ARM’s New Owner to Retain Employees After 14 Months of Job Loss Anxiety
The announcement by Devki Group, which owns National Cement, is a major relief to the 1,100 employees of Athi River Mining Company.
ARM administrators rejected higher bid for troubled company
Financially troubled cement manufacturer ARM administrators PricewaterhouseCoopers (PwC) are set to come under scrutiny over reports that they rejected a Ksh6.5 billion bid for the company's assets tabled by former CEO and sitting board member Pradeep Paunrana. In a letter to creditors, PwC confirmed that...
Turning 50, wines and spirits firm plans Sh3bn factory
Kenya Wine Agencies Ltd (KWAL) is set to construct a modern manufacturing facility in Tatu City, Thika, as part of its efforts to increase local production. Groundbreaking for the facility, estimated to cost Ksh3 billion, is planned for next year. This is in addition to...
Longer wait for ARM to cement financial results
ARM Cement will not file its financial results in time. The cement manufacturer, which is currently under administration, received approval from the Capital Markets Authority (CMA) to delay publishing its financial results. Through ARM Cement's administrators, the company announced that its financial statements will be ready...
Retaining management key in recovery for firms under administration
An administrator should perform the management/board functions in the interests of the company’s creditors and other stakeholders
ARM Cement woes deepen with NSE suspension
Trading of company's shares suspended days after executive wing lost control of the company's operations