Cement News tagged under: East African Portland Cement Co
East African Portland Cement reports KES1.4bn loss08 November 2017, Published under Cement NewsEast African Portland Cement Co (EAPCC) saw its net profit of KES4.1bn (US$39.6m) for the year ended 2016 evaporate to record a KES1.4bn loss for the year ended 30 June 2017. Revenues at the Kenya-based cement producer fell 21.9 per cent YoY to KES6.93bn from KES8.87bn. Loss before tax in FY17 stands at KES1.71bn compared with a pretax profit of KES3.73bn in the year-ago period. |
East African Portland Cement appoints head of HR17 August 2017, Published under Cement NewsEast African Portland Cement Company (EAPCC) has appointed Janerose Karanja as its head of Human Resources. Ms Karanja joins the company from the parent Ministry of Industry, Trade and Co-operatives as the cement firm embarks on organisational changes for its turnaround strategy. Ms Karanja is a human resource expert with more than 25 years' working experience, 12 in various State agencies including the departments for Industry and Energy. She holds an MBA (Human Resource Management) from... |
EAPCC announces 10% price cut20 July 2017, Published under Cement NewsEast African Portland Cement Co (EAPCC) has announced a 10 per cent reduction on the ex-factory price of its Blue Triangle Cement. The Kenyan cement producer attributed the price cut to improved processes following the implementation of a strategic turnaround plan it embarked on last year, according to a report in The Star national newspaper. “Over the last 10 months, we have been re-engineering our processes from production to distribution, sales and marketing,” EAPCC Managing Director... |
Kenya: East African Portland Cement reports 1H16-17 pretax loss23 February 2017, Published under Cement NewsIn the first half of the FY16-17 ended December 2016 East African Portland Cement Co (EAPCC) has reported a pretax loss of KES533.7m (US$5.2m), an improvement when compared with the loss of KES745m reported a year ago. Revenues in the first half fell from KES4.62bn to KES3.72bn. EAPCC operates a 1.14Mt cement plant at Athi River and also owns downstream concrete activities. It is Kenya's fourth-largest cement producer after Lafarge Bamburi, Mombasa Cement and Savannah Cement. |
Kenya: East African Portland Cement to lay off two-thirds of workforce18 November 2016, Published under Cement NewsIn a restructuring plan unveiled this week, East African Portland Cement (EAPC) has said it will lay off more than 1000 of its more than 1500 workers, reducing the firm’s headcount to just 500, the Daily Nation reports. “We are overly overstaffed with our employee numbers at over 1500 and close to 2000. By benchmarking with the rest of the industry we need only 500,” said Bill Lay, EAPC’s chairman. The company, which made an operational loss of KES1.6bn (US$15.7m) in the last financial... |
Kenya: East Africa Portland Cement sees 2015 profits fall 42%11 November 2016, Published under Cement NewsEast 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 staff19 September 2016, Published under Cement NewsSimon 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 holdings08 July 2016, Published under Cement NewsThe 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 warning26 February 2016, Published under Cement NewsKenya-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 officer28 August 2015, Published under Cement NewsKenya-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... |