Cement News tagged under: Nigeria
CCNN to increase power generation capacity, Nigeria23 June 2015, Published under Cement NewsThe Cement Company of Northern Nigeria (CCNN) is to build an additional power plant to enable it to self-sufficiently supply its plant near Sokoto in the northwest of the African country. The company is teaming up with CBMI (China) to build a new plant to increase power generation capacity from the current 12MW to 16MW, according to Alhaji Sada Suleiman, Principal Manager, Corporate Affairs of CCNN. Suleiman disclosed the information, which was subsequently reported by local press, to ... |
Ashaka impacted by insurgency, lengthy rainy season16 June 2015, Published under Cement NewsNigeria-based Ashaka Cement Plc’s first-quarter profit fell by 53.54 per cent to NGN889.01m (US$4.5m) in the first three months of this year as insurgency disrupted operations and a lengthy rainy season weakened demand. Revenue over the Jan-March period declined by 29.84 per cent to NGN4.56bn. Ashaka Cement's operations have been disrupted by Boko Haram as the company is located in Gombe State in the north of the country. Cost of sales reduced by 11.74 per cent to NGN2.93bn in 2015 ... |
Dangote revenues boosted by new capacities18 May 2015, Published under Cement NewsDangote Cement reported a double-digit rise in first-quarter revenue, boosted by contributions from its new factories in Africa. Group cement sales volumes rose by 3.4 per cent compared to the same quarter of 2014, with volumes from Senegal and Sephaku Cement offsetting a decrease in volumes in Nigeria. Group revenues rose by 10.8 per cent to NGN114bn, mainly due to higher revenues in South Africa and Senegal. Nigerian cement volumes fell by 10.7 per cent during the first quarter but a... |
Ashaka 1Q pretax profit down 59%, Nigeria13 May 2015, Published under Cement NewsNigeria's Ashaka Cement first-quarter pretax profit fell 58.8 per cent to NGN1.16bn (US$5.8m) from a year ago, the company said on Monday. The decline was partly attributed to a fall in sales and a contraction in gross margin. Revenue fell to NGN4.56bn during the three months to end-March, down from NGN6.5bn in the previous year, the local unit of Lafarge Cement said in a stock exchange filing. |
FLSmidth reaches agreement to exit O&M contracts in Nigeria07 May 2015, Published under Cement NewsIn November 2013 FLSmidth signed a number of contracts with the Nigerian cement producer Dangote Cement PLC for operation and maintenance of production lines at their Ibese and Obajana cement plants in Nigeria for a period of five years. Due to changed market conditions, Dangote Cement and FLSmidth have reached an agreement to end the operation and maintenance collaboration on the two plants, the Danish equipment supplier said in a statement yesterday. The discontinuation of the O&M contra... |
Ashaka Cement pretax profit rises 84.5%01 April 2015, Published under Cement NewsNigeria's Ashaka Cement 2014 pretax profit rose 84.5 per cent to NGN5.25bn (US$26m) from year ago, the company said on Tuesday. Revenue declined by 2.58 per cent during the period to NGN21.13bn, the unit of Lafarge Africa said in a statement. |
Dangote Cement pretax profit down 3.2%27 March 2015, Published under Cement NewsDangote Cement's pretax profit fell 3.2 per cent to NGN184.68bn (US$928m) last year due to a gas shortage and the impact of wet weather on construction activity, the company said on Thursday. The company said sales volumes in its domestic market of Nigeria fell 3.2 per cent to 12.87Mt, weaker than the decline in the overall market of 0.8 per cent to 21Mt. Full-year revenues for 2014 climbed to NGN391.63bn during the 12-month period to 31 December, up from NGN386.17bn the previous year, ... |
AshakaCem Plc appoints new chairman, Nigeria20 March 2015, Published under Cement NewsAshakaCem Plc, a subsidiary of Lafarge Africa Plc, has appointed Malam Suleiman Yahyah as its chairman. The appointment followed the expiration of the tenure of Alhaji Umaru Kwairanga, who has stepped down. The cement manufacturing company in its notice to the Nigeria Stock Exchange (NSE), stated that “the board of directors has appointed Malam Suleiman Yahyah, OON, as the Board Chairman with effect from 12th March 2015.” The board also appointed as non-executive directors of the ... |
Lafarge increases stake in Unicem09 March 2015, Published under Cement NewsLafarge Africa Plc has notified the Nigerian Stock Exchange that Nigerian Cement Holdings BV (NCH), a 50 per cent affiliate of Lafarge Africa, has completed the acquisition of a 15 per cent stake in Unicem from FMN Cement Industries Limited, a wholly owned subsidiary of Flour Mills of Nigeria Plc . NCH had a 70 per cent share interest in Unicem and following the acquisition, has now increased its stake to 85 per cent. A further 15 per cent tranche is expected to be acquired by NCH on or... |
Dangote Cement03 February 2015, Published under Cement NewsNigeria’s construction industry is urging Dangote Cement to put into effect the promised cement price cuts, as announced in November last year. Despite the company revealing plans to reduce cement prices by as much as 41 per cent to NGN1350/bag, ex-works prices have now leapt to around NGN2200/bag. The new VAT-exclusive prices will see distributors pay NGN1645-1655/bag for ex-works orders and NGN1745 for orders delivered from the company’s Ibese plant. Ex-works prices from Ibolo hovered arou... |