Cement News tagged under: PPC

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Fairfax drops plans to buy 23% of PPC

12 December 2017, Published under Cement News

Canada's Fairfax Africa Investments Proprietary Ltd has pulled out of its attempt to buy 23 per cent of South African cement producer PPC for ZAR2bn (US$146.34m), PPC said on Monday. "On 8 December 2017, the Independent Board received Fairfax's formal notification that it will not proceed with the partial offer and that, accordingly, the Fairfax partial offer circular will not be posted to PPC shareholders," PPC said in a statement. Fairfax offered to buy 23 per cent of PPC in September...

CRH exits PPC talks but LafargeHolcim discussions continue

07 December 2017, Published under Cement News

Irish 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 plant

30 November 2017, Published under Cement News

PPC 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 offer

24 November 2017, Published under Cement News

The 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 sales

23 November 2017, Published under Cement News

South 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 PPC

14 November 2017, Published under Cement News

Ireland’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 circle

09 November 2017, Published under Cement News

Contributing 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 PPC

27 October 2017, Published under Cement News

LafargeHolcim 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 9M17

20 October 2017, Published under Cement News

Dangote 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 Slurry

18 October 2017, Published under Cement News

The 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...