Cement News tagged under: PPC

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PPC expansion on track

28 January 2014, Published under Cement News

PPC has said its expansion remains well on track and commissioning of its Rwanda plant is anticipated at the end of 2014. Construction work has also commenced at sites in Ethiopia and the Democratic Republic of the Congo, it added. As part of its local 'Keeping the Home Fires Burning' strategy, in December 2013, PPC acquired a 69.3 per cent stake in Safika Cement Holdings for ZAR377m. "Additional opportunities are currently being pursued and further announcements will be made in the near...

PPC

20 December 2013, Published under Cement News

PPC is further stamping its footprint on the South African market with the recent approval of its acquisition of cement producer Safika Cement. The country’s Competition Tribunal has given its unconditional go-ahead to the deal for a controlling equity stake in Safika at a cost of US$35.3m. Safika Cement owns five blending facilities and one milling operation producing blended 32.5N cement. “Our successful conclusion of another value-adding transaction for shareholders will ensure that ou...

PPC gets competition tribunal go-ahead for Safika Cement acquisition

16 December 2013, Published under Cement News

PPC’s previously-announced acquisition of South African blended cement producer Safika Cement has been unconditionally approved by the country’s Competition Tribunal. An agreement to acquire a controlling equity stake in Safika Cement for a cash consideration of approximately ZAR350m (US$35.3m) was announced by PPC in August this year. PPC said last Friday, that the completed deal further enhances its footprint in South Africa where Safika Cement owns five blending facilities and one mi...

PPC

02 December 2013, Published under Cement News

Despite rising electricity prices and depreciation pushing up input costs, South Africa’s PPC has posted an eight per cent rise in EBITDA to ZAR2500m (US$244m) for the year ending September 2013. Revenue growth increased by 13 per cent rise to ZAR8320m (US$811) for the period, while gross profit was up nine per cent at ZAR2700m (US$263m). Strong growth in South Africa and Zimbabwe bumped total cement sales for the period up by seven per cent. Cement now accounts for 86 per cent of the com...

PPC's preliminary report, year-end Sept 2013

19 November 2013, Published under Cement News

PPC's South African cement sales volumes rose by seven per cent, while industry sales for the nine months ending June 2013 increased by 4.2 per cent. Strong volumes were recorded in the Gauteng and inland regions despite increased industrial action in these markets. Volumes in the coastal regions also recorded growth despite rising imports and a particularly wet winter season. Imported cement, which is not subject to import duties and is excluded from national statistics, accounted for an ...

PPC

28 October 2013, Published under Cement News

PPC, southern Africa’s leading cement supplier, has announced plans to build a new 1Mta plant in the Democratic Republic of Congo (DRC). The company has signed a Memorandum of Understanding with DRC’s Barnet Group to construct the greenfield plant 20km from Kimpese in the west of the country. Costing US$230m the plant is expected to be operational by the end of 2015. The new plant should help to address the severe undersupply of cement in the country, despite the presence of a number of e...

PPC commits to new DRC plant

01 October 2013, Published under Cement News

PPC has signed a memorandum of understanding with the Barnet Group, its local partner in the Democratic Republic of Congo (DRC), to build a US$230m cement factory there. Ketso Gordhan, CEO of PPC, said that the greenfield project in the DRC included the construction of a 1Mta cement factory and associated quarry. The plant would take about 24 months to complete. PPC previously confirmed the company was finalising an agreement with Chinese engineering, procurement and construction company...

PPC chief acquires further stocks in producer, South Africa

13 September 2013, Published under Cement News

CEO of PPC, Ketso Gordhan, has acquired another ZAR3m worth of the company’s shares on the open market between 4-5 September 2013. This takes Mr Gordhan’s accumulated shares to 330,000, worth nearly ZAR10m at prices from ZAR29.30 to ZAR30.65 in the last month. It makes him one of the top 25 shareholders in the South Africa-based cement producers. (Source: Business Day).

PPC buys controlling stake in Safika Cement

07 August 2013, Published under Cement News

PPC has entered into an agreement to purchase a controlling equity stake in Safika Cement Holdings, a blended-cement producer in South Africa. The company acquired the stake for a cash consideration of approximately ZAR350m (US$35.3m). Safika owns five blending facilities and one milling operation and produces blended 32.5N cement under three brands: IDM Best Build, Castle  and the Spar Build-It house brand.  Commenting on its latest acquisition, PPC chief executive officer said: "We are ...

PPC

02 July 2013, Published under Cement News

June marks the launch of PPC’s online news service, which will provide regular updates and information to the cement industry. The new service replaces the now defunct Cement and Concrete Institute (CCI), which collapsed in April this year amidst claims that it was failing to provide the services required by the industry. PPC, Lafarge and AfriSam all withdrew their funding for the CCI although PPC is believed to have now employed three former senior staff members from the institute to run it...