Cement News tagged under: Afrisam
South African merger talks: make or break?01 September 2017, Published under Cement NewsFollowing the collapse of a second round of talks between South Africa's two leading cement producers on a proposed merger, will AfriSam's expected new proposal be enough to push negotiations through and be a case of third-time lucky? Last Friday AfriSam confirmed that it had cancelled the Heads of Terms it had entered into with PPC, which would have led to a formal merger agreement but says it remains committed to pursuing a deal. "AfriSam remains firm that a transaction between AfriSam a... |
AfriSam to come up with new merger plan30 August 2017, Published under Cement NewsMerger talks between South African cement producers AfriSam and PPC have been terminated after AfriSam retracted the heads of terms (HoT) that were entered into in February. PPC on Friday said AfriSam planned to rather submit an undisclosed new proposal regarding a possible combination of the two companies. AfriSam acting chief executive, Rob Wessels, said the company remained committed to pursuing a transaction and intended to submit a new proposal regarding a possible merger to PPC. ... |
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... |
PPC27 February 2017, Published under Cement NewsSouth African cement manufacturer PPC is reportedly in talks with its nearest rival AfriSam Group over a possible merger. Merger talks first took place in 2014 when PPC’s share price came under pressure. Today PPC is valued at around US$823m and has borrowed heavily of late to build new capacity in Ethiopia, Rwanda, Zimbabwe and the Democratic Republic of Congo. However, the slow implementation of infrastructure investment in its home market and the loss of its investment grade debt ratin... |
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... |