Cement News tagged under: Lafarge Africa
Nigeria: Lafarge Africa refinances with five-year bonds23 September 2016, Published under Cement NewsLafarge 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... |
Nigeria: Lafarge Africa complains of inadequate gas supply11 August 2016, Published under Cement NewsManagement at Lafarge Africa’s plants at Ewekoro and Sagamu, Ogun State, have voiced their concerns over the inadequate gas supply to their operations. Production managers at the two plants, Segun Shoyoye and Hannes Diedericks, disclosed that their plants had to cease production for the past six weeks over the matter. Mr Shoyoye said, "The twin problems of non-availability of gas and foreign exchange are impeding full capacity production in the manufacturing industry. We can say we have s... |
Lafarge Africa in 2Q1626 July 2016, Published under Cement NewsLafarge Africa Plc has released its financial results for 2Q16, reporting a total revenue of NGN107bn (US$344.9m). Cost of sales stood at NGN92.2bn (US$297.3m), down from NGN98bn (US$315.9m) in the same period last year and administrative/distribution and other expenses dropped to NGN12.2bn (US$39.3m) from NGN4bn (US$45.1m). The company’s revenue of NGN30.8bn (US$99.3m) fell by NGN28.5bn (US$91.9m) due to foreign exchange loss after the naira’s devaluation. The company also suffered diminish... |
Nigeria: Lafarge Africa launches logistics academy for truck drivers18 July 2016, Published under Cement NewsLafarge Africa Plc has established a logistics academy for truck drivers in an attempt to lower the level of reckless driving in Nigeria. According to the company the academy will educate drivers on the fundamentals of safety and fleet management. Michael Puchercos, group managing director, explained that the academy follows up on a road safety project also established by the company to ensure good performance from its drivers. On behalf of Mr Puchercos, Fidelia Osime, director of organis... |
Lafarge Africa posts US$9.5m quarterly loss as price squeeze bites29 April 2016, Published under Cement NewsNigerian-based Lafarge Africa has seen revenues fall by 29 per cent to NGN52.4bn (US$263m) in the first quarter of 2016, leading the company to record an after-tax loss of NGN1.9bn (US$9.5m). According to Bloomberg, Lafarge – which did not comment on the results – had said late last year that pressure on prices and a market slowdown were presenting challenging trading conditions in Nigeria and other African countries. Lanre Buluro, an equity broker and analyst with Primera Africa Secur... |
Umar appointed new MD of AshakaCem25 April 2016, Published under Cement NewsAshakaCem, a subsidiary of Lafarge Africa and member of the LafargeHolcim group, has appointed Alhaji Rabiu Abdullahi Umar as its new Managing Director. In a statement released on the Nigerian Stock Exchange, AshakaCem said Umar was appointed to succeed Leonard Palka, a Polish national, who has resigned from the company. Based in Gombe State, AshakaCem is one of the four cement companies controlled by Lafarge Africa in Nigeria. Formerly known as Lafarge Cement WAPCO Nigeria Plc, the corpo... |
Nigeria: Lafarge Africa sees FY15 growth of 2.5%20 April 2016, Published under Cement NewsLafarge Africa recently released its FY15 financial results, which showed a 2.5 per cent YoY growth in revenue and a 20 per cent decline in profit after tax, PAT, over the same period in 2014, reports All Africa. The company managed to grow its top-line amid the challenging market and economic headwinds it faced during the year, largely driven by the growth in its ready-mix sales and its southwest operations in Nigeria. Its ready-mix operations in Nigeria continued to show great strength wi... |
Lafarge Africa Plc profit slips 6.5%27 October 2015, Published under Cement NewsLafarge Africa Plc has reported a profit after tax of NGN29bn (US$145.7m) for the nine months ended 31 September 2015, compared with NGN31bn recorded in the corresponding of 2014. The company said Nigerian unit Ashaka Cement's numbers were affected by the unrest during the start of the year, explaining that Ashaka has since returned to normal operations. It added that industrial performance was strong, with stable plant operations across the board. The South African business continues to b... |
Lafarge Nigeria unit takes control of UNICEM06 October 2015, Published under Cement NewsAn affiliate of Lafarge Africa has completed a 100 per cent acquisition of Nigeria's third-largest cement manufacturer, United Cement Company of Nigeria (UNICEM). Lafarge said its affiliate Nigerian Cement Holdings (NCH), owned a 70 per cent equity in UNICEM before agreeing a deal last November to buy the remaining 30 per cent stake from Flour Mills, Reuters reported. Unicem, which is based at Mfamosing, close to Calabar, southeastern Nigeria. Unicem is building a 2.5Mta line which will br... |
Nigeria: BUA Cement signs US$600m expansion deal with Sinoma07 September 2015, Published under Cement NewsBUA Group has signed US$600m worth of contracts with China's Sinoma International Engineering Co to double capacity at its Obu cement plant. The plant currently produces 3.5Mta, but by the end of 2017 capacity will rise to 7Mta. BUA's executive chairman, Abdulsamad Rabiu, said at the signing ceremony, “BUA has less than 10 per cent of market share now, after expansion we should go to about 20 per cent.” The Nigerian cement market is currently controlled by Dangote Cement, which has a 70... |