Business
Director Appointment
Director Appointment.
About this update from Steppe Cement Ltd
[{"type":"text","content":"\n RNS Number : 4486K Steppe Cement Limited 19 December 2008 \n \n\nSteppe Cement Limited\n\n19 December 2008\n\n\nAppointment of Non-Executive Chairman\n\nSteppe Cement Limited ('Steppe' or the 'Company') is pleased to confirm the appointment of Mr Malcolm Ronald Brown to its Board of Directors with immediate effect as a non-executive chairman. \n\nMr Brown, 62 years of age, is a UK national with a background as an analyst and corporate finance adviser. He has significant experience with the European building materials sector and has been involved in a number of cement related transactions. \n\nMr Brown worked with HSBC Investment Bank and its predecessor James Capel for 34 years as a director, senior analyst and adviser until his retirement in 2006. The research output, supported by a strong specialist sales team, enabled James Capel and subsequent to its purchase, by HSBC, to establish a leading position in the building material and construction sector in both the primary and the secondary market. This was reflected in the external poll ratings and the expanded number of corporate brokerships. \n\nSome of the mandates in which Mr Brown was actively involved included the privatisation of the cement industry in Serbia and those in Algeria. In the former case following the cessation of hostilities it was decided in 2001 that the three plants Beocin, Novi Popovac and Kosjeric should be sold and following a successful competitive auction, which was fast-tracked these were acquired by Lafarge, Holcim and Titan respectively. In Algeria HSBC won the mandate to advise the government on the sale of its cement assets and it was decided to prepare three out of the twelve plants for auction. Regrettably, although this had proceeded a long way, even to soliciting offers from international cement groups, the government withdrew at the eleventh hour in the face of strong union opposition. \n \nWhilst at HSBC Mr Brown was also engaged to find acquisitions on the Indian sub continent for Holcim (Switzerland), Cimpor (Portugal) and Votorantim (Brazil). He has also worked with Vicat and Ciments Francais on opportunities in Egypt...