Cement News tagged under: Nigeria

RSS feed

Lafarge

06 January 2015, Published under Cement News

Lafarge Africa is offering to buy out the 41.39 per cent minority in Ashaka Cement. Lafarge Africa is obliged to make the offer as it has become the new majority shareholder in Ashaka Cement following the September merger of Lafarge Cement WAPCO Nigeria and Lafarge Industries South Africa. The offer is 57 Lafarge Africa shares for every 202 shares held plus NGN2 in cash and has been recommended by the board of Ashaka Cement. Separately, Lafarge Africa has agreed to purchase Flour Mills of...

Nigeria: Benue prices increase as Gboko stops production

30 December 2014, Published under Cement News

Operations at Dangote Cement's Gboko plant have been temporarily grounded leading to an increase in cement prices in the Nigerian state of Benue, according to local press. The Daily Times (Nigeria) reported on Saturday that commercial operations at the cement plant have been suspended over the last fortnight. The stoppage has led to prices in Benue state almost doubling from NGN1400 (US$7.67) to NGN2500 due to US$13.7, the report added. The shutdown is being attributed to two main fact...

Dangote reverses price cut

18 December 2014, Published under Cement News

Just over a month after initiating a dramatic price cut, Dangote Cement has raised prices again in Nigeria. The price of 42.5 grade cement has reportedly increased from NGN1150 (US$6.10) to NGN1567 (US$8.37, excluding VAT). This translates to a 35 per cent rise and taking the price higher than the level before the November cut. Analysts at Morgan Stanley comment that the original decision to drop prices appears to have been prompted by a build-up of stocks that Dangote was unable to se...

UNICEM orders Loesche mill for new Calabar line, Nigeria

05 December 2014, Published under Cement News

United Cement Company of Nigeria (UNICEM) has ordered the largest Loesche mill to-date, an LM 70.4+4 for its new line at the Calabar cement works. The Loesche LM 70.4+4 will be used at Unicem’s new Calabar line in Nigeria with an output of 370tph at 4700 Blaine. The delivery period is 14 months. The 4+4 concept follows Loesche mill types with 2+2 and 3+3 rollers. The 4+4 grinding concept is intended to allow high throughput capacity or it can run in 2+2 roller operation, generating a m...

Nigeria: Lafarge develops 6th cement research centre

24 November 2014, Published under Cement News

Nigeria will soon be joining France, China, Brazil, India and Algeria as host to Lafarge’s development laboratory, which is targeted at developing new solutions and business opportunities to consumers, disclosed Gilles Rochard, Lafarge's prospective research and development (R&D) director, during a media tour of the group’s facilities in Lyon, France. “There will be one in Nigeria,” Rochard said, while explaining the group’s plan to launch the state-of-the-art research facility in Africa’s ...

Ashaka nine-month net profit up 3% YoY

17 November 2014, Published under Cement News

Ashaka Cement Plc nine-month results for the period ended 30 September 2014 showed revenue growth of three per cent YoY to NGN17.3bn (US$100.9m) profit after tax rose 103 per cent YoY to NGN4.3bn. Nine months results for the period ended 30 September, 2014 showed revenue growth of three per cent YoY to NGN17.3bn profit after tax rose 103 per cent YoY to NGN4.3bn. On a quarterly basis, profit after tax was down 47 per cent QoQ to NGN847m due to a sharp fall in other income from NGN243m i...

Lafarge to acquire complete control of Unicem

11 November 2014, Published under Cement News

Lafarge Nigerian Cement Holdings said on Monday it had entered into an agreement with Flour Mills of Nigeria to purchase a 30 per cent stake in United Cement Company of Nigeria Ltd (Unicem). The deal will give Lafarge's Nigerian Cement Holdings complete control of the country's third-largest cement manufacturer, Reuters reported. "Pursuant to the agreement, a first 15 per cent tranche would be acquired in the first quarter of 2015, while the second 15 per cent tranche is scheduled to be ac...

Dangote Cement to reduce capex next year

07 November 2014, Published under Cement News

Dangote Cement expects to slow its capital spending next year to around US$700m, as it completes most of its African expansion projects, its chief executive told Reuters on Wednesday. Edwin Devakumar said Africa's biggest cement operation budgeted to spend around US$1.4bn this year, as it ramps up its cement works from Senegal to Zambia. "This year we may end up with a capex of close to US$1.4bn though we expect it to come down next year to around US$700m," Mr Devakumar told the news agenc...

Dangote Cement nine-month pretax profit up 1.5%

04 November 2014, Published under Cement News

Dangote Cement said on Monday its pretax profit for the nine months to September rose 1.5 per cent to NGN154.05bn (US$930.7m), compared with NGN151.72bn in the same period of last year. Revenue for the nine month period was NGN310.21bn versus NGN288.98bn in 9M13, the company said in a filing with the Nigerian Stock Exchange. Price cuts The company has recently slashed prices in the country, reportedly to its lowest level since 2005. The company's  32.5 cement grade now selling at NGN1000...

Lafarge

03 November 2014, Published under Cement News

Lafarge WAPCO Cement Nigeria, one of Lafarge's two main subsidiaries in Nigeria, has reported a 6.3 per cent increase in turnover to NGN74.27bn (US$492m) for the first nine months of 2013, giving rise to a pretax profit of NGN20.66bn. In the third quarter, the pretax profit jumped by some 65 per cent, though turnover was just five per cent ahead, as the three-week maintenance period that was taken in the comparative period last year and led to the import of clinker, did not re-occur this ti...