Cement News tagged under: Bamburi Cement
Bamburi Cement is being fiercely fought over08 November 2024, Published under Cement NewsHolcim's divestments in East Africa are resulting in a scramble to win shareholder approval for a successful bid to acquire its Kenyan subsidiary Bamburi Cement. Amsons Group and Savannah Clinker are in a head-to-head battle to secure the Kenyan operations and increase its foothold in East African cement production. Holcim has a 58.6 per cent majority shareholding in Bamburi Cement so they, and the other shareholders, will have to consider both bids to decide the plant's future. Amsons Gr... |
Savannah Clinker Ltd outbids Amsons Group to acquire Bamburi Cement29 August 2024, Published under Cement NewsSavannah Clinker Ltd (SCL), a Kenya-based construction materials company, has outbid Amsons Group to acquire full ownership of Bamburi Cement . On 28 August SCL announced that it had bid TZS25.4bn (US$9.36m) for up to 100 per cent of the issued ordinary shares in the cement producer. Prior to this offer, Tanzanian conglomerate Amsons Group had led the bidding with an offer of TZS23bn. If the deal goes through, SCL will purchase 362.96m of Bamburi-issued shares at a value of TZS70 each... |
Bamburi Cement receives acquisition deal11 July 2024, Published under Cement NewsAmsons Group, Tanzania's leading manufacturing and energy giant, has offered to acquire a 100 per cent share in Bamburi Cement of Kenya in a proposed US$180m deal. The offer has been made by the Amsons Industries (k) Ltd subsidiary to buy the shares at KES65 (US$0.51)/share. The cash offer represents a 42.39 per cent premium share price as of the closing of NSE trade in 9 July 2024. Bamburi Cement is currently majority owned by Holcim (58 per cent) and listed on the Nairobi Secur... |
Bamburi Cement to cease producing OPC13 December 2023, Published under Cement NewsBamburi Cement ( Tororo Cement ) will cease production of ordinary Portland cement (OPC) within its product line from 1 January 2024, as part of the company’s commitment to decarbonise its operations and provide a greener option of building materials. This landmark commitment, which comes amid the ongoing 2023 United Nations Framework Convention on Climate Change (COP28) in the United Arab Emirates, will accelerate one of its 2030 sustainability targets to have 100 per cent green produc... |
Bamburi Cement builds two solar power plants04 December 2023, Published under Cement NewsBamburi Cement is building two solar photovoltaic power plants, which will provide up to 30 per cent of the cement producer’s total power requirement. According to Market Screener, this marks the largest commercial solar project ever initiated by a cement company in Kenya. The project with MOMNAI Energy Ltd, an independent power producer, will include two plants with capacities of 14.5MW and 5MW, located in Bamburi’s Mombasa and Athi River sites, respectively. Mohair Kapoor, CEO, B... |
Bamburi Cement calls for collaborative approach on decarbonisation23 October 2023, Published under Cement NewsKenya’s Bamburi Cement has issued a rallying call to the country’s construction sector to encourage decarbonisation. According to Capital Business, the company is in talks with designers, engineers, developers, contractors, materials manufacturer and industry bodies across Mombasa, Kisumu and Nairobi on how to develop a low-carbon pathway. Speaking to over 120 sector players at a recent event in Mombasa, Mohit Kapoor, CEO of Bamburi Cement, said, “The construction process and the materi... |
Bamburi sees pretax profit quadruple29 August 2023, Published under Cement NewsKenya-based Bamburi Cement Ltd , owned by Holcim, reported a 1H23 turnover of KES22,260m (US$153.5m), up 11 per cent when compared with the 1H22. Profit before tax surged to KES621m in the 1H23 from KES124m in the 1H22. |
Bamburi Cement to consider expansion despite macroeconomy19 June 2023, Published under Cement NewsBamburi Cement PLC ( Holcim group ) held its 72nd Annual General Meeting in Nairobi on 15 June, chaired by the Board and Management, which included Chairman Dr John Simba, Group Managing Director Mohit Kapoor, and Group Chief Financial Officer Eugene Antera. According to Mr Kapoor, "Kenya's macroeconomic situation is challenging due to inflation, currency devaluation, an uncertain tax environment, and restricted liquidity. “High power costs continue to be an issue and as a ... |
Bamburi Cement to open a new shale quarry03 April 2023, Published under Cement NewsKenya-based Bamburi Cement (part of Holcim )will be opening a new shale quarry in Kwale County to serve a new cement plant. The quarry is expected to supply around 20 per cent of the total resource material for the clinker production process. Bamburi plans to scale up its south coast business and establish a 5000tpd clinker plant, said the company’s former CEO, Seddig Hassani. The site is located on approximately 700 acres of land currently owned by local communities that are practicing... |
Bamburi Cement announces new CEO24 March 2023, Published under Cement NewsKenya's Bamburi Cement (part of the Holcim Group) has appointed Mohit Kapoor as its new chief executive officer, effective from 1 April 2023. Mr Kapoor replaces Seddiq Hassani who has left the company after five years at the helm, reports Business Daily Africa. Mr Kapoor has over 20 years’ experience in corporate leadership having held several high level management positions within the Holcim Group, including CEO of Holcim Qatar and head of growth and innovation at Holcim India. Bam... |