Cement News tagged under: PPC
PPC appoints new CEO05 September 2023, Published under Cement NewsSouth Africa-based cement producer PPC has appointed Matias Cardarelli as its new CEO. Mr Cardarelli was employed previously as CEO and chairperson of Natal Portland Cement , part of Intercement , in the last five years. Prior he also held posts at Amreyah Cement in Egypt and Yguazú Cementos in Paraguay. In addition, following the onset of COVID-19 and a new entrant into the Mozambican cement market, his portfolio had been expanded to include Cimentos de Mozambique , where he su... |
PPC seeking buyers for CIMERWA stake21 March 2023, Published under Cement NewsSouth Africa-based PPC is looking to sell its shareholding in Rwandan cement producer CIMERWA . “PPC is selling its 51 per cent stake in CIMERWA and the government will discuss if it is able to buy the stake,” Rwanda Development Board CEO, Clare Akamanzi told a news agency. “PPC is looking for buyers.” A sale of its stake in CIMERWA would enable PPC to focus more on its South African core operations and further reduce debt. CIMERWA operates a 0.6Mta integrated cement plant in Bugar... |
PPC expects drop in South Africa and Botswana sales volumes17 March 2023, Published under Cement NewsSouth Africa-based PPC forecasts a 4-7 per cent drop in sales volumes in its domestic market and Botswana for the 12 months ending 31 March 2023, according to Reuters. To protect and restore its EBITDA margins it plans further cost reduction measures across its portfolio. Capital expenditure for South Africa and Botswana is expected to be in the range of ZAR280m-310m (US$15.25m-16.89m) for the FY22-23. The company expects net debt in the two countries to be between ZAR725m-775m at year-... |
PPC in talks to sell Zimbabwe business07 February 2023, Published under Cement NewsPPC Ltd is reportedly in talks to sell its Zimbabwe business. According to Bloomberg, discussions are at an early stage and no potential buyers have been named as yet. PPC is believed to be selling the Zimbabwe company for around US$200m. PPC Zimbabwe currently runs a 0.76Mta grinding plant in Bulawayo , a 0.825Mta clinker plant in Colleen Bawn , and a 0.7Mta grinding works in Harare . |
PPC posts 23% drop in EBITDA17 November 2022, Published under Cement NewsPPC Ltd , which is currently finalising its results for the six months ended 30 September 2022, has posted a 23 per cent YoY drop in EBITDA to ZAR728m (US$42.1m) in the six months ended 30 September 2022. Excluding PPC Zimbabwe, EBITDA fell 12 per cent YoY. Net debt continued to improve, coming in at ZAR677m on 30 September 2022, compared to ZAR1009m in March of this year. According to the company, shareholders should expect earnings per share (EPS) for the 2022 six-month period to “diff... |
PPC Group revenues rise 9%16 September 2022, Published under Cement NewsPPC's group revenues, excluding Zimbabwe, for the five months ended August 2022, increased by nine per cent, driven by robust demand in Rwanda but impacted by hyperinflation accounting. Group cement sales volumes (including Zimbabwe) for the period were in line with the previous comparable period as subdued demand in South Africa and the impact of a maintenance-related kiln shutdown in Zimbabwe were offset by robust demand growth in Rwanda. In addition, cash generation remains positive and... |
PPC calls for SA government action on cement dumping04 July 2022, Published under Cement NewsPPC has urged South Africa’s government to investigate “cement dumping” by countries such as Vietnam. It believes that the survival of the local cement industry may be under threat if the practice is left unchecked. PPC CEO Roland van Wijnen said that the Department of Trade, Industry and Competition should also consider broad import tariffs for cement to avoid new countries dumping cement and filling the void left by countries that have been subject to new dumping tariffs. “There will a... |
PPC reports 11% increase in revenue in FY2228 June 2022, Published under Cement NewsPPC has reported group revenue for the 12 months ended 31 March 2022 of ZAR9882m (US$621.9m), an increase of 11 per cent YoY. Excluding Zimbabwe, group revenue was up five per cent, while revenue in PPC Zimbabwe alone advanced by 34 per cent on the back of a 28 per cent upturn in volumes. Profit before tax from continuing operations came in at ZAR186m, compared to ZAR1765m in the year-ago period, due in part to PPC Zimbabwe incurring a loss before tax of ZAR67m, and impairments of ZAR38m. ... |
India champions blended cements06 May 2022, Published under Cement NewsIndia's production of ordinary Portland cement (OPC) continues to fall as the manufacture of blended cements, such as Portland pozzolana cement (PPC), Portland slag cement (PSC) and composite cements based on granulated blastfurnace slag and fly ash, increase on the back of strong demand. Blended cements currently account for 73 per cent of total cement production in India, compared to 27 per cent for OPC, according to the recent GCCA India report, ‘Blended cement - green, durable & sustain... |
South Africa’s long walk to recovery08 February 2022, Published under Cement NewsWhile 2021 saw some pick-up in South Africa’s cement market, analysts do not expect a full recovery before mid-2024. By Industry Insight, South Africa. As the COVID-19 mutation Omicron sweeps through the country, South African cement producers see market recovery postponed (Photo credit: AfriSam) The South African economy remains in crisis. Although there was a recovery in local production and consumption in 2021, record lows due to the COVID-19 pandemic and a lockdown-ravage... |