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  Shareholders laud Dangote Cement’s upgrade

Shareholders of Dangote Cement Plc have commended the company’s management for raising the quality of its cement from 32.5 grade to 42.5 grade.

They shareholders, who gave the commendation at the 2013 Annual General meeting (AGM) of the company in Lagos recently, passed a vote of confidence on the management, saying it has exhibited a sense of patriotism and concern for the users of the product.

In his remarks at the occasion, chairman of Dangote Cement, Aliko Dangote said the company would soon intensify direct-to-consumer deliveries to stabilise the price of cement and free the consumers from the profiteering middlemen. Insisting that the company has not increased the price of cement, he explained that though prices of most inputs into cement production have gone up, the organisation is committed to making the commodity available to consumers.

He said: “We have not increased the prices of our product. We have embarked on an initiative to improve the standard of cement sold in Nigeria and our belief is that 42.5 strength cement, is the most appropriate for general use now.

“We have also recently introduced 52.5 strength cement, which is appropriate for heavy load-bearing structures such as bridges and flyovers. We hope to increase the market share in the short-term by increasing the level of direct-to-customers deliveries and competing on product superiority.”

He expressed optimism that the current year would offer better returns because trading has remained robust in the country. He also updated shareholders on the current status of the company’s various African projects. He said some of the plants would be commissioned before the end of the year.


Publication date is 5/20/2014



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