Cement News tagged under: Africa

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Leading cement producers: 2017 overview

29 March 2018, Published under Cement News

On the whole, 2017 was a year of growth for the world's leading cement producers. HeidelbergCement saw its revenues advance by 13.8 per cent YoY, while China's Anhui Conch reported sales growth of 34.7 per cent. Dangote recorded an improvement in revenue of 31 per cent while Cemex, Buzzi Unicem, Vicat and CRH all saw more marginal expansions of between two and 5.1 per cent YoY (see Figure 1). The only major to report a fall in sales revenue was LafargeHolcim, dipping 2.9 per cent as its ceme...

Dangote receives approval to raise NGN300bn in local-currency bonds

22 March 2018, Published under Cement News

Dangote Cement Plc has announced that it received approval from the Securities and Exchange Commission (SEC) and other regulators to raise NGN300bn (US$833m) in local-currency bonds, according to This Day. The bond will be issued in stages of NGN50bn whenever interest rates are favourable. The company plans to use the fund to finance its expansion and refinance its debt. Dangote is expected to spend US$350m on capital projects this year, which includes building export facilities at Nigeria...

Dangote Cement records 31% revenue increase in 2017

21 March 2018, Published under Cement News

Dangote Cement Plc has announced its unaudited results for the full-year 2017 period, which show a 31 per cent YoY increase in revenue to NGN805.6bn (US$2.24bn) from NGN615.1bn. Revenue attributable to Nigeria grew by 29.6 per cent YoY, with the sales from the company’s three plants in the country contributing NGN552.36bn. The remaining NGN258.44bn was generated by plants in other African countries, with the revenue of Dangote’s pan-African operations rising 32.5 per cent. Profit after ta...

LafargeHolcim announces new Middle East/Africa organisation

06 March 2018, Published under Cement News

LafargeHolcim has announced its new organisation for the Middle East and Africa region. "This new organisation will further increase our market focus, our operational performance and support the development and execution of winning market strategies to grow profitable businesses in the Middle East & Africa markets," said Saâd Sebbar, who heads up the company’s MEA Region. The company’s four largest markets will report directly to Mr Sebbar and include the following Country CEO appointment...

PPC makes several changes to its board

06 March 2018, Published under Cement News

PPC has announced that Jabu Moleketi has been appointed as chairperson, with immediate effect. Mr Moleketi replaces Peter Nelson who, along with non-executive directors Sydney Mhlarhi and Dawn Earp, resigned on Friday. The departure of Mr Nelson follows allegations that Prudential Investment Managers South Africa, one of PPC’s largest shareholders, had sent a formal request for his removal, according to the Business Report. Noluvuyo Mkhondo, an investment banking and corporate finance ...

A time of reassessment for HeidelbergCement

23 February 2018, Published under Cement News

This week it was announced that HeidelbergCement would be selling its 51 per cent stake in the Lehigh White Cement Co LLC while the company also reported on its full-year and 4Q17 results . The sale of HeidelbergCement's interest in the Waco and York cement plants in the USA would mean a complete exit from the North American white cement market for the Germany-based multinational. HeidelbergCement is carrying out a global portfolio review and optimisation process to generate cash flow. T...

PPC makes three new appointments

15 February 2018, Published under Cement News

PPC has appointed its current interim Chief Executive, Johan Claassen as CEO and an executive director of the group with immediate effect. "Since his appointment as interim CEO Johan has overseen a number of important milestones including the successful stabilisation of the business, an improvement in efficiencies following the completion of key projects and the strengthening of PPC's financial position," said Peter Nelson, chairperson of PPC. Elsewhere, Njombo Lekula has accepted the...

Tanzania is the latest price-pressured African market

22 September 2017, Published under Cement News

While South Africa's cement market is wrapped up in merger talk and oversupply, and Ghana's cement industry is crying out for protection against low imports, Tanzania is the latest African country to find that the bustle for greater market share is pushing prices down to unsustainable levels. Tanzania's price war Tanzanian cement producers are facing a sudden collapse in profitability as cement prices are falling in an increasingly competitive market. Heidelberg-owned Tanzania ...

Hima partners with Chinese contractor for three infrastructure projects in Uganda

06 September 2017, Published under Cement News

Hima Cement, LafargeHolcim company in Uganda, and China Communications Construction Company (CCCC) on 12 July signed a memorandum of understanding to deliver solutions for three major infrastructure projects. The Ugandan government prioritising infrastructure development as one of the drivers of economic growth and Hima Cement will contribute to the country’s effort to build durable and reliable infrastructure. According to a memorandum of understanding (MoU) signed mid-July, LafargeHolcim ...

AfriSam submits revised PPC merger offer

05 September 2017, Published under Cement News

South Africa’s cement maker AfriSam has submitted a revised merger approach to larger domestic rival PPC, the company said on Monday. AfriSam’s latest proposal values PPC at 5.75 rand per share, or SAR9.2bn (US$709.47m), and is the company’s  third attemp to merge with PPC and create a pan-African cement group with assets across six countries. As part of the proposal, the African unit of Canada's Fairfax Africa Holdings offered to buy 22 per cent of PPC at 5.75 rand per share for SAR2b...