Cement News tagged under: Tanzania
Will ARM secure a firmer financial footing?17 November 2017, Published under Cement NewsThe 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 shareholders11 October 2017, Published under Cement NewsARM 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 market22 September 2017, Published under Cement NewsWhile 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 ... |
Tanzania Portland Cement Co posts 45.6% profit fall in 1H1701 September 2017, Published under Cement NewsTanzania Portland Cement Company (TPCC), part of the HeidelbergCement group, posted a 45.6 per cent drop in first-half profit after increased competition forced down local cement prices. TPCC reported net profit of TZS12.35bn (U$5.5m), down from TZS22.71bn a year ago. The producer's revenue of TZS119bn was down 16 per cent YoY, Chairman Hakan Gurdal said in a statement. Mr Gurdal added that the decline was mainly because of the lower prices in an increasingly competitive market. Mr Gu... |
Dangote Cement to operate gas power plant in Tanzania by September11 August 2017, Published under Cement NewsDangote Cement plans is to set up a gas-powered plant in Tanzania by September to reduce its operational costs and its reliance on diesel. Dangote annunced that it has invested US$90m in the construction of the coal/gas-fired power station to be fed with natural gas at a negotiated rate by the Tanzania Petroleum Development Corporation. Dangote stated that the Mtwara plant increased volumes by more than 64 per cent to nearly 0.388Mt in its 1H17 results, pushing the six months sales to mo... |
Sika opens new production facility in Tanzania07 June 2017, Published under Cement NewsSika is setting up production in Tanzania and is opening a concrete admixtures factory. Sika is the first company to manufacture these products locally. Plans are already being made to add a mortar products manufacturing line. The company's aim in establishing a local supply chain in the East African state, which has a population of 50m, is to benefit from planned investments in infrastructure. Paul Schuler, Regional Manager EMEA and designated CEO: "By establishing a new concrete admixtu... |
Tanga confident on improving market conditions09 May 2017, Published under Cement NewsTanga Cement has said it is upbeat that the market challenges faced last year are coming to an end thanks to a growing domestic economy and the launch of mega-infrastructure projects. The company's Board Chairman, Lawrence Masha, told the 'Daily News' at the sidelines of the company’s AGM that it is optimistic that cement sales would rebound after a slowdown caused by intense competition. Last year, revenue dropped by 20 per cent in 2016 to to TZS166.9bn (US$74.6m) due to heightene... |
Mbeya signs cooperation agreement Kibo Mining25 April 2017, Published under Cement NewsTanzania-based Mbeya Cement Co, a LafargeHolcim subsidiary, has signed a cooperation agreement with coal development company Kibo Mining which covers a range of potential areas of collaboration including the supply of coal and flyash to Mbeya. Kibo Mining holds a thermal coal deposit at Mbeya and is developing a 250-350MW mine mouth thermal power station, the Mbeya Coal to Power Project, previously called the Rukwa Coal to Power Project. In a statement, Kibo Mining said that together w... |
Tanzania: Moshi plant ordered to halt operations on pollution concerns29 March 2017, Published under Cement NewsMoshi cement factory has been ordered to halt operations over environmental pollution concerns, with the Tanzanian government demanding the implementation of the National Environment Management Council’s (NEMC’s) recommendations. January Makamba, minister of state in the Vice President’s office, Union and Environment, ordered the immediate closure of the factory, stating: "This factory should from effective today halt operations pending implementation of NEMC recommendations on environment... |
China National Building Materials (CNBM)28 March 2017, Published under Cement NewsChina National Building Materials (CNBM) has been in talks with the President of Tanzania regarding the construction by Sinoma International Engineering Co of a new cement plant in the country. The proposed works is to be located at the coastal town of Tanga with 30 per cent of its output destined for the domestic market, while the remaining 70 per cent will be exported to neighbouring markets such as the Democratic Republic of Congo (DRC), Uganda and Sudan. The final production capacity ... |