Cement News tagged under: East African Portland Cement Co
EAPCC in spat with CMA over Lafarge appointment31 December 2013, Published under Cement NewsEast African Portland Cement Company (EAPCC) has gone to court, seeking to lift the suspension of its annual general meeting resolutions by the Capital Markets Authority (CMA), according to a report in Kenya’s Business Daily. The company argues that the CMA lacks the mandate to suspend the resolutions since AGMs are overseen by the Registrar of Companies. CMA suspended the resolutions by shareholders two weeks ago following a protest from the government, which is the majority shareholder. ... |
EAPCC swings to full-year profit, Kenya28 October 2013, Published under Cement NewsEast African Portland Cement Co (EAPCC) has posted a profit for the full-year ending June 2013, having recorded a loss in the same period of last year. The company, in which Lafarge and Bamburi Cement each have a stake, reported that profit after tax rose to KES1.7bn (US$20m) compared to a net loss of KES972.7m the year before, the Nairobi Securities Exchange said on Friday. Sales increased by 8.2 per cent YoY to KES9.2bn while the cost of sales fell by 6.9 per cent. “This was due to ... |
Kenya: confidence running high for East African Portland Cement10 June 2013, Published under Cement NewsInvestors in East African Portland Cement Company saw the cement manufacturer’s share price rally to a 12-month high at the end of trading on Friday. Shareholders hope that the company will post a profit in the full-year period ending 31June. Local analysts confirm that confidence is returning and investors can expect the cement maker to post a profit in the full-year period, having previously been in the loss-making territory. “There’s expectation of good performance and better turnover ... |
East African Portland Cement eyes expansion26 February 2013, Published under Cement NewsKenya’s East African Portland Cement Co (EAPCC) is exploring the option of expanding its operations both at home and in neighbouring Tanzania, according to reports by Reuters. “We are now discussing the financing of these projects,” Reuters quoted managing director, Kephar Tande as saying. Cost cutting measures and improved cement sales helped EAPCC post a profit for the first six months of last year. EAPCC made a pretax profit of KES376.27m (US$4.3m) for the six months ended December, co... |
EAPCC announces new strategy, Kenya01 October 2012, Published under Cement NewsEast African Portland Cement Company (EAPCC) of Kenya has announced the appointment of two management positions and revamp its strategy implementation and operations as it aims to increase efficiency. EAPCC has appointed two managers to head its production and human resources departments. Former Bamburi Cement and Athi River Mining employee Engineer Charles Charo is the new Head of Production Operations. Charo has 25 years of experience in cement manufacturing while John Ole Kimanjoi has... |
Kenya: cement makers gamble on growing demand03 May 2012, Published under Cement NewsCement makers in Kenya are hoping demand from the housing sector, infrastructure and exports will sustain steady growth in consumption of the commodity in the local market. Despite reports of a slowing real estate sector, manufacturers say consumption of the cement increased in the 1Q12, driven by the other two segments. "This is driven mainly by three sectors: housing, infrastructure and exports. Overall consumption from these three sectors did increase in the first quarter," said Surend... |
High Court blocks appointment of new chairman, Kenya16 February 2012, Published under Cement NewsA High Court Judge has blocked President Kibaki's appointment of new East African Portland Cement (EAPCC) chairman Dr Isaac Mpapaluu ole Mepenay pending a ruling on March 16, All Africa news reports. Judge Mohammed Warsame on Wednesday suspended the gazette notice on appointment of Mr Mepenay until a a ruling is made to determine whether the cement manufacturer is a state corporation. In an urgent application lodged at the High Court in Nairobi on Tuesday, four directors of EAPCC went to co... |
Kenya: quarry blockage paralyses cement plant13 February 2012, Published under Cement NewsBarely two weeks after the troubled East African Portland Cement (EAPC) resumed operations, the cement factory is facing closure due to lack of raw materials. Members of Maasai community have closed access to the cement factory’s quarry at Kabini and Ngurunga, thus crippling the operations of the cement firm. The 300-acre Kabini quarry is a no-go zone for company tippers. The material cannot be transported to the Athi River cement plant. Hundreds of workers at the plant now while their... |
EAPCC operations likely to resume on Thursday, Kenya25 January 2012, Published under Cement NewsEast African Portland Cement Company (EAPCC) is expected to resume operations after the parties involved in a dispute have reached a solution. EAPCC chairman, Mark ole Karbolo, said that a “solution has been found” and that the board was meeting all stakeholders to agree on a return-to-work formula, All Africa news reported. "It is the intention of the board that the company resumes operations immediately. The underlying issues that were raised will be addressed following the right pro... |
East Africa Portland Cement workers return to plant, Kenya24 January 2012, Published under Cement NewsEast African Portland Cement employees have returned to plant operations after signing a ‘return-to-work’ agreement with management, local press reports. The agreement comes after the works was shut for more than eight days due to a dispute between staff and the board of directors. Chairman of the board, Mark Karbolo and Ogutu Were of the Chemical and Allied Workers Union, witnessed the signing of the deal. In the agreement, Karbolo said he will act on all the allegations attributed to... |