Cement News tagged under: Kenya
Bamburi Cement 1H19 pretax profit declines23 August 2019, Published under Cement NewsBamburi Cement reported a turnover of KES18.663bn (US$181.18m) in the1H19, up 0.6 per cent when compared with KES18.556bn in the 1H18. The Kenya-based cement producer’s pretax profit fell to KES23m from KES722m in the first six months of 2018. The company’s profits were impacted by higher energy and logistics costs. However, profitability is expected to recover in the second half of the year. |
Kenya's cement exports decline 65% in 1H1922 August 2019, Published under Cement NewsKenya’s domestic cement exports have recorded a 65.3 per cent decline in value to KES362.28m (US$3.5m) in the first six months of the year, against KES1.04bn in the 1H18, according to preliminary cement exports statistics from the Central Bank of Kenya (CBK). The country’s cement exports have been declining since 2015, with the decline attributed to new grinding plants and brownfield grinding expansions in Uganda and Tanzania, reports Business Daily. "A lot of Kenyan cement was supplyi... |
East African Portland Cement withdraws dismissing workforce notice12 August 2019, Published under Cement NewsKenya’s East African Portland Cement Co (EAPCC) has withdrawn the notice about the plan to dismiss its workforce of 800, saying it would make a further statement about restructuring the company. "(The) notice has been withdrawn," Acting Managing Director, Stephen Nthei said in a letter addressed to the Kenya Chemical Workers Union and seen by Reuters. "A fresh replacement notice on the intended company restructuring and staff rationalisation shall be circulated in due course," the letter s... |
National Cement's acquisition of ARM blocked22 July 2019, Published under Cement NewsThe acquisition of ARM Cement for US$50m by National Cement has hit a legal block. ARM's former CEO and leading shareholder, Pradeep Paunrana, has challenged the sale in the High Court, saying that ARM Cement has been undervalued and that his consortium had offered a bid of US$65m for ARM Cement. The administrator of the sale, PricewaterhouseCoopers (PwC), claims that the US$65m bid was turned down becasue it was not accompanied by proof of funds among other reasons. Instead, PwC approved t... |
Kenya's Savannah Cement plans KES5bn grinding plant in major expansion plan15 July 2019, Published under Cement NewsSavannah Cement is currently undertaken a KES5bn expansion of its grinding plant at Kitengela, Kenya, according to the company’s MD, Ronald Ndegwa. The project sees the construction of a 1.2Mta grinding unit, which will double the company’s current installed capacity. Central to the plant will be an energy-efficient vertical grinding mill, supplied by FLSmidth. The new facility is expected to be commissioned by the end of the year. “At Savannah Cement, we are banking on the regional ma... |
Kenya reports decline in cement exports03 July 2019, Published under Cement NewsKenya has reportedly seen 9017t of cement exports in the first quarter of 2019, which represents a value of KES11m (US$106,940). This is a significant decline when compared to the 1Q17, which saw export volumes of 98,824t at a value of KES877m, according to the Kenya National Bureau of Statistics. |
Mombasa Cement orders mill from Gebr Pfeiffer02 July 2019, Published under Cement NewsKenya’s Mombasa Cement has awarded Gebr Pfeiffer with a contract for an MVR 3750 C-4 mill for its second kiln line project, which is currently under construction at Vipingo, Kenya. The unit has a drive power of 2900kW and will be able to produce 150tph of OPC. The MVR 3750 C-4 mill in Tororo, Uganda, which has an identical design to the new mill Mombasa Cement already operates two cement mills from the Germany-based grinding specialist. In January 2016 the producer signed a c... |
Kenya’s cement conundrum03 June 2019, Published under Cement NewsWhile recent times have seen the Kenya cement industry expand and new players arrive, the sector now faces a conundrum. While economic and construction forecasts indicate sound cement demand going forward, cement overcapacity has led to price pressures that show no sign of abating and which are affecting the bottom line of market players. A wave of industry consolidation in the short- to medium term cannot be ruled out. By Lisa Kimathi, Standard Investment Bank, Kenya. Despite forecas... |
EAPCC appoints Stephen Kyalo Nthei as acting MD28 May 2019, Published under Cement NewsEast African Portland Cement Co (EAPCC) has appointed Stephen Kyalo Nthei as acting managing director with effect from 20 May 2019. Mr Nthei, a Certified Public Accountant, joined the company in April 2007 and has served in various roles, including as Head of Internal Audit and Head of Financial Management. He now faces the challenge of improving the performance of the cash-strapped cement producer. EAPCC has a KES10.8bn (US$106.7m) debt and posted a KES1.26bn loss for the half-year to D... |
ARM Cement's Kenyan assets sold to National Cement22 May 2019, Published under Cement NewsThe Kenyan assets of ARM Cement have been sold to National Cement Co for US$50m, according to a statement by its administrators. The transaction is subject to regulatory approvals. The company was placed under administration last year by some of its creditors over what has been reported to be a US$190m debt. The news follows PriceWaterhouseCoopers starting preparations to dispose of ARM’s stake in South Africa’s Mafikeng Cement for KES300m (US$2.974m) in early April. |