Cement News tagged under: Nigeria

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CCNN reports 43% revenue increase for 9M18

19 December 2018, Published under Cement News

Nigeria’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 CCNN

30 November 2018, Published under Cement News

BUA 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 plant

09 November 2018, Published under Cement News

BUA 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 state

30 October 2018, Published under Cement News

The 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 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...