Cement News tagged under: East African Portland Cement Co
East African Portland Cement withdraws dismissing workforce notice12 August 2019, Published under Cement NewsKenya’s East African Portland Cement Co (EAPCC) has withdrawn the notice about the plan to dismiss its workforce of 800, saying it would make a further statement about restructuring the company. "(The) notice has been withdrawn," Acting Managing Director, Stephen Nthei said in a letter addressed to the Kenya Chemical Workers Union and seen by Reuters. "A fresh replacement notice on the intended company restructuring and staff rationalisation shall be circulated in due course," the letter s... |
East African Portland Cement to lay off all workers09 August 2019, Published under Cement NewsKenya-based East African Portland Cement Co (EAPCC) has announced plans to lay off its workers due to the company’s financial issues, according to Standard Digital. However, employees will be encouraged to apply for subsequently reconfigured positions. “The company is now faced with the need to restructure its operations, which will include a staff rationalisation programme to balance our running costs and current levels of productivity,” says EAPCC’s Acting Managing Director, Stephen Nthei... |
EAPCC appoints Stephen Kyalo Nthei as acting MD28 May 2019, Published under Cement NewsEast African Portland Cement Co (EAPCC) has appointed Stephen Kyalo Nthei as acting managing director with effect from 20 May 2019. Mr Nthei, a Certified Public Accountant, joined the company in April 2007 and has served in various roles, including as Head of Internal Audit and Head of Financial Management. He now faces the challenge of improving the performance of the cash-strapped cement producer. EAPCC has a KES10.8bn (US$106.7m) debt and posted a KES1.26bn loss for the half-year to D... |
East African Portland Cement lose Athi River land decision15 March 2019, Published under Cement NewsEast African Portland Cement (EAPC) has lost to a government decision on ownership of a plot of land in Athi River, Kenya. State-owned Kenya Railways plan to construct a container terminus on the land, despite EAPC and local residents, known as the Aimi Ma Lukenya Society, having also claimed to own the disputed land. Speaking at Kibini hill in Kajiado East last week, Trade Cabinet Secretary Peter Munya confirmed that there is a deal for the land to be sold to Kenya Railways. "We have ... |
EAPC sees 6M loss widen in 201801 March 2019, Published under Cement NewsKenyan cement producer East African Portland Cement reported a KES1.2bn (US$12m) loss for the half-year ending 31 December 2018, compared with a KES970m loss in the prior-year period. Sales revenue fell by 55 per cent to KES1.3bn. The company attributed the widening loss to a difficult business environment with increasing input prices, the sluggish market and challenges in its production due to a tight working capital. |
ARM and EAPC risk sanctions due to royalty arrears12 February 2019, Published under Cement NewsAthi River Mining (ARM) and East African Portland Cement (EAPC) are risking their operating licence following an audit report of companies in the cement sector that are in royalty arrears with the Kenyan state, according to a report by Agence Ecofin. A taskforce report recommended to the Ministry of Mines that the granting of such licences be tied to the payment of royalties or cement levy. It also wants payment records to be used as one of the licensing conditions. “To enhance royalty or ... |
East African Portland Cement pleads for more time03 September 2018, Published under Cement NewsSimon Peter Ole Nkeri, managing director of East African Portland Cement (EAPC), has urged the courts and creditors to give the company time, while it trims staff levels and sells 14,000 acres of land to the newly-established Special Economy Zones Authority (SPEZA). "All we are saying to the court is we need time to sort issues out and sell some assets. Creditors are also knocking on our doors, but we have a plan," said Mr Nkeri. EAPC needs to take urgent measures to return to pr... |
Kenya's cement consumption falls to 1.4Mta in 2Q1813 July 2018, Published under Cement NewsCement demand in Kenya has fallen to 1.4Mta in the second quarter of the year, according to a report from the Kenya National Bureau of Statistics (KNBS). The agency attributes the drop to a continued slowdown in real estate activity. In the first quarter of 2017 domestic cement consumption reached 1.5Mt but has since decreased. Furthermore, the continuing decline was also reflected in a 15.7 per cent drop in cement imports as well as in an eight per cent fall in clinker imports during the... |
East Africa Portland Cement Co suffers operational issues16 April 2018, Published under Cement NewsEast African Portland Cement Company (EAPCC) has experienced operational challenges over the last two months, according to The East African. Amongst the issues faced by the company was a production halt, salary delay and a low supply of cement stock. This follows its net loss widening by almost four times to US$9.6m in the 2H17, as a result of low revenues. The results for the full-year period ending June 2017 saw a loss of US$14.71m, compared to a US$41.45m profit in the year-ago period.... |
East African Portland Cement Co to build inland container depot13 April 2018, Published under Cement NewsEast African Portland Cement Co wants to establish an inland container depot in Athi River to deliver imported raw materials to its plant via the standard-gauge railway. Managing Director. Simon Peter Ole Nkeri. said the move could ease costs of finished products and make Kenya-made goods affordable in east Africa and competitive on the global stage. "We heavily rely on imported raw materials like clinker for the manufacture of cement. We are engaging the government on this issue and ar... |