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News New buyer signs Schwenk Namibia deal

New buyer signs Schwenk Namibia deal

Written by Global Cement staff 06 January 2020
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Namibia: China-based West China Cement concluded a sale and purchase agreement for Germany-based Schwenk Zement subsidiary Schwenk Namibia for US$104m on 3 January 2020. The Nambian newspaper has reported that the deal is awaiting clearance from authorities. Schwenk Namibia holds a 70% stake in Ohorongo Cement. Singaporean authorities stopped the sale of Schwenk Namibia to Singaporean-based International Cement Group (ICG) in September 2019 due to the latter’s inability to cover the losses of the Namibian company.

Last modified on 08 January 2020
Published in Global Cement News
Tagged under
  • China
  • Germany
  • Namibia
  • Schwenk Namibia
  • Schwenk Zement
  • West China Cement
  • Sale
  • Contract
  • Ohorongo Cement
  • International Cement Group
  • funding
  • Loss
  • GCW437
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