Cement News tagged under: BUA Cement
BUA Cement records 13% revenue increase in 1H2004 August 2020, Published under Cement NewsNigeria’s BUA Cement has announced a 12.7 per cent YoY increase in revenue to NGN101.3bn (US$261.07m) in the first half of 2020, with profit after tax also advancing 13.7 per cent YoY to NGN34.82bn. The company’s EBITDA margin also improved to 48.1 per cent in the 2Q20, compared to 45.6 per cent in the first quarter. "Despite the prevailing economic conditions, we are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business mode... |
BUA Cement plans new 3Mta plant in Adamawa06 July 2020, Published under Cement NewsNigeria’s BUA Cement has announced that it is planning to establish a 3Mta cement facility and 50MW power plant in the Guyuk and Lamurde areas of Adamawa state. While visiting the state governor, Abdul Samad Rabiu, chairman of BUA Cement, reportedly referenced preliminary findings which show that the two areas have good quality limestone deposits and said the company is ready to begin investment in the state. Mr Rabiu noted that the Guyuk plant would be a major investment into the northea... |
Final acceptance certificate issued for Edo Cement second line09 June 2020, Published under Cement NewsOn 4 June, the final acceptance certificate (FAC) was issued from BUA Group to the EPC Contractor CBMI Construction, the core member of Sinoma International, for EDO Cement's second 6000tpd new lin, in Nigeria. The new plant has been under our operation and maintenance since June 2019 with a reliable and high running rate, much to the satisfaction of the client, said CBMI Construction. CBMI is awarded the final acceptance certificate for BUA Cement's second kiln line at the Edo ... |
BUA Cement posts 25.1% rise in revenue08 June 2020, Published under Cement NewsBUA Cement has announced a 25.1 per cent YoY increase in revenue to NGN54bn (US$139.3m) in its financial results for the 1Q20. Profit before tax increased by 15.7 per cent YoY from NGN17.4bn to NGN20.1bn in the 1Q20, while profit after tax reached NGN19.8bn – a 26.2 per cent YoY increase from NGN15.7bn. Discussing the results, Yusuf Binji, Managing Director/CEO of BUA Cement, said the excellent performance in the 1Q financial results amid the outbreak of the COVID-19 pandemic is yet anothe... |
BUA Cement reports 48% rise in revenue in 201921 May 2020, Published under Cement NewsNigeria’s BUA Cement has reported a 47.5 per cent rise in revenue to NGN175.52bn (US$452.35m) for 2019, compared to NGN119.01bn in the previous year. EBITDA also surged 47.2 per cent YoY to NGN81.99bn from NGN55.7bn, while its EBITDA margin remained flat at 47 per cent. However, profit after tax was down 5.4 per cent YoY to NGN60.61bn in 2019, attributed to an NGN26.76bn tax credit given in 2018. "Going forward, our focus is to further harness the full benefits of the merger while making ... |
BUA provides funds for COVID-19 relief in Nigeria31 March 2020, Published under Cement NewsNigeria’s BUA has fulfilled a pledge by transferring NGN1bn (US$2.6m) of funds to the COVID-19 relief account with the Central Bank of Nigeria. In addition, the group also announced another donation of NGN300m to Sokoto, Edo and Ogun states to further assist an adequate COVID-19 response. These additional donations will be made on behalf of its BUA Cement subsidiary which has major production operations in these states, whilst Ogun was also selected as a beneficiary due to its proximity t... |
BUA Cement formally lists on Nigerian Stock Exchange10 January 2020, Published under Cement NewsNigeria’s BUA Cement has been formally listed on the country’s stock exchange with a market capitalisation of over NGN1.2trn (US$3.32bn). The listing brings a conclusion to the merger process between the BUA-owned entities, Cement Company of Northern Nigeria (CCNN) and Obu Cement Co. The listing has seen BUA Cement become the third-most capitalised stock on the Nigerian Stock Exchange. "We are coming into the market at the beginning of the year and since trading has commenced, we expect t... |
Unitherm-Cemcon commissions rotary burner order19 February 2019, Published under Cement NewsUnitherm Cemcon successfully commissioned the firing system for a new 6000tpd plant in Nigeria (Edo State) in December 2018. The greenfield plant of BUA Cement group was supplied by CBMI Construction Co Ltd. Unitherm's scope of supply included: • one rotary kiln burner MAS/6/KO.EG.SO (fuels: coal, natural gas, heavy fuel oil) with a nominal capacity of 113MW including accessories like burner trolley, ignition burner and flame monitoring • four UNICAL-KO-EG-SO-4000 calciner burners (fuels:... |
New 3Mta line planned for BUA's Kalambaina Cement07 January 2019, Published under Cement NewsNigeria’s BUA Group has signed another contract with CBMI for the construction of a new 3Mta line at Kalambaina Cement in Sokoto State. The announcement comes soon after a merger between Kalambaina Cement and the Cement Company of Northern Nigeria (CCNN) was given approval last month. Furthermore, the project arrives on the back of the completion of BUA’s 3Mta Obu Cement Line 2 around 90 days ago and the commissioning of its 1.5Mta first line at Kalambaina Cement just seven months ago. A... |
BUA Cement announces completion Okpella plant09 November 2018, Published under Cement NewsBUA Cement has announced the completion of its new 3Mta cement plant in Okpella, Edo state, Nigeria. Its output is expected to be delivered to the southern and southeastern Nigerian markets, enabling the company to gain a stronger foothold in these areas. The Okpella facility will be able to be fuelled with gas and heavy oils. The company is expected to announce a date for the formal inauguration of the works, of which the completion comes less than six months after the inauguration of ... |