No agenda behind rebranding of Alpha

Posted On Tuesday, 03 February 2004 02:00 Published by eProp Commercial Property News
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Alpha, one of SA's three largest cement producers, says its R29m rebranding exercise is not indicative of intentions by its largest shareholder to up its stake in the South African company

Construction IndustryAlpha, one of SA's three largest cement producers, says its R29m rebranding exercise is not indicative of intentions by its largest shareholder to up its stake in the South African company.

Swiss company Holcim owns 54% of Alpha, which was renamed Holcim SA from yesterday. South African-listed construction group Aveng owns the remainder of the company.

Holcim SA MD Karl Meissner-Roloff yesterday denied that the move was a step towards a possible takeover of the company by its Swiss shareholder.

Meissner-Roloff said there was "no agenda" behind the rebranding exercise, to be completed by end of the year. He said the name change was part of a "major international brand alignment exercise" by Holcim in the 72 countries in which it operates.

"The intended benefit is that in future Holcim Group companies will be able to leverage off the strong international brand Holcim is busy building as one of the world's major cement producers," said Meissner-Roloff. He said the rebranding move was a strong vote of confidence in SA.

Holcim and Aveng made a successful offer to buy out the minorities in Alpha and the company was delisted from the then Johannesburg Stock Exchange in 1998. The Swiss company upped its stake in Russia-based Alpha Cement earlier this month to about 69%.

Holcim SA was expected to be one of the best performing divisions in the Aveng stable in its financial year to June.

 

Last modified on Thursday, 24 October 2013 15:49

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