ARM acquires full control of Rwandan producer

ARM acquires full control of Rwandan producer
03 July 2014

ARM Cement has completed the acquisition of Kigali Cement, taking full control of the Rwandan producer.

ARM Cement, which has held a 35 per cent stake in the company, bought out the remaining 65 per cent stake held by various shareholders to take complete control of the firm. The deal was finalised in April.

"We finally acquired a 100 per cent equity stake and full control of our Rwanda grinding plant," a newly released annual report by the company quoted Chairman, Rick Ashley as saying. Kigali Cement has a capacity of 100,000tpa of cement.

According to Mr Ashley, the company also plans to increase its capacity and market share using its flagship brand, Rhino Cement.

The acquisition is part of its expansion plans which seeks to invest more in the Rwandan subsidiary to improve sales in the country and neighbouring markets. Ashley says ARM will seek further measures to increase market presence in Kenya, East Africa’s largest economy, as well as Rwanda and Tanzania, completing ongoing projects and focusing on new markets in the region.

Published under Cement News