Cement News tagged under: nigeria
BUA Cement sees 12% increase in net profit in 202228 February 2023, Published under Cement NewsNigeria-based BUA Cement reported a 40.3 per cent increase in revenues to NGN360,989m (US$7783.4m) in 2022 when compared with a revenue of NGN257,327m in 2021. Profit before tax advanced 16.8 per cent to NGN120,154m in 2022 from NGN102,873m in the previous year while profit after tax was up 12.1 per cent to NGN101,011m in 2022 from NGN90,079m. |
Dangote Cement names new CEO27 February 2023, Published under Cement NewsDangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director. Mr Pathak will replace Frenchman Michel Puchercos, who will leave at the end of February after three years at the helm. The new CEO’s tenure begins on 1 March. Mr Pathak led India’s Birla Corp before he became the chief operating officer and deputy managing director of Dangote Cement. He formerly served at Mumbai-based Associated Cement Co Ltd as regional CEO and has experience spanning... |
Dangote announces new 6Mta Nigerian plant02 February 2023, Published under Cement NewsDangote Industries Ltd is building a new integrated 6Mta cement plant in Itori, Ogun state, Nigeria. According to press reports, the plant will be supplied by Sinoma International Engineering and will take Dangote’s Nigerian cement production capacity to 41.25Mta and total African capacity to 57.6Mta. Due to be completed in the first half of 2025, the new facility will have its own captive power plant, and two 6000tpd clinker production lines giving a total daily clinker production cap... |
Dangote donates bags for agro-waste and alternative fuel payback30 January 2023, Published under Cement NewsDangote Cement’s Ibese plant has donated 25,000 of 100kg capacity bags for management of agro-waste in communities across Nigeria. Being burned or left rotten on the fields by farmers once, agriculture waste, known as agro-waste, has turned into the best alternative fuel for industries. As an eco-friendly initiative, industries have started using agro-waste briquettes along with coal or other non-renewable sources of fuel. Green activists saw increased usage of agro-waste for indus... |
Dangote Cement appoints new CEO20 January 2023, Published under Cement NewsDangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director. Mr Pathak will replace Frenchman Michel Puchercos, who will leave his position at the end of February after three years at as CEO. Arvind Pathak starts in his new position from 1 March. Mr Pathak led India’s Birla Corp, a cement producer, before he became the chief operating officer and deputy managing director of Dangote Cement. He formerly served at Mumbai-based Associated Cement Co L... |
Nigeria: challenges abound23 December 2022, Published under Cement NewsDespite the economy being challenged by the COVID-19 pandemic, Nigerian cement demand remained robust in 2020 and 2021. While the country’s longer-term potential remains intact, pressure is building in the short- to mid-term amid slower demand growth, excess capacity and an increasingly difficult operating environment. By Moses Njuguna, EFG Hermes, Nigeria. The Nigerian cement industry has been affected in 2022 by stubborn macro headwinds at play Nigeria’s 2023-25 Medium Term Ex... |
Dangote Cement receives CDP rating upgrade16 December 2022, Published under Cement NewsDangote Cement Plc has had its CDP rating raised from B- to B in recognition of the cement producer’s commitment to climate change. The rating upgrade indicates that Dangote Cement has addressed the environmental impact of its business and ensures good environmental management. This upgrade demonstrates the continued efforts made by the company to increase its levels of non-financial disclosure and improve its sustainability reporting, said Dangote Cement in a statement. This year, for... |
Quarterly results propped up by steep price increases25 November 2022, Published under Cement NewsThe latest quarterly results reveal that cement producers are increasingly turning to price rises to offset the ongoing jump in energy costs, while they struggle to maintain margins. In addition to price increases, companies are reviewing their energy portfolios, fuel types and accelerating the shift to alternative fuels. In Indonesia PT Indocement saw its energy costs reach 50 per cent of total production cost in the third quarter of 2022, prompting the company to implement three price... |
Dangote wins three FMDQ awards24 November 2022, Published under Cement NewsDangote Industries Ltd and Dangote Cement Plc have picked up three accolades at the FMDQ Gold Awards - ‘Largest Corporate Bond Lodgment on FMDG’, ’Most Trusted Brand of the Year’ and ‘Most Outstanding Conglomerate in Environmental Sustainability.’ According to FMDQ, the awards recognise excellence in the fixed incomes, currencies and derivatives markets. They also recognise resilience and agility of the Nigerian financial markets participants and acknowledge the valuable efforts of the ... |
Dangote sees revenue advance 15% YoY in 9M2201 November 2022, Published under Cement NewsDangote Cement has reported group revenue of NGN1177.3bn (US$2.68bn) in the first nine months of 2022, up 15.2 per cent YoY. Group EBITDA over the same period advanced by 0.2 per cent to NGN515.9bn, with an EBITDA margin of 43.8 per cent. Profit after tax fell 23.4 per cent YoY to NGN213.1bn, mainly due to exchange losses from the depreciation in the CFA and cede. Group sales volumes in the 9M22 came in at 20.8Mt, down 6.2 per cent YoY. “To mitigate the impact of significant increase in ... |