Cement News tagged under: Afrisam
AfriSam CEO: AfriSam's new Lesotho plant to help country's growth17 February 2017, Published under Cement NewsAfriSam cement manufacturing plant in Lesotho will add to the growth prospects of the country, AfriSam CEO, Stephan Olivier, says of the newly-commissioned 0.2Mta cement plant. Mr Olivier made the remarks during the launch of Lesotho's first cement manufacturing plant which was officially opened by Lesotho’s Prime Minister, Dr Pakalitha Mosisili, last week. He indicated that the new cement plant comfortably meets the local cement demand and is capable of producing specialized products for... |
PPC will strengthen its hand with AfriSam merger17 February 2017, Published under Cement NewsThe focus of a potential merger in South Africa between two major cement producers caught the eye this week. PPC and AfriSam already have a significant stake in the country’s cement market and by merging PPC would extend its dominance to control some 60 per cent of domestic sales, if it accepts AfriSam's offer to merge. As recently as November, PPC’s chief executive, Darryll Castle, suggested that there were too many cement companies operating in the country and that consolidation was requ... |
PCC and AfriSam in merger talks13 February 2017, Published under Cement NewsPPC is in merger talks with its nearest competitor, AfriSam Group, seeking to overcome valuation disagreements that prevented the completion of previous tie-up efforts, according to Reuters. AfriSam first proposed the merger in 2014, when infighting between the PPC board and its former CEO has put downward pressure on PPC’s share price. However, shares in PPC have performed significantly better, increasing by a third this year to date. The cement producer is valued at about ZAR11bn (US... |
Consolidation needed in South African market claims PPC chief18 November 2016, Published under Cement NewsDarryll Castle, chief executive of PPC, has said that he believes there are too many cement companies operating in South Africa, adding that necessary consolidation would leave his firm in a stronger position, the Zimbabwe Herald reports. Mr Castle told the newspaper that PPC was “keeping and eye on the whole industry” and refused to comment on claims that merger talks had been reopened between his firm and the AfriSam Group. “In the longer term, there’s no doubt that there needs to be... |
South Africa: AfriSam to encourage enterprise development in Bafokeng08 June 2016, Published under Cement NewsAt a ceremony held at Phokeng, North West Province, AfriSam and New Business Consulting, a 100 per cent Broad-Based Black Economic Empowerment (B-BBEE) Bafokeng-owned company, signed a Memorandum of Understanding (MoU), cementing a partnership to facilitate enterprise development and creating job opportunities for the Royal Bafokeng Nation. As part of the MoU, a number of enterprise development opportunities within the Bafokeng area have been identified and are currently being investigated... |
AfriSam breaks ground on new Lesotho facility18 March 2016, Published under Cement NewsAfriSam has broken ground on a blending and packing facility with an initial capacity of 0.2Mta at the company’s existing distribution centre in Maseru, Lesotho, South Africa. Completion is scheduled for 3Q16. AfriSam has partnered with a local company, Cement Industries Ltd, to co-invest in the new plant project. “AfriSam’s new plant will comfortably meet the local cement demand and will be capable of producing specialised products for large infrastructure projects such as the Lesotho H... |
PPC and AfriSam call off merger talks30 March 2015, Published under Cement NewsSouth African cement producers PPC and AfriSam have called off merger talks after they could not reach a consensus on the terms, both the companies said on Friday. Last December PPC confirmed it had received a conditional, non-binding merger proposal from AfriSam. Following "extensive discussion" between the two companies, the parties have not been able to reach consensus on the terms of the merger and therefore have terminated their discussions," PPC said in a statement on Friday. ... |
PPC continues to study AfriSam proposal, South Africa12 March 2015, Published under Cement NewsPPC said that its board is continuing to consider the indicative non-binding proposal from AfriSam Group for a merger between the two South African cement producers. The company said it would make a further announcement in due course once its board had concluded the consideration process. “Shareholders are hereby advised that the Board is continuing to consider the indicative proposal and PPC will make a further announcement in due course once it has concluded its consideration proces... |
PPC03 February 2015, Published under Cement NewsPPC’s earnings in the six months to the end of March 2015 could tumble by between 25 and 45 per cent YoY, according to a recent company trading statement. Despite positive cement sales, consolidation of Safika Cement (South Africa) and growth in both Zimbabwe and Botswana, the operating environment in South Africa is expected to remain challenging in both 2015 and 2016. Much of the decline is blamed on weak economic growth and power shortages although increased competition is also taking its... |
South Africa: PPC receives merger offer from AfriSam11 December 2014, Published under Cement NewsSouth Africa’s leading cement producer, PPC, has received a merger offer from local rival AfriSam that would create a dominant player in the country. “The Board is considering the indicative proposal and will make a further announcement in due course once it has concluded its consideration of the indicative proposal,” PPC said in a statement today. PPC has been embroiled in a boardroom battle since former CEO Ketso Gordhan resigned in September, leading some industry commentators to spec... |