Cement News tagged under: Nigeria

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Dividend boost for Dangote shareholders

06 April 2012, Published under Cement News

Dangote Cement Plc announced it will pay a cash dividend of NGN19.37bn, or NGN1.25 per share, according to the company’s financial statement released on the Nigerian Stock Exchanged yesterday. The directors a recommended a bonus issue of one new share for every one already held. Company turnover was noted at NGN235.70bn compared with NGN202.57bn a year earlier, indicating a 16% growth. Profit before tax rose by 14.6% to NGN139.08bn from NGN121.28bn while retained profit surged from NGN...

Dangote Cement pretax profit advances, Nigeria

05 April 2012, Published under Cement News

Dangote Cement said its pre-tax profit rose to NGN118.28bn (US$750.70m) in 2011, compared with NGN117.84bn in the previous year. Nigeria's biggest capitalised company proposed a 1.25 naira per share dividend, plus one bonus share for each 10 held. Turnover rose marginally to NGN235.91bn, compared with NGN235.70bn in the previous year, the company results said.

Dangote to list on London Stock Exchange – report

02 April 2012, Published under Cement News

Nigeria-based cement producer Dangote Cement has mandated JP Morgan and Morgan Stanley to handle its London listing, according to a report in the Financial Times. Dangote Cement intends to float its stock on the London Stock Exchange in 2013 hoping to have made significant progress in its business expansion by next year, the paper reported. Dangote eyes a free float of 20 per cent and plans to use the proceeds to fund its swift business growth. The FT also cited Dangote Cement’s cha...

Lafarge WAPCO reports 74% YoY net profit rise, Nigeria

28 March 2012, Published under Cement News

Lafarge WAPCO’s net profit rose 74 per cent YoY to NGN8.51bn (US$397m) in the 12 months to December from NGN4.88bn a year earlier. The company said in a statement to the Nigerian Stock Exchange that sales advanced 43 per cent to NGN62.5bn. Lafarge WAPCO will pay a dividend of 75 kobo/share on 23 May, it said. The company took NGN45bn in loans to expand its plant in Ewekoro, western Nigerial which began production last September.

Dangote Cement to invest in Liberia

20 March 2012, Published under Cement News

Dangote cement is planning to invest over US$35m in the west African country of Liberia through its Dangote Cement Liberia subsidiary, Aliko Dangote, group president and CEO, signed a memorandum of understanding with the Liberia government at the head office of the National Port Authority on Friday. The Dangote Group has previously outlined plans to build a 0.5Mta import terminal in Monrovia which is the main commercial port facility in the country. Signing on behalf of the Liberian...

Dangote to begin Phase 2 of Ibese plant, Nigeria

01 March 2012, Published under Cement News

Dangote Group said it is set to commence the construction of the second phase of the 6Mta cement plant which forms part of the company's plan to become a major force in cement production through a number of projects across Africa. In a statement by the company published in the Vanguard, Alhaji Aliko Dangote, President/CEO, said:  “In a few weeks from here, we will start the construction of another 6Mta, which will take Ibese to 12Mta when completed. The new facility will be located 5km fro...

Dangote Cement – Africa market expansion

20 February 2012, Published under Cement News

Dangote Cement, Africa’s biggest producer of the building material, last week inaugurated its Ibese plant in southwestern Nigeria. The occasion marks a significant milestone for Nigeria, as the country moves closer to becoming a net exporting nation – something that was inconceivable even five years ago. Meanwhile, Dangote Cement continues to expand its domestic production base with major new announcements, and reasserts plans to become a major global force in the cement sector. The compa...

Nigeria: Dangote Cement asks Federal Government to spend more on infrastructure

15 February 2012, Published under Cement News

This week, Dangote Cement opened its new 6Mta Ibese cement plant and it is possible that before the end of this year Nigeria’s cement production might exceed local cement demand. Therefore, Dangote Cement has urged Nigeria’s government to invest more on infrastructure to enable it to absorb the anticipated increase in cement production. Mr Joseph Makoju, the Special Assistant to Alhaji Aliko Dangote on cement, made the call in an interview with the News Agency of Nigeria (NAN).??"With a...

Nigeria: AshakaCem to boost cement capacity by 0.3Mta

13 February 2012, Published under Cement News

Ashaka Cement Plc, a subsidiary of Lafarge Cement WAPCO Nigeria plc, says it is adding 300,000tpa in capacity and raising its total output potential to 1.3Mta. Alhaji Umaru Kwairanga, the company’s new chairman, said the company is being spurred by the expansion fever in the cement industry as most of the local producers are currently investing in capacity expansion to bridge the supply gap. “We have maintained our market share which is a little above 5% but with the growth of the mark...

Dangote inaugurates new Ibese cement plant, Nigeria

10 February 2012, Published under Cement News

Dangote Cement, opened a US$1bn cement plant on Thursday, raising its production capacity by more than 40 per cent. The new plant will produce 6Mta of cement, taking Dangote’s total production to 20.25Mta. The new facility is situated in Ibese, Ogun state, just outside Lagos. "We are working towards making the company one of the eight biggest producers of cement in the world," Dangote's billionaire owner Aliko Dangote said at the plant opening. "With the commissioning of the Ibese plant,...