Cement News tagged under: Nigeria

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Dangote reports 15% rise in 9M EBITDA

23 October 2018, Published under Cement News

Dangote Cement announced a 13.5 per cent rise in group revenues to NGN685.29bn (US$1.88bn) for 9M18 as sales volumes advanced 7.6 per cent to nearly 17.8Mt. Group EBITDA rose 14.6 per cent YoY to NGN337.3bn while EBITDA margins advanced from 48.8 per cent in 9M17 to 49.2 per cent in 9M18. Net profit advanced to NGN158.28bn in 9M18 from NGN154.122bn in the year-ago period. Nigeria In Nigeria sales volumes increased 11.7 per cent to nearly 10.8Mt on the back of a domestic market recovery....

Dangote acquisition trail could strengthen group's African network

12 October 2018, Published under Cement News

Dangote Cement's Chairman and CEO, Aliko Dangote, caught our attention this week with his announcement that Dangote Cement will begin preparations for the company's London public listing in 2019 , probably after Nigeria's general elections. Dangote Cement has previously considered an Initial Public Offering (IPO) in London, taking steps in this direction as far back as in 2010 . While the company has been one of the fastest-growing cement producers in Africa, this latest development sign...

Lafarge Africa receives shareholder approval for NGN90bn rights issue

27 September 2018, Published under Cement News

Lafarge Africa has received shareholder approval to raise NGN90bn (US$246.93m) of capital through a rights issue and to restructure its short-term shareholder loan. “The additional capital to be raised will further help to deleverage the company’s balance sheet and provide head room for the expansion of our business,” said Mobolaji Balogun, chairman of the board, Lafarge Africa. Michel Puchercos, CEO, stated that the company’s refinancing plan is aimed at preparing for future developme...

Dangote Cement

26 September 2018, Published under Cement News

Dangote Cement has welcomed Brice Houeto as its new country director in Ghana. He succeeds Tor Nygard who has retired after two and a half years at the helm. Mr Houeto joins Dangote from Lafarge Cement Guinea where he was country managing director. According to the new country director, his focus will be on increasing Dangote Cement’s market share in Ghana, investing in expanding its operations and introducing new services. “The supply chain market requires the need for product research a...

Dangote launches Blocmaster Cement

19 September 2018, Published under Cement News

Dangote has unveiled its new BlocMaster Cement, describing it as extra strong and ideal for block moulding in Nigeria. According to Joe Makoju, group managing director at Dangote Cement, the new product is the result of years of deep research, adding that it had been tested and approved by builders throughout Nigeria. Strong and affordable, BlocMaster is also rapid setting making it particularly useful during the rainy season. “This is a new era. This is a new quality. This is a product of r...

BUA Group plans new Ebonyi plant

07 September 2018, Published under Cement News

Nigeria's BUA Group Ltd has announced plans to set up a plant in Okpoto, Ebonyi State. The company plans to use the large deposits of limestone and coal in the state and surrounding area to power and supply the facility. Alongside the demand for cement in the state, the facility is also expected to serve the southeastern market of the country. "We want to set up a cement plant here so that the south-eastern markets will benefit," said Kabiru Rabiu, CEO. David Umahi, governor of Ebonyi, n...

Lafarge Africa Plc orders Loesche coal mill

03 September 2018, Published under Cement News

Lafarge Africa Plc  (LafargeHolcim) is erecting a new Loesche coal mill at its Ewekoro cement plant in Nigeria. The new mill will grind local lignite and petcoke. The mill has a grinding capacity of 23tph at 23 per cent R90μm for coal and 16tph at three per cent R90μm. The scope of services include engineering, core mill components and the classifier with central feed, rotary gate and the mill gearbox with a nominal power of 450kW.

Two Nigerian producers to raise capital funding of NGN250bn

31 August 2018, Published under Cement News

Nigerian cement producers Dangote Cement Plc and Lafarge Africa Cement Plc have launched new capital raisers which are scheduled to conclude in 4Q18. Dangote Cement is raising NGN150bn (US$413.8m) in debt capital and has already obtained NGN50bn of this new debt capital. According to the company, the net proceeds will be used to finance capital expenditure, working capital and corporate purposes. Meanwhile, Lafarge Africa's shareholders have approved a resolution to raise more than NGN...

CCNN appoints new managing director

15 August 2018, Published under Cement News

Cement Company of Northern Nigeria has named Yusuf Binji as its new managing director, with effect from 1 September 2018. He succeeds Ibrahim Aminu who joins the larger BUA group as an executive director. Mr Binji is currently managing director of Obu Cement Co, a subsidiary of BUA Cement in Okpella, Edo state, Nigeria –  a position he has heard since February 2017. “As managing director at BUA Obu Cement, he was responsible for overseeing extensive growth in production volumes and sales, ...

CCNN appoints new independent directors

01 August 2018, Published under Cement News

The Cement Co of Northern Nigeria (CCNN) has announced the appointment of Senator Khairat Abdulrazaq-Gwadabe and Shehu Abubakar as independent directors of the company. Effective from 12 July, the appointment also includes Abbas Ahmad Gandi as a non-executive director. Abdul Samad Rabiu, chairman of the CCNN board of directors, has reportedly stated that the installation of new board members is in line with the company’s commitment to the best corporate governance practices, according to T...