Cement News tagged under: Mauritius
Kolos Cement posts MUR48.5m loss31 May 2023, Published under Cement NewsMauritius-based Kolos Cement reported losses of MUR48.5m (US$1.06m) in the January-March 2023 quarter. The company’s turnover increased 9.4 per cent to MUR522m when compared with MUR477m in the January-March 2022 quarter. Inflation, exchange rate volatility, and rising raw material and fuel costs impacted on the company’s profit margins. For example, fuel costs were up by 264 per cent YoY and packaging expenses by 80 per cent. “Our losses are attributed to increased costs locally and in... |
Cement price in Mauritius now set by authorities06 March 2023, Published under Cement NewsIn Mauritius a 25kg bag of cement will now cost between MUR158-175 (US$3.39-3.76), depending on the location on the island, following an amendment to the Consumer Protection Regulation (Control of Price of Taxable and Non-Taxable Goods) 1998 legislation. The act allows the Ministry of Commerce to determine the maximum selling price for cement to prevent any potential increase affecting consumers, according to Le Mauricien. In addition, the State Trading Corp is also considering ways to int... |
Savannah Cement sells 60% stake to Barak Asset Recovery12 January 2023, Published under Cement NewsMauritius-based Barak Asset Recovery has been given the green light by regulators to acquire a 60 per cent stake in Savannah Cement from Seruji Ltd . With one plant in Athi River , Nairobi, Savannah Cement began operations in 2012 and quickly gained a 15 per cent share of the Kenyan cement market. However, in recent years its market share slipped to 10 per cent with two lenders, banks KCB and Absa, seeking to liquidate the firm’s assets after Savannah defaulted on loan payments, repor... |
Kolos Cement launches 'Retourn to Plastik' campaign23 May 2022, Published under Cement NewsKolos Cement in Mauritius has launched its 'Retourn to Plastik' campaign in the presence of officers from the Ministry of Environment, Solid Waste Management and Climate Change. Kolos has launched the palletless system, a first in the Indian Ocean region in terms of packaging technology that will rethink its modes of operations and measure the impact of the company’s actions for sustainable change. FLSmidth supported Kolos in the implementation and deployment of this innovat... |
Kolos Cement sees 39% rise in turnover in 202107 April 2022, Published under Cement NewsMauritius-based Kolos Cement Ltd reported a turnover of MUR1.8bn (US$40.2m) in 2021, up 38.5 per cent from MUR1.3bn in 2020. However the company’s operating profit reached MUR161.5m, down 18.6 per cent from MUR198.4m in the previous year. In addition to the nationwide six-week lockdown due to the COVID-19 pandemic in 2021, the company also faced further challenges to the increased raw material costs as the rupee weakened and the cost of freight went up. The company expects 2022 to be equ... |
Lafarge Mauritius and Kolos reduce cement price30 September 2021, Published under Cement NewsAfter Mauritius-based cement importer Kolos Cement Ltd dropped its retail price for Eco Plus cement from MUR143.84/bag (US$3.37/bag) to MUR135.84, Lafarge Mauritius has announced a decrease in the retail price of two of its products from 1 October 2021. Baobab 6, a 22.5-grade cement, will see its retail price reduced from MUR142.40 to MUR134.60 while Baobab Mazik, a 32.5-grade cement, will be sold at MUR139.80, down from MUR147.90. “This decision was taken after the company and the Commer... |
Kolos sees 17% profit drop in 202006 April 2021, Published under Cement NewsMauritius-based Kolos saw its profits fall by 17.4 per cent to MUR145m (US$3.57) from MUR175.6m in 2019. The company’s income declined from MUR1.4bn to MUR1.3bn. The drop in profit and income was the result of the lockdown due to the COVID-19 pandemic as well as the rising cost of raw materials as the rupee weakened. However, the company stated that “despite the difficult operating environment, the company showed tremendous resilience and demonstrated its ability to ensure continuous sup... |
Lafarge (Mauritius) raises price of Baobab cement04 October 2018, Published under Cement NewsThe price of a 25kg bag of Baobab cement increased by MUR1-4 (US¢2.9-11.6) on 1 October 2018. Lafarge (Mauritius), which produces the cement, has reviewed the price of its Baobab range as a result of “increasing international raw material prices since the start of the year.” Bagged Baobab CEM II 42.5 now costs MUR115, up from MUR114, while Baobab Lakaz CEM II 32.5 cement is sold at MUR110/25kg bag, representing a 3.8 per cent increase from MUR106 before the price rise. However, Baobab 6 MC ... |
Kolos Cement released from competition requirements17 September 2018, Published under Cement NewsMauritius-based Gamma Civic Ltd has been released from its commitment set by the Competition Commission of Mauritius (CCM) to have its subsidiary Kolos Cement Ltd, previously known as Holcim (Mauritius), resort to a bidding exercise to buy cement. The company currently operates the largest terminal on the Indian Ocean at 60,000t. Gamma Civic acquired 51 per cent of the company in 2015, and was subsequently required to address any competition issues. The company agreed it would buy cement th... |
Mauritius opens LafargeHolcim merger inquiry06 August 2014, Published under Cement NewsThe Competition Commission of Mauritius (CCM) has opened an inquiry to determine whether the merger of Holcim and Lafarge will have a negative impact on the competition in the island's cement market. If the merger is completed successfully, Lafarge and Holcim have said they will both sell their holdings in Holcim (Mauritius) Ltd to a third party. "We appreciate that the merger parties have informed the CCM of their actions and are reactive with respect to measures that restore competiti... |