Cement News tagged under: Nigeria
Dangote: Nigeria’s currency woes will not alter expansion plans22 April 2016, Published under Cement NewsDangote Cement’s annual general meeting, held in Lagos, has seen Aliko Dangote set out his plans to grow the business despite worsening economic conditions, particularly in the company’s Nigerian base. According to reports in This Day, Mr Dangote claimed that foreign exchange volatility – a reference to the Nigerian government’s resistance to calls to devalue the naira – would have no significant impact on the company and its expansionary strategy. Addressing the AGM, Mr Dangote said: ... |
Nigeria: Lafarge Africa sees FY15 growth of 2.5%20 April 2016, Published under Cement NewsLafarge Africa recently released its FY15 financial results, which showed a 2.5 per cent YoY growth in revenue and a 20 per cent decline in profit after tax, PAT, over the same period in 2014, reports All Africa. The company managed to grow its top-line amid the challenging market and economic headwinds it faced during the year, largely driven by the growth in its ready-mix sales and its southwest operations in Nigeria. Its ready-mix operations in Nigeria continued to show great strength wi... |
Nigeria: Dangote signs US$2bn Chinese bank loans for two cement plants13 April 2016, Published under Cement NewsDangote Group has signed a deal on Tuesday for a US$2bn loan from the Industrial Commercial Bank of China Ltd for two cement plants, according to Reuters. “The interest rate is okay, quite favourable with me,” Dangote said, without elaborating. “It’s for my two cement companies that we are establishing in Nigeria.” The deal included China Export & Credit Insurance Corporation. |
Nigeria: Work commences on Dangote’s Okpella plant11 April 2016, Published under Cement NewsA groundbreaking ceremony for the construction of a new cement plant has been held as part of celebrations to mark Aliko Dangote’s 59 th birthday. The News Agency of Nigeria reports that the new plant, in Okpella in southern Nigeria, is projected to cost US$1bn and will have a capacity of 6Mta. In its 2015 annual report Dangote Cement said that the new plant would be half this size, with a still-considerable capacity of 3Mta. The increased capacity plans at Opkella reflect Dangote’s c... |
Nigeria: cement standards may need revision06 April 2016, Published under Cement NewsNigeria's government is expected to revisit the review of cement standards to address restrictions placed on the use of certain classes of the commodity. Nigeria has witnessed at rise in building collapses around the country in recent months. The local Guardian newspaper learnt that stakeholders are awaiting the composition of the board of the governing council of the Standards Organisation of Nigeria (SON) by the government to drive the review agenda. The Federal Ministry of Industry, T... |
Dangote Cement29 March 2016, Published under Cement NewsDangote Cement has reported a 14 per cent rise in profit in 2015, up from NGN159.5bn (US$801m) in 2014 to NGN181.32bn (US$910m), driven by new plants and price reductions. The last two years have seen the company open six new facilities across Africa, all of which have performed well, increasing sales volumes by 35 per cent as well as gaining valuable market share. September 2015 saw Dangote implement a price cut in its home market of Nigeria to boost consumption and compete with imports... |
Dangote Cement full-year boosted by new African plants02 March 2016, Published under Cement NewsDangote Cement posted a 25.6 per cent rise in 2015 revenues to NGN491.7bn (US$2.47bn) as new plants performed strongly across Africa, the company reported yesterday. New production facilities opened by the group in Senegal, Cameroon, Ethiopia and Zambia made their first contributions to the business in 2015 and as a result, volumes rose by 35 per cent to 18.9Mt. “New factories performed very successfully across Africa, gaining significant market share against long-established incumbents,” ... |
Estanda supplies LafargeHolcim plant in Nigeria01 December 2015, Published under Cement NewsEstanda has supplied a LafargeHolcim cement plant in Nigeria with new designs for more efficient dip tubes, the Spanish equipment supplier said in a statement. The project, which was for the supply of the dip tubes and supervision during their assembly, included an initial stage of total component redesign and modifying dimensions and materials used by the client to adapt to the technical recommendations provided by Estanda. The proposed solution will prevent wear and low-durability issue... |
Dangote Cement28 October 2015, Published under Cement NewsDangote has announced an increase in sales of 18 per cent to NGN366bn in 9M15, compared to the same period last year. Net income grew over the period from NGN141bn to NGN158bn, while profit before tax expanded by 8.4 per cent to NGN166.9bn, up from NGN154bn in 9M14. Earlier this month Dangote Industries announced plans to build 18 new cement plants across Africa and Asia. According to the company, the move hopes to transform Africa into an export continent rather than depending on imports... |
Dangote Cement 9M15: new operations help offset weaker domestic demand27 October 2015, Published under Cement NewsDangote Cement said nine-month profit gained 12 per cent as its new operations across the African continent helped offset weaker demand in its home market of Nigeria. Net income was NGN158bn (US$794m) in the nine months through September, compared with NGN141bn a year earlier, the company said in a statement on Monday. Sales rose 18 per cent to NGN366bn. Lower oil prices and a weaker currency were among factors weighing on the Nigerian business, where sales declined 0.7 per cent. “Our n... |