Displaying items by tag: administration

UK: Cleantech firm Carbon8 Systems has been placed into administration, with business advisory firm Quantuma appointed as administrator on 12 November 2025. Carbon8 Systems was founded in 2006 as a University of Greenwich spin-out, focused on research and experimental development within natural sciences and engineering. The company developed Accelerated Carbonation Technology (ACT), a patented process that captures CO₂ emissions and converts them into carbon-negative aggregates sold under the CircaBuild brand. The company also developed CO₂ntainer™, a modular solution which enabled on-site carbon capture and treatment of industrial residues.

Quantuma was instructed by the company’s board to provide advisory support in April 2025, as the company faced cash flow difficulties while seeking investment. Despite efforts to secure funding, this was not successful within the required timeframe. As part of the administration process, Carbon8’s operations at Medway Campus, University of Greenwich, and its premises at Wraxhalls storing plant will close. Eleven employees were made redundant shortly before the appointment on 10 November 2025.

Chris Newell, Quantuma managing director and joint administrator, said “It is always difficult to see a company with such innovative intellectual property (IP) be placed into administration. I expect there to be strong appeal in the assets and any parties interested in the acquisition of the IP are welcome to make contact with us.”

Saudi Arabia: Al Jouf Cement Company’s board of directors has accepted the resignation of Suleiman Abdulaziz Al-Zaben as chair of its audit committee. Al-Zaben had been serving as committee member from outside the board.

In July 2024, Al Jouf Cement Company took legal action against unnamed former board members, following an investigation into possible ‘administrative irregularities’ by an independent auditor launched in December 2023.

Kenya: Savannah Cement will sell assets including its Athi River grinding plant to compensate creditors, following its liquidation after entering administration in 2023, Business Daily has reported. Savannah Cement’s administrator PKF Kenya announced that the closing date for expressions of interest will be 16 August 2024. The company owes creditors US$139m. KCB Bank Kenya and Absa Bank Kenya, as preferential creditors, are owed US$68.5m and US$40.3m respectively, and will have their claims prioritised in the liquidation process. The forced sale value of these assets stands at US$58.6m, suggesting losses for unsecured creditors.

Kenya: Savannah Cement’s creditors voted in favour of administrator Peter Kahi’s debt reduction plan for the company on 16 April 2024. Kahi’s plan involves leasing out the site of the company’s Kitui plant, while also seeking a buyer for it.

Business Daily has reported that the Office of the Attorney General has declared Kahi's reappointment as administrator of Savannah Cement on 24 January 2024 as invalid.

Kenya: Peter Kahi of PKF Consulting has been appointed as the administrator of Savannah Cement. This follows the resignation of Harveen Gadhoke, according to the Business Daily newspaper. Gadhoke was appointed as the administrator of the company in November 2022 when Absa and KCB attempted to put it into administration due to combined debts of US$66m. Savannah Cement fought back legally against the attempt to manage it externally but a court rejected this in July 2023.

Chile: Cement shipments fell by 14% year-on-year during the first nine months of 2022, to 3.2Mt from 3.7Mt. The La Tercera newspaper has reported that a construction slowdown impacted on the cement sales of all three of Chile’s cement producers. Cbb’s despatches fell by 18%, Cementos Melón’s by 15% and Cemento Polpaico’s by 9.5%. At the same time, the producers’ expenses rose due to increased costs across transportation, raw materials, fuels, labour, administration and finance. Meanwhile, imported cement from Asia reportedly presents a cheaper alternative for customers.

France/Switzerland: Holcim plans to delist all shares from the Euronext Paris exchange. Shares in the Switzerland-based group will continue to trade on the SIX Swiss Exchange. The cement producer explained its decision in terms of its need to simplify its trading structure. It expects thereby to further reduce its administrative costs and requirements.

India: Dalmia Cement (Bharat) and Sagar Cements have submitted acquisition offers to Andhra Cements' administrator and committee of creditors. The Business Standard newspaper reported that the company owes its lenders total debts of US$118m and is valued at between US$42.5m and US$48.6m.

South Korea: Finance Minister Hong Nam-ki has announced plans for a further increase to his country’s coal imports from Australia in order to enable cement production to continue and prevent a shortage. The Yonhap News Agency News has reported that the government plans to accelerate customs clearance processes around the fossil fuel. Hong added that the government will ‘sternly deal with any illegal hoarding or price fixing’ of cement.

Kenya: Athi River Mining (ARM) Cement is preparing for liquidation and delisting from the Nairobi exchange following the failure of its administrators to revive operations. The East African newspaper has reported that PricewaterhouseCoopers advised liquidation in a letter of 19 April 2021. The joint administrators reached their conclusion based on the understanding the producer will not otherwise be able to settle in full with its creditors. The company plans to liquidate on 30 September 2021.

ARM Cement went into administration in August 2018 following a default on a loan. Its operations in Kenya were sold to National Cement in October 2019. China-based Huaxin Cement acquired its Tanzanian subsidiary Maweni Limestone in May 2020. In 2019 ARM Cement’s administrators fought an attempt by minority shareholders to buy out its majority stake in South Africa-based Mafeking Cement. In January 2021 the administrators received approval from the Rwanda Development Board’s Registrar-General to commence the liquidation of Kigali Cement.