04 March 2024

Nigeria: Dangote Cement has reported a 36% year-on-year rise in its sales to US$1.44bn in 2023. Meanwhile, the producer’s profit after tax grew by 19% to US$300m. Dangote Cement’s expansion of its market share across Africa continued, with pan-African volumes growth of 13%, to 11.3Mt.

Nigeria: BUA Cement recorded 27% year-on-year growth in sales in 2023, to US$300m. This was in spite of ‘economic challenges,’ including a rate of inflation of the Nigerian Naira of 30% at the end of the year. Costs rose by 39% to US$180m, both due to inflation and energy crises. Nonetheless, the group grew its earnings before interest, taxation, depreciation and amortisation (EBITDA) by 10% to US$111m. Profit after tax dropped by 31% to US$45.4m.

Managing director and CEO Yusuf Binji said “Clearly, the operating environment in 2023 was challenging, given the different headwinds confronted at the start of the year and especially with the devaluation of the Naira.” Looking ahead to the current year, Binji added “We could commission the new 3Mt/yr lines at the Sokoto and Obu cement plants, activate a new 70MW gas power plant in Sokoto and eagerly await the activation of the 70MW gas power plant at Obu during the first quarter of 2024. Apart from these, we took delivery of over 500 trucks to support our distribution activities, which further deepened our market presence.”

The Daily Trust newspaper has reported that religious leaders held thanksgiving services for a 50% pay rise for BUA Cement's employees at the company’s Sokoto cement plant on 1 March 2024.

Colombia: Cementos Argos will benefit from US$128m in new investments in 2024. Reuters has reported that the investments will focus on enhancing operations and quality assurance. Parent company Grupo Argos plans to invest a total of US$509m in its subsidiaries throughout the year.

Australia: Belgium-based Etex has acquired BGC Fibre Cement and BGC Plasterboard from BGC. The assets include the Canning Vale fibre cement board plant in Western Australia. Both businesses reported total sales of US$101m in the 2023 financial year.

Etex CEO Bernard Delvaux said “We warmly welcome our 200 new teammates coming from BGC. Joining forces with their plasterboard and fibre cement activities is a strategic opportunity for Etex. With this, we take a top three position in the fibre cement market and are eager to start delivering quality fibre cement to new customers.”

US: The Portland Cement Association (PCA)’s Environment and Energy Committee met in Tampa, Florida, to discuss the formation of a new coalition with other industry bodies under the leadership of the US Chamber of Commerce. The PCA said the coalition will take legal action against the US government, following the Environmental Protection Association (EPA)'s introduction of new, lower particulates emissions standards. The association says that the revised standards may lead to layoffs and lower cement and concrete production.

Other items on the agenda for the committee’s biannual meeting include permitting and regulatory reform for carbon capture, utilisation and storage and alternative fuels for cement production.