Skip to main content

Bestway Cement becomes the largest cement manufacturer in Pakistan

Published by , Editor
World Cement,


Following Bestway Cement’s successful bid for 75.86% of Lafarge Pakistan’s shares for an enterprise value of US$329 million in July 2014, Bestway Cement has announced the acquisition of management control of Lafarge Pakistan’s 2.5 million tpy cement plant in Chakwal and attainment of another 12.07% shares of the target company through the public offer process, taking its shareholding in Lafarge Pakistan to 87.93%.

Bestway Cement has now become the largest cement manufacturer in Pakistan, with a total capacity of more than 8 million tpy, representing 18% of the entire industry's capacity in the country.

In Bestway Group’s Chief Executive and CEO, Mr. Zameer Choudrey’s, address to a large assembly of staff, various stakeholders and dignitaries, he said that taking over Lafarge Pakistan was a momentous occasion and a major milestone for Bestway Group. He affirmed his determination to continue playing his role in the economic development of Pakistan. He extended a warm welcome to the staff of Lafarge Pakistan to Bestway and expressed his commitment to keep developing Lafarge. He stated, Bestway intended to invest nearly US$30 million in the acquired company, including an environmentally friendly waste heat recovery power plant.


Adapted from press release by Harleigh Hobbs

Read the article online at: https://www.worldcement.com/asia-pacific-rim/24042015/bestway-now-largest-cement-manufacturer-pakistan-747/

You might also like

The World Cement Podcast - CleanTech & Venture Capital

Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.

Tune in to the World Cement Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):