Cement News tagged under: PPC

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Rwandan government to divest Cimerwa stake

11 March 2019, Published under Cement News

The state of Rwanda has put up its 49 per cent stake in Cimerwa up for sale, according to an announcement made by the country’s Prime Minister, Edouard Ngirente on 9 March 2019. An auction will be organised at the end of the month. South Africa-based PPC currently holds a majority stake of 51 per cent in the Rwandan cement producer, but has not expressed an interest in acquiring the 49 per cent shareholding for sale. Cimerwa operates a 0.6Mta integrated plant in Rusizi. The government is ...

Finding a different kind of gold

14 January 2019, Published under Cement News

While coal had been the mainstay of PPC’s energy sources for decades, the company’s current energy policy has called for a steady replacement of the black gold with more sustainable energy sources. This provided the South African cement producer with the drive to introduce alternative fuels at its De Hoek plant in Western Cape. By PPC, South Africa. PPC’s energy policy seeks to replace increasing volumes of coal with alternative fuels Sustainability needs innovative thinking and...

PPC regains its strength

04 December 2018, Published under Cement News

This week, PPC Ltd has announced that possible price rises could be a feature of its strategy in South Africa heading into 2019. The news follows the company's reports of a solid set of half-year results for the period ended 30 September 2018 that saw revenues up eight per cent . While 

PPC has assessed the current domestic market as 'under pressure' due to weak consumer demand and a construction industry that is in 'distress', Johan Claassen, PPC's CEO, believes that now is the time to ...

PPC reports 8% rise in 1H revenues

23 November 2018, Published under Cement News

PPC posted an eight per cent increase in 1HFY18-19 revenues to ZAR5.597bn (US$403.9m) on the back of strong growth in the rest of Africa as the company’s performance in its domestic market of South Africa remains weak. Gross profit fell by 17 per cent to ZAR1.103bn in the six months ending 30 September 2018 from ZAR1.329bn in 1HFY17 while operating profit fell 34 per cent to ZAR507m. However, foreign exchange gains of ZAR38 and investment income of ZAR62m were unable to offset finance cost...

PPC CEO Claassen to retire

23 November 2018, Published under Cement News

South-Africa-based PPC has initiated a process to find a new CEO after the incumbent, Johan Claassen, expressed an interest to take early retirement. Mr Claassen was appointed permanent CEO in February this year after serving as interim CEO for six months following the departure of Darryll Castle.

PPC expects profit increase in FY18

18 June 2018, Published under Cement News

South Africa’s PPC expects its net profit attributable to shareholders to increase between 55-65 per cent for the financial year ended 31 March, compared with ZAR93m (US$6.9m) of the previous year. However, the group’s EBITDA from operations is expected to decline by 5-12 per cent YoY. "Group EBITDA has been negatively impacted by costs related to corporate action, restructuring and separation costs, which were communicated previously. Excluding this impact and the fluctuation in exchange...

PPC Zimbabwe to resume exports

19 March 2018, Published under Cement News

PPC Zimbabwe says it will leverage on an enhanced export incentive which the cement producer has been granted by the Reserve Bank of Zimbabwe (RBZ) to break even and resume exports despite high production costs, according to The Zimbabwe Independent. The central bank has approved the company’s application for an export incentive above the usual five per cent. PPC Managing Director Kelibone Masiyane said that the company’s export levels have dropped from 0.1Mta in 2014-15 to zero as cu...

PPC makes several changes to its board

06 March 2018, Published under Cement News

PPC has announced that Jabu Moleketi has been appointed as chairperson, with immediate effect. Mr Moleketi replaces Peter Nelson who, along with non-executive directors Sydney Mhlarhi and Dawn Earp, resigned on Friday. The departure of Mr Nelson follows allegations that Prudential Investment Managers South Africa, one of PPC’s largest shareholders, had sent a formal request for his removal, according to the Business Report. Noluvuyo Mkhondo, an investment banking and corporate finance ...

Jabu Moleketi nominated for PPC chairman

23 February 2018, Published under Cement News

South Africa’s PPC has received nominations for Jabu Moleketi for the position of chairman of the board to succeed Peter Nelson as it aims to “strengthen the board with its strategic priorities,” said the company in a statement. Mr Moleketi is currently chairman of Vodacom Group and has served on numerous boards such as the Development Bank of Southern Africa, Brait SE, Remgro, Nedbank Group and MMI Holdings. The company said the nomination will be evaluated and appointments in due co...

PPC makes three new appointments

15 February 2018, Published under Cement News

PPC has appointed its current interim Chief Executive, Johan Claassen as CEO and an executive director of the group with immediate effect. "Since his appointment as interim CEO Johan has overseen a number of important milestones including the successful stabilisation of the business, an improvement in efficiencies following the completion of key projects and the strengthening of PPC's financial position," said Peter Nelson, chairperson of PPC. Elsewhere, Njombo Lekula has accepted the...