Cement News tagged under: PPC

RSS feed

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 ...


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...

PPC to construct new plant in Democratic Republic of Congo

17 May 2013, Published under Cement News

PPC has announced plans to construct a 1Mta cement factory in the Democratic Republic of Congo, as part of the company’s plans to increase revenue streams outside South Africa to 40 per cent by 2016. The company is expanding in Africa through acquisitions to offset tougher competition in its domestic market and plans an investment of plans an investment of US$200m in the central African country. The move follows acquistions made last year in cement producers in Ethiopia and Rwanda. In ...

PPC's East African promise

14 May 2013, Published under Cement News

PPC Ltd, southern Africa’s leading cement manufacturer, has increased its footprint in sub-Saharan Africa with its latest acquisitions in Ethiopia and Rwanda. With the two acquisitions, PPC’s sights are currently set on the east as the company aims to increase revenue streams from outside its traditional regions of South Africa, Botswana, Mozambique and Zimbabwe to 40 per cent by 2016. By PPC Ltd, South Africa. PPC expands its African footprint: current and future focus areas PP...

PPC Zimbabwe secures funding for new project

13 March 2013, Published under Cement News

PPC Zimbabwe has secured US$200m to build a second plant, according to local press reports. Chief executive, Zak Limbada, said: “We have secured US$200m for the projects but I cannot disclose the source at the moment,” All Africa press quoted him as saying. “Drilling is ongoing and we hope to have sample results (of limestone) in the next two months. With the permission of various regulators, we are hoping to commence the project soon after.” In November last year, PPC announced tha...

Habesha Cement appoints new chairman, Ethiopia

11 March 2013, Published under Cement News

Habesha Cement of Ethiopia has appointed a new chairman as well as new board members to reflect changes in the company's shareholding. Tamiru Wondimagegn has been appointed as Habesha Cement’s new board chairman replacing Eng Gizaw Teklemariam. Mr Wondimagegn is a lawyer and board member of the cement company. Habesha Cement, which was established in 2010 with 16,000 shareholders, has elected old and new board members for the seats which have recently been reduced from nine to 12, acco...

Habesha Cement seeks project funding, Ethiopia

20 February 2013, Published under Cement News

Ethiopia-based Habesha Cement has approached the Common Market for Eastern & Southern Africa’s (COMESA) PTA Bank in Burundi to source financing for its new cement project in Addis Ababa. According to reports in the Fortune, the new loan application comes after the Development Bank of Ethiopia (DBE) reversed a decision to finance more than half Habesha's cement project costs. The 1.4Mta cement factory was scheduled for completion in 2014 at a cost of around US$130m. Promoters of the company...

PPC to build new Zimbabwe cement plant

08 February 2013, Published under Cement News

PPC´s Zimbabwe subsidiary, Portland Holdings Ltd (PHL) has announced its intention to construct a new cement plant to service the Harare and central Mozambique markets. The new plant will have a capacity of approximately 1Mta and will coincide with the construction of a separate grinding facility in the neighbouring territory of Tete in Mozambique. Ketso Gordhan, the CEO of PPC said in a statement: "In recent years our investment in Zimbabwe has shown strong growth on the back of a more b...

Development Bank of Ethiopia withdraws Habesha Cement loan

31 January 2013, Published under Cement News

The Development Bank of Ethiopia (DBE) has withdrawn an ETB1.52bn (US$82.9m) loan agreement made with Habesha Cement for construction of a new plant. The bank had approved the loan last year which was expected to cover over 70 per cent of the financing  for the proposed factory. However, the DBE has now withdrawn the offer on the grounds of inability to disburse funds at this time. It has similarly pulled out of loan agreements with five other companies. The bank has pledged to aid the co...