Lafarge Africa approves UniCem, Atlas Cement merger
Lafarge Africa Plc, a leading cement manufacturer, has revealed plans to merge with United Cement of Nigeria (UniCem) and Atlas Cement Co Ltd, a prominent bag handling and cement distribution company.
The strategic move, approved by Lafarge’s board of directors, aims to strengthen its market position and operational efficiency.
Edith Onwuchkwa, Lafarge Africa’s company secretary, confirmed the board’s decision, stating, “The board authorized the firm to enter into any agreement and do all that is necessary to negotiate and implement the merger among UniCem and Atlas.”
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The merger is subject to regulatory approval, with Lafarge set to engage the Securities and Exchange Commission (SEC) and other relevant bodies to facilitate the process. The company emphasized its commitment to compliance and transparency as it works to finalize the agreement.
This consolidation is expected to enhance Lafarge Africa’s production and distribution capabilities, leveraging UniCem’s manufacturing expertise and Atlas Cement’s distribution network. Further details on the merger’s timeline and impact will be shared as regulatory approvals progress.
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