28 June 2018 ( Lagos ) :Subject to regulatory approval, the boards of Cement Company of Northern Nigeria (CCNN) and Kalambaina Cement Company (KCC) have agreed on terms concerning a merger of the two companies. The merger will be carried out by means of share exchange, with CCNN being the resultant entity. 

BUA Group (parent company of both entities) recently carried out an expansion of its cement production operations in Sokoto state, inaugurating a 1.5 million MT production plant in KCC. Coupled with CCNN’s current 500,000 MT capacity, analysts expect the expansion and merger to put CCNN in a better position to take advantage of analyst’s strong volume outlook for Nigeria’s cement sector. 

Source: Analysts at Vetiva Capital Management

Reporting for EasyKobo on Thursday, 28 June 2018 in Lagos, Nigeria