Cement News tagged under: Dangote Cement

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Nigeria: Benue State to sell remaining Dangote Cement plc stake

30 September 2014, Published under Cement News

Nigeria’s Benue Investment and Property Co Ltd is expected to sell the remaining Dangote Cement plc shares held in trust for the state’s inhabitants on the Nigerian Stock Exchange for a target value of NGN20bn (US$122m), according to sources quoted in This Day Live. The previous sale of the shares erased about 30m shares valued at over NGN7bn of the original 90m shares, which Benue State held in Dangote Cement following the 2010 merger of the defunct Benue Cement Co Plc with other Dangote...

Dubai to acquire interest in Dangote Cement

09 September 2014, Published under Cement News

Investment Corporation of Dubai (ICD), the main investment arm of the Emirate of Dubai, has agreed to purchase a minority interest in Nigeria's largest cement manufacturer, Dangote Cement plc, from majority shareholder, Dangote Industries Ltd. Under the terms of the agreement, which was signed at a ceremony in Dubai attended by HE Mohammed Ibrahim Al Shaibani, executive director and CEO of the Investment of Corporation of Dubai and Aliko Dangote, president and CEO of Dangote Industr...

Dangote rolls out price cuts, Nigeria

05 September 2014, Published under Cement News

Dangote Cement yesterday said it has reviewed the price of its cement in Nigeria and announced a price cut of NGN100 (US$1)/50kg bag. Speaking to local journalists, the company's managing director, Edwin Devakumar, said that the new prices would be rolled out to distributors as of 4 September 2014. Mr Devakumar also stated that to further comply with the Standards Organisation of Nigeria (SON) directive and regulations, the company has announced plans to launch its grade of premium 32...

Nigeria: Dangote pretax profit dips

18 August 2014, Published under Cement News

Nigeria's Dangote Cement said on Friday its half-year pretax profit fell to NGN107.06bn (US$659.4m), down 0.57 per cent from NGN107.68bn a year ago. However, turnover rose to 208.91bn during the six months period to 30 June 2014, compared with NGN198.46bn last year, the cement company said in a filing with Nigerian Stock Exchange.

Lafarge expansion to upset Dangote Cement plans?

11 July 2014, Published under Cement News

Lafarge Wapco’s shareholders have approved the merger between the Nigerian unit of French cement maker Lafarge, Lafarge Wapco, and its wholly-owned South African subsidiary. The consolidation of the South African unit with Nigeria’s Lafarge Wapco, Lafarge says, will help accelerate its growth on the African continent and expand its product offering in South Africa and across the region. The merger, analysts say, is a clear signal of Lafarge’s intent to compete for a larger share of Africa’...

Dangote’s Cameroon plant scheduled for August launch

30 June 2014, Published under Cement News

Dangote has rescheduled the launch of its Cameroon cement plant for August 2014, management told local press during a site visit to the new plant.  Baba Abdullahi, Dangote Cement Cameroon’s managing director, said the factory’s launch has been rescheduled due to to electricity provision problems, the need to ensure viable access to the cement factory and unfavourable weather which has caused work to slow.  But, overall, the company’s heads maintain that construction on the Douala factory ...

Ethiopia: two new plants due to commence production in 2H14

25 June 2014, Published under Cement News

Two new cement plants currently being implemented in Ethiopia are expected to begin production in the second half of this year, according to the director general of the Chemicals and Construction Materials Development Institute. Samuel Halala told local press that 90 per cent of Ethio Cement’s construction has been completed, while  Dangote's Mugher works is 75 per cent finalised. The two factories are expected to increase domestic capacity to 15.7Mt. He said he expects production at both ...

Nigeria: authorities urged to sanction slow regulation compliance

16 June 2014, Published under Cement News

Cement distributors and block makers in southeast Nigeria have urged the regula­tory authorities not to back down on the recently-reviewed quality standard and grading of cement. They called on government to sanction product manufacturers that fail to comply within the stipu­lated period of time. The distributors, however, commended Dangote Cement for complying, saying it has shown that it has the interest of its customers at heart and “that everything is not all about profit to the detrime...

Dangote Cement to sell first cement in Cameroon in July

02 June 2014, Published under Cement News

Dangote Cement will start selling cement produced in its factory in Cameroon from July onwards. It expects works on its new plant to be finalised within a month, according to the company. Representing an investment of XOF54bn (US$112m), the new facilities have a 1Mta production capacity and it expected that cement production will surpass 1.5Mta from 2016.  “The price of Dangote cement will be very competitive,” according to Baba  Abdullahi, Dangote Cameroon’s MD, against 50kg bags by ...

Nigeria: Dangote to stabilise cement price

08 May 2014, Published under Cement News

Speaking to shareholders at the 5th 2013 Annual General Meeting Aliko Dangote, Chairman of Dangote Cement Plc, pledged that his company would intensify direct-to-consumer deliveries to help stabilise cement prices in Nigeria. Aliko Dangote admitted that most input costs into cement production have risen to an "astronomically high" level, but that his organisation is committed to reducing prices. Dangote sold 13.3Mt of cement in Nigeria within the financial year representing an increase of 2...