Ray­sut Ce­ment eyes Kenya’s ARM to power its ex­pan­sion in Africa

The ac­qui­si­tion of the ma­jor African pro­ducer and sup­plier is es­ti­mated to cost $100 mil­lion

Times of Oman - - MARKE -

MUS­CAT/KENYA: Oman’s largest ce­ment man­u­fac­turer, Ray­sut Ce­ment Com­pany is eye­ing ac­quir­ing ARM Ce­ment of Kenya as part of the com­pany’s ag­gres­sive strat­egy to ex­pand in East and Cen­tral Africa.

ARM Ce­ment, which is a pro­ducer and ma­jor sup­plier of ce­ment in Kenya and Africa in gen­eral re­cently went into ad­min­is­tra­tion with a debt of over $140 mil­lion and Ray­sut has ex­pressed its in­ter­est to the ad­min­is­tra­tors to ac­quire the com­pany, a state­ment re­leased said on Tues­day.

sup­plies to in East Africa. early as Jan­uary 2019. Ray­sut is also in ad­vanced ne­go­ti­a­tions with Kam­pala Ce­ment.

Ray­sut Ce­ment is one of the ma­jor clinker sup­pli­ers to the East African re­gion and the ARM as­sets will fit very well with its plans for East Africa where in the last quar­ter alone it sup­plied over 300,000 tonnes of clinker from its home plant at Salalah, Oman to Kenya and Tan­za­nia.

Ac­cord­ing to in­dus­try reports, Joey Ghose, the Group CEO of Ray­sut Ce­ment had pre­sented a five-year strat­egy to grow Ray­sut Ce­ment into a 20 mil­lion tonne com­pany by 2022.

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