Lafarge to change to Khayah Cement

CEMENT manufacturer, Lafarge Cement Zimbabwe Limited has revealed plans to change trade name to Khayah Cement which is subject to finalisation of the registration of the trade name by the Registrar of Companies.

The firm is also reconstituting the composition of the board of directors and board committees.
In recent weeks, Lafarge has been in the limelight as events unfolded.

Last Friday, trading of its shares on the Zimbabwe Stock Exchange (ZSE) was suspended for a three-month period. This was at the request of the cement manufacturing firm.

Lafarge, one of the biggest cement producers, finalised the agreement to sell 76, 45 percent of its stake owned by Associated International Cement Limited to Fossil Mines.

On Friday, acting company secretary, Mr Arnold Chikazhe said the exit of Associated International Cement Limited from the business necessitated the change of name.

“The Board of Directors of Lafarge Cement Zimbabwe Limited would like to inform shareholders and valued stakeholders that following the exit of Associated International Cement Limited from the business, the Company will now be trading as Khayah Cement pending finalisation of the registration of the trade name by the Registrar of Companies.

In June last year, Fossil Mines (Private) Limited entered into a binding agreement to buy 76,45 percent shares in Lafarge Zimbabwe.

Mr Chikazhe said the company is reconstituting the composition of the board of directors as well as the necessary Board Committees.

“In this regard the announcement of the relevant appointments will be made shortly. The public is however advised that these processes will have no material effect on either the quality or availability of any of the company’s range of products as well as its overall operations,” he said.-chronicle.co.zw