Cement News tagged under: Dangote Cement

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Dangote Cement inaugurates plant in Rep of Congo

23 November 2017, Published under Cement News

Dangote Cement will inaugurate its 1.5Mta cement plant in the Republic of Congo on Thursday. The plant is expected to create approximately 1000 jobs and will become Dangote's 10th fully-operational plant in Africa. The US$500m works produced its first bag of cement on 7 August. Unaudited 3Q results show that the new plant has almost doubled the size of the cement sector in Congo, according to Vanguard. Meanwhile, Dangote Cement saw an increase of 7.5 per cent in pan-African cement sal...

PPC

01 November 2017, Published under Cement News

October has seen the saga over PPC’s future continue to dominate the headlines. Last month saw AfriSam submit a merger deal, backed by Toronto-based Fairfax Financial Holdings. However, Prudential Investment Managers, which holds a 13-14 per cent stake in PPC, opposed the merger saying that the AfriSam deal undervalued PPC and that PPC’s share price would double in the next 3-4 years as operations across Africa ramp up. Visio Capital Management, which has a seven per cent share in PPC, th...

Dangote Cement group increases revenues by 37% in 9M17

20 October 2017, Published under Cement News

Dangote Cement’s overall group revenue increased by 36.5 per cent from NGN442.1bn (US$1.08bn) in the first 9M16 to NGN603.6bn in 9M2017, despite a 10.1 per cent fall in group cement volumes to 16.5Mt, as the impact of price increases dampened demand in Nigeria. The group’s profit for the period was NGN193.1bn, up 44.6 per cent compared to NGN133.5bn in 2016. “Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37 per cent despite a fall in volumes. In our key ...

Dangote pull out of potential PPC acqusition deal

09 October 2017, Published under Cement News

Dangote Cement Plc, pulled out of its bid to acquire the share capital of PPC Ltd. In a regulatory filing at the weekend, Dangote Cement board of directors stated that it has notified PPC board of directors that it no longer has an interest in acquiring the South African firm’s share capital. Dangote Cement had last month confirmed that it had initiated a bid to acquire PPC Lt. It, however, noted that the acquisition talks were still at the preliminary stage and the transaction remained...

Dangote Cement's Bouasnsa plant is almost complete

03 October 2017, Published under Cement News

The US$300m Dangote cement grinding plant situated at Bouansa, Congo will start-up this month, Dangote Cement Plc has announced. Dangote cement's CEO, Onne van der Weijde, said: "The Congo Cement plant is now 99 per cent complete and set to commence operations." Dangote cement plant at Bouansa, Congo, expected to contribute at least 1.5Mta capacity, is a positive step steering the company towards the total yearly manufacturing capacity of about 32Mta across Africa. Dangote Cement Congo ...

Dangote Group implores Nigeria's federal government to back concrete roads

02 October 2017, Published under Cement News

Devakumar Edwin, executive director, strategy, portfolio development and Projects, Dangote Industries Limited, has appealed to Nigeria's federal government to embrace concrete road and use cement for the construction of its roads in Nigeria for durability purpose. Aside from being very cheap, he said concrete roads are more durable and that its maintenance cost is near zero. According to him: "We are pushing for Nigeria to do a concrete road. It is cheaper to do a concrete road that will la...

PPC

25 September 2017, Published under Cement News

PPC shareholders will meet in early October to discuss merger proposals for the company. Following two previous unsuccessful attempts, AfriSam has once again submitted a merger deal, this time supported by Toronto-based Fairfax Financial Holdings. This has been followed by a new deal from Dangote Cement, which apparently has the support of two banks. According to local media reports, PPC’s largest shareholder, Public Investment Corporation (PIC), supports the joint offer from AfriSam and ...

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 ...

Dangote confirms "preliminary talks" with PPC

15 September 2017, Published under Cement News

Talks between Dangote Cement and PPC regarding the possible acquisition of PPC by Dangote are in a "preliminary stage", according to the Nigeria-based cement producer, confirming news reports earlier this week . If successful, Dangote Cement would extend its presence in South Africa. Currently the company owns a 64 per cent stake in Sephaku Cement. "DCP (Dangote Cement Plc) hereby confirms that the board of directors of DCP has merely communicated its interest to the board of directors o...

Dangote earns US$86m in revenues from Ethiopia

14 September 2017, Published under Cement News

Dangote Cement earned revenues of more than US$85.8m from its plant in Ethiopia in the financial year that ended 8 July. Export volumes of more than 2Mt contributed significantly to sales revenues, including some US$1m from export sales to Kenya and Djibouti, according to Tariku Alemayehu, Dangote Cement’s deputy director of sales and marketing. Dangote Cement’s plant is located near the town of Muger, Oromia, some 85km west of Addis Ababa. Limestone reserves total around 223Mt. The 2....