Lafarge Africa Plc notified The Nigerian Stock Exchange that Nigerian Cement Holdings B.V. (NCH), a 50% affiliate of Large Africa Plc, has completed the acquisition of the second and final tranche of 15% of equity interest of Flour Mills of Nigeria Cement Industries in UNICEM.
The company in March acquired first 15% tranche stake in UNICEM, bringing NCH’s stake in UNICEM to 85%, NCH.
Accordingly, NCH now owns 100% of UNICEM and consequently Lafarge Africa Plc now owns 50% of the equity of UNICEM.
Lafarge Africa stated that UNICEM’s operational office is located in Calabar and its manufacturing plant in Mfamosing, Cross Rivers State.
It currently has a cement production capacity of 2.5Mtpa and is developing a second production line of 2.5Mtpa. The second production line is targeted to be commissioned in 2016 to bring UNICEM’s total production capacity to 5.0Mtpa.