Kumbirai Katsande. “The new VCM is anticipated to be fully operational by the 4Q22,” added Mr Katsande. ... |
Lafarge Cement Zimbabwe to increase exports24 June 2022, Published under Cement NewsLafarge Cement Zimbabwe made its first exports to Malawi and is expecting to build on the shipment to increase exports from Zimbabwe. “Because of our significant capacity, which is first of all oversized for the domestic market, growing demand in the region for this type of products, we are looking at, especially, (export) markets like Zambia and Malawi,” said CEO Geoffrey Ndugwa. “We just made our first exports to Malawi a few weeks ago, so we are feeling pretty good about the trend,” h... |
Plant disruption drives Lafarge Zimbabwe to a loss02 May 2022, Published under Cement NewsLafarge Cement Zimbabwe recorded a US$695m loss in 2021, compared to a US$5bn profit in the same period a year earlier. The fall is reportedly due to the negative impact of disruptions from the roof collapse at one of its cement mills and the adverse effect of the COVID-19 pandemic. This led to a 21 per cent decline in 2021’s volume uptake and a subsequent loss before tax of US$364m, versus a US$3.2bn profit in the previous year. The collapse of the mill plant halted operations between Oc... |
Roof collapse at Lafarge Zimbabwe may impact performance28 October 2021, Published under Cement NewsLafarge Cement Zimbabwe has announced that a roof collapse at one of its cement mills is expected to have a negative impact on the group’s overall business performance in the final quarter of 2021. "The necessary measures to restore the structures and restart the mills have commenced and are well under way," Faithful Sithole, the company’s secretary said in a statement following the incident earlier this month. Elsewhere, work on the installation of a new VRM at the facility is underway an... |
Lafarge Cement Zimbabwe's CEO steps down15 September 2021, Published under Cement NewsLafarge Cement Zimbabwe Ltd has announced the resignation of its CEO, Precious Murena, with effect from 9 September. Precious Murena joined the company in 2011 and became CEO in 2020. Amr Elmowafy Aly Mowafy, currently Chief Financial Officer, will assume the role of Acting Chief Executive Officer in the interim until the appointment of the substantive CEO. |
Lafarge Cement Zimbabwe diversifies product range15 January 2021, Published under Cement NewsLafarge Cement Zimbabwe (LafargeHolcim group) has completed crucial test runs on a multi-million-dollar dry mortar plant as it aims to turn into a multi-product operation. Lafarge has also entered the tile adhesives range and several allied products to complement the cement operation, which faces stiff competition from imports and stronger domestic peers. The firm has mostly relied on cement production at its decades-old operation in Harare. However, Lafarge said its dry mortar factory... |
Lafarge Zimbabwe records improvement in 3Q2018 November 2020, Published under Cement NewsLafarge Cement Zimbabwe has stated that the gradual easing of COVID-19 lockdown restrictions and a general improvement in the business environment has supported a rebound for the company in the third quarter of 2020. Sales volumes were seven per cent higher YoY in the 3Q20, driven by recovery in the individual home builder market. Record sales were also seen in July, which was the best result for the month since 2003. Demand for cement in the construction sector surged 34 per cent ahea... |
Lafarge Cement Zimbabwe to open dry mortar mix plant in 2H2002 October 2020, Published under Cement NewsLafarge Cement Zimbabwe is set to complete the installation of a US$2.2m dry mortar mix (DMX) plant during the second half of this year. The project is part of LafargeHolcim Group's US$25m recapitalisation of its Zimbabwean subsidiary, which was announced last year. "Currently, the DMX plant is being installed and is set to be completed in the 2H20, while the vertical cement mill supply contract was signed in August 2020," said the group's chairman, Kumbirai Kat. Lafarge has ... |