Cement News tagged under: East African Portland Cement Co

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Kenya: East Africa Portland Cement sees 2015 profits fall 42%

11 November 2016, Published under Cement News

East Africa Portland Cement Company (EAPCC) has announced that its profits for the financial year ending in June 2016 were KES4.2bn (US$41m), having fallen by 42.1 per cent in comparison to the previous year. According to reports in the Nation newspaper, EAPCC’s revenues rose by 5.4 per cent to KES8.9bn, but higher expenses – including financing costs that were up by 67.3 per cent – and increased cost of sales wiped out those gains. The Nation reports that EAPCC has recommended against...

Kenya: East African Portland Cement MD refused to reinstate sacked staff

19 September 2016, Published under Cement News

Simon Peter ole Nkeri, managing director of East Portland Cement Co, is being sued for contempt of court by five former employees of the company, report the Star (Kenya). The MD refused to reinstate the five workers that a court had said were unlawfully dismissed. Five months ago, Justice Hellen Wasilwa had directed that Benjamin Nduati, Ibrahim Mugo, Evans Abuga, Desmond Owiyo and Felix Vunga be given back their jobs. She said that they were dismissed unfairly, for lack of adequate ...

Kenya: LafargeHolcim accused of conflicting priorities over EAPCC holdings

08 July 2016, Published under Cement News

The outgoing chief executive of the East Africa Portland Cement Company (EAPCC), Kephar Tande, has told Kenya’s Standard newspaper that LafargeHolcim should either divest itself of its holdings in the firm or take it over completely. Kephar Tande, who steps down in November, said that LafargeHolcim’s 41.7 per cent stake in EAPCC makes the multinational firm his largest shareholder. However, LafargeHolcim also holds a 58.9 per cent stake in Bamburi Cement, Kenya’s biggest producer. Mr T...

Kenya: EAPCC issues profit warning

26 February 2016, Published under Cement News

Kenya-based East African Portland Cement Co (EAPCC) expects its profit to fall by more than a quarter in the financial year ending June 30 citing year-earlier gains on land sales, Reuters reported yesterday. "The unrealised fair value gain on investment property and the gain on disposal of land will not recur this financial year," EAPCC said in a statement. The company's pretax loss widened to KES745.02m (US$7.33m) in the first half on higher finance costs and foreign exchange losses. EAP...

EAPCC appoints new chief operating officer

28 August 2015, Published under Cement News

Kenya-based East African Portland Cement Co (EAPCC) has appointed Albert Sigei as chief operating officer, effective 24 August 2015. Sigei will be responsible for production operation, production engineering, supply chain management, sales and marketing. He joins EAPCC from Lafarge, Nigeria, where he was vice-president of business support and ready-mix operations. EAPCC has recently undertaken an investment project at its cement plant in Athi River, Kenya, centred on improvements to the cl...

East African Portland Cement posts pretax loss

03 March 2015, Published under Cement News

East African Portland Cement Co (EAPCC) posted a first-half loss after a maintenance shutdown of its packing and clinker units. The company reported a pretax loss of KES124m (US$1.36m) for the six months to end of December, against a profit of KES171m in the same period in 2013. The firm, which also operates in Uganda, said it hopes to regain its market share in the industry after completing a plant refurbishment in the second quarter of this financial year. "Despite the growing competiti...

Kenya: new appointments at EAPCC

23 December 2014, Published under Cement News

Former Capital Markets Authority (CMA) chairman, Kung’ Gatabaki, has joined the East African Portland Cement (EAPCC) board as one of two new directors nominated by the global conglomerate Lafarge, stepping into the shoes of former Kenya Airways CEO, Titus Naikuni, who held the position for eight years. Prof Sarone ole Sena, the chairman of the Eldoret University Council, has also joined the EAPCC board. The two new directors were appointed in a special board meeting. Mr Gatabaki, who serve...

Kenya: EAPCC begins Athi River upgrade project

11 November 2014, Published under Cement News

East African Portland Cement Company (EAPCC) has started the upgrade of its Athi River plant in Kenya as the company aims to improve reliability, increase production and enhance energy efficiency. Joseph Kombo, head of production at EAPPC said the upgrade is focussed on the kiln and packing section of the cement works. "In the packing plant, we are upgrading the mechanical and electrical components of the packers as well as improving the bag conveying system all geared towards improved...

Kenya: EAPCC swings to full-year loss

27 October 2014, Published under Cement News

East African Portland Cement posted a net loss of KES386m (US$4.32m) for the year ended June 30, due to price competition, high staff costs and the weakening shilling. The Kenyan cement producer posted a net profit of KES1.7bn a year earlier. The company said its administrative costs had gone up by KES700m following a restructuring of its management, staff compensation and an increase in staff gratuity, Reuters reported.

Kenya: Lafarge under competition probe

16 May 2014, Published under Cement News

Kenya’s antitrust authority may force Lafarge SA to sell some of its domestic interests if the cement maker is found to be flouting domestic competition rules, according to Bloomberg reports. The Competition Authority of Kenya is probing Lafarge’s influence on Kenya’s cement industry through its 59 per cent stake in Bamburi Cement Co and 42 per cent shareholding in East Africa Portland Cement Co (EAPCC). The findings will be published next month, Director-General Francis Kariuki said in an ...