Cement News tagged under: PPC

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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...

PIC increases shareholding in PPC

17 October 2017, Published under Cement News

Cement 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...

PPC is a new target for CRH

13 October 2017, Published under Cement News

CRH is among companies considering a counterbid for PPC that could trump an offer by Canada’s Fairfax Financial Holdings, according to Bloomberg sources. PPC’s future has been considering a merger with rival AfriSam Group failed and Toronto-based insurer Fairfax made a partial offer for ZAR2bn (US$149.5m) of PPC stock at ZAR5.75/share. PPC has a market value of ZAR11bn (€689m). Fairfax’s offer is conditional on PPC merging with AfriSam, and the South African company has appointed Invest...

PPC merger opposition grows

11 October 2017, Published under Cement News

Visio Capital Management, which holds seven per cent of PPC shares, is the latest investment manager to object to a partial conditional offer for AfriSam-Fairfax merger. Visio Capital’s position sees at least 25 per cent of shareholders opposing the merger. Earlier this week, Value Capital Partners, which owns around five per cent of PPC stock, had rejected the offer made by Canada’s Fairfax Africa Investments saying the intrinsic value of PPC was at least ZAR10/share. Fairfax had underta...

Dangote pull out of potential PPC acqusition deal

09 October 2017, Published under Cement News

Dangote Cement Plc, pulled out of its bid to acquire the share capital of PPC Ltd. In a regulatory filing at the weekend, Dangote Cement board of directors stated that it has notified PPC board of directors that it no longer has an interest in acquiring the South African firm’s share capital. Dangote Cement had last month confirmed that it had initiated a bid to acquire PPC Lt. It, however, noted that the acquisition talks were still at the preliminary stage and the transaction remained...