HeidelbergCement reduces West African exposure
HeidelbergCement, as part of its policy of concentrating on businesses with an important market presence, has sold its interests in two small West African cement producers to Damnaz Cement Company Ltd, a privately owned Nigerian company.
The deal involves 50.7% interest in Cement Company of Northern Nigeria, which as an integrated cement works at Sokoto in northern Nigeria with an annual production capacity of 0.5m tonnes per annum and a 93% stake in Société Nigérienne de Cimenterie in Niger.
Société Nigérienne de Cimenterie has a small integrated cement plant at Malbaza with an annual capacity of just 40,000t that Scancem acquired just under 20 years ago. HeidelbergCement bought its controlling stake in Cement Company of Northern Nigeria from the local government in 2000. HeidelbergCement still retains its ownership of Edo Cement Co., which has an idle works at Okpella in southern Nigeria, and still has its 25% interest in the Dangote BAIL import terminal at Port Harcourt. Published under Cement News
