Cement News tagged under: Nigeria
Dangote Cement to reduce capex next year07 November 2014, Published under Cement NewsDangote Cement expects to slow its capital spending next year to around US$700m, as it completes most of its African expansion projects, its chief executive told Reuters on Wednesday. Edwin Devakumar said Africa's biggest cement operation budgeted to spend around US$1.4bn this year, as it ramps up its cement works from Senegal to Zambia. "This year we may end up with a capex of close to US$1.4bn though we expect it to come down next year to around US$700m," Mr Devakumar told the news agenc... |
Dangote Cement nine-month pretax profit up 1.5%04 November 2014, Published under Cement NewsDangote Cement said on Monday its pretax profit for the nine months to September rose 1.5 per cent to NGN154.05bn (US$930.7m), compared with NGN151.72bn in the same period of last year. Revenue for the nine month period was NGN310.21bn versus NGN288.98bn in 9M13, the company said in a filing with the Nigerian Stock Exchange. Price cuts The company has recently slashed prices in the country, reportedly to its lowest level since 2005. The company's 32.5 cement grade now selling at NGN1000... |
Lafarge03 November 2014, Published under Cement NewsLafarge WAPCO Cement Nigeria, one of Lafarge's two main subsidiaries in Nigeria, has reported a 6.3 per cent increase in turnover to NGN74.27bn (US$492m) for the first nine months of 2013, giving rise to a pretax profit of NGN20.66bn. In the third quarter, the pretax profit jumped by some 65 per cent, though turnover was just five per cent ahead, as the three-week maintenance period that was taken in the comparative period last year and led to the import of clinker, did not re-occur this ti... |
Ashaka Cement appoints new CFO, Nigeria03 November 2014, Published under Cement NewsAshaka Cement Plc announced Bruno Bayet as new Chief Finance Officer (CFO) of the company. In a statement to the Nigerian Stock Exchange (NSE), the Nigeria-based cement producer said Mr Bayet was appointed following the resignation of Yusuf Lamuwa. The position is effective as of 1 September 2014. |
Exports loom: Dangote has 29Mta of production in sight24 October 2014, Published under Cement NewsAlhaji Aliko Dangote, president of Dangote Group of Companies, said the company's cement production will hit 29Mt in Nigeria by December this year, while exports will be the next step. Speaking at the Obajana cement plant yesterday, the Dangote president said the 29Mt will be possible after the commencement of operations of the fourth phase of the Obajana cement plant. Mr Johnson Olaniyi, Dangote's regional sales director, said the company will soon start exporting the product to other ... |
Lafarge03 October 2014, Published under Cement NewsLafarge has agreed the sale of its wholly-owned Russian subsidiary Uralcement to Buzzi Unicem for EUR104m and the proceeds will be used to reduce Lafarge's net debt. In May, Lafarge commissioned its Ferzikovo works in Russia, which is better placed for serving the more vibrant Moscow market. Lafarge is selling its 47 per cent stake in its Mexican associate Cementos Fortaleza to the majority shareholder Elementia less than two years after the jointly-owned company was formed. The industria... |
Nigeria: Benue State to sell remaining Dangote Cement plc stake30 September 2014, Published under Cement NewsNigeria’s Benue Investment and Property Co Ltd is expected to sell the remaining Dangote Cement plc shares held in trust for the state’s inhabitants on the Nigerian Stock Exchange for a target value of NGN20bn (US$122m), according to sources quoted in This Day Live. The previous sale of the shares erased about 30m shares valued at over NGN7bn of the original 90m shares, which Benue State held in Dangote Cement following the 2010 merger of the defunct Benue Cement Co Plc with other Dangote... |
Nigeria’s SON starts cement standards enforcement30 September 2014, Published under Cement NewsConcerned by the high rate of building collapse across Nigeria in recent times, the Standards Organisation of Nigeria (SON) held a zonal stakeholders' forum on blocks and allied products in southwestern states to begin implementation of the cement standardisation and reclassification scheme. This follows a directive of the Federal Ministry of Industry Trade and Investment (FMITI) to immediately commence the full enforcement of the policy across all segments of the cement and allied products... |
SON begins implementation of cement standardisation25 September 2014, Published under Cement NewsThe Standards Organisation of Nigeria (SON) has begun the implementation of its new cement standardisation and reclassification scheme. During a zonal stakeholders’ forum on blocks and allied products in the southwest, hosted by the SON in Lagos on Tuesday, the organisation launched a new packaging and labelling model for cement grades 32.5, 42.5 and 52.5. The packaging for the three different classes of cement will be clearly labelled and colour coded (yellow for the 32.5, blue for th... |
Lafarge Africa completes consolidation process17 September 2014, Published under Cement NewsLafarge Africa Plc, formerly Lafarge Cement Wapco Nigeria Plc, has announced the completion of its acquisition of the Lafarge group’s shareholdings in Lafarge South Africa Holdings and United Cement Co of Nigeria. Guillaume Roux, Lafarge Africa Group Chief Executive Officer, told reporters in Lagos yesterday that the company had received all shareholder and regulator approvals and met all the necessary requirements to form the merged company comprising Lafarge’s South Africa and Nigerian in... |