Cement News tagged under: PPC

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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...

PPC records sales growth

06 February 2018, Published under Cement News

PPC reported that it has seen its sales volume grow by over 20 per cent YoY in Rwanda and Zimbabwe, for the nine-month period ended 31 December 2017. Assisted by stable pricing and a positive export performance, volumes increased by 20-30 per cent YoY in Rwanda. Similarly, its Zimbabwean operations registered an uptake of 30-40 per cent when compared to the year-ago period. However, PPC estimates that overall cement demand in South Africa declined by 3-4 per cent in the full-year 2017. ...

PPC improves liquidity position

22 January 2018, Published under Cement News

PPC has rescheduled the debt related to its new plant in the Democratic Republic of Congo, improving its liquidity position. The South Africa-based cement producer has also secured a two-year capital repayment moratorium. As a result, the total capital requirements for PPC Barnet DRC would be limited to interest payments from this month up to January 2020. PPC has a 69 per cent stake in PPC Barnet DRC, a joint venture with Barnet Group, which has a 21 per cent shareholding, and the In...


03 January 2018, Published under Cement News

Having started a process of due diligence, CRH has decided not to proceed with a bid for the African cement producer Pretoria Portland Cement.

LafargeHolcim withdraws from further talks with PPC

14 December 2017, Published under Cement News

LafargeHolcim has ended talks with South Africa’s PPC about a potential deal, said the Swiss cement producer in a brief statement. The step comes only a day after Canada’s Fairfax Africa Investments Proprietary Ltd pulled out its attempt to buy 23 per cent of the South African cement producer and a week after CRH exits talks with PPC.

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...