By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Cement manufacturers, Lafarge Africa Plc has announced  Nigerian Cement Holdings B.V. (NCH), its 50 percent affiliate has completed the acquisition of the first 15 percent tranche stake in UNICEM, bringing NCH’s stake in UNICEM to 85 percent, according to the cement producer in an issuer’s announcement with the Nigerian Stock Exchange (NSE).

The notice says NCH has completed the acquisition of the second and final tranche of 15 percent of equity interest of Flour Mills of Nigeria Cement Industries in UNICEM.

According to the statement, NCH now owns 100 percent of UNICEM and consequently Lafarge Africa now owns 50 percent of the equity of UNICEM.

The Company stated that UNICEM’s operational office is located in Calabar and its manufacturing plant in Mfamosing, Cross Rivers State. It currently has a cement production capacity of 2.5Mtpa and is developing a second production line of 2.5Mtpa. The second production line is targeted to be commissioned in 2016 to bring UNICEM’s total production capacity to 5.0Mtpa.