Displaying items by tag: CCNN

Nigeria: 157 of Cement Company of Northern Nigeria (CCNN)’s 170 accredited shareholders have voted in favour of the company’s planned merger with Obu Cement. The Nation newspaper has reported that the company will submit the result to the Securities and Exchange Commission, which will duly ratify it with the federal High Court, formalising the merger in law.

Nigeria: Obu Cement and Cement Company of Northern Nigeria (CCNN), both subsidiaries of BUA Group, are set to merge. Abdul Samad Rabiu, founder and executive chairman of BUA Group, said that the merger ‘marks the culmination of the first phase of the BUA mid-term strategic plan,’ which aims at deepening the domestic cement market and enhancing industry growth.

Rabiu stated that the completion of the 3Mt/yr integrated Sokota Kalambaina II cement plant and a 48MW power station, construction of which began in 2018, has been scheduled for the second half of 2020. In addition to its four existing plants, this will bring the group’s total integrated cement production capacity to 11Mt/yr.

Nigeria: Cement Company of Northern Nigeria (CCNN) has made a donation of 3000 bags of cement, equalling US$22,100 in value, to impoverished communities in Sokoto State’s Wamakko Local Government Area. CCNN corporate affairs manager Alhaji Sada Suleiman said that the donation, which is to help repair mosques, graveyards, public wells and Islamic schools, was part of the company’s corporate responsibility.

Nigeria: Cement Company of Northern Nigeria’s (CCNN) sales revenue more than doubled to US$89.1m in the first half of 2019 from US$33.6m in the same period in 2018. Its profit after tax nearly tripled to US$20.3m from US$7.22m, according to the Business Day newspaper.

Nigeria: The Cement Company of Northern Nigeria (CCNN) has successfully merged with Kalambaina Cement. Abdul Samad Rabiu, the chairman of CCNN, said that the merger would boost efficiency, productivity, output and the financial returns of the company, according to the Eagle newspaper. The merger plans were publicly announced in mid-2018.

Nigeria: The Cement Company of Northern Nigeria (CCNN) says it has received formal approval from the Securities Exchange Commission and the Federal High Court for its merger with Kalambaina Cement. It added that the scheme of the merger was effective from 24 December 2018. New CCNN shares have been issued to and allotted to Kalambaina Cement’s shareholders at an agreed ratio.

Nigeria: The Cement Company of Northern Nigeria (CCNN) has announced the appointment of Yusuf Binji as its new Managing Director, effective 1 September 2018.

Prior to this appointment, Binji was the Managing Director of Obu Cement Company, a subsidiary of BUA Cement in Okpella, Edo State, a position he has held since February 2017.

Speaking on the appointment, Abdul Samad Rabiu, the Chairman of CCNN Board of Directors, said that Binji’s appointment was part of a restructuring effort aimed at further positioning the company for better business performance.

Binji brings with him almost 30 years experience garnered from the African cement industry, having worked with HeidelbergCement Africa, CCNN and BUA Cement in various capacities.

Binji is a chemical engineering graduate from Ahmadinejad Bello University, Nigeria and also studied at the University College, London, UK. He is a fellow of Nigerian Society of Engineers, the Solar Energy Society of Nigeria and the Nigerian Society of Chemical Engineers. He is also a registered engineer with the Council for Regulation of Engineering in Nigeria (COREN) and an associate member of the UK’s Institution of Chemical Engineers.

Nigeria: The Cement Company of Northern Nigeria (CCNN) plans to merge with Kalambaina Cement, a subsidiary of BUA Cement. CCNN operates a 0.5Mt/yr plant at Sokoto and Kalambaina Cement runs a 1.5Mt/yr plant, also in Sokoto state, according to the This Day newspaper. The merger is intended to improve CCNN’s competitiveness locally and take advantage of the newly-built Kalambaina Cement plant.

Nigeria: According to All Africa, Cement Company of Northern Nigeria (CCNN) in Sokoto will invest US$600m to expand its power plant from 12MW to 16MW.

The Bureau of Public Enterprise (BPE) Media head Alex Okoh said that CCNN principal manager of corporate affairs Alhaji Suleiman disclosed this while addressing BPE's post-privatisation monitoring team during a recent visit to the plant. Suleiman said that the expanded plant will be built in partnership with China's CBMI. "CCNN's plant does not generate sufficient power when the plant is run at full capacity utilisation," said Suleiman.

Nigeria: The Cement Company of Northern Nigeria (CCNN) has disclosed plans to raise US$280m for the establishment of a new 1Mt/yr cement production line.

According to the chairman of CCNN, Alhaji Abdulsamad Rabiu, the board of the company is now ready to implement the resolution passed at the 32nd AGM (in 2011) that authorised it to raise the necessary funds.

To help the expansion, the investment includes new coal grinding mill and accessories to help it produce more electricity. CCNN currently produces 90% of its required electrical energy requirements due to high prices and unreliable national network provision. The chairman added that the company had previously implemented an alternative fuel strategy by using rice husks. This has already cut its production costs by 15%.

CCNN made a net profit of US$7.4m in the year to 31 December 2012. This was down by nearly 50% compared to the US$14.2m that it made in the year to 31 December 2011.