Cement News tagged under: Nigeria
Olesegun Olusanya resigns from Dangote Cement board05 February 2019, Published under Cement NewsOlusegun Olusanya has resigned form Dangote Cement Plc's Board of Directors. The cement maker disclosed on Monday Mr Olusanya informed the board that he would pursue other opportunities. No reason was given in a statement issued by the leading cement manufacturer for the decision of Mr Olusanya. "This follows his decision to voluntarily resign," the statement signed by the company secretary, Mr Mahmud Kazaure, stated. Mr Olusanya had served on Dangote's Board of Directors since 2010. |
Dangote Cement31 January 2019, Published under Cement NewsDangote has placed several orders with the Aumund Group for its projects in Nigeria and Senegal. For the Obajana Line 5 and Okpella plants in Nigeria, both 6000tpd, Aumund is supplying a total of six belt bucket elevators and four pan conveyors. In addition, Schade Lagertechnik, also part of the Aumund Group, will supply two stackers, two portal reclaimers and additional stockyard equipment. Aumund Beijing has also received orders from Dangote for the cement producer’s Apapa project and its ... |
Aumund wins Sinoma orders in Nigeria and Senegal17 January 2019, Published under Cement NewsAumund Group has received several new orders from Sinoma Nanjing NDI for cement plants in Nigeria and Senegal, while Schade Lagertechnik, part of the Aumund group, has received an order for several pieces of equipment for two Dangote Cement projects in Nigeria. For each of Dangote's two 6000tpd plants, Obajana Line 5 and Okpella, Aumund will supply three belt bucket elevators with a capacity of 660tph to convey raw meal, and to feed raw meal to the preheater towers at 520tph. Three furthe... |
CCNN reports 43% revenue increase for 9M1819 December 2018, Published under Cement NewsNigeria’s CCNN has reported a 43.2 per cent YoY increase in revenue for the nine months ended 30 September 2018, rising to NGN19.57bn (US$53.9m) from NGN13.63bn in the year-ago period. Profit after tax rose 97 per cent to NGN4.01bn from NGN2.04bn. In the 3Q18 revenue advanced 46.3 per cent to NGN7.49bn, compared with NGN5.12bn seen in the 3Q17. Post-tax profit was up 39.7 per cent YoY at NGN1.41bn from NGN1.01bn. |
Kalambaina Cement to merge with CCNN30 November 2018, Published under Cement NewsBUA Group’s Kalambaina Cement Co has announced it received shareholder approval for a merger with the Cement Company of Northern Nigeria (CCNN). Abdul Samad Rabiu, chairman of the company, has stated that the deal would involve a high technical and complex infusion of the two companies. "This deal signposts shareholder confidence in the value proposition of the CCNN-Kalambaina merger and we are certain that the new entity can compete effectively in the cement industry in Nigeria whilst main... |
BUA Cement announces completion Okpella plant09 November 2018, Published under Cement NewsBUA Cement has announced the completion of its new 3Mta cement plant in Okpella, Edo state, Nigeria. Its output is expected to be delivered to the southern and southeastern Nigerian markets, enabling the company to gain a stronger foothold in these areas. The Okpella facility will be able to be fuelled with gas and heavy oils. The company is expected to announce a date for the formal inauguration of the works, of which the completion comes less than six months after the inauguration of ... |
New plant planned for Adamawa state30 October 2018, Published under Cement NewsThe Adamawa Government in Nigeria has signed an agreement with Dangote Group and three foreign firms to establish cement factories in the state. Shanti Sashi, the state Commissioner for Mineral Resources, said the state government is on the verge of getting all necessary approvals at the federal level for the investor to assemble the factory. She said that the company decided to establish its factory in the state due to the abundant limestone, clay and gypsum deposits in the region. "We ha... |
Dangote reports 15% rise in 9M EBITDA23 October 2018, Published under Cement NewsDangote 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 network12 October 2018, Published under Cement NewsDangote 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 issue27 September 2018, Published under Cement NewsLafarge 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... |