Cement News tagged under: PPC

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Rwanda: new CEO of Cimerwa and PPC Gauteng business unit executive

09 February 2017, Published under Cement News

Former General Manager of PPC Cement’s Hercules and Jupiter operations in Gauteng, Bheki Mthembu, has been appointed the CEO of Cimerwa in Rwanda. Mthembu assumed his new duties as CEO from 1 December 2016 under the guidance of Njombo Lekula, Managing Director of PPC International Operations. With optimisation of Cimerwa currently in progress, Mthembu is looking forward to this new challenge and the year ahead. "While PPC’s well-established presence in Botswana and Zimbabwe had alread...

South Africa: PPC to fund Slurry Kiln 9 project from B-BBEE deal

19 January 2017, Published under Cement News

JSE-listed cement maker PPC says it has started structuring its new broad-based black economic empowerment (B-BBEE) agreement, after it had concluded subscription agreements of another B-BBEE deal, from which the firm received ZAR1bn (US$73.7m). Sibonginkosi Nyanga, an analyst at Momentum SP Reid Securities, said the introduction of the new B-BBEE codes meant that companies had to relook at their empowerment deals. “The issue of the changing of the codes meant most companies, especia...

PPC

01 December 2016, Published under Cement News

Improved cement sales in South Africa and growing volumes in Rwanda resulted in PPC reporting a 13 per cent increase in group cement sales in the six months ending 30 September 2016, compared to the previous six months. Revenue for the period came in at ZAR5.2bn (US$370m), compared to ZAR4.6bn in the six months ending 31 March 2016, representing an increase of 15 per cent. Revenue in the lime business advanced by six per cent while the company’s aggregates and ready-mixed operations recorded...

Consolidation needed in South African market claims PPC chief

18 November 2016, Published under Cement News

Darryll Castle, chief executive of PPC, has said that he believes there are too many cement companies operating in South Africa, adding that necessary consolidation would leave his firm in a stronger position, the Zimbabwe Herald reports. Mr Castle told the newspaper that PPC was “keeping and eye on the whole industry” and refused to comment on claims that merger talks had been reopened between his firm and the AfriSam Group. “In the longer term, there’s no doubt that there needs to be...

South Africa: PPC's 1H profits fall 66%

16 November 2016, Published under Cement News

PPC Ltd reported a 66 per cent decline in half-year profit, hit by higher finance costs. PPC said headline earnings per share (EPS) totalled 14 cents in the six months to end-September, compared with 41 cents a year earlier. Group cement sales volumes increased by 13 per cent, reflecting the impact of double-digit volume growth in the coastal regions. Group debt reduced to ZAR5.9bn (US$4.17bn) from ZAR9.2bn a year earlier following the receipt of proceeds from a rights issue. In Sept...

PPC

19 October 2016, Published under Cement News

Effective 1 October 2016 Zimbabwe's authorities have introduced a tariff of US$100/t on cement imports. The move comes after a number of cement producers, including PPC, warned that they may have to consider scaling down or closing their operations due to the influx of cheap imported cement. Zimbabwe is reportedly importing cement from Botswana, South Africa and Zambia despite the country’s cement production capacity being more than sufficient to meet domestic demand.  Darryl Castle, chie...

DR Congo: new plants to fight imports

07 October 2016, Published under Cement News

This week it was announced that the Cementerie Kongo (CIMKO) greenfield cement plant project, a joint venture between Lucky Cement Ltd and the local Groupe Rawji, would be completed this October. While it will take a short while for the plant to be optimised, its targeted cement capacity of 1.2Mta is expected to be pressed into action as soon as possible to serve the country's 3Mta cement demand. While GDP in the Democratic Republic of Congo has slipped, with the government forecasting 4...

DR Congo: CIMKO plant nears commerical production

04 October 2016, Published under Cement News

This October the US$270m CIMKO plant owned jointly by Lucky Cement and Groupe Rawji located 240km (150 miles) west of the capital, Kinshasa, will start producing cement and work towards its 1.2Mta cement capacity. The project has been financed by lenders including the African Development Bank, the International Finance Corporation, Denmark’s Export Credit Agency EKF and by Habib Bank Ltd. The Democratic Republic of Congo's Prime Minister, Matata Ponyo Mapon, said his government wi...

South Africa: PPC sets terms for its US$280m rights issue

12 September 2016, Published under Cement News

PPC has set terms for its ZAR4bn (US$280m) rights issue after the deal was almost unanimously approved by shareholders at the start of August. The rights issue has been talked about by the company since December 2015. Yet it has become all the more urgent and complex since S&P downgraded the company’s credit rating from A to BB- in May. “That triggered the need for the capital increase,” a banker on the deal said. PPC is offering 1bn new shares at ZAR4/share, a discount of 55.5 per c...

PPC increase revenue and volumes in 3QFY15-16

06 September 2016, Published under Cement News

PPC reported a nine per cent YoY rise in quarterly sales revenue, commenting that sales revenue in South Africa increased two per cent and volumes by at least nine per cent in the company's 3QFY15-16. However, revenue outside of South Africa was even stronger, growing 19 per cent as a result of significant volume growth, newly commissioned plants in Rwanda and gains made through currency translations. CEO of PPC, Daryll Castle said, “the group's revenue has improved by six per cent suppor...