Scancem increases ownership in Tanzanian cement factory

Scancem increases ownership in Tanzanian cement factory Scancem International, the business area in the Scancem building materials group working with international cement operations, and Swedfund International, a government-owned venture capital company, has closed a deal with the Tanzanian authorities about acquiring 28 and 6 percent respectively of the shares in Tanzania Portland Cement Company. It is the biggest cement manufacturer in the country with a plant outside the capital of Dar es Salaam. Since 1992, Scancem and Swedfund each own 13 percent of the shares in the company and will now have ownerships of 41 and 19 percent respectively. The divestment of the shares is a further step in the Tanzanian authorities work on the privatization of the country's industry. During the 1980s, Swedish development agencies invested substantial amounts of money in rebuilding and repairing the plant. Scancem International has shareholdings in the cement industries of several countries in Africa and has had the managementment responsibility for the plant in Tanzania for many years. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/09/11/19980911BIT00120/bit0001.doc http://www.bit.se/bitonline/1998/09/11/19980911BIT00120/bit0002.pdf