Kenya's ARM Cement posted a pretax loss of US$6.32 million for the nine months to September, citing losses related to the depreciation in regional currencies against the dollar.
The cement producer announced that revenue for the first nine months of 2015 rose 7% to 11.7 billion shillings, due to increased cement sales in Kenya and in Tanzania.
However, although demand for cement grew more than 10% during the period, the sharp depreciation of both the Kenyan and Tanzanian currencies in the same period has resulted in an unrealised exchange loss.
Kenya's shilling has lost about 12% against the dollar so far this year. Tanzania's shilling has lost nearly 20% of its value.
WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.
World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.
Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.
The companies have announced the creation of Wallex, a company focused on design and engineering, manufacturing and on-site installation of offsite panelised and self-supporting construction systems.
Amid fears that the project might not take off, the CEO of Cemtech Sanghi Group has made assurances that the plant will be finished in the first half of 2014.
