LAGOS – Lafarge Africa Plc has officially changed its corporate name to HBM Nigeria Plc. The announcement was disclosed in a regulatory filing to the Nigerian Exchange Limited on June Tuesday.
The name change reflects a major shift in ownership. China’s Huaxin Building Materials (HBM) completed a $1 billion takeover of the manufacturing giant, acquiring an 83% majority stake from Holcim.
Shareholders overwhelmingly approved the corporate rebranding at the company’s 67th Annual General Meeting earlier this year. The transition aligns the local cement manufacturer with its new global parent company.
Financially, the company enters this new era on solid ground. HBM Nigeria recently reported a 101% surge in profit after tax, reaching N97.95 billion for the first quarter of 2026.
Net sales also climbed 35% year-on-year to N334.88 billion during the same quarter. Management attributed the record-breaking financial growth to volume-led revenue expansion and disciplined cost management.
Group Managing Director Lolu Alade-Akinyemi stated that the new corporate identity will not disrupt current activities. The rollout will follow a phased process across its nationwide plants and operations.
The company assured investors, workers, and host communities of seamless business continuity. HBM Nigeria remains committed to delivering its massive 10.5 million metric tonnes of installed annual cement capacity.
