NAIROBI, Kenya, Mar 3 – Amsons Group, a Tanzanian conglomerate that operates in energy and manufacturing, has begun integrating Bamburi Cement operations into its fold after acquiring over 95 percent equity shares.
The integration process through its Kenyan subsidiary, Amsons Industries Kenya Limited, follows the recent closure of a Sh23.6 billion ($183 million) bid.
“From the onset, I want to assure Bamburi Cement stakeholders of our commitment to upholding and enhancing the high operating and commercial standards set by Holcim Ltd and Lafarge. That is our promise to our customers, employees, banks, suppliers and all stakeholders,” Amsons Group Managing Director Edha Nahdi said.
He said the firm will strive to improve the operating standards and policies already deployed by Bamburi’s former majority equity shareholders by maintaining the professional services of the executive management team, including Bamburi Cement CEO Mohit Kapoor to ensure continuity.
“Together with our flagship cement business, Camel Cement, and the growing Mbeya Cement operations, we are proud to welcome Bamburi Cement as part of this dynamic and forward-thinking group,” said Nahdi.
He further disclosed that the Tanzanian-based conglomerate is looking to invest an additional $400 million over the next three years to power growth at Bamburi Cement.
This will include the development of the Bamburi Cement Integrated Clinker plant in Matuga, Kwale County.
“We are confident that these investments will position the company for sustained success and strengthen Bamburi Cement’s market leadership,” he said.
Bamburi Cement’s acquisition followed a fierce bidding war with Savannah Clinker in December last year, which had offered Sh25.4 billion for up to 100 percent of issued ordinary shares in the cement company.
However, Amsons Group remained alone after Savannah Clinker abandoned an earlier plan to acquire full ownership of Bamburi Cement.
