Cement News tagged under: Kenya
Kenyan output and demand growth slows11 December 2015, Published under Cement NewsDuring the first 10 month of the year, Kenyan cement manufacturers increased output by 10.58 per cent YoY, The Star (Kenya) reported citing latest provisional data by the Kenya National Bureau of Statistics (KNBS). This is a slower pace of growth compared to 15.59 per cent in a similar period last year. In the period under review, 5.33Mt of cement were produced, a modest growth over the 4.82Mt recorded in 10M14. The highest monthly production this year was recorded in July at 570,904t, but... |
Kenya: ARM seeks KES10.7bn in private bond17 November 2015, Published under Cement NewsARM Cement is set to raise up to KES10.7bn (US$105m) in debt funding from private investors, to retire short-term debts, Kenya's Business Daily newspaper reported . The cement manufacturer is now raising the amount through a privately placed five-year bond whose offer opened on Thursday last week and runs until 2 December. “The proceeds from the five-year bond will be used to replace existing short term borrowings. There is no increase in total debt only refinancing existing short-term d... |
ARM swings to nine-month net loss, Kenya27 October 2015, Published under Cement NewsAthi River Mining (ARM) posted an after-tax loss of KES469m (US$4.6m) for the nine months to the end of September 2015, largely attributable to the depreciation in regional currencies against the dollar. The cement maker, which reported an after tax profit of KES1.1bn in the same period of 2014, said revenue for 9M15 rose seven per cent to KES11.7bn, thanks to increased cement sales in Kenya and in Tanzania. While the demand for cement grew more than 10 per cent during the period, "the sha... |
Kenya: Bamburi rolls out training seminars for improved construction quality standards30 September 2015, Published under Cement NewsOver 1600 masons from across the country are set to benefit from a training programme organised by Bamburi Cement to improve skills in the building and construction industry in Kenya. Bamburi Cement rolled out the free training seminars from across the country in August, a move aimed at improving construction quality standards in the country. The training seminars are part of the Builders Academy initiative started 12 years ago by the company, with the main objective to enhance masons’ ski... |
Kenya: West Pokot plant construction poised for 2016 start25 September 2015, Published under Cement NewsConstruction work on a long-awaited cement plant in West Pokot County, Kenya, is due to commence early next year, company officials have confirmed. Cemtech Ltd, a subsidiary of India's Sanghi Group of companies, will begin construction work for the KES12bn following approval by engineers who had earlier raised queries over its site, among other issues. The company acquired 650 hectares of land for the 1.2Mta plant about six years ago. Diptish Nandha, general manager of Cemtech, affirme... |
ARM expects new clinker line to boost margins14 September 2015, Published under Cement NewsKenya's ARM Cement expects profitability to improve now it produces its own clinker for its east African cement plants, its managing director told Reuters on Friday. The company posted a pretax loss of KES473.5m (US$4.5m) in the first six months, which the firm blamed on unrealised foreign exchange losses associated with borrowing for its new clinker plant. Managing director Pradeep Paunrana told Reuters that the new 1.2Mta clinker plant, which began production in April, was operating at a... |
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... |
Bamburi first-half pretax profit jumps 94%28 August 2015, Published under Cement NewsBamburi Cement reported a 94 per cent jump in first-half pretax profit from a year earlier to KES4.5bn (US$43m). According to Reuters, the company attributed the strong performance to growth in demand in its two main markets, Uganda and Kenya, cost cutting and gains in its dollar-based liquid assets due to a steep weakening of the Ugandan and Kenyan currencies. Turnover grew to KES19.3bn from KES17.3bn a year earlier on the back of infrastructure investments. Exports to other African marke... |
Kenya: ARM Cement to recover from US$4.6m 1H15 loss31 July 2015, Published under Cement NewsKenya's ARM Cement stooped to a first-half pretax loss of KES473.52m (US$4.6m), the firm said on Thursday, but said it expected to improve its performance in the 2H15. "In spite of the recent currency depreciation and increase in interest rates, the fundamentals for continued economic and construction sector growth remain strong," the firm said. "The company expects to significantly improve performance in the second half of the year through cost efficiencies arising from self-sufficiency i... |
ARM Cement ratings affirmed, Kenya09 June 2015, Published under Cement NewsGlobal Credit Ratings has today affirmed the national scale ratings assigned to Kenyan cement producer ARM Cement Ltd of A(KE) and A1(KE) in the long term and short term respectively, with the outlook accorded as Stable. Summary rating rationale Global Credit Ratings (GCR) has accorded the above credit rating(s) to ARM Cement (ARM) based on the following key criteria: ARM is becoming an increasingly important player in the East African cement industry, with its market share having grown... |