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    DANGCEM   NGDANGCEM008

DANGOTE CEMENT PLC

(DANGCEM)
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Dangote Cement : Acquires 2,000 New Trucks At $150 Million

07/13/2021 | 02:07am EDT

The new vehicles include trucks, trailers, tippers, cargo trucks and bulk cement tankers.

Dangote Cement Plc says it has acquired 20,000 additional vehicles to enhance the distribution of the company's cement products in the country.

The company's spokesman, Tony Chiejine, said in a statement made available to the News Agency of Nigeria (NAN) on Monday that the new vehicles, made up of trucks, trailers, and tippers, were acquired at a cost of $150 million US dollars.

According to him, the company had recently taken delivery of another set of trucks, trailers, bulk tankers, tippers, cargo trucks and bulk cement tankers.

"These assets would meet the expected increase in demand for transportation of cement to every part of the country and create employment for over 4,000 people in Nigeria," he said.

"We have acquired the new trucks in line with our new expansion capacity in Obajana, Ibese, Gboko and the new cement plant coming up on stream at Okpella, Edo State in few weeks time," Mr Chiejine said. .

He disclosed that the Dangote Fertiliser Company had just taken delivery of 500 trucks from Dangote Sinotruk West Africa Ltd. for the distribution of Urea brand of fertiliser to different parts of the country.

"The Dangote Sinotruck West Africa Ltd is a joint venture between Dangote Industries Ltd and Sinotruk China," Mr Chiejine explained.

He quoted Abdu Dantata, Group Executive Director, Logistics and Distribution, as saying that the acquisition was due to the growing needs of the business.

"This is especially as regards the increased trucking demands encountered lately, due to the surge in the demands for cement.

"The establishment of our clinker export terminals at Apapa and Onne Port led to the purchase of heavy-duty tippers for haulage of clinker from the plants to the terminals.

"The introduction of these trucks would improve customers' demand, improve on job creation in the country, as well as promote the economic development of Nigeria," Mr Dantata said.

( NAN)

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

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Sales 2021 1 267 B 3 098 M 3 098 M
Net income 2021 373 B 912 M 912 M
Net Debt 2021 348 B 851 M 851 M
P/E ratio 2021 11,7x
Yield 2021 7,66%
Capitalization 4 165 B 10 122 M 10 188 M
EV / Sales 2021 3,56x
EV / Sales 2022 3,19x
Nbr of Employees 16 199
Free-Float 11,5%
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Number of Analysts 10
Last Close Price 245,00 NGN
Average target price 250,24 NGN
Spread / Average Target 2,14%
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Managers and Directors
Michel Puchercos Group Chief Executive Officer, Group MD & Director
Guillaume Moyen Group Chief Financial Officer
Aliko Dangote Chairman
Emmanuel Ikazoboh Independent Non-Executive Director
Ernest Chukwudi Ebi Independent Non-Executive Director
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