The Industry Saw a Record 22% Growth in 2011 Relative to 2010

Ghana s leading producer of cement, GHACEM, says the industry saw a record 22% growth in 2011 relative to 2010, attributing this to the robust economic growth witnessed in the country in the year under review. The Managing Director of GHACEM, Mr. Morten Gade made this known in Takoradi at GHACEM s 2011 event to award some 55 distributors and customers (including those in the mining sector and transporters who haul their products to various depots) for their support to the company s growth. Mr. Morten said GHACEM; A market leader for over 44 years obtained a respectable share of the market with the support of its hardworking customers hence the need for their efforts to be appreciated. He disclosed that GHACEM was investing in some expansion works to improve its production capacity at both the Takoradi and Tema Plants to meet the huge demand expected this year. GHACEM being mindful of the positive growth in the cement industry has already invested an additional capacity of one million tonnes to bring the thermal plant to 3.2 million tonnes. I am happy to announce that the new mill will be up and running by November 2012 and plans are far ahead to increase Takoradi capacity shortly thereafter. This is being undertaken alongside the replacement of the two silos at the Takoradi factory this year. He pointed out that the Western Region s consumption of cement in 2011 nearly compared to that of the national level due to the oil activities. The discovery of the oil in Ghana creates accelerated development of the economy and GHACEM. As a market leader in the cement industry, we will continue to play a leading role in nation building. It is worth noting that the emerging oil industry contributed to a higher growth in the cement consumption of the Western Region compared to the national average. This region will most likely become one of the key markets of Ghana in addition to the key markets of Greater Accra and the Ashanti Region Mr. Gade noted. Mr. Gade said the commercial Division of GHACEM is well positioned for any competition in the industry. He said the company was also mindful of its corporate social responsibilities and has through the GHACEM Foundation given support to needy institutions and communities in the areas of education and health. The Chairman of the Cement Distributors Association in Takoradi, Mr. Michael Agyekum Oduro in a speech read on his behalf, applauded the management of GHACEM for fairly distributing the products amongst the various distributors and asked that measures are put in place to address any shortage that is likely to be experienced this year in anticipation of huge demand for the product. Whilst commending the management for giving them prior notice of the recent increase in the price of the product from GHS13.00 to GHS14.00, they appealed to them to asphalt the road that leads to the Takoradi factory since the dust emanating from the area affects them greatly. Source: uaecement.com