BACKGROUND INFORMATION
The West African Portland Cement Company started production of its elephant brand in 1960 utilizing a 5-million-pound investment put up by Associated Portland Cement Manufacturers (APCM), the Western Nigeria Development Company and U.A.C. The company was founded at a time the factory, tariff and shipping cost of importing cement was double the ex-factory price, giving local cement manufacturers a fair advantage over competing foreign suppliers. In year 2000, 2,607,407,358 shares of WAPCO were sold by the FGN/BPE to a reputable cement manufacturer, Blue Circle industries. Blue Circle is now a member of the Lafarge Group.
Name of Enterprise
West African Portland Cement Company (WAPCO)
Name of Investor
Individuals & Institutional Investors
Reform Strategy
Share Floatation
Date of Transaction
2000
Cost of Transaction
N2,944,708,000.00
Concession Tenure
Nil
Status
Operational
