Cement News tagged under: Tanzania

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ARM Cement to relinquish Tanzania assets

18 June 2018, Published under Cement News

ARM Cement will include KES854.6m (US$8.45m) of additional assets in Tanzania to sweeten the deal for buyers of the company’s non-cement business, according to The Citizen. The company reached an agreement to sell its fertiliser and mineral production businesses in Kenya to Swiss firm Omya and Pinner Heights Ltd (PHL), a company owned by its CEO, Pradeed Paunrana, for KES1.6bn. Its latest annual report ARM said that the buyers could also acquire its non-cement operations in Tanzania for f...

Dangote Cement Group's revenue up 16% in 1Q18

25 April 2018, Published under Cement News

Dangote Cement group released its 1Q18 results and reported revenue up 16.3 per cent to NGN242.1bn (US$672m). This gives Dangote a market share of approximately 66 per cent. Group EBITDA rose by 22.2 per cent to NGN 125.9bn, while Pan-African EBITDA increased by 77.3 per cent to NGN13.1bn. In the domestic market of Nigeria, Dangote sold 3.7Mt of cement in the 1Q18, up 5.3 per cent on 1Q17 after slightly lower sales in January and February. Of Nigeria’s total 1Q18 sales, nearly 211,000t was...

Tanzania Portland Cement's profits fall to TZS35.5bn in FY17

03 April 2018, Published under Cement News

Tanzania Portland Cement Company Ltd (TPCC), also known as Twiga Cement, recorded a net profit of TZS35.5bn (US$15.6m) last year, lower than TZS39.8bn (US$17.6m) recorded in 2016.

 According to unaudited financial results for the year ending December 2017, the fall of net profit was a result of increase income tax, decrease in price and sale costs.

 Income tax nearly doubled to TZS30bn in 2017 from TZS17.6bn in 2016, while costs of sale also went up to TZS184bn from TZS170bn in 2016. ...

Investment minister explains cement price rises in Tanzania

21 March 2018, Published under Cement News

Tanzania's Trade and Investment minister Charles Mwijage has clarified the reasons behind the recent rise in building materials in the country. He explained that the local increase in cement prices was partly caused by a breakdown at the Dangote factory in Mtwara. Mr Mwijage added that the breakdown would be fixed within six to seven days. "Dangote is a game changer. They use the market penetration strategy. The approach is to manufacture more and distribute large quantities of cement coun...

Tanzania Portland Cement given ultimatum over dust emissions

08 March 2018, Published under Cement News

Tanzania Portland Cement Company Ltd (TPCCL) has been issued a two-month ultimatum from the government to improve its dust control or face a ban. The Deputy Minister of State in the Vice President's Office (Union and Environment), Alphaxard Kangi Lugola, said local residents in Dar es Salaam faced health concerns due to the dust emissions from the plant. "Having listened from both sides, I am now convinced that the dust problem is real. I am, therefore giving a two-month ultimatum for the ...

Tanga Cement wins awards from the NBAA

12 December 2017, Published under Cement News

Tanga Cement has won an award for the ‘Best Presented Financial Statements’ from the National Board of Accountants and Auditors Board (NBAA), reports All Africa. This is the second year running that the company has received the award, which was presented at the NBAA gala dinner in Dar es Salaam. In addition, Tanga Cement won in the manufacturing category. "As a leading producer of cement, our most top priority is on quality. We put quality above the rest... and these awards can bear witness...

New 7Mta cement facility planned in Tanzania

06 December 2017, Published under Cement News

Tanzania is expected to see the construction of a new 7Mta cement plant as part of a two-phase US$2.35bn Chinese investment over 10 years that will also include the building of a coal-fired power station. Some US$1bn will be invested in a new cement works in the first five years of the initiative, according to the Tanzania Investment Centre (TIC). Sinoma and Hengya Cement’s new plant is expected to raise capacity in the country to 17.8Mt. Tanzania’s government expects to earn at least US...

Will ARM secure a firmer financial footing?

17 November 2017, Published under Cement News

The increasing trend of African sector mergers reflects the tightening economic pressures on African cement producers and their challenging prospects going forward. In the past week, ICR has reported on the merger between Unicem and Atlas Cement in Nigeria as well as CRH's interest in acquiring PPC Cement of South Africa. Meanwhile, the Kenyan and Tanzanian markets could also see a change in structure with ARM looking for new investors to stave off becoming the latest takeover target. ...

ARM Cement receives US$15m cash boost from shareholders

11 October 2017, Published under Cement News

ARM Cement will receive an additional US$15m cash injection from its key shareholders to help shore up its financial position as it searches for a strategic investor. Managing Director, Pradeep Paunrama, said part of the new money is aimed at helping ease the cement maker's tight cash position and will mainly be channelled to its Tanzanian unit as capital expenditure. "We are looking at injecting 15 million dollars. That's for the overall company but most of it is needed in Tanzania to ...

Tanzania is the latest price-pressured African market

22 September 2017, Published under Cement News

While South Africa's cement market is wrapped up in merger talk and oversupply, and Ghana's cement industry is crying out for protection against low imports, Tanzania is the latest African country to find that the bustle for greater market share is pushing prices down to unsustainable levels. Tanzania's price war Tanzanian cement producers are facing a sudden collapse in profitability as cement prices are falling in an increasingly competitive market. Heidelberg-owned Tanzania ...