Browsing: Bamburi Cement

• Amsons Group has started integrating its new acquisition, Bamburi Cement of Kenya into its industry portfolio in the region. Amsons says it will invest $400M in Bamburi in the next three years.
• With Bamburi Cement’s integration, Amsons Group’s total cement manufacturing capacity has now grown to 13,000MT/day.
• Tanzania-based conglomerate says it will enhance the high operating and commercial standards set by Holcim Ltd and Lafarge.

Tanzania-based conglomerate Amsons Group has announced that it has started integrating its new acquisition, Bamburi Cement of Kenya into its corporate fold in the region.

The family-owned company said the integration through its Kenyan subsidiary and investment vehicle, Amsons Industries (K) Ltd, follows the recent closure of a transaction in which Amsons Group placed a $183 million bid and acquired over 95 per cent of the issued equity shares in Bamburi late last year.

Amsons Group Managing Director Mr Edha Nahdi said the integration will …

• AMSONS Group granted regulatory go ahead to acquire Bamburi cement.
• The family-owned business has partnered with KCB Investment Bank as its transaction adviser.
• Amson made its initial offer when Bamburi Cement’s shares were trading at Sh45, but the stock has since risen, trading at Sh66 on Thursday afternoon.

Tanzanian business conglomerate AMSONS Group has received regulatory approval from the COMESA Competition Commission for its proposed acquisition of up to 100 per cent of Bamburi Cement.

The move coming at a time that Kenya’s Savannah Clinker Limited has already raised its bid for the acquisition of Bamburi Cement, even though its offer already exceeds Tanzania Amsoms’ competing offer.

In a statement, the COMESA Competition Commission confirmed that the proposed acquisition falls within its ambit and does not pose a competition risk within the common market.

“It is unlikely that the proposed merger will lead to the creation of a dominant position …

• Savannah Clinker seeks to acquire 100% of the Nairobi Securities Exchange-issued shares of Bamburi Cement for $197.3M (KES25.4Bn), an offer that is higher than the $180M (KES23Bn) placed earlier by Amsons Group.
• The competition between Savannah Clinker and Amsons Group underscores an ever-persistent rivalry between Kenyan and Tanzanian firms in the East African market.
• In July, Amsons’ $180M offer was seen as a strategic move to expand its footprint in Kenya and tap into the lucrative construction market.

The push by Tanzania-based conglomerate Amsons Group to grow its footprint across Kenya through the acquisition of Bamburi Cement has taken a fresh twist after a Kenyan-based mining firm Savannah Clinker Ltd placed a more attractive counter-offer for the full acquisition of Bamburi PLC.

In the latest filing with market regulators, Savannah Clinker seeks to acquire 100 per cent of the Nairobi Securities Exchange-issued shares of Bamburi Cement for $197.3 million(KES25.4 billion), …

• Bamburi Cement is rolling out plan to lower its net carbon emissions by 40% by 2030 as growing climate change impacts hit the globe. 
• The company announced that it has lowered its carbon emissions by 3.2% and achieved a 5.5% increase in the use of alternative fuels.
• The reduction in the Scope 1 carbon emissions is attributed  to ongoing key initiatives such as use of alternative fuels, the substitution of clinker, renewable energy and optimization of the cement manufacturing process. 

Bamburi Cement Plc has unveiled a strategy to reduce its net carbon emissions by 40 per cent by 2030 in response to the increasing impacts of climate change worldwide.

Speaking during the launch of its 2022 Sustainability Report, the company announced that it has reduced its carbon emissions by 3.2 per cent and achieved a 5.5 per cent increase in the use of alternative fuels in its operations.

Bamburi …

Bamburi Cement PLC has announced plans to sell its Ugandan business to Sarrai Group, pending regulatory approvals. The Board of Directors of the cement maker has approved the sale of its stake in Hima Cement Limited, Uganda, amid declining profits.…

• Bamburi Cement PLC has appointed Mohit Kapoor as the new Group Chief Executive Officer (CEO), effective April 1, 2023, subject to regulatory approvals.
• An electrical engineer, marketer and supply chain expert by profession, Kapoor was the Country CEO for Holcim Qatar prior to this appointment.
•  Seddiq Hassani concludes his 5 year tenure leaving behind a stable and resilient brand.

 Bamburi Cement PLC has appointed Mohit Kapoor as the new Group Chief Executive Officer (CEO), effective April 1, 2023, subject to regulatory approvals amidst dwindling profits.

Kapoor succeeds Seddiq Hassani, who has served as the company’s CEO since his appointment on February 9, 2018, and ends his five-year tenure on March 31, 2023.

An electrical engineer, marketer and supply chain expert by profession, Kapoor was the Country CEO for Holcim Qatar prior to this appointment. He has also served as the Head of Growth and Innovation at Holcim India, the Managing …

2018 profits dropped to US$6.1 million from US$18.8 million in 2017

Cement manufacturers-Bamburi Cement has expressed concerns over the Uganda-Rwanda border row, warning it could derail its earnings.

This comes amid a drop in net profit for the year 2018, reported at Ksh614 million (US$6.1 million) down from Ksh1.9 billion (US$18.8 million) in 2017.

“The difficulties experienced in the Uganda-Rwanda border have significantly impacted exports to Rwanda from Uganda and the Group hopes this matter is resolved expeditiously,” the company said in its financial statement signed by Chairman John Simba and Group Managing Director Seddiq Hassani.

The Nairobi Securities Exchange (NSE) listed firm has however reported a 3.7 per cent jump in turnover, from Ksh36 billion (US$3.6 billion) in 2017 to Ksh37.2 billion (US$3.7 billion) in 2018 as cement volumes grew by nine per cent.

“The Group achieved this growth despite a market decline of five per cent in Kenya, …