Cement News tagged under: PPC

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PPC

24 August 2015, Published under Cement News

PPC has held a groundbreaking ceremony for its new 0.7Mta cement works in Msara, near Harare, Zimbabwe. The US$80m plant, which will become the company’s second facility in the country, is due to be commissioned in the second half of this year. The plant is currently under construction by China’s Sinoma International Engineering. “While our existing plant in Bulawayo has positioned us well in Matabeleland, it is clear that much of the country’s future growth centres around Harare and north...

PPC hosts groundbreaking ceremony for Zimbabwe plant

11 August 2015, Published under Cement News

PPC has held a groundbreaking ceremony for a new 0.7Mta plant in Msasa, Zimbabwe. The US$80m plant will be the company’s second cement facility in the country.  Speaking at the event, Njombo Lekula, the managing director of PPC, said the investment PPC was making in the Msasa plant was a vote of confidence in Zimbabwe’s future. “PPC Zimbabwe is looking to the future of the country, with today’s event providing a promise of things to come. While our existing factory in Bulawayo has positio...

S&P downgrades PPC on increasing debt

07 July 2015, Published under Cement News

Standard & Poor's Ratings Services (S&P) has lowered its long-term South Africa national scale rating on heavy building materials producer PPC Ltd to 'zaA' from 'zaA+'. At the same time, it affirmed the 'zaA-2' short-term South Africa national scale rating on PPC. S&P said it expects PPC’s net financial debt to increase materially over the near-term due to its increased capital expenditure on expansiory projects in the Sub Saharan region. The company’s strategy is to grow its Sub-saharan ac...

CBMI signs EPC contract for PPC line

23 June 2015, Published under Cement News

CBMI has signed a 3000tpd clinker production line EPC contract with PPC, marking the first collaboration between the two companies. The new kiln line 9 project will be located at PPC's Slurry cement plant near Lichtenburg, South Africa's North West Province, about 250km from Johannesburg. Tong Laigou, Chairman of the Board of CBMI and Darryl Castle, CEO of PPC, signed the contract in the presence of senior staff from both companies. The scope of the contract covers the additive stockp...

PPC's first-half revenue lifted by higher Zimbabwe, Botswana and Rwanda volumes

19 May 2015, Published under Cement News

PPC’s group cement sales volumes rose by five per cent above last year's figure, with strong demand growth in its African businesses offsetting lower demand in the core South African business. PPC’s revenue increased by nine per cent to ZAR4541m (2014: ZAR4157m) for the half year ended March 2015, on the back of increased volumes in Zimbabwe, Botswana and Rwanda, as well as the consolidation of sales from Safika Cement and Pronto Readymix. Cement selling prices declined in South Afric...

South Africa imposes duties on Pakistan cement imports

18 May 2015, Published under Cement News

South Africa has imposed provisional anti-dumping duties ranging from 14.29 per cent to 77.15 per cent on Portland cement originating in or imported from Pakistan, effective 15 May 2015 for a period of six months. The levies follow an investigation initiated by the International Trade Administration Commission of South Africa (ITAC) on 22 August 2014 after a number of local cement producing companies submitted an application on behalf of the SACU industry. Companies including AfriSa...

South Africa: PIC increases stake in PPC

06 May 2015, Published under Cement News

The Public Investment Corporation (PIC) had increased its investment in PPC to 15.165 per cent, the South African cement producer yesterday. The PIC confirmed in December when the AfriSam Group made a non-binding proposal of a merger with PPC that the corporation held 12.57 per cent of PPC and 66 per cent of AfriSam. Talks between the two cement producers were halted in March when they were unable to reach consensus on the terms of the proposed merger.

PPC to ease expansion, focus on existing projects

23 April 2015, Published under Cement News

PPC said it will expand more slowly after spending on its 'Rest of Africa' projects has raised its debt load, the company's chief executive said on Wednesday. PPC is building plants in African countries as part of a wider plan to generate 40 per cent of its sales outside its home market by 2017. However, spending on these projects is pushing up its debt levels and CEO Darryll Castle said PPC's debt would likely hit as much as ZAR12bn (US$982m) in the next two years and possibly breach agree...

Algeria: construction on Hodna-PPC M’sila plant to start

03 April 2015, Published under Cement News

Construction on the 2.2Mta plant in M'sila, a joint venture between Hodna Algerian Cement Co (HACC) and PPC (South Africa), will start soon, according to Abdelkrim Mansouri, director general of the National Investment Development Agency. Nearly DZD28bn, or 80 per cent of the investment will be financed by Algerian banks, while the balance is funded by the two partners. Signed in February 2014, the agreement also entrusts PPC with the management of the works.

PPC and AfriSam call off merger talks

30 March 2015, Published under Cement News

South 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. ...