Cement News tagged under: Lafarge Cement Zimbabwe

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Plant disruption drives Lafarge Zimbabwe to a loss

02 May 2022, Published under Cement News

Lafarge Cement Zimbabwe recorded a US$695m loss in 2021, compared to a US$5bn profit in the same period a year earlier. The fall is reportedly due to the negative impact of disruptions from the roof collapse at one of its cement mills and the adverse effect of the COVID-19 pandemic. This led to a 21 per cent decline in 2021’s volume uptake and a subsequent loss before tax of US$364m, versus a US$3.2bn profit in the previous year. The collapse of the mill plant halted operations between Oc...

Roof collapse at Lafarge Zimbabwe may impact performance

28 October 2021, Published under Cement News

Lafarge Cement Zimbabwe has announced that a roof collapse at one of its cement mills is expected to have a negative impact on the group’s overall business performance in the final quarter of 2021. "The necessary measures to restore the structures and restart the mills have commenced and are well under way," Faithful Sithole, the company’s secretary said in a statement following the incident earlier this month. Elsewhere, work on the installation of a new VRM at the facility is underway an...

Lafarge Cement Zimbabwe's CEO steps down

15 September 2021, Published under Cement News

Lafarge Cement Zimbabwe Ltd has announced the resignation of its CEO, Precious Murena, with effect from 9 September. Precious Murena joined the company in 2011 and became CEO in 2020. Amr Elmowafy Aly Mowafy, currently Chief Financial Officer, will assume the role of Acting Chief Executive Officer in the interim until the appointment of the substantive CEO.

Lafarge Cement Zimbabwe diversifies product range

15 January 2021, Published under Cement News

Lafarge Cement Zimbabwe (LafargeHolcim group) has completed crucial test runs on a multi-million-dollar dry mortar plant as it aims to turn into a multi-product operation. Lafarge has also entered the tile adhesives range and several allied products to complement the cement operation, which faces stiff competition from imports and stronger domestic peers. The firm has mostly relied on cement production at its decades-old operation in Harare. However, Lafarge said its dry mortar factory...

Lafarge Zimbabwe records improvement in 3Q20

18 November 2020, Published under Cement News

Lafarge Cement Zimbabwe has stated that the gradual easing of COVID-19 lockdown restrictions and a general improvement in the business environment has supported a rebound for the company in the third quarter of 2020. Sales volumes were seven per cent higher YoY in the 3Q20, driven by recovery in the individual home builder market. Record sales were also seen in July, which was the best result for the month since 2003. Demand for cement in the construction sector surged 34 per cent ahea...

Lafarge Cement Zimbabwe to open dry mortar mix plant in 2H20

02 October 2020, Published under Cement News

Lafarge Cement Zimbabwe is set to complete the installation of a US$2.2m dry mortar mix (DMX) plant during the second half of this year. The project is part of LafargeHolcim Group's US$25m recapitalisation of its Zimbabwean subsidiary, which was announced last year. "Currently, the DMX plant is being installed and is set to be completed in the 2H20, while the vertical cement mill supply contract was signed in August 2020," said the group's chairman, Kumbirai Kat. Lafarge has ...

Lafarge Cement Zimbabwe Ltd expects 30% decline in cement volumes in 2Q20

18 May 2020, Published under Cement News

Lafarge Cement Zimbabwe Ltd said business volumes had declined considerably due to low demand amid the COVID-19 pandemic. The LafargeHolcim subsidiary said the lockdown will have an inevitable impact on volumes for the second quarter in 2020. "It is projected that 2Q2020 volumes will decline by 30 per cent with the possibility of spill over risks impacting the second half of the year," the company said in its first quarter trading update for 2020. "The ripple effects of the lockdown and b...

Lafarge Zimbabwe sees cement demand drop 19%

29 November 2019, Published under Cement News

Lafarge Zimbabwe has seen a 19 per cent decline in cement consumption. Flora Chinhaire, Lafarge Zimbabwe Company Secrtary reported that hyper-inflation in the country had impacted demand. The Zimbabwe National Statistics Agency's inflation rates for September 2019 saw a 350 per cent rise YoY. “The operating environment in the second half of the year continues to be challenging for the business as the effects of hyperinflation become more evident due to cost inflation caused by devaluation...

Lafarge Zimbabwe obtains US$30m loan

09 May 2019, Published under Cement News

Lafarge Cement Zimbabwe has obtained a long-term US$30m facility from its parent company to enable settlement of outstanding obligations, according to The Zimbabwe Independent. The company has also acquired a US$4.4 short-term loan facility to cover working capital requirements.

Lafarge suffers loss on high tax payment

15 October 2018, Published under Cement News

Lafarge Cement Zimbabwe reported a loss of ZWD1174m (US$4.9m) for 1H18 due to a significant tax settlement. In 2017, the company disclosed a contingent liability of ZWD7.9m relating to a tax assessment for the 2009-13 period. Last June the matter was heard in the courts but the judgment is yet to be handed down. Income tax payments rose ZWD2.7m from ZWD26,260 during the period under review. “The company reviewed its risk assessment of the matter and booked a tax provision towards this ca...