Cement News tagged under: CDC

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CDC changes leadership at ARM to halt the decline

04 June 2018, Published under Cement News

British development financiers CDC have brought in Sophia Bianchi and Rohit Anand as new directors at ARM Cement, to replace replaced Ketso Gordhan and Pepe Meijer, after seeing its investment in Kenya’s Athi River Mining (ARM) plummet buy more than 90 per cent in just three years. CDC reported a KES6.9bn (US$68m) loss for the 2017 financial year on declining sales. The UK-based investment firm had to act to try and halt the slide. "The replacement of two board nominees…bring in subst...

CDC seeks ARM divestment

18 January 2018, Published under Cement News

The Commonwealth Development Corp (CDC), the UK government agency that acquired a 42 per cent stake in ARM Cement, is reportedly in talks with several, mostly Asian, companies to sell its shares in the Kenyan cement producer. When it invested in ARM Cement, the agency provided a US$140m cash injection to turn the cement firm around, but this has turned out to be insufficient.

LafargeHolcim inaugurates first dedicated Durabric plant in Malawi

14 July 2017, Published under Cement News

One year after the launch of 14Trees, LafargeHolcim’s and CDC’s joint venture to scale-up Durabric, 13 July 2017 marks the next step in its development with the inauguration of a dedicated manufacturing plant in Malawi. Durabric is LafargeHolcim’s affordable building solution, produced with a unique blend of earth, sand and cement, which removes the need for firing, helping fight deforestation. Equipped with an automatic production line, the Malawi plant is the first to produce Durabric ...

Kenya: CDC completes purchase of 40% stake in ARM Cement

05 October 2016, Published under Cement News

ARM Cement has completed the sale of 40 per cent of its shares to CDC Group, a UK-owned development corporation, for KES14.1bn (US$139m), Capital Business reports. The investment will strengthen ARM’s financial structure and enable the company develop to meet the growing demand for sustainably produced cement across sub-Saharan Africa. In the short-term, CDC will support the company’s plans to expand cement production in Mwingi in central Kenya, helping to bring down the cost of cement to...

LafargeHolcim and CDC bring low-carbon building material to market

29 June 2016, Published under Cement News

LafargeHolcim and CDC Group, the UK's development finance institution, have announced the creation of 14Trees, a joint venture that aims to accelerate the productdion and commercialisation of Durabric, which the company describes as "an environmentally-friendly, affordable alternative to traditional clay burnt bricks". 14Trees will benefit from the expertise of LafargeHolcim’s R&D centre to help address the growing demand for affordable housing for some of the nearly 3bn people around th...