Cement News tagged under: Lafarge Africa

RSS feed

Lafarge Africa to supply Nigerian electricity grid

13 July 2015, Published under Cement News

Lafarge Africa said on Friday it had applied to Nigeria's energy regulator for a licence  to generate 260MW of electricity to supply to the country's grid. Nigerian Electricity Regulatory Commission (NERC) is licensing 'embedded power companies'  to try to end electricity shortages. Embedded power companies are not primarily power generating groups, but those which generate extra power from their operations and can then sell the surplus to the grid or distribution companies. Dangote is als...

Lafarge Africa partners PINE to rebuild North East Nigeria

23 June 2015, Published under Cement News

Lafarge Africa Plc has launched a partnership with the Presidential Initiative for the North East (PINE) on the rehabilitation and rebuilding of the region’s economy following the Boko Haram insurgency, pledging to invest NGN100bn (US$502.5m) for the expansion of its business in the region. He said the company had decided to partner with the Federal Government in rebuilding the ravaged North Eastern region as part of the company’s committment to rebuilding the region, saying: Guillaume...

Lafarge Africa 1Q revenue rises 15% YoY

07 May 2015, Published under Cement News

Lafarge Africa Plc reported revenue of NGN57bn (US$286.36m) in the first quarter of this year, 15 per cent higher than the corresponding period of 2014. Profit after tax was NGN8.6bn and NGN14.6bn of cash was generated from operations. In his statement, the Chairman, Board of Directors, Chief Olusegun Osunkeye CON, OFR, said: "our Company has delivered a good performance in spite of the general elections and market uncertainty. We remain highly committed to delivering a strong result i...

Ashaka board recommends Lafarge buy-out offer to minority shareholders

29 December 2014, Published under Cement News

The board of directors of Ashaka Cement has advised minority shareholders to accept the buy-out mandatory tender offer (MTO) by Lafarge Africa. Lafarge Africa has offered to buy out minority shareholders in Ashaka Cement following the merger of Lafarge's Nigerian and South Africa's businesses. Under the offer, Lafarge Africa is making an MTO to minority shareholders to buy 927 million shares, representing 41.39 per cent of the company. Shareholders who accept the offer will receive 57 ...

Lafarge in Ashaka buy-out offer

09 December 2014, Published under Cement News

Lafarge Africa has offered to buy out minority shareholders in Ashaka Cement Plc. The move follows the merger Lafarge Africa’s Nigerian and South Africa businesses, which received approval from shareholders in July. Lafarge Africa said on Monday that as part of the merger deal it had acquired a stake in Ashaka Cement of more than 30 per cent, the trigger point for making a full takeover bid under Nigeria's securities and takeover rules. Under the terms of the offer, shareholders who acc...

Nigeria: Lafarge develops 6th cement research centre

24 November 2014, Published under Cement News

Nigeria will soon be joining France, China, Brazil, India and Algeria as host to Lafarge’s development laboratory, which is targeted at developing new solutions and business opportunities to consumers, disclosed Gilles Rochard, Lafarge's prospective research and development (R&D) director, during a media tour of the group’s facilities in Lyon, France. “There will be one in Nigeria,” Rochard said, while explaining the group’s plan to launch the state-of-the-art research facility in Africa’s ...

Lafarge Africa appoints two directors

04 November 2014, Published under Cement News

Lafarge Africa Plc has appointed Adepeju Adebajo and Anders Kristiansson to the board of the company, as disclosed in a statement issued by the company to the Nigerian bourse. Lafarge Africa said Mrs Adebajo is currently managing director of the WAPCO Operations, prior to which she served as CEO and MD at Mouka Ltd. ‘’She was already the CEO, UTC Nigeria Plc, where she successfully turned the business around,’’ the company said. It added that Adebajo previously headed strategic planning, br...

Lafarge Africa 9M14 pretax profit drops 41.2%

30 October 2014, Published under Cement News

Lafarge Africa said its pretax profit for the first nine months of this year dropped by 41.2 per cent YoY to NGN38.08bn (US$231m). Revenue, however, rose to NGN159.39bn from NGN154.78bn previously, the company said in a filing with the Nigerian stock exchange.

Lafarge Africa completes consolidation process

17 September 2014, Published under Cement News

Lafarge Africa Plc, formerly Lafarge Cement Wapco Nigeria Plc, has announced the completion of its acquisition of the Lafarge group’s shareholdings in Lafarge South Africa Holdings and United Cement Co of Nigeria. Guillaume Roux, Lafarge Africa Group Chief Executive Officer, told reporters in Lagos yesterday that the company had received all shareholder and regulator approvals and met all the necessary requirements to form the merged company comprising Lafarge’s South Africa and Nigerian in...

Ashaka Cement stake changes hands

11 September 2014, Published under Cement News

Lafarge Group has sold 58.61 per cent of its stakes in Ashaka Cement Plc to Lafarge Africa Plc in a deal valued at NGN41bn (US$252m). Lafarge sold 1.3bn ordinary shares of its Ashaka Cement at NGN30.95 each. The sale follows the company's decision to merge its Nigerian and South African assets into a single unit, Lafarge Africa Plc. In creating Lafarge Africa, the group will sell the entirety of its 72.4 per cent stake in South African unit while relinquishing control of equity stake in...