Cement News tagged under: Nigeria
Dangote reverses price cut18 December 2014, Published under Cement NewsJust 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, Nigeria05 December 2014, Published under Cement NewsUnited 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 centre24 November 2014, Published under Cement NewsNigeria 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% YoY17 November 2014, Published under Cement NewsAshaka 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 Unicem11 November 2014, Published under Cement NewsLafarge 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 year07 November 2014, Published under Cement NewsDangote 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 NewsDangote 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... |
Lafarge03 November 2014, Published under Cement NewsLafarge 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... |
Ashaka Cement appoints new CFO, Nigeria03 November 2014, Published under Cement NewsAshaka Cement Plc announced Bruno Bayet as new Chief Finance Officer (CFO) of the company. In a statement to the Nigerian Stock Exchange (NSE), the Nigeria-based cement producer said Mr Bayet was appointed following the resignation of Yusuf Lamuwa. The position is effective as of 1 September 2014. |
Exports loom: Dangote has 29Mta of production in sight24 October 2014, Published under Cement NewsAlhaji Aliko Dangote, president of Dangote Group of Companies, said the company's cement production will hit 29Mt in Nigeria by December this year, while exports will be the next step. Speaking at the Obajana cement plant yesterday, the Dangote president said the 29Mt will be possible after the commencement of operations of the fourth phase of the Obajana cement plant. Mr Johnson Olaniyi, Dangote's regional sales director, said the company will soon start exporting the product to other ... |