Cement News tagged under: Nigeria
Lafarge Africa Plc profit slips 6.5%27 October 2015, Published under Cement NewsLafarge Africa Plc has reported a profit after tax of NGN29bn (US$145.7m) for the nine months ended 31 September 2015, compared with NGN31bn recorded in the corresponding of 2014. The company said Nigerian unit Ashaka Cement's numbers were affected by the unrest during the start of the year, explaining that Ashaka has since returned to normal operations. It added that industrial performance was strong, with stable plant operations across the board. The South African business continues to b... |
Sinoma International Engineering's new Nigerian contract22 October 2015, Published under Cement NewsSinoma International Engineering Co Ltd has recently entered into an engineering, procurement and construction contract for a 6000tpd clinker cement production line and a power plant with Ibeto Cement Co Ltd in Nigeria, worth US$386m. This project is located in Enugu area of Nigeria. The contract covers the whole process from exploitation of limestone mines and crushing of raw materials to packing and delivery of cement, together with a 45MW self-generation power plant, including engineerin... |
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... |
Dangote Cement appoints two regional CEOs01 October 2015, Published under Cement NewsDangote Cement has appointed two new Regional Chief Executive Officers (RCEOs) to lead its Nigeria and West and Central Africa divisions. Arvind Pathak has been named the new RCEO of Nigeria while Vivek Chawla is the new RCEO for West and Central Africa. Mr Chawla has over 30 years of experience in the cement industry working across functions including management, operations, sales & marketing, projects and commercial. Prior to his appointment at Dangote Cement Plc which became effective ... |
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... |
Nigeria: Dangote Cement reduces prices by NGN6000/t04 September 2015, Published under Cement NewsDangote Cement announced that it will lower the price of its 3X cement by NGN300/50kg bag or NGN6000/t. Onne van der Weijde, Dangote’s director general, has indicated that the company’s cost reduction strategy has started to bear fruit, enabling Dangote to achieve attractive margins and reduce the prices. Mr Van der Weijde added: "We hope this new pricing strategy will support the naira, by reducing unnecessary imports and by creating currency value through the income to be generated from... |
Dangote Cement24 August 2015, Published under Cement NewsDangote Cement reported a 15.9 per cent YoY increase in first-half 2015 revenue, as production at its non-Nigerian factories ramps up. Net profit over the period grew by 27.6 per cent to NGN121.8bn (US$614m) while EBITDA expanded by 14 per cent to NGN147.5bn. Group cement sales volumes were up by 13.7 per cent to 8.1Mt with strong market share gains being noted in South Africa and Senegal. The Nigerian market accounted for NGN207.8bn of revenue with cement sales dropping by 7.5 per cent to... |
Nigeria: CCNN full-year profit rises 23.1%18 August 2015, Published under Cement NewsThe Cement Company of Northern Nigeria (CCNN), part of BUA Group, has declared a post-tax profit of US$9.64m for the 2014 financial year, increasing by 23.1 per cent YoY. CCNN chairman, Abdulsamad Rabiu, said that despite lower cement sales recorded in the last quarter of 2014 mainly due to pockets of unrest in CCNN's business markets, the company's focus on efficiency and strategic investments resulted in steady growth during the period. CCNN's production and operational expenses de... |
Dangote Cement 1H profit up 28%03 August 2015, Published under Cement NewsDangote Cement said first-half profit rose 28 per cent as its pan-African expansion helps make up for “uncertainties” in its domestic market of Nigeria. Net income was NGN121.8bn (US$614m) in the six months through June, compared with NGN95.4bn in the same period a year earlier. Sales rose 16 per cent to NGN242bn. Group cement sales volumes were up 13.7 per cent YoY to 8.1Mt. Domestic cement sales in Nigeria fell 7.5 per cent to 6.3Mt. Nigeria margins were protected by new pricing, improve... |
Nigeria: BUA's 3Mta Obu plant to start operations30 July 2015, Published under Cement NewsBUA Group is about to release cement from its newly-built US$600m Obu plant in Okpella, Edo State, with clinker production already operational. Cement should be dispatch from the 3Mta facility in the first week of August. The plant was supplied by FLSmidth and the civil construction was handled by construction firm, Julius Berger. BUA Group chairman/CEO, Abdulsamad Rabiu, said the company's three-year journey in constructing the world-class plant would give a much needed boost to Nigeria's ... |