Cement News tagged under: Habesha Cement Share Company

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PPC increases stake in Habesha, Ethiopia

06 November 2014, Published under Cement News

PPC has increased its shareholding in Ethiopian producer Habesha Cement Share Company to 51 per cent by acquiring the Industrial Development Corporation's (IDC) 20 per cent stake in the company for US$13m. In July 2012, PPC jointly acquired a 47 per cent stake in the Habesha Cement for US$21m, with PPC investing US$12m cash to obtain a 27 per cent stake in Habesha Cement and the IDC simultaneously investing US$9m for a 20 per cent equity stake. The balance of the shareholding is held by mo...

South Africa: PPC eyes African cement growth

14 November 2012, Published under Cement News

As South Africa entered a potentially slow growth year, rising cement demand in the rest of Africa presented strong growth opportunities for Pretoria Portland Cement (PPC), said outgoing CEO Paul Stuiver. PPC views a number of African countries, particularly Zimbabwe as good growth stories, aimed to enter four new markets in the eastern region of Africa in 2013. While the details of the potential acquisitions and greenfield projects could not be disclosed owing to confidentiality agreement...

South Africa's PPC invests in Ethiopian cement firm

26 July 2012, Published under Cement News

South Africa's Pretoria Portland Cement and a state investment body South Africa’s Industrial Development Corporation (IDC) have jointly secured a 47 per cent equity stake in the Habesha Cement Share Company (HCSCo) of Ethiopia. PPC’s US$12m cash investment secures 27 per cent in HCSCo and is a significant step in PPC’s African expansion strategy. This is PPC’s first investment into the Ethiopian and east African cement market. The IDC will simultaneously invest US$9m for a 20 per cent stak...