Cement News tagged under: Zimbabwe
Zimbabwe: firms face closure13 May 2016, Published under Cement NewsDue to an influx of cheap imported products in Zimbabwe, local cement producers have warned of a possible scaling down of operations and closures, saying protectionist measures are needed to save the industry. In a recent position paper presented to the Ministry of Industry and Commerce by the Cement and Concrete Institute of Zimbabwe, local cement manufacturers have called for the government to ban imported cement, among other interventions, saying the market is oversupplied. Some measu... |
Zimbabwe: Lafarge Cement records 2015 loss22 April 2016, Published under Cement NewsLafarge Cement Zimbabwe has said that expects to see a return to profitability in 2016 after recording a loss of US$1.9m in 2015. Announcing its results for the year, Lafarge blamed the economic conditions in the country, including the liquidity crunch and the poor agricultural season. This Day quotes a company spokesperson as saying "We expect the general trading environment to exert sustained pressure on prices due to the ongoing economic stress. However, we anticipate improved profi... |
Zimbabwe: PPC's Harare plant is half-way complete15 April 2016, Published under Cement NewsThe construction of a new cement plant by Pretoria Portland Cement (PPC) in Harare is progressing as planned and is now 55 per cent complete. The plant is expected to produce 70.7Mta of cement when fully commissioned. This is in line with the South African parent company's strategy of growing its non-South African revenue from the current 21 per cent to at least 40 per cent before the end of this year. Sources at PPC told the Financial Gazette this week that the plant would be operatio... |
PPC’s Harare plant on course for 2016 commissioning24 March 2016, Published under Cement NewsZimbabwe’s deputy minister for industry and commerce, Chiratidzo Mabuwa, has welcomed PPC’s commitment to investing in the country as the company confirms that it expects its second mill, a 0.7Mta unit in Harare, to be commissioned in late 2016. According to reports in News Day, Ms Mabuwa told delegates at the Zimbabwe-South Africa Investment and Trade Initiative meeting in Bulawayo last week that PPC’s presence was a sign that the country was open for foreign investment. “The company ... |
Zimbabwe: Filabusi cement plant in planning stages17 March 2016, Published under Cement NewsLocal entrepreneurs plan to establish a cement manufacturing company in Filabusi, Insiza district, with a cement capacity of 0.5Mta, according to the Zimbabwe Chronicle. Philani Mpofu, who runs an engineering and construction firm based in Bulawayo, said major preliminary works have been carried out on the limestone resources. “We started working on this project in 2014 and have covered a lot of groundwork. Because this is a massive project we’ve engaged Danish Cement Consultants to assis... |
PPC eyes longer-term growth outside of Africa16 March 2016, Published under Cement NewsPPC has unveiled a new expansion strategy that envisages doubling the business every 10 years and growing beyond its traditional markets in Africa. In an investor presentation posted on PPC's website ahead of this week’s Merrill Lynch conference in Sun City, the company set out its ambitions for the future even as it warned of falling cement sales in the first months of FY16. In the presentation, PPC states that it is on course to raise capacity to 12.7Mta by 2018 (a 47.7 per cent inc... |
Dangote Cement26 January 2016, Published under Cement NewsDangote Cement has reaffirmed its commitment to invest in a new cement works in Zimbabwe. Work on the planned 1.5Mta integrated plant will reportedly begin this year at a cost of around US$400m. This follows the formation of Dangote Cement Zimbabwe in September last year. The precise location of the plant is yet to be confirmed. Concerns were raised late last year when Zimbabwe was left off a list of countries the company was intending to invest in during an interview with Reuters. This l... |
PPC01 December 2015, Published under Cement NewsIn its results for the year ended 30 September 2015, PPC has reported a “significantly improved second half financial and operational performance”. Revenue has advanced by two per cent to ZAR9227m (US$642.6m) while EBITDA has grown by 0.2 per cent to ZAR2362m. Following a 45 per cent decline in 1H15, net profit then improved by 23 per cent in the second half, ending the year down by 17 per cent at ZAR698m. Cement sales over the period fell by two per cent while aggregates slipped by five per... |
Lafarge Zimbabwe reports half-year loss05 October 2015, Published under Cement NewsThe local Zimbabwe unit of LafargeHolcim reported an after tax loss of ZMD1.39m for the half year to June from a loss of ZWD1.32m in the prior comparable period, on weak demand as the country’s construction industry remains subdued. Lafarge Zimbabwe said volumes of cement sales were down seven per cent during the first half of the year, resulting in a decline in revenue to ZMD25.4m from ZMD28.2m. Operating loss widened to ZMD1.8m from ZMD1.7m incurred in 2014. “The construction industry r... |
Dangote Cement29 September 2015, Published under Cement NewsFollowing a recent visit to Zimbabwe by Aliko Dangote, head of the Dangote Group, the company has announced plans to open a 1.5Mta grinding plant in the country. The plans have reportedly been approved by the Zimbabwean government with construction on the US$400m plant rumoured to begin in 1Q16. The news comes as the company celebrated the inauguration of its 1.5Mta grinding plant in Douala, Cameroon, and announced plans to begin work on phase two of the plant, doubling its capacity. The ... |