Cement News tagged under: BUA Cement
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 ... |
CEO to list BUA Cement on the Nigerian Stock Exchange05 April 2018, Published under Cement NewsThe founder of BUA Group, Abdulsamad Rabiu, has announced plans to list the cement sector of the company on the Nigerian Stock Exchange (NSE). Abdulsamad Rabiu, recently nominated for African CEO of the year, stated that he would list BUA Cement on the NSE as soon as it meets the necessary requirements, according to an interview on Channels Television. "We are definitely going to list the cement business because I think we should also give others the opportunity to participate in the... |
BUA seeks President's support to end mining rights squabble07 December 2017, Published under Cement NewsNigerian conglomerate BUA group has asked Nigeria's President, Muhammadu Buhari, to intervene in its argument with Dangote group over limestone mining rights. BUA's Chairman, Abdulsamad Rabiu, said Dangote group was undermining security around his plant in southwest Edo state, a region with limestone. Dangote's cement operation is in the central state of Kogi. The mines ministry said BUA group does not have a mining lease for the disputed site, which is the subject of a legal case, and it... |
BUA Chairman says the cement industry is vital for Nigeria's foreign exchange01 November 2017, Published under Cement NewsAlhaji Abdulsamad Rabiu, chairman of BUA Group, has said that the local cement manufacturers produce over 25Mt cement thus saving the country US$2m annually in foreign exchange. "The most important thing I think is that the cement industry in Nigeria will continue to save Nigeria a lot of foreign exchange. If for example, you look at what we have produced in Nigeria today, maybe 25Mt to 30Mt, if we quantify that in terms of foreign exchange it is almost two billion dollars per year," Raibu... |