Bamburi Cement has applauded the recently concluded merger between Holcim and Lafarge, saying the amalgamation will have a positive impact on its business.
“We are delighted that the merger between Lafarge and Holcim has been completed. We will leverage the strength that comes with being part of the world’s leading building materials manufacturer,” Bamburi chief executive officer Bruno Pescheux said in a statement.
Bamburi is the largest cement manufacturing company in the region and its Mombasa plant is the second largest cement plant in sub-Saharan Africa. The firm has a total production capacity of 2.1 million tonnes.
Holcim and Lafarge, the majority shareholder of Bamburi, last month completed the industry’s biggest-ever merger – forming what is believed to be the world’s largest building materials company in terms of sales.
The completion of the merger now means that Holcim has an indirect control of Bamburi, which is 58.6 percent owned by two of Lafarge’s units — Fincem Holding Limited and Kencem Limited.
Holcim had last year told the Competition Authority of Kenya (CAK) that it had no intention of making a takeover offer for Bamburi and that the firm would continue trading on the Nairobi Securities Exchange.