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ARM Cement writes off assets in South Africa

ARM Cement writes off assets in South Africa ....

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ARM finally wound up, creditors to take home $104m debts

ARM finally wound up, creditors to take home $104m debts
theeastafrican.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theeastafrican.co.ke Daily Mail and Mail on Sunday newspapers.

South Africa , North West , South African , Muniu Thoithi , Maweni Limestone Ltd , Kenya Revenue Authority , National Cement Company Ltd , Tanzania Revenue Authority , Rwanda Development Board Registrar , United Bank , Tanzania Ltd , Kigali Cement Company Limited , George Weru , Insolvency Act , Maweni Limestone , Rwanda Development Board , Registrar General , Mafeking Cement , வடக்கு மேற்கு , கேந்ய வருவாய் அதிகாரம் , தேசிய சிமென்ட் நிறுவனம் லிமிடெட் , தான்சானியா வருவாய் அதிகாரம் , ஒன்றுபட்டது வங்கி , தான்சானியா லிமிடெட் , நொடித்துப்போனது நாடகம் , ருவாண்டா வளர்ச்சி பலகை ,

ARM Cement preparing for liquidation in September 2021

ARM Cement preparing for liquidation in September 2021
Written by Global Cement staff
29 April 2021
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 ....

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