The Board of Directors of Nigeria’s Cement Co of Northern Nigeria (CCNN) and owners of the 0.5Mta Sokoto cement plant have announced that it has informed the Nigerian Stock Exchange of its proposed merger with BUA-owned Kalambaina Cement Co Ltd, owned and operators of the 1.5Mta Kalambaina plant in Sokoto state, Nigeria.
CCNN's Managing Director, Ibrahim Aminu, said the proposed merger would improve the competitiveness of CCNN in its home market and also enable it utilise the more modern plant and equipment of the Kalambaina Cement Co Ltd to boost its market penetration and export potential.
“Over the years, we have always delivered exceptional value to all stakeholders and this proposed merger is in continuation of that. We have consistently outperformed the industry in key metrics such as capacity utilisation but growth has been hampered over the years due to limited expansion and lack of alternative fuel sources. Kalambaina Cement’s 1.5Mta multi-fuel (coal, heavy oils and gas) powered cement plant solves that issue with limited downtime and further opportunities for growth and expansion,” said Mr Aminu.
