BUA Cement

Last updated

BUA Cement PLC is a publicly listed firm headquartered in Nigeria, it produces and markets cement products in the country. It is the second largest producer in Nigeria [1] after Dangote Cement. The company was formed through the consolidation of the cement interest of the BUA Group, promoters of Obu Cement Company and the Kalambaina Company majority owned Cement Company of Northern Nigeria.

Contents

BUA Group's entry into the cement market began in 2008 when the government gave them the license to import cement to a selected group of entrepreneurs. BUA initially began operations with a floating cement clinker, re-bagging the products before it went on to purchase controlling interest in the struggling Edo Cement plant. [2] Majority of the firm's raw materials are found close to its plant locations in Edo and Sokoto States.

The company was listed on the Nigerian Stock Exchange in January 2020 with a market cap of $3.2 billion. [3]

History

Obu Cement

In 2009, BUA Group purchased interest in Edo Cement Company, Okpella, a company that previously traded under the name of Bendel cement. As production was on a decline at the plant, BUA commissioned a new plant at Obu, a few kilometres from Okpella, [4] production from the new clinker began in 2014, later another production line was added in 2019. Combined production capacity at its two lines is 6 million tonnes. [5]

CCNN

The Cement Company of Northern Nigeria was incorporated in 1962 as the first cement manufacturing firm in the Northern Nigeria region. The first plant was built by a West German engineering firm at the cost of three million pounds. [6] The capacity of the first plant was 200,000 tonnes per annum producing through a dry process kiln. Throughout its operations, technical and management difficulties affected the running of the clinker. In 1988, a new 600,000 tonnes plant was commissioned and the old one was later decommissioned. The company was founded [7] by the Northern Nigeria Development Company and sourced its limestone from the Kalambaina formation nearby. BUA Group acquired controlling interest in CCNN in 2009 and in 2018, it facilitated the merger of its solely owned Kalambaina Cement with the publicly listed CCNN. [8] The firm's Kalambaina plant includes investment in energy infrastructure such as a power plant to supply electricity and coal mining to fuel the plant. [1]

Related Research Articles

Vedanta Limited is an Indian multinational mining company headquartered in Mumbai, with its main operations in iron ore, gold and aluminium mines in Goa, Karnataka, Rajasthan and Odisha.

<span class="mw-page-title-main">Edo State</span> State of Nigeria

Edo, officially known as Edo State, is a state in the South-South geopolitical zone of the federal republic of Nigeria. As of 2006 national population census, the state was ranked as the 24th most populous state (3,233,366) in Nigeria. The estimated state population is around 4,777,000 in 2022. Edo State is the 22nd largest State by landmass in Nigeria. The state's capital and largest city, Benin City, is the fourth largest city in Nigeria, and the centre of the country's rubber industry. Created in 1991 from the former Bendel State, it is also known as the heart beat of the nation. Edo State borders Kogi State to the north for 133 km and across the Niger River for 81 km to the northeast, Anambra State to the east for about four km across the Niger River, Delta State to the southeast and south for 350 km, and Ondo State to the west.

<span class="mw-page-title-main">Nigerian Exchange Group</span> Stock exchange located in Lagos, Nigeria

The Nigerian Stock Exchange (NSE), now Nigerian Exchange Group, is a Nigerian stock exchange founded in 1961 in Lagos. As of November 2019, it has a total of 161 listed companies, with 8 domestic companies on the premium board, 144 companies on the mainboard, and 4 on the Alternative Securities Market (ASeM) board. In the Fixed Income market, the NSE has 84 FGN bonds, 21 state bonds, 27 corporate bonds, 1 supranational bond, and 53 memorandum listings.

<span class="mw-page-title-main">China Resources</span> State-owned corporate group

China Resources Holdings Company Limited, or simply China Resources, is a Chinese state-owned conglomerate that owns a variety of businesses in Hong Kong and Mainland China. Some of its subsidiaries use the name in the form of the acronym CRC.

<span class="mw-page-title-main">Bamburi Cement</span> Kenyan manufacturing company

Bamburi Cement Limited is an industrial company in Kenya specialising in cement and concrete. The company has operations in Bamburi suburb of Mombasa, it is headquartered in Nairobi and its stock is listed on the Nairobi Securities Exchange.

ARM Cement Limited, formerly Athi River Mining Limited, but commonly referred to as ARM is a mining and manufacturing company in Kenya, the largest economy in the East African Community. The company is headquartered in Nairobi and its stock is listed on the Nairobi Stock Exchange.

<span class="mw-page-title-main">Heidelberg Materials</span> German building materials manufacturer

Heidelberg Materials is a German multinational building materials company headquartered in Heidelberg, Germany. Formerly known as HeidelbergCement AG, the company has rebranded as Heidelberg Materials in September 2022. It is a DAX corporation and stands as one of the world's largest building materials companies. On 1 July 2016, HeidelbergCement AG completed the acquisition of a 45% shareholding in Italcementi. This acquisition made HeidelbergCement the number one producer of construction aggregates, the second-largest in cement and the third-largest in ready-mixed concrete worldwide. In the 2020 Forbes Global 2000, HeidelbergCement was ranked as the 678th -largest public company in the world.

Cletus Madubugwu Ibeto is a Nigerian businessman from the industrial city of Nnewi. He is head of The Ibeto Group, the largest business enterprise from Nnewi, a city unique for its entrepreneurial spirit. In the early 1980s, when the oil crash and a controversial import licensing system was making a dent on the Nigerian manufacturing environment, Nnewi went through a growth period. The Ibeto Group under the Ibeto's leadership was a pacesetter in the region and nation's trading and later manufacturing development.

<span class="mw-page-title-main">Chilanga Cement</span>

Chilanga Cement is a company of Zambia. Chilanga is principally a cement company, producing cement and cement clinker. The company also sales aggregates from a quarry it operates in Chilanga. The company is headquartered in Chilanga which is close to Lusaka, the national capital.

Okpella is a clan situated along Benin-Abuja federal high way. Going by the last National Census figures, it has the population of 500,000, and is one of the three main towns that make up Etsako East Local Government Area of Edo State. It is made up of two sub-clans, each with their villages; Ogute sub-clan, which is made up of Ogute-Oke, Awuyemi, Imiekuri and Imiegeli villages, and Oteku sub-clan, comprising Komunio and Iddo. The language spoken in the clan is Okpella, a dialect of Bini which has evolved. Okpella is known for its natural sedimentary rock based mineral resources, which include limestone, calcium, and granite, feldspar, talc, clay, marble, and it plays host to the defunct Bendel Cement Factory, BUA Cement Factory and Dangote Cement Factory.

<span class="mw-page-title-main">Lucky Cement</span>

Lucky Cement Limited (LCL) (Urdu: لکی سیمنٹ لمیٹڈ) is one of the largest cement producer in Pakistan. Its shares are traded on the Pakistan Stock Exchange, and are part of the KSE 100 Index.

<span class="mw-page-title-main">Oando</span> Nigerian multinational energy company

Oando Plc is a Nigerian multinational energy company operating in the upstream, midstream and downstream.

<span class="mw-page-title-main">Dangote Group</span> Nigerian industrial conglomerate

The Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote. It is the largest conglomerate in West Africa and one of the largest on the African continent. The group employs more than 30,000 people, generating revenue in excess of US$4.1 billion in 2017.

<span class="mw-page-title-main">Dangote Cement</span>

Dangote Cement Plc is a Nigerian publicly traded multinational cement manufacturer headquartered in Lagos. The company is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products in Nigeria, and has plants or import terminals in nine other African countries.

Abdul Samad Isyaku Rabiu is a Nigerian billionaire businessman and philanthropist. His late father, Khalifah Isyaku Rabiu, was one of Nigeria's foremost industrialists in the 1970s and 1980s. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion. He is also the chairman of the Nigerian Bank of Industry (BOI).

Owan is an ethnic group in the Northern part of Edo State, Nigeria. They are one of the Edoid peoples.

Flour Mills of Nigeria (FMN) is a Nigerian diversified agribusiness company, it was founded in 1960 by George S. Coumantaros. It is one of the leading FMCG in Nigeria. FMN employs over 12,000 people.

Lafarge Africa Plc is a building solutions company headquartered in Lagos and quoted on the Nigerian Stock Exchange. It is majorly controlled by the Holcim Group. Previously trading under the name of Lafarge Wapco Plc, the merger of Lafarge and Holcim and resulting consolidation of Lafarge's assets in Nigeria and South Africa resulted in the name change to Lafarge Africa.

<span class="mw-page-title-main">BUA Foods</span>

BUA Foods plc is a Nigerian company based in Lagos. It is part of the Nigerian BUA conglomerate. Its business activities include the production, processing and distribution of food products through its sugar, flour, pasta, rice and edible oils divisions. The sugar division includes the production, processing, refining and distribution of raw sugar and its by-products. The rice division has a rice mill with a capacity of over 200,000 tons per year. The edible oils division specializes in the conversion of crude palm oil into oil products, including palm oil, stearin and distilled fatty acids.

References

  1. 1 2 "BUA: The making of a cement giant". BusinessDay NG, TV, and Podcast. 2018-07-23. Retrieved 2020-03-08.
  2. ↑ staff, Global Cement (9 April 2014). "BUA Cement signs with Nigerian Gas Company - Cement industry news from Global Cement". www.globalcement.com. Retrieved 2020-03-08.
  3. ↑ "Update 3: BUA Cement, on listing, becomes 3rd-largest company on NSE". Businessday NG. 2020-01-09. Retrieved 2020-03-08.
  4. ↑ Ebigwai, Joseph. "FLORAL STUDIES OF BUA CEMENT IN OKPELLA".{{cite journal}}: Cite journal requires |journal= (help)
  5. ↑ Ford, N. (2019, February). BUA Cement: driving demand for Nigerian mining. African Business, (460), 56+.
  6. ↑ United States; Central Intelligence Agency (1962). "Daily report, foreign radio broadcasts". Daily Report, Foreign Radio Broadcasts.: I10. OCLC   1541329.
  7. ↑ "BUA Cement lists 33.86bn shares on NSE, emerges third largest listed company". January 9, 2020. Retrieved 2020-03-08.
  8. ↑ Africa's Top Companies. (2019, May 13). African Business
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.