Cement News tagged under: PPC
Changes to PPC executive team24 August 2017, Published under Cement NewsPPC has appointed Njombo Lekula as managing director of its Southern African Cement division. Previously the managing director of Rest of Africa Cement, Mr Lekula has been with PPC for 27 years, holding a number of cement manufacturing and executive management roles. Meanwhile, Mokate Ramafoko has been appointed as the managing director of Rest of Africa Cement. He is a chemist by profession with over 23 years of experience in the cement manufacturing, quality assurance and cement process... |
PPC 1Q17 results in line with expectations21 August 2017, Published under Cement NewsPPC revenue for the period ended 30 June 2017 (1Q17) is ahead YoY while group EBITDA is in line with the year-ago period. The advance has been attributed to good cost management. Johan Claassen, interim CEO, said: "Our focus is firmly on delivering improved profitability and liquidity in the shorter term while our longer term strategy remains unchanged. More specifically, we will focus our management effort on the new operations in the DRC and Ethiopia, ensuring that they deliver to expec... |
PPC's CEO is to resign24 July 2017, Published under Cement NewsDarryll Castle, Pretoria Portland Cement's (PPC) CEO, is stepping down to pursue other interests. PPC announced in a statement that Mr Castle will still be available to the group for six months to ensure a smooth handover. Johan Claassen, managing director of the South African cement business, has been appointed as interim chief executive. PPC reported a 93 per cent decline in full-year earnings in June, due to a liquidity crisis precipitated by the cut in ithe company's credit rating... |
PPC revenue growth supported by rest of Africa cement business08 June 2017, Published under Cement NewsPPC reported that group revenues for the year ending March 2017 rose by five per cent to ZAR9641m (US$750m). The growth was supported by the rest of Africa cement business where revenues rose by nine per cent, and the aggregates and ready-mix segment which saw revenues increase by 23 per cent. Group EBITDA decreased by 13 per cent to ZAR2065m while the EBITDA margin achieved was 21.4 per cent (March 2016: 26 per cent). The decline was mainly attributable to the southern Africa cement seg... |
PPC achieves two major milestones as part of its expansion strategy21 April 2017, Published under Cement NewsAs part of its expansion strategy, PPC announced this week the inauguration of its Ethiopian operation, Habesha Cement, and the first truck dispatch load of saleable cement from its plant in the Democratic Republic of the Congo. The inauguration of Habesha Cement marks the completion of the construction of the factory and installment of the technical and non-technical systems.The ceremony, officiated by the Prime Minister of Ethiopia, Ato Hailemariam Desalegn, was held at the plant in Hole... |
Zimbabwe: President Mugabe opens PPC cement grinding plant in Harare30 March 2017, Published under Cement NewsPPC's US$85m cement 0.7Mta grinding plant at Msasa, Harare, has been officially opened by President Robert Mugabe. The plant is PPC’s third production site in the country. The facility features a cement ball mill with dynamic separator and road and rail off-loading facilities. This is in positioning PPC to meet local demand, as well as boost the country’s ability to export to the region. The PPC's collective capacity now stands at 1.4Mta, allowing the firm to export further to its neig... |
AfriSam reported to replace CEO ahead of PPC merger17 March 2017, Published under Cement NewsTo help enable the merger with rival PPC, AfriSam is set to replace its CEO, Stephan Olivier after nearly seven years of leading the firm, according to local press reports in South Africa. He would be replaced on a short-term contract by Rob Wessels, a former chief investment officer at AfriSam's black empowerment partner Phembani Group. The new management team would potentially implement the merger with PPC through a reverse of AfriSam into its competitor's listing, two of the source... |
South Africa's proposed carbon tax could cost PPC ZAR90m15 March 2017, Published under Cement NewsSouth Africa’s proposed draft carbon tax bill published in November could see PPC liable for an estimated ZAR90m in carbon tax, according to Pretoria News. However, PPC CEO, Darryl Castle, said the cement producer was currently looking at a number of initiatives to reduce this tax burden. He added that the tax regime did not apply to imports into South Africa. Furthermore, he said it had not been meaningfully implemented elsewhere and Australia had scrapped a similar initiative due to the... |
South Africa: rain dampens PPC Jan-Feb sales14 March 2017, Published under Cement NewsPPC announced that adverse weather had negatively affected its cement and concrete sales in South Africa during January and February 2017. Rainfall in excess of 200mm was experienced in many parts of the country during these two months. The cement manufacturer said it managed to reduce net debt to ZAR4.4bn (US$333.13m) as of December 2016 due to the conclusion of a component of the first empowerment transaction. PPC concluded Strategic Black Partners (SBPs) and Community Service Groups (C... |
Zimbabwe: PPC capacity utilisation “less than ideal”10 March 2017, Published under Cement NewsThe managing director of PPC Zimbabwe, Kelibone Masiyane, has admitted that his firm’s capacity utilisation is “less than ideal” due to the downturn in the country’s economy, the Chronicle writes. Mr Masiyane said that reduced economic activity had led to a drop in demand for PPC’s output but insisted that conditions would improve in the short- to medium term. In November PPC Zimbabwe expanded its capacity in the country with the opening of a new grinding plant in Harare. |