The Nation Newspaper

Tag: ASHAKACEM Plc

  • AshakaCem Plc posts N2b profit

    AshakaCem Plc posts N2b profit

    The Board of Directors of AshakaCem Plc, a subsidiary of Lafarge Africa Plc, has announced N2billion as profit after tax for the year ended 2016.

    This is against the N2.7 billion profit it posted in 2015.

    The company’s acting Chairman, Mrs. Edith Onwuchekwa who gave this disclosure at its 42nd Annual General Meeting in Abuja, said the devaluation of the naira and its consequent impact on operating costs had reduced the company’s profit before tax by 17 per cent.

    Thankfully, she said the company was able to save N2.6 billion by leveraging with Lafarge Africa PLC to reduce commercial and information technology activities.

    She added that despite the challenging economic environment in 2016, the company maintained optimal operation as production was on schedule with 648,585 metric tonnes cement dispatches, which was 6.5% higher than the 609,000 metric tonnes dispatched in 2015.

    Onwuchekwa said: “2016 was a difficult and challenging year, but we had serious commitment from management and staff and also from stakeholders. You could see that during my statement, I appreciated the management and stakeholders because they contributed to help us wade through the storm in 2016 and we were able to declare profitability.

    She said the company has unanimously endorsed a dividend payment of N336 million at 15 kobo on every ordinary share in issue for the period 2016 financial year to its shareholders.

    In his remarks, the company’s Managing Director, Rabiu Umar, said Ashakacem expects a positive market growth in during the year.

    “We expect positive market growth during the year. The early approval of federal government budget in the year, as well as the24% increase in allocation for capital expenditure vis-à-vis 2016 would definitely boost spending on infrastructure and the revenues of cement manufacturers. We are well positioned to take advantage of this as the Star of the North.”

  • AshakaCem signs pact with host communities

    AshakaCem signs pact with host communities

    The AshakaCem Plc has signed a community development agreement with its host communities around Maiganga coal mine in line with the provisions of the Nigerian Minerals and Mining Act 2007 and extant regulations 2011.

    Malam Rabiu Umar, the Managing Director of the company, told newsmen on Thursday in Gombe that the agreement was signed on Dec. 13, at the premises of the company in Funakaye Local Government Area of Gombe State.

    He said the agreement entailed a commitment to all parties to develop a positive relationship.

    Umar said the signing of the agreement signalled the beginning of a new dawn in the relationship between the company and the host communities.

    “AshakaCem, following the precepts of its sister company Lafarge Africa PLC remained committed to good corporate citizenship and environmental friendliness.

    “Fulfilling all statutory and regulatory obligations and striving to exceed expectations in terms of socioeconomic development to her partnering communities is an integral part of the way we run our business,’’ he said.

    The managing director further said the company’s environmental policy reflects on its commitment to sustainable development and approach to meeting new challenges in environmental protection.

    “We operate with uttermost respect for the common interest of the people.

    “We support the host communities by generating economic growth, creating jobs, providing training and social support,” Umar said.

    He said the company is currently constructing roads in the community as well as school and healthcare facility.

    He renewed AshakaCem’s readiness to address passionately all community issues that were routed through the committee as the only arbiter between the communities and the organisation.

    Mr Gibar Tsabta, the Chairman, Maiganga Community Development Association, said the agreement was reached through negotiations, adding that community representatives were involved in preparing and finalising the document.

    “We have put the interest of all stakeholders into consideration in arriving at the document.

    “We will remain dedicated to its full implementation to the benefit of all, however, ” Tsabta said.

    The chairman assured the concerned communities of better days with increasing and value adding benefits in the agreement, however,

    Umar called for more support and constructive engagements with AshakaCem to engender the necessary conducive environment for a sustained mutual relationship and “excellent performance”.

     

  • AshakaCem delivers 55 houses, school to communities

    AS part of the efforts to meet the housing needs of its host communities, AshakaCem Plc has delivered the 55 housing units it constructed for Lariski, Darumpa and Malari Villages at the cost of N252m.

    Keys to the houses were handed over to their owners at the weekend with a bag of rice each.

    The chairman of the company, Alhaji Umar Kwairanga, said the houses were built to stand the test of time.

    Also handed over to the communities by the Chairman were a primary school, maternity and a mosque with a promise that other facilities were coming their way.

    “We have built not only house for our communities, we have built school, a maternity and a mosque. Our community is part of us and one of the most important stakeholders in Ashaka.

    “We respect our communities and will continue to carry them along for the benefit of our people and in the interest of the organization.”  He commended the Ashaka forum for their cooperation and pleaded for more understanding in case of any misgiving about the company’s policies and programmes.

    He said the expansion programme was still in progress pleading with the management of Lafarge to expedite actions.

    The foundation stone for the houses were laid in mid January this year with a promise to deliver them in April.

     

  • Ashakacem Plc gets new CEO

    Ashakacem Plc gets new CEO

    ASHAKACEM Plc, a leading cement company in Nigeria, has announced the appointment of Mr. Leonard Palka as its new Managing Director/CEO. He replaces Mr. Neeraj Akhoury who has moved on to another assignment within the Lafarge Group.

    A Pole, Leonard Palka is a Graduate of Mechanical Engineering from the University of Science and Technology in Cracow, Poland. With over forty years’ experience in the Cement industry, Leonard has consistently demonstrated a profound knowledge of the business.

    Currently the President of the Polish Cement Association, he has held several senior management positions in various organisations including Chairman of the Supervisory Board of AGAVIS SA as well as a Member of the Board of the Polish Association of Cement and Lime Producers.