Displaying items by tag: Zambezi Portland Cement

Zambia: Zambezi Portland Cement is facing fresh legal proceedings over its ownership. The Lusaka Times newspaper reports that proceedings at the Court of Appeal are ongoing against businessman Phesto Musonda. Musonda, a former director of the company, allegedly attempted to take control of part of the company’s plant in September 2021. Unrest has also been reported at the cement producer’s plant with youths throwing stones at workers.

The current owners of Zambezi Portland Cement, the Ventriglia family, previously won a 10-year battle of control of the company against businessman Rajan Mahtani. In 2018 the High Court of Zambia awarded the family full ownership of the business.

Zambia: Zambezi Portland Cement has allowed retail purchases directly from its integrated Ndola plant to reduce price exploitation. Chief executive officer Gomeli Litana said that the plant had made the decision to help small consumers, according to the Times of Zambia newspaper. He added that the producer was implementing a fixed price and was not attempting to interfere in the general retail market.

Zambia: Zambezi Portland Cement has spent Euro23m on an upgrade to its plant. Chief Executive Officer (CEO) Gomeli Litana said that the upgrade was necessary due to the high demand for cement, according to the Zambia National Broadcasting Corporation. He added that the expansion was likely to reduce the cost of cement.

Zambia: The Ventriglia family has been awarded full ownership of Zambezi Portland Cement by the High Court of Zambia. The resolution follows a 10-year battle between the Ventriglias and businessman Rajan Mahtani, according to the Times of Zambia. Mahtani’s company Finsbury Investments claimed a majority share in the cement producer but the Ventriglia family objected, asserting full ownership of the company.

Zambia: The High Court of Zambia has set 25 February 2018 as the date it will hand down a judgement on a case involving Zambezi Portland Cement (ZPC) between businessman Rajan Mahtani and the Vetriglia family. The case concerns a battle over the shares and management of the company between Mahtani and members of the Vetriglia family, according to the Times of Zambia. Mahtani originally attempted to close the company in 2015 but the original owners resisted the attempt. However, Mahtani maintains that he holds a majority share in the cement producer.