Cement News tagged under: PPC
CRH exits PPC talks but LafargeHolcim discussions continue07 December 2017, Published under Cement NewsIrish cement producer CRH has decided to pull out of the process to bid for rival PPC, the South African company said on Thursday. Last month, CRH made an undisclosed cash bid for PPC and had been given time for due diligence and to submit an updated bid, but CRH has now opted to drop its interest in PPC. "CRH has decided not to submit an updated expression of interest and therefore considers it appropriate to withdraw from the Independent Board’s process," PPC said in a statement. In... |
PPC plans Western Cape mega plant30 November 2017, Published under Cement NewsPPC is planning to build a new large-capacity plant in the Western Cape, South Africa. The company is expected to make a formal announcement about the new works next year, according to Business Report. Johan Claassen, interim CEO of PPC, said the company had decided to carry out a feasibility study on a larger-than-previously planned facility at its Riebeeck works. The environmental impact assessment (EIA) of the previous project had been approved, but the revised scope of the new pla... |
PPC board rejects Fairfax offer24 November 2017, Published under Cement NewsThe board of PPC has advised its shareholders not to accept the offer of Fairfax Africa Investment Pty Ltd to buy a stake in the South African cement producer. The company will continue talks with LafargeHolcim and CRH on the sale. The Takeover Regulation Panel has extended the deadline for the Fairfax offer to 12 December 2017, according to the cement producer’s board. Fairfax has signalled its intention to make an offer to acquire ordinary shares representing ZAR2bn (US$144.1m) of PPC’s... |
PPC 1H17 earnings strong on robust Zimbabwe and Rwanda sales23 November 2017, Published under Cement NewsSouth Africa’s PPC Ltd reported in its inaudited 1H17 accounts a 36 per cent YoY rise in first-half earnings, supported by a strong performance in Zimbabwe and Rwanda. Headline earnings per share increased from ZAR0.14 to ZAR0.19 per share. Group revenue edged up one per cent to ZAR5.188bn from ZAR156m in the comparable year-ago period, while EBITDA advanced four per cent to ZAR1.2bn. Volumes sold increased by two per cent to around 3Mt. Net profit attributable to PPC shareholders increas... |
CRH plans cash bid for PPC14 November 2017, Published under Cement NewsIreland’s CRH has registered its interest in submitting a cash bid for South African cement producer PPC as it takes on AfriSam and LafargeHolcim. While PPC did not disclose the amount of the bid, it said it would give the Irish group time for due diligence and to submit an updated bid next week which would include a value per share for the company. "Historically, it would have been unusual for CRH to enter a bidding situation for a listed company, given management's preference for pu... |
Tyres: going full circle09 November 2017, Published under Cement NewsContributing to the circular economy, an innovative tyre-burning initiative at PPC’s De Hoek plant in the Western Cape, South Africa, has successfully demonstrated the viability of burning waste tyres as an alternative to coal in cement production. The project not only reduces coal usage and NOx emissions but also decreases landfill requirements for waste tyres, achieving a positive environmental impact. By Johan Vorster, PPC, South Africa. PPC De Hoek's location and the socio-ec... |
LafargeHolcim in talks with PPC27 October 2017, Published under Cement NewsLafargeHolcim announced that it is in talks with the board of directors of PPC regarding a possible transaction in Africa. “No agreement with PPC has yet been reached and no assurance can be given at this stage that a transaction will materialise,” said the building materials producer in a brief statement. |
Dangote Cement group increases revenues by 37% in 9M1720 October 2017, Published under Cement NewsDangote Cement’s overall group revenue increased by 36.5 per cent from NGN442.1bn (US$1.08bn) in the first 9M16 to NGN603.6bn in 9M2017, despite a 10.1 per cent fall in group cement volumes to 16.5Mt, as the impact of price increases dampened demand in Nigeria. The group’s profit for the period was NGN193.1bn, up 44.6 per cent compared to NGN133.5bn in 2016. “Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37 per cent despite a fall in volumes. In our key ... |
Workers strike at PPC Slurry18 October 2017, Published under Cement NewsThe National Union of Mineworkers (NUM) said that its members of PPC Cement's Slurry plant near Mafikeng, South Africa, have embarked on a strike over wages. The NUM said that PPC must close the wage gaps that exist within the company, as it feels that the management is creating the wage gaps instead of closing them. This comes after the NUM gave PPC Cement a notice to strike on Sunday last week and workers commenced with the industrial action on Monday. The NUM demands a 12 per cent wag... |
PIC increases shareholding in PPC17 October 2017, Published under Cement NewsCement producer PPC reported on Monday, 16 October, that the Public Investment Corporation (PIC) had increased its shareholding in the South African cement company, which is currently mulling bids from several parties that are vying for its shares. AfriSam, supported by Canada's Fairfax Africa Investments, made an offer in September to buy R2bn of PPC ordinary shares at ZAR5.75 a share (US$0.43). The offer includes a ZAR4bn recapitalisation of AfriSam before any merger. The PIC, which i... |