Cement News tagged under: PPC
PPC's CFO to step down at the end of the month11 October 2019, Published under Cement NewsSouth Africa’s PPC has announced that its Chief Financial Officer, Tryphosa Ramano, will step down on 31 October after eight years at the company. Ms Ramano has agreed to take on a consultancy role with PPC to ensure continuity. Ronel van Dijk has been appointed as interim CFO and as an executive director. The news follows Roland van Wijnen taking over as CEO of PPC at the start of this month. |
PPC Zimbabwe's cement sales volumes fall by 25%04 September 2019, Published under Cement NewsPPC Cement's Zimbabwean cement sales volume contracted by 25-30 per cent in the four months ended 30 June 2019. The country has been hit by fuel and electricity shortages and other economic pressures. "Overall cement sales volumes contracted by between 25-30 per cent due to a weaker economic climate. Cement pricing, which was aligned with input cost inflation, was higher than the previous comparable period," PPC said. "Trading conditions in Zimbabwe remain challenging, due to liquidit... |
PPC releases operational update for the 4MFY2030 August 2019, Published under Cement NewsSouth Africa's PPC has released an operational update for the four months to 30 July, noting a 5-10 per cent increase in group EBITDA due to positive price momentum in South Africa and cost optimisation initiatives. Average cement prices in its southern Africa region (including Botswana) rose 7-8 per cent in the period, however cement sales declined 10-15 per cent YoY on the back of a decrease in domestic demand. The company noted that importer and blender activity contributed to the comp... |
Dangote Cement28 August 2019, Published under Cement NewsDangote Cement is among five companies calling for an investigation into cement imports into South Africa. According to The Concrete Institute (ITC), imports have risen by 139 per cent since 2016. In the 2Q19, 350,441t of cement arrived in South Africa, the highest level since the 3Q15. Imports from Vietnam alone totalled 301,872t. Most of the cement imports come through Durban, which handled 260,909t in the second quarter of this year, marking an 85 per cent increase on the 1Q19. On beha... |
Government extends deadline for Cimerwa stake18 July 2019, Published under Cement NewsThe Government of Rwanda has moved the deadline to sell its stake in Cimerwa from 5 to 19 July, with the extension providing a chance for more individual investors and companies to submit a proposal, according to the Rwanda Development Board. The government and its affiliates hold a 49 per cent stake in the company, while South Africa’s PPC is the majority shareholder at 51 per cent. The Rwandan government had initially given PPC an opportunity to buy the remaining shares . According to... |
PPC reports revenues of ZAR10.4bn in FY1901 July 2019, Published under Cement NewsPPC has reported revenue up one per cent in the FY19 ended 31 March, rising to ZAR10.4bn (US$772.7m), while EBITDA increased four per cent to ZAR1.9bn. PPC's overall cement volumes rose by one per cent to 5.9Mt. South Africa's cement market (including Botswana) as a whole saw a decline of 2-3 per cent in sales but the inland market remains competitive, according to the company. The coastal markets were impacted by increased imports which rose by 84 per cent in 2018 to 1Mt. Production cost... |
PPC to shut down kiln to meet emission standards01 July 2019, Published under Cement NewsSouth Africa’s PPC has stated that it expects to pay around ZAR120m (US$8.5m) as a result of the new carbon tax and will also shut down a kiln at its Port Elizabeth (PE) facility to meet the new emission standards. "I think it’s something that we as a country need to debate as to whether this is the right time for carbon tax, be that as a company we support a cleaner environment," said Njombo Lekula, managing director of the SA Cement division. The company expects around 30 jobs to be ... |
PPC announces new CEO and delays annual results presentation27 June 2019, Published under Cement NewsSouth Africa’s PPC has appointed Roland van Wijnen as its new CEO after a search that began in November 2018 when Johan Claassen announced he would be retiring from the role. "We are pleased to have secured Roland, a Dutch national, whose listed company experience and exposure to international global best practice will broaden the management practices of PPC. He has a detailed knowledge of the cement sector. He is up-to-speed with our strategic imperatives and will advance the process with... |
Arghakhanchi Cement launches new PPC line11 June 2019, Published under Cement NewsNepal's Arghakhanchi Cement Pvt Ltd has launched a new PPC cement product line for the domestic market. After meeting government criteria, the company received approval for the product from the Nepal Bureau of Standards and Metrology on 7 June. "We have not made any compromises in the quality and weight of the cement. We have started production of the Arghakhanchi PPC cement due to the new technology and the increasing demand of the customers. We have successfully achieved a new milestone i... |
Rwandan government to divest Cimerwa stake11 March 2019, Published under Cement NewsThe 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 ... |