Akkermann Cement receives funds to acquire Akhangaracement JSC

Gazprombank has allocated funds for the acquisition by Akkermann Cement CA (part of the USM group) for a 98.6 per cent stake in Akhangaracement JSC in Uzbekistan.

The transaction was implemented with the attraction of financing from Gazprombank, is not just a creditor but a strategic financial partner of Akkermann Cement LLC. 

The group of companies under the Akkermann Cement brand is part of the diversified Russian holding USM. In 2021 Akkermann Cement produced about 4Mt of cement. The main assets of the company are cement plants in Novotroitsk (Orenburg region) and Gornozavodsk (Perm region). Now Akhangarancement located in Uzbekistan will join them.

At the end of 2021, the Akhangarancement plant put into operation an innovative dry-process cement production line with a capacity of 2.5Mta of cement. 

“The implementation of the transaction allows to significantly strengthen the position of Akkermann Cement  by entering a new market,” commented Alexei Belous, deputy chairman of the Management Board of Gazprombank.