Cement News tagged under: Lafarge Africa

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Lafarge Africa receive shareholders endorsement for merger

15 November 2017, Published under Cement News

Lafarge Africa have received the shareholders endorsement for a merger with Unicem and Atlas Cement Company Ltd, according to Nigerian newspaper The Guardian. "The merger is part of the asset consolidation we began in June 2014. It will solidify our market position in Nigeria particularly our presence in the South-South and South-East regions," said Michel Pucherchos, CEO of Lafarge Africa. Unicem has a cement production capacity of 5Mta at its Mfamosing plant, whilst Atlas has a capaci...

Ashaka Cement approves Lafarge Africa's acquisition deal

31 October 2017, Published under Cement News

Shareholders of Ashaka Cement Plc have approved the complete acquisition of the company by Lafarge Africa, in a deal with a cash consideration of NGN604.092m (US$16.8m) and total value of NGN5.97bn. The shareholders of Ashaka Cement agreed to allow Lafarge increase its stake in the company from 86.51 per cent to 99.99 per cent. However, the deal is subject to approval by the regulatory authorities, said Ashaka Cement. Meanwhile, Ashaka Cement Plc's energy strategy has helped it gr...

Lafarge Africa and COREN develop Nigeria's first concrete manual

11 August 2017, Published under Cement News

Lafarge Africa Plc is set to partner Council for the Regulation of Engineering in Nigeria (COREN) in the research and development of Nigeria’s first concrete mix design manual. The concrete mix design manual provides step-by-step guidance on the selection and proportioning of concrete ingredients such as cement, sand and aggregates, and then the mixing and placing of concrete. The manual came after exhaustive research and testing with concrete materials in different parts of the country....

Lafarge board approves merger with Unicem, Atlas Cement

07 August 2017, Published under Cement News

The board of directors of Lafarge Africa has approved the commencement of a merger with United Cement Company (Unicem) and Atlas Cement Co, according to a statement by the company published on the website of the Nigerian Stock Exchange (NSE). The company will now seek the approval of the Securities and Exchange Commission and all other relevant regulatory bodies to further the implementation of the merger.

Lafarge Africa to seek shareholders approval

17 May 2017, Published under Cement News

Lafarge Africa is to seek shareholders’ approval for a NGN140bn (US$443m) rights issue during its 58th Annual General Meeting to be held on 7 June 2017, the company has informed the Nigerian Stock Exchange. Also on the AGM agenda is a proposal to shareholders to approve the merger of subsidiary Unicem into Lafarge Africa. The proposals, according to the company, will strengthen its balance sheet and capital structure by reducing foreign currency exposure and optimising the Lafarge Afric...

Lafarge Africa seeks approval to raise NGN140bn

09 May 2017, Published under Cement News

Lafarge Africa plans to seek shareholders' approval next month to raise NGN140bn (US$445.86m) and also convert some loans into equity as part of the capital injection, the company said on Monday. The local business of Lafarge Holcim said it will seek approval to convert loans due from a shareholder to equity under the rights issue. (Source: Reuters)

Lafarge Africa revenue rises

26 April 2017, Published under Cement News

Lafarge Africa Plc announced a profit after tax of NGN5.2bn (US$17m) versus NGN1.9bn in the same period of last year driven by an increase in revenue, comparatively higher gross margin and higher investment and other income. Cement revenue grew by 61 per cent YoY, as relatively higher prices in both Nigeria and South Africa more than offset the lower sales volume experienced in both markets. In Nigeria volumes grew by six per cent compared to the final quarter of 2016 but were down by 12 ...

Lafarge Africa reports EBITDA FY16 of NGN29bn

23 March 2017, Published under Cement News

Lafarge Africa plc reports a significant increase in profit after tax in 4Q16 while net sales and operating EBITDA rose by 12 and 288 per cent, respectively in 4Q16. However, operating EBITDA for FY16 fell to NGN29bn (US$95m) from NGN67.3bn in 2015. Profit after tax in FY16 reached NGN16.9bn. Net debt was reduced to NGN108.3bn, below the NGN120bn announced, notably supported by capex control and solid cash flows.    Commenting on the company’s 2016 performance, Michel Puchercos, CEO of L...

Nigeria: fuel shortages hit cement output

16 February 2017, Published under Cement News

Shortages of oil and natural gas have caused cement producers in Nigeria to cut output, with some plants having to close temporarily, reports the Vanguard newspaper. The declining availability of natural gas, low-pour fuel oil and (LPFO), automotive gas oil (AGO) has led to a reduction in cement manufacturing as firms struggle to find sufficient fuel to support normal operations. Dangote, Nigeria’s largest producer, said that its fuel costs rose US$14.40/t in 2016 and that it was conve...

Nigeria: Lafarge Africa refinances with five-year bonds

23 September 2016, Published under Cement News

Lafarge Africa (LafargeHolcim Group) has raised NGN60bn (US$184m) by issuing three and five-year bonds through book building. The cement producer issued a three-year bond at 14.25 per cent to raise NGN26.38bn and sold a five-year bond at 14.75 per cent to raise NGN33.62bn, it said in a statement. Previously, in April, Lafarge Africa reported that it would refinance some dollar-denominated debt at subsidiary United Company of Nigeria (UNICEM), which it bought a year ago. The refinancing wou...