Cement News tagged under: Dangote
Dangote sees 21% rise in revenues, but drop in profit for 3Q1631 October 2016, Published under Cement NewsDangote reported a revenue of NGN442bn (US$1.4bn) for the nine months ended 30 September 2016, representing a 21 per cent YoY increase from NGN365bn in 9M15. Profit after tax fell to NG133bn from NGN157.9bn in 2015, impacted by foreign exchange issues and resulting in a much higher cost of sales, up from NGN138.694bn in 9M15 to NGN231.684 in 9M16. The Managing Director of Dangote Cement, Onne Van der Weijde said the management is confident of delivering strong growth this year despite t... |
Dangote19 October 2016, Published under Cement NewsDangote’s lawsuit against Ibeto Cement Co has been adjourned to 1 November 2016 pending a decision by the Court of Appeal on the matter. Dangote is claiming that Ibeto is enjoying an undue advantage by evading taxes. Meanwhile, Nigeria’s federal government is contending that Dangote is creating a monopoly in the country’s cement sector, wiping out fair competition and a level playing field. Dangote has also come under fire in Ghana where the company’s tough pricing policies are being blam... |
Dangote Asian expansion?18 October 2016, Published under Cement NewsAccording to a Ghanaian news source, Dangote Cement is hoping to expand into the Asian market over the next decade. It is reported that the company plans to launch in southeast Asia and Latin America once it is able to consolidate its operations in Africa. Immediate targets for such an expansion are countries such as Nepal, Indonesia, Vietnam and Colombia, according to Armando Martinez Gallegos, director of Dangote’s Ibese plant in Nigeria. Mr Gallegos commented, “Dangote has to first ... |
Dangote exports Ethiopian cement to Kenya31 August 2016, Published under Cement NewsKenya's cement market is now being supplied with cement from a new source as Dangote has started exports from its 2.5Mta Ethiopian plant to the east African country. Industry sources said the majority of the exports are destined for road construction projects in the north of Kenya. The step is expected to drive down prices in a market that has seen virtually no price changes in the past decade. Dangote said that the cement exported to Kenya is priced at around KES7400 (US$74)/t or up ... |
Chinese firm invests in Zimbabwe26 August 2016, Published under Cement NewsMortal Investments Manufacturing Co announced that it is constructing a 1Mta plant in Redcliff, Zimbabwe. The arrival of the Chinese firm in the country is expected to intensify competition in the market that has been dominated by Lafarge and PPC. Mortal Investments is the second producer to invest in the region, following the lead of Sino-Zimbabwe Cement. This is positive news for locals, as it will bring a further 400 jobs to a town that has been struggling with high levels of unemploym... |
Tanzania: cement producers optimistic for future25 August 2016, Published under Cement NewsIn the face of overcapacity and cheap imports in the local market, cement producers in Tanzania remain optimistic about future prospects, which seem more positive in light of a continuing construction boom. Tanzania has an installed production capacity of 8.3Mta and a current demand of only 4.3Mta, but major infrastructure projects are expected to drive business and boost growth. Local producer Tanga Cement reported a decline in profit for 2015 compared to the previous year as a result of... |
Ghana: government blamed for Diamond Cement downsizing15 July 2016, Published under Cement NewsThe Afloa Youth Association in the Volta region have accused the Ghanaian government of being insensitive towards the downsizing of local cement manufacturer Diamond Cement as a result of competition with Dangote Cement. Diamond Cement has repeatedly voiced concerns regarding Dangote’s involvement in the retail of cement in Ghana, saying it is unfair competition. Dangote’s presence in the country is speculated to have reduced Diamond Cement's annual production from 1.8m bags to 1.3m bags.... |
Nigeria: cement prices increase12 July 2016, Published under Cement NewsAccording to The Guardian Nigeria market research, there has been a fluctuating increase in cement prices since May 2016. Previously prices had been reduced by Dangote Cement Plc, the leading producer of cement in the country, with prices dropping from approximately NGN2000 (US$7.08) to NGN1000-1400 (US$3.54-4.96) per 50kg bag. However, bags of cement sell now at up to NGN2000 across all brands. This return to high prices has slowed housing construction, real estate activities and has inc... |
West Africa powers up04 July 2016, Published under Cement NewsWest Africa’s booming population and economic development are expected to fuel cement consumption in the long term and the region’s prospects look bright. However, as the regional cement sector rapidly builds production capacity to keep pace with anticipated demand, challenges remain for the industry, including inflation, lower oil receipts and power shortages. By ICR Research, UK. Ghana: HeidelbergCement's Tema plant keeps production rolling West Africa’s population is set to m... |
Dangote Cement appoints two regional CEOs01 October 2015, Published under Cement NewsDangote Cement has appointed two new Regional Chief Executive Officers (RCEOs) to lead its Nigeria and West and Central Africa divisions. Arvind Pathak has been named the new RCEO of Nigeria while Vivek Chawla is the new RCEO for West and Central Africa. Mr Chawla has over 30 years of experience in the cement industry working across functions including management, operations, sales & marketing, projects and commercial. Prior to his appointment at Dangote Cement Plc which became effective ... |