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    BREAKING NEWS
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    $2.2 Million Dry Mortar Mix Plant to be Commission by Zimbabwe’s Lafarge Cement before the rollout of 2020

    Posted On 01 Oct 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Abdul Rahman Bangura–

    Photo Credit: New Zimbabwe

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Zimbabwe’s Lafarge Cement (Lafarge), is fixed to finalize the installation of a $2.2 million Dry Mortar Mix (DMX) plant during next slice of 2020 as the cement-maker bent on in bolstering its production capacity, 263 Chat Business has ascertained. Thus, the project is fraction of Lafarge Holcim Group’s $25 million recapitalization of its Zimbabwean subsidiary that was disclosed in 2019.

    “Currently, the DMX plant is being installed and is set to be completed in the second half of 2020, while the Vertical Cement Mill supply contract was signed in August 2020,” said the Group’s Chairman – Kumbirai Katsande.

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    Moreover, Lafarge has been manufacturing DMX products for many years although on a small scale and the new plant once finished off, is anticipated to enhance the company’s manufacturing capacity per year by over 700% from the current 7,000 tones to 50,000 tones. On the same vein, The DMX product range comprises tile adhesives, agricultural lime, tile gout, cement based paints and water proofing compound.

    Nonetheless, fresh volumes for the DMX business thrived by 100% in the corporation’s half-year performance to June 30th, 2020 though the corporation foresees a decline in the second half of the year due to the planned plant shutdown for renovations.

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    “Revenue for the six months grew by 27% to ZWL 1.1 billion (June 2019: ZWL 0.9 billion). Our cost rationalization, innovation, and efficiency initiatives helped to improve gross profit margins by 8% to 50% (June 2019: 42%),” announced Katsande.

    The corporation commenced the year on a fair remark with first first-quarters marginally exceeding the same preceding comparable duration by 1.4% before the onslaught of the COVID-19 lockdown which resulted in a crucial plunge in the monthly volumes of April 2020 by 71.4% correlated to the same month in the prior year. The volumes yet, recovered in May and June 2020, leading to total volumes for the period closing at 14.1% downward than the same period in 2019.

     

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    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    10 Comments

    1. Lise October 1, 2020 at 1:45 am Reply

      Thank you for the newsletter. Lise in Windhoek. Namibia

      • New Africa Business News, Staff Correspondent October 1, 2020 at 1:46 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Phila October 1, 2020 at 1:58 am Reply

      Thank you for the report. African own manufacturing companies are starting to grow faster than anticipated. Good news. This is due to new leaderships in several African countries, believing in themselves. Johannesburg, South Africa. Phila

      • New Africa Business News, Staff Correspondent October 1, 2020 at 2:00 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Dola October 1, 2020 at 2:12 am Reply

      Most of our new Leaders in the Continent, did know that the foreign aid or line of credit are not coming to develop our great Continent, they are here to Lott our natural resources that the creditors don’t have and then create division within our People. Divide and Rule. Is not going to work this time. Lagos NIGERIA. Dola

      • New Africa Business News, Staff Correspondent October 1, 2020 at 2:12 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Andrew October 1, 2020 at 2:17 am Reply

      Thank your for reporting and thank you for signing me to the newsletter. Edinburgh, Scotland. Andrew

      • New Africa Business News, Staff Correspondent October 1, 2020 at 2:18 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Abate October 1, 2020 at 2:40 am Reply

      So proud to be Rwandese and African. Look at our government achievements within the last two decades. This is due to our President’s goal to develop our small beautiful East African Country and generate partnerships with Nations and institutions for mutual benefit for our Countries, unlike Zambia and few other Countries in the Continent letting China come take all natural resources, bring millions of it un wanted Citizens and take government own assets. Addis Ababa Ethiopia. Abate

      • New Africa Business News, Staff Correspondent October 1, 2020 at 2:40 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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