Nova Cimangola

from Wikipedia, the free encyclopedia

Nova Cimangola SA is the largest cement manufacturer in Angola . The production capacity is 2.4 million tons of cement and 1.5 million tons of clinker per year. It has a market share of 35%. The company is located at Estrada Cacuaco km 14 in Luanda .

history

The company was founded in 1957 in what was then the Portuguese colony of Angola. After the country gained independence in 1975, it was nationalized. In the 1990s, the state sold 49% of the company's shares to the Swiss HOLCIM group. In 2004 HOLCIM sold its shares to the Portuguese company Cimpor .

Two years later, the company Ciminvest of the president's subsidiary Isabel dos Santos acquired the shares of Cimpor for 74 million US dollars in partnership with the Portuguese Amorim group (headed by Américo Amorim ). The capital came from its own resources and a loan from Banco BIC Português , in which Isabel dos Santos and Américo Amorim each held 25% of the shares.

In 2009 there was a capital increase on the part of the private partners, which reduced the state share in the company to 28.13%. In July 2012, Nova Cimangola acquired 53% of the state-owned Cimenterie Nationale (CINAT) cement plant in the Democratic Republic of the Congo for $ 40.6 million.

In 2014, the shareholders decided to build a new clinker factory, in which the Angolan state took a 28% stake. The new production facility in Cacuaco was inaugurated in July 2017 . It was built by the Chinese company Sinoma International Engineering for 400 million US dollars. It replaced the old production facility in Kikolo , which had only limited limestone reserves. Previously, the company spent up to $ 70 million annually importing clinker.

Sales development

Due to the lower demand for building materials as a result of the financial crisis in Angola, the total production of the five cement companies in the country (Cimangola, CIF, FCKS, Secil Lobito and Cimenfort) has continued to decline in recent years. While the capacity utilization of the production facilities was still 64% in 2015, it fell to 48% in 2016, to 30% in 2017, to 26% in 2018 and to 18% in 2019. In contrast, Nova Cimangola's cement sales were 100,000 tonnes per month until January 2020, but the sales price had to be reduced.

controversy

The Luanda Leaks - in which the nepotism under President José Eduardo dos Santos was exposed - shows that the company prematurely paid dividends to Isabel dos Santos' company Ciminvest so that it could repay the loans earlier. The chairman of the board of directors of Nova Cimangola is Isabel dos Santos' husband Sindika Dokolo .

Web links

Individual evidence

  1. ↑ Nova Cimangola SA ebaoxford.co.uk , accessed February 15, 2020 (English)
  2. ↑ Nova Cimangola II cemnet.com , January 29, 2018, accessed on February 15, 2020 (English)
  3. ↑ Américo Amorim é sócio de empresa maioritária na Nova Cimangola jornaldenegocios.pt , October 16, 2006, accessed on February 21, 2020 (Portuguese)
  4. ↑ RD Congo: la Cimenterie Nationale passe sous le contrôle de Nova Cimangola agenceecofin.com , July 20, 2012, accessed on February 18, 2020 (French)
  5. ↑ Nova Cimangola inaugurates new cement plant in Luanda globalcement.com , July 17, 2017, accessed on February 15, 2020 (English)
  6. ↑ Nova fábrica vai “cobrir deficit de clínquer em Angola” construir.pt , July 12, 2017, accessed on February 15, 2020 (Portuguese)
  7. ↑ Indústria de cimento nacional vende apenas 18% da sua capacidade de produção instalada cidadela.online , November 14, 2019, accessed on February 15, 2020 (Portuguese)
  8. ↑ Preço do cimento está em retracção jornaldeangola.sapo.ao , January 24, 2020, accessed on February 15, 2020 (Portuguese)
  9. ↑ Luanda Leaks. Jaime Esteves deixa de liderar departamento de fiscalidade da PwC, firma que trabalhava com Isabel dos Santos observador.pt , January 21, 2020, accessed on February 15, 2020 (Portuguese)
  10. ↑ Quem é Sindika Dokolo, o homem na sombra de Isabel dos Santos? sabado.pt , January 22, 2020, accessed February 15, 2020 (Portuguese)