Cement News tagged under: ARM Cement
ARM anticipates higher earnings growth04 October 2013, Published under Cement NewsKenya-based ARM Cement expects a slight acceleration in earnings this year as new capacity in Tanzania boosts volumes, its chief executive has said. Referring to his expectations for profitability and sales, Pradeep Paunrana told Reuters: “This year we are looking at increasing our top line and bottom line by 35 per cent over last year and next year we expect a similar growth.” The company commissioned a 0.75Mta grinding plant in the Tanzanian capital of Dar es Salaam a year ago, adding ... |
ARM Cement denies pollution claims08 August 2013, Published under Cement NewsARM Cement has denied claims of causing environmental pollution in the Kenyan coastal town of Kilifi, saying that its operations meet international practices and standards. CEO Pradeep Paunrana assured the residents living within the cement maker’s proximity that they are not exposed to pollution caused by cement manufacturing from its process. “Operations are pollution-free within and without the factory and we challenge anybody of contrary opinion to prove us wrong on this,” he said, add... |
ARM Cement to spin off non-cement business24 July 2013, Published under Cement NewsKenya-based ARM Cement plans to spin off and list non-cement business on the Nairobi bourse within three years. “We are very hopeful that in two to three years, we will have listed the new non-cement business and market it as an independent brand in the region,” managing director, said Pradeep Paunrana, adding that the company is laying grounds for the separation. “The businesses are intricately related and dependent, therefore, it would not be in the benefit of the company to have inde... |
ARM's 1H13 pretax profit rises 28%, Kenya10 July 2013, Published under Cement NewsAn increase in sales has helped ARM Cement, Kenya's second-largest cement producer, to achieve a double-digit rise in pretax profit. Pretax profit for the six months ended June jumped to KES1bn (US$11.51m), a rise of 28 per cent YoY, the company said in a statement. Cement sales rose by 28 per cent YoY in the reporting period. The company, which operates a 0.75Mta clinker plant at Kaloeni, near Mombasa, and a 1Mta grinding works in Athi River, has a total grinding capacity of 1Mta. It... |
Athi River calls for use of locally-manufactured product01 July 2013, Published under Cement NewsAthi River Mining Tanzania Ltd is seeking the government’s intervention to stop sub-standard imports entering the local market. Concerns have been raised recently over the quality of imports into the East Africa region amidst claims that some manufacturers are using local agents that are unqualified leading to sub-standard products. Calls have been made for all cement imports to be subject to the same technical standards and regulations as local cement. Rick Ashley, chairman of ARM Cem... |
Kenya: confidence running high for East African Portland Cement10 June 2013, Published under Cement NewsInvestors in East African Portland Cement Company saw the cement manufacturer’s share price rally to a 12-month high at the end of trading on Friday. Shareholders hope that the company will post a profit in the full-year period ending 31June. Local analysts confirm that confidence is returning and investors can expect the cement maker to post a profit in the full-year period, having previously been in the loss-making territory. “There’s expectation of good performance and better turnover ... |
ARM Cement boosted by higher sales21 March 2013, Published under Cement NewsARM Cement, Kenya's second-largest producer, has reported an eight per cent advance in 2012 net profit and says it expects improved profitability on the back of new capacity. Formerly known as Athi River Mining, the company said in a statement that net income advanced to KES1.25bn (US$14.6m) in the first 12 months of December. Cement sales rose 64 per cent after its market share increased in Kenya, Rwanda and Tanzania. That helped turnover increase by 39 per cent to KES11.4bn. For the f... |
Dangote Cement could tip the balance to oversupply in East Africa14 November 2012, Published under Cement NewsPlans by Dangote Cement to set up a manufacturing plant in Tanzania have complicated expansion plans for Kenyan firms that have dominated exports of the commodity into the East Africa region in recent years. The planned cement plant, owned by Africa’s richest man Aliko Dangote, is expected to put an additional 1.5Mt of capacity by 2015, which will plug Tanzania’s cement deficit. Dangote’s cement factory in Southern Tanzania will be commissioned within one year of the launch of ARM’s factory... |
Increased sales boost ARM Cement's 9M12 pretax profit, Kenya22 October 2012, Published under Cement NewsKenya’s second largest cement producer ARM Cement (formerly Athi River Mining) said in the first nine months pretax profit rose to KES1.2bn (US$14.1m) from KES296m, driven primarily by higher sales of Rhino Cement. Rhino Cement, which is ARM's flagship operation set up in 1997, launched its Tanzania cement production plant in Dar es Salaam this month. Turnover for the first three quarters of the year jumped 29 per cent to KES7.74bn compared to the same period the previous year. ARM s... |