Loss-making ARM Cement #ticker:ARM has been placed under administration in a move aimed at giving the debt-laden firm a lifeline to recover by keeping away creditors from attaching its property.
Muniu Thoiti and George Weru of PricewaterhouseCoopers (PwC) took over the management of the cement maker on Friday, audit firm said in a paid up statement in the dailies on Saturday, days after embattled chief executive Pradeep Paunrana vacated executive roles.
