Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Zimbabwe Stock Exchange  >  Lafarge Cement Zimbabwe Limited    LACZ   ZW0009012056

LAFARGE CEMENT ZIMBABWE LIMITED

(LACZ)
SummaryChartsNewsCalendarCompany 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Lafarge Cement Zimbabwe : Seals Us$15m Deal

share with twitter share with LinkedIn share with facebook
share via e-mail
12/02/2019 | 05:06am EDT

Lafarge Cement Zimbabwe says it has concluded a US$15 million financing facility to fund the expansion of its operations.

In a trading update for the third quarter ended September 30, 2019, company secretary, Ms Flora Chinhaire, said the firm was optimistic of opportunities in the growth of the construction sector beyond 2020.

"In this vein, management has successfully concluded financing arrangement for a US$15 million facility to fund expansion cement

milling capacity and the Dry Mortar Mix (DMX) plant.

"In addition, in order to mitigate the effect of erratic power supply, the business has embarked on alternative power supply to supplement Zesa generation as part of our expansion efforts," she said.

Ms Chinhaire said their capital expenditure expansion programme has been rolled out with the power generating unit now on site while the DMX plant was being manufactured.

"Work on the cement milling expansion project will commence in January 2020.

"The company is effectively engaging the Reserve Bank of Zimbabwe to conclude registration of our external shareholder loan of US$28,5 million and expect to conclude the matter before end of the 2019 financial year," she said. -- Bulawayo Bureau.

Copyright The Herald. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

Stocks mentioned in the article
ChangeLast1st jan.
LAFARGE CEMENT ZIMBABWE LIMITED 0.00% 3 End-of-day quote.0.00%
LAFARGEHOLCIM 2.90% 37.65 Delayed Quote.-30.52%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on LAFARGE CEMENT ZIMBABWE LI
03/12LAFARGE CEMENT ZIMBABWE : Launches Us$2,2m Mortar Plant
AQ
2019LAFARGE CEMENT ZIMBABWE : Seals Us$15m Deal
AQ
2019LAFARGE CEMENT ZIMBABWE : Hyperinflation Bites - Lafarge Cement Volumes Plummet ..
AQ
2019LAFARGE CEMENT ZIMBABWE : ZCDC boss to appear in court today
AQ
2019LAFARGEHOLCIM : Lafarge assures President of more investment
AQ
2019LAFARGEHOLCIM : injects US$25m into Zim operation
AQ
2019LAFARGE CEMENT ZIMBABWE : emerges from loss position to post US$1,3m profit
AQ
2018LAFARGE CEMENT ZIMBABWE LIMITED : Annual results
CO
2018LAFARGE CEMENT ZIMBABWE LIMITED : Share buyback
CO
2017LAFARGE CEMENT ZIMBABWE LIMITED : Annual Report
CO
More news
Chart LAFARGE CEMENT ZIMBABWE LIMITED
Duration : Period :
Lafarge Cement Zimbabwe Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
Kaziwe Kaulule Chief Executive Officer
Kumbirai C. Katsande Chairman
Pieter Du Preez Operational Director
Mohammed Michel Nayah Chief Financial Officer
Muchadeyi Ashton Masunda Non-Executive Director
Sector and Competitors