Cement News tagged under: Kenya
GCR affirms ARM Cement's ratings, outlook Stable30 June 2014, Published under Cement NewsGlobal Credit Ratings (GCR) has today affirmed the national scale ratings assigned to ARM Cement Ltd of A(KE) and A1(KE) in the long term and short term respectively. The outlook is Stable. GCR said the Kenyan cement producer's well-entrenched position in the East African cement industry has been augmented by an aggressive roll-out of capacity in the past five years. With the completion of the Tanga plant in Tanzania later this year, ARM will secure clinker sufficiency in FY14/FY15, which... |
Bamburi Cement names new CEO26 June 2014, Published under Cement NewsBamburi Cement, part of the Lafarge group, has announced the appointment of Bruno Pescheux as chief executive officer and a member of the Board of Directors, effective 21 July 2014. Mr Pescheux previously held the position of CEO of Lafarge Syria. He takes over from Hussein Mansi who has been Bamburi Cement’s CEO over the past five years. |
Lafarge denies claims of market dominance, Kenya20 May 2014, Published under Cement NewsLafarge has denied claims by Kenya’s antitrust authority that the cement producer may be flouting domestic competition rules and said it wants to work with the government to boost returns in the nation’s cement industry, reports Bloomberg. The Competition Authority of Kenya is probing the company’s influence on prices through its 59 per cent stake in Bamburi Cement Co and 42 per cent interest in East Africa Portland Cement Co (EAPCC), the nation’s largest and third-biggest cement producers... |
Plans for new Kenyan plant in the pipeline19 May 2014, Published under Cement NewsConstruction materials supplier Karsan Ramji & Sons plan to set up a new cement production facility in Kenya. The KES426m (US$4.9m) plant is expected to produce an average of 700tpd for sale both locally and within the regional market, according to The East African. Karsan’s factory will be located in Athi River near other established cement producers ARM Cement Ltd, Savanna Cement Ltd, East Africa Portland Cement Company and Bamburi Cement Ltd. Envasses Environmental Consultants Ltd said ... |
Kenya: Lafarge under competition probe16 May 2014, Published under Cement NewsKenya’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 ... |
EAPCC issues profit warning16 May 2014, Published under Cement NewsEast African Portland Cement Co Ltd (EAPCC) expects profit for its full year through June to fall by more than 25 per cent, it said on Friday. The company blamed rising competition in the sector and high staff costs for the forecast. "These challenges have had an adverse effect on sales revenues whilst staff and other unavoidable costs were incurred," EAPCC said in a statement. |
Nigeria: Dangote to stabilise cement price08 May 2014, Published under Cement NewsSpeaking to shareholders at the 5th 2013 Annual General Meeting Aliko Dangote, Chairman of Dangote Cement Plc, pledged that his company would intensify direct-to-consumer deliveries to help stabilise cement prices in Nigeria. Aliko Dangote admitted that most input costs into cement production have risen to an "astronomically high" level, but that his organisation is committed to reducing prices. Dangote sold 13.3Mt of cement in Nigeria within the financial year representing an increase of 2... |
Tande's term as MD of East African Portland Cement extended, Kenya25 April 2014, Published under Cement NewsKephar Tande's term as managing director of East African Portland Cement Co (EAPCC) has been renewed for a further three years. Industrialization and Enterprise Development Cabinet Secretary Adan Mohamed confirmed the extension of Tande’s tenure, effective from November 2013. "I wish to thank the cabinet secretary and president, Uhuru Kenyatta, for the re-appointment. I am committed to fully implementing the strategy that the company has embarked on to raise its market share and to ensure... |
Savannah Cement plans new clinker line, Kenya22 April 2014, Published under Cement NewsSavannah Cement, the newest entry in the Kenyan market, plans to invest US$200m in the construction of a new clinker line to boost regional sales. A joint venture between Kenyan and Chinese investors, Savannah Cement currently operates a grinding plant at Athi River. The new plant has five packing lines and is capable of producing 1.5Mta of cement. Board chairman Benson Ndeta, announced on Thursday that the company hopes to be a major competitor in the regional market in the supply of ... |
Kenya: ARM Cement reports 12% rise in pretax profit01 April 2014, Published under Cement NewsKenya’s second largest cement producer ARM Cement saw a 12 per cent rise in full year pretax profit to KES2bn (US$23.17m). Earnings per share increased to KES2.73 from KES2.52, the company said in a statement. |