Cement News tagged under: Nigeria
Lafarge increases stake in Unicem09 March 2015, Published under Cement NewsLafarge Africa Plc has notified the Nigerian Stock Exchange that Nigerian Cement Holdings BV (NCH), a 50 per cent affiliate of Lafarge Africa, has completed the acquisition of a 15 per cent stake in Unicem from FMN Cement Industries Limited, a wholly owned subsidiary of Flour Mills of Nigeria Plc . NCH had a 70 per cent share interest in Unicem and following the acquisition, has now increased its stake to 85 per cent. A further 15 per cent tranche is expected to be acquired by NCH on or... |
Dangote Cement03 February 2015, Published under Cement NewsNigeria’s construction industry is urging Dangote Cement to put into effect the promised cement price cuts, as announced in November last year. Despite the company revealing plans to reduce cement prices by as much as 41 per cent to NGN1350/bag, ex-works prices have now leapt to around NGN2200/bag. The new VAT-exclusive prices will see distributors pay NGN1645-1655/bag for ex-works orders and NGN1745 for orders delivered from the company’s Ibese plant. Ex-works prices from Ibolo hovered arou... |
Dangote Cement appoints new CEO26 January 2015, Published under Cement NewsDangote Cement Plc has appointed Onne van der Weijde as chief executive officer, effective 1 February 2015. Mr Van der Weijde, ex-Holcim India head, will take the helm from Dangote Cement's outgoing CEO Devakumar Edwin. Mr Edwin told Reuters in an interview that the transition comes at a time when some of the large capital expenditure projects of Dangote Industries Ltd, which he handles, have started to materialise. |
Lafarge06 January 2015, Published under Cement NewsLafarge Africa is offering to buy out the 41.39 per cent minority in Ashaka Cement. Lafarge Africa is obliged to make the offer as it has become the new majority shareholder in Ashaka Cement following the September merger of Lafarge Cement WAPCO Nigeria and Lafarge Industries South Africa. The offer is 57 Lafarge Africa shares for every 202 shares held plus NGN2 in cash and has been recommended by the board of Ashaka Cement. Separately, Lafarge Africa has agreed to purchase Flour Mills of... |
Nigeria: Benue prices increase as Gboko stops production30 December 2014, Published under Cement NewsOperations at Dangote Cement's Gboko plant have been temporarily grounded leading to an increase in cement prices in the Nigerian state of Benue, according to local press. The Daily Times (Nigeria) reported on Saturday that commercial operations at the cement plant have been suspended over the last fortnight. The stoppage has led to prices in Benue state almost doubling from NGN1400 (US$7.67) to NGN2500 due to US$13.7, the report added. The shutdown is being attributed to two main fact... |
Dangote reverses price cut18 December 2014, Published under Cement NewsJust over a month after initiating a dramatic price cut, Dangote Cement has raised prices again in Nigeria. The price of 42.5 grade cement has reportedly increased from NGN1150 (US$6.10) to NGN1567 (US$8.37, excluding VAT). This translates to a 35 per cent rise and taking the price higher than the level before the November cut. Analysts at Morgan Stanley comment that the original decision to drop prices appears to have been prompted by a build-up of stocks that Dangote was unable to se... |
UNICEM orders Loesche mill for new Calabar line, Nigeria05 December 2014, Published under Cement NewsUnited Cement Company of Nigeria (UNICEM) has ordered the largest Loesche mill to-date, an LM 70.4+4 for its new line at the Calabar cement works. The Loesche LM 70.4+4 will be used at Unicem’s new Calabar line in Nigeria with an output of 370tph at 4700 Blaine. The delivery period is 14 months. The 4+4 concept follows Loesche mill types with 2+2 and 3+3 rollers. The 4+4 grinding concept is intended to allow high throughput capacity or it can run in 2+2 roller operation, generating a m... |
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 ... |
Ashaka nine-month net profit up 3% YoY17 November 2014, Published under Cement NewsAshaka Cement Plc nine-month results for the period ended 30 September 2014 showed revenue growth of three per cent YoY to NGN17.3bn (US$100.9m) profit after tax rose 103 per cent YoY to NGN4.3bn. Nine months results for the period ended 30 September, 2014 showed revenue growth of three per cent YoY to NGN17.3bn profit after tax rose 103 per cent YoY to NGN4.3bn. On a quarterly basis, profit after tax was down 47 per cent QoQ to NGN847m due to a sharp fall in other income from NGN243m i... |
Lafarge to acquire complete control of Unicem11 November 2014, Published under Cement NewsLafarge Nigerian Cement Holdings said on Monday it had entered into an agreement with Flour Mills of Nigeria to purchase a 30 per cent stake in United Cement Company of Nigeria Ltd (Unicem). The deal will give Lafarge's Nigerian Cement Holdings complete control of the country's third-largest cement manufacturer, Reuters reported. "Pursuant to the agreement, a first 15 per cent tranche would be acquired in the first quarter of 2015, while the second 15 per cent tranche is scheduled to be ac... |