Cement maker Lafarge Africa renamed HBM Nigeria Plc

Lafarge Africa, acquired by Chinese investors from the Swiss-based Holcim Group last year, has adopted HBM Nigeria Plc as its new name.

According to a regulatory filing sighted on Tuesday, the cement maker’s new name tallies with the company’s long-term goals and its resolve to better serve stakeholders.

“The name change received full shareholder approval at the Annual General Meeting (AGM) held on the 30th of April 2026,” the company stated in the Nigerian Exchange filing.

“The Corporate Affairs Commission (CAC) has officially approved and issued the Certificate of Incorporation reflecting the name change,” it added.

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In December 2024, Lafarge Africa disclosed that the Holcim Group had entered into a share purchase agreement with Huaxin Cement, headquartered in Wuhan, China, to acquire an 83.1 per cent stake in the company.

Until it divested its interest in Lafarge Africa, the Holcim Group held the controlling stake through Caricement BV and Associated International Cement Limited.

Regulatory hurdles, including a Senate directive ordering the Bureau of Public Procurement to halt the transaction last March, meant it was not closed until nine months after it was first made public.

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“We cannot afford to wake up one day and realise that our cement industry, one of the backbones of our economy, is entirely in foreign hands,” said Shuaib Salisu, the senator representing Ogun Central, who raised the motion at the upper legislative body at the time.

The acquisition was valued at $1 billion (approximately ₦1.6 trillion) when the deal closed last August.

The first major expansion project under the new majority owner—a planned capacity increase of the Ashaka Cement plant in Gombe to 2MT and the Shagamu plant to 3.5MT—was announced early this year.

HBM Nigeria assured shareholders in the statement that their current share certificates and electronic holdings remain valid, despite the name change. They will be updated automatically by the registrars, it said.