According to local press, Pretoria Portland Cement (PPC) has purchased a 51% share of cement manufacturer Cimerwa, Rwanda. The controlling stake in the company is said to have been acquired for US$69.4 million. Cimerwa currently has a production capacity of 100 000 tpa, and is in the process of expanding this to 600 000 tpa.
The acquisition forms part of PPC’s aim to expand its presence in the continent, and follows its joint investment with the Industrial Development Corporation for a 57% stake in Ethiopia’s Habesha Cement Share Company.
Edited from various sources by Louise Fordham.
Read the article online at: https://www.worldcement.com/africa-middle-east/13122012/cement_ppc_cimerwa_rwana_expansion_789/