Cement News tagged under: Dangote Cement
Dangote Cement nine-month pretax profit up 1.5%04 November 2014, Published under Cement NewsDangote Cement said on Monday its pretax profit for the nine months to September rose 1.5 per cent to NGN154.05bn (US$930.7m), compared with NGN151.72bn in the same period of last year. Revenue for the nine month period was NGN310.21bn versus NGN288.98bn in 9M13, the company said in a filing with the Nigerian Stock Exchange. Price cuts The company has recently slashed prices in the country, reportedly to its lowest level since 2005. The company's 32.5 cement grade now selling at NGN1000... |
Exports loom: Dangote has 29Mta of production in sight24 October 2014, Published under Cement NewsAlhaji Aliko Dangote, president of Dangote Group of Companies, said the company's cement production will hit 29Mt in Nigeria by December this year, while exports will be the next step. Speaking at the Obajana cement plant yesterday, the Dangote president said the 29Mt will be possible after the commencement of operations of the fourth phase of the Obajana cement plant. Mr Johnson Olaniyi, Dangote's regional sales director, said the company will soon start exporting the product to other ... |
Ghana: Dangote sets retail price reduction deadline21 October 2014, Published under Cement NewsDangote Cement says it expects all retailers of its cement to reduce the price by GHS2.70 by Friday, 24 October following concerns that retailers have failed to cut prices after a reduction announced by the cement producer. Dangote reduced its price on 9 October, the day after Diamond Cement and Ghacem cut their prices by GHS2 following the gradual appreciation of the credit agains the US dollar. Speaking to Citi Business News, Dangote’s sales and marketing manager, Joeseph Kobina Abu... |
Dangote reduces Ghana prices on cedi appreciation15 October 2014, Published under Cement NewsDangote, has reduced prices of its cement by GHS2.70 following the gradual appreciation of the Cedi against the dollar and other major international trading currencies. Joeseph Kobina Abu, sales and marketing manager of Dangote Cement Ghana Ltd said the company has reduced "the price from GHS30.75 to GHS28.05 “. The reduction took effect on 9 October 2014. GHACEM had also reduced its ex-factory price from GHS30.55 to GHS27.965/50kg bag, effective Tuesday, 7 October. |
Nigeria: Benue State to sell remaining Dangote Cement plc stake30 September 2014, Published under Cement NewsNigeria’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 Cement09 September 2014, Published under Cement NewsInvestment 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, Nigeria05 September 2014, Published under Cement NewsDangote 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 dips18 August 2014, Published under Cement NewsNigeria'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 NewsLafarge 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 launch30 June 2014, Published under Cement NewsDangote 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 ... |