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News Fossil Mines to recapitalise Lafarge Zimbabwe

Fossil Mines to recapitalise Lafarge Zimbabwe

Written by Global Cement staff 14 June 2022
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Zimbabwe: Fossil Mines plans to keep Lafarge Zimbabwe publicly traded and to recapitalise it through investments after it completes its acquisition of the company. The Insider newspaper has reported that this will lead to an increase in the company’s cement production.

Zimbabwe consumed 1.4Mt of cement in 2021, of which 560,000t (40%) was imported. Switzerland-based Holcim agreed to sell its 76% stake in national number two producer Lafarge Zimbabwe to Fossil Mines earlier in June 2022.

Last modified on 15 June 2022
Published in Global Cement News
Tagged under
  • Zimbabwe
  • Holcim
  • Fossil Mines
  • Acquisition
  • funding
  • Investment
  • development
  • Strategy
  • growth
  • Import
  • demand
  • Consumption
  • GCW561

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