This archive report was first published on 15 October 2019.
On October 14th, 2019, National Cement Company, the new owner of Athi River Mining, announced that it would retain all 1,100 employees who had been left in suspense for 14 months since their employer was placed under administration.
The decision was made by Nerandra Raval, chairman of Devki Group, which owns National Cement, in a bid to protect the employees' livelihoods and support job creation.
ARM Cement, previously under administration, was placed under the control of PriceWaterhouseCoopers (PwC) on August 17, 2018, after running into financial difficulties.
ARM operations in Kenya include clinker and cement grinding plants in Kaloleni and Athi River.
According to Mr. Raval, the decision to retain all employees was a crucial step in supporting the government's Big Four Agenda on manufacturing and affordable housing.
With the acquisition, Devki Group has become one of the biggest direct employers in the country, with 6,000 local workers, and the second-largest cement manufacturer in Kenya after Bamburi Cement.
Mr. Raval stated that the increased supply of construction materials like steel and cement in the market will significantly reduce prices and overall construction costs, making it easier for more Kenyans to own homes.
