Cement News tagged under: Kenya
Kenya: ARM nears final talks with foreign investor30 March 2016, Published under Cement NewsKenya's ARM Cement Ltd expects to conclude talks on a foreign investor taking a US$140m stake in the company by 15 April. The investment is expected to be concluded by June, the Nairobi-based company said in a statement by the city’s stock exchange on Tuesday. ARM first announced talks about the potential investor in December, when it said it was seeking a US$125m cash injection. “The board and management of the company believe that the investment would, if made, strengthen the financial p... |
Kenya: Bamburi Cement sees 50% profit hike in 201517 March 2016, Published under Cement NewsBamburi Cement’s profit jumped 50.4 per cent YoY to KES5.8bn (US$748m) in 2015 as both domestic and overseas sales saw growth. Operating expenses increased 29 per cent YoY to KES5.2bn. The profit was achieved despite a slowing Kenyan economy in 4Q15, according to Bruno Pescheux, group MD. The 2015 market conditions were more favourable compared to 2014, with stable micro-economic conditions for most of the year in both the domestic and regional markets,” he said. The company saw its operati... |
AllScan PGNA Analyser orders in India and Kenya16 March 2016, Published under Cement NewsRealTime Instruments (RTI) has installed its AllScan PGNA Analyser for a greenfield plant project being undertaken by FLSmidth for Emami Cement in India. The installation took place in just 1.5 days, RTI highlighted in a statement yesterday. Over the last few months the Australia-based online analysis specialist has booked another three AllScan orders for cement projects. Two analysers (one for a stockpile application and one for a raw mill application) have been selected by National Cement... |
Bamburi Cement full-year pretax profit rises 46%11 March 2016, Published under Cement NewsKenya's Bamburi Cement posted a 46 per cent rise in full-year pretax profit to KES8.46bn (US$83.51m), helped by increased sales and investment income and foreign exchange gains. The LafargeHolcim group company said turnover rose by nine per cent to KES39.2bn. Bamburi said it made a foreign exchange gain of KES104m from a loss of KES170m in 2014, while investment income rose to KES374m from KES349m. "Turnover increased ... driven by increased demand in the key domestic markets in Kenya an... |
Kenya: ARM Cement reportedly nears deal with foreign investor on stake08 March 2016, Published under Cement NewsKenyan producer ARM Cement is in the “final lap of concluding investment details with a potential investor,” CEO, Pradeep Paunrana, told Bloomberg in a recent interview. In December ARM announced it was in talks with a foreign institution that planned to invest as much as US$125m. The company has faced “liquidity challenges” that cast doubt on whether it is able to meet obligations on its commercial-paper programmes, the Capital Markets Authority said on Monday. In January, ARM said the for... |
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... |
Kenya November 2015 demand down 5.5%11 February 2016, Published under Cement NewsCement consumption in Kenya fell by 5.5 per cent from 520,833t in October to 492,340Mt in November 2015, according to the Kenyan Bureau of National Statistics. Output decreased 4.8 per cent to 522,446t in November from 547,509t the previous month. For the first 11 months of 2015, domestic demand reached 5.138Mt while production totalled 5.743Mt. |
Kenya: Bamburi railway supply boost02 February 2016, Published under Cement NewsBamburi Cement says it has earned KES1bn (US$9.8m) from supply of cement to the standard gauge railway (SGR) contractor, China Road and Bridges Corp (CRBC) according to a report by the Business Daily (Kenya). The cement maker is among local firms contracted by a Chinese contractor to supply materials for the KES327bn project. Bamburi said in an interview that it has supplied 300,000t of cement to the rail project since September 2014, earning it “over KES1bn.” “The SGR contract has incre... |
Kenya: UltraTech in the race to buy stake in ARM?13 January 2016, Published under Cement NewsUltraTech Cement is said to be eyeing a controlling stake in ARM Cement of Kenya, a Nairobi-based newspaper reported. According to the report, the Indian cement producer UltraTech Cement is in the race to acquire a controlling stake in Nairobi Securities Exchange-listed ARM Cement, in which it could buy convertible preference shares of up to US$125m (KES12.7bn). ARM announced 23 December it is in talks with an unidentified institutional investor about a US$125m investment. |
ARM in talks with international institutional investor31 December 2015, Published under Cement NewsKenyan producer ARM Cement is in ongoing talks with a strategic investor to support its expansion plan. The investment will be in the form of preference shares which may be converted into an equity stake. “ARM Cement Ltd is currently in discussion with an international institutional investor who intends to make an investment of up to US$125m (KES12.7bn) equity investment in the company through convertible preference shares,” said the firm in a cautionary notice. Further details of the i... |