Cement News tagged under: Pretoria Portland Cement
PPC in US$133m deal with black investors12 July 2012, Published under Cement NewsSouth African cement maker Pretoria Portland Cement (PPC) is to sell a 6.5 per cent stake to its staff and black investors in a deal worth about US$133.4m. PPC said the broad-based black economic empowerment (BBBEE) deal, which is the second in four years, would take shareholding by black investors in its South African operations to 26 per cent and enable it meet the rules set out by the government. PPC said on Thursday it would cancel about 20 million treasury shares it bought back to ... |
PPC first-half sales rise eight per cent, South Africa17 May 2012, Published under Cement NewsPretoria Portland Cement, South Africa’s largest cement producer, reported an eight per cent rise in first-half profit (ending March 2012) and forecasts rises in regional demand. Net income rose to ZAR369m (US$45m) in the six months through March, from ZAR343m a year earlier. Cement sales volumes declined 3% for the period under review, mainly as a result of weak demand in the Western Cape and Botswana markets. However, group revenue increased by 8% to ZAR3.529bn as a result of favourabl... |
PPC chief executive to step down at year-end, South Africa28 March 2012, Published under Cement NewsThe chief executive officer of South Africa’s Pretoria Portland Cement (PPC), Paul Stuiver, says he will stay on until the end of the to see the recruitment process for his successor through as his three year contract comes to an end. PPC is seeking a replacement for Mr Stuiver whose contract agreement ends in May. Mr Stuiver has agreed to stay on until year-end to allow for the completion of “critical commercial projects and for the recruitment process,” South Africa’s Business Daily rep... |
Zimbabwe: PPC to empower community, workers13 February 2012, Published under Cement NewsPretoria Portland Cement (PPC) has agreed to transfer 10% of its shareholding to the Community Share Ownership Scheme to comply with the indigenisation and empowerment laws. The indigenisation and empowerment laws require foreign-owned firms to sell at least 51% of their shareholding to indigenous people. Informed sources say that PPC, in its plan to government, said it would also extend a cumulative 5% shareholding of the company to its workers. Workers owned 1.3% of the company before the... |
South African January sales rise 22%10 February 2012, Published under Cement NewsSouth African cement sales increased by 22 per cent YoY in January 2012 to 779,003t compared to 638,749t in 2011, data released by the Cement and Concrete Institute (CNCI) showed. The moving annual total for the last 12 months was up five per cent YoY to 11.37Mt and also had two less selling days that the year before. Earlier this month, the country’s leading producer Pretoria Portland Cement, said it was cautiously optimistic on the country’s outlook this year. “Current trends in cem... |
PPC ‘cautiously optimistic’ on demand outlook31 January 2012, Published under Cement NewsSouth Africa’s leading cement producer, Pretoria Portland Cement (PPC) said it is ‘cautiously optimistic’ about the cement demand outlook for its domestic and Zimbabwe markets. “Current trends in cement demand and prices should improve results during the first half of our 2012 financial year,” the company said in a statement on Monday. South African cement producers continued to experience a difficult trading environment last year due to delayed or cancelled government projects and su... |