Cement News tagged under: PPC
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... |
South Africa: PPC to reshuffle board03 December 2014, Published under Cement NewsPPC and its investors have agreed to reshuffle the company's board, calling off a special shareholder meeting scheduled for next Monday. “Shareholders are hereby notified that following discussions initiated by [Executive Chairman] Bheki Sibiya with a number of shareholders, the board of directors of PPC has decided to embark on a process that is much more likely to achieve the best outcome for the company and all of its shareholders,” PPC said. The compromise comes as a blow to former... |
PPC signs waste tyre agreement21 November 2014, Published under Cement NewsPPC has signed an agreement to source waste tyres from the Recycling and Economic Development Initiative of South Africa (Redisa) for use at its De Hoek cement factory, South Africa. The country’s largest cement producer is also investigating the possibility of using waste tyres in some of its other plants, Azola Lowan, the executive for investor relations and strategy, told the Cape Times. Lowan said the use of the waste tyres in the kilns at the De Hoek factory would be introduced fro... |
PPC full-year cement sales rise 2%20 November 2014, Published under Cement NewsSouth Africa's largest cement producer, PPC, reported a two per cent rise in cement sales for the full year to the end of September 2014, as growth in some of its sub-Saharan markets was offset by challenging operating conditions at home. Group revenue increased by nine per cent to ZAR9.04bn (US$818m), mainly attributable to the consolidation of Safika Cement and Pronto Readymix as well as the full-year impact of Cimerwa. On a like-for-like basis, revenue would have been three per c... |
PPC increases stake in Habesha, Ethiopia06 November 2014, Published under Cement NewsPPC 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... |
PPC calls shareholder meeting to consider board overhaul03 November 2014, Published under Cement NewsSouth Africa's leading cement producer, PPC, said on Friday that it would convene a meeting of shareholders next month "to consider the removal of the entire existing board" after three shareholders holding a 10 per cent stake requested it. The company said in a filing to regulators that the meeting "is likely to occur in the first half of December" and will also consider the "proposed elections of certain persons nominated" by the said shareholders. A further announcement will be made w... |
PPC Zimbabwe to invest US$86m in extra capacity24 October 2014, Published under Cement NewsPPC Zimbabwe announced a US$86m investment package in Zimbabwe over the next three years as it expects rising cement demand due to infrastructure projects despite a generally stagnating building sector. The funds are earmarked for manufacturing capacity and equipment. Road-building projects and exports to Zambia, Malawi and Mozambique are generating “significant” demand, according to the company’s MD, Lekula Njombi. The cement producer also expects to supply product to private-sector powe... |
Claassen to replace Tomes as PPC MD24 October 2014, Published under Cement NewsJohann Claassen, former head of domestic operations, is to become MD of South Africa’s PPC. He will replace Richard Tomes who resigned effective Thursday to “pursue other opportunities”. "Johann is a professional engineer who joined PPC in 1989 and has served as executive of cement operations and of lime, and held various other senior and general management roles across the cement and lime divisions," PPC said in a statement. |
PPC chief executive quits, South Africa23 September 2014, Published under Cement NewsKetso Gordhan, the chief executive officer of PPC Ltd (PPC), resigned from his post at South Africa’s largest cement maker because of differences with the board. Mr Gordhan, who was appointed at the start of last year, quit abruptly on Monday prompted by what the company described in a statement as "differences of opinion" with the board, regarding "procedures for the approval of certain decisions. The statement however added that Gordhan had agreed to continue providing input to crucia... |
PPC says slower domestic economic growth hurting volumes15 September 2014, Published under Cement NewsSouth Africa's largest cement producer, PPC, has said slower domestic economic growth and declining infrastructure spending has resulted in a "particularly tough" domestic market. “Low single-digit” volume declines across Africa’s second-biggest economy were partly offset by higher selling prices in the 10 months through July, the company said today in a statement. PPC is expanding in new African countries as it targets 40 per cent of sales outside its domestic market by 2017, compared... |