Attock Cement Appoints Omer Ashraf as CEO After Major Ownership Change
Intelligence report synthesized for precision. Verified source updates below.
Detailed Report
Attock Cement Pakistan Limited (PSX: ACPL) has clarified that Omer Ashraf has been appointed as Chief Executive Officer, effective May 2, 2026, correcting an earlier communication, in a notice to the Pakistan Stock Exchange.
The company also clarified that Ashraf has been appointed as permanent CEO and not as acting chief executive, as mistakenly stated in previously shared intimation.
The development comes days after a major ownership change, with Kot Addu Power Company Limited and Fauji Cement Company Limited acquiring a combined 92.03 percent stake in Attock Cement, effectively taking control of the company.
Following the takeover, Lt Gen Anwar Ali Hyder has also been appointed chairman for the remainder of the outgoing chairman’s term, marking a broader leadership reshuffle at the company.
The acquisition, completed on April 24, 2026, is one of the largest recent transactions in Pakistan’s cement sector and gives Fauji Cement and KAPCO joint control of Attock Cement.
The deal was executed after a share purchase agreement signed in January 2026 and subsequent regulatory approvals, including clearance from the Competition Commission of Pakistan.
Attock Cement, incorporated in 1981 and listed on the Pakistan Stock Exchange, is a key player in Pakistan’s cement industry with a manufacturing plant in Hub, Balochistan and a production capacity built through multiple expansions over the years.
