Cement News tagged under: PPC

RSS feed

PPC's acquisition of 3Q Mahuma Concrete approved

14 April 2016, Published under Cement News

South Africa's Competition Tribunal yesterday approved,without condition, PPC's acquisition of 3Q Mahuma Concrete, the largest independently owned ready-mix concrete supplier in southern Africa. The Competition Commission had recommended the tribunal approve the acquisition without conditions, but by late yesterday the tribunal had not communicated its decision. PPC previously disclosed that it planned to acquire the company for a maximum of ZAR183m (US$12.48m). It said the proposed ...

PPC appoint Peter Nelson as new chairman

31 March 2016, Published under Cement News

South African-based PPC has appointed Peter Nelson as interim chairman of the listed cement and lime producer, following the retirement of former chairman, Bheki Sibiya, at the end of January. Nelson was appointed to the PPC board as an independent non-executive director in January this year. His experience covers manufacturing, mining, telecommunications, healthcare, leisure, property, packaging and the motor industry in listed and private entities in South Africa, the UK, Zimbabwe a...

PPC’s Harare plant on course for 2016 commissioning

24 March 2016, Published under Cement News

Zimbabwe’s deputy minister for industry and commerce, Chiratidzo Mabuwa, has welcomed PPC’s commitment to investing in the country as the company confirms that it expects its second mill, a 0.7Mta unit in Harare, to be commissioned in late 2016. According to reports in News Day, Ms Mabuwa told delegates at the Zimbabwe-South Africa Investment and Trade Initiative meeting in Bulawayo last week that PPC’s presence was a sign that the country was open for foreign investment. “The company ...

Cimerwa looking to cut costs as it eyes export markets

23 March 2016, Published under Cement News

Busisiwe Legodi, Cimerwa's chief executive officer, has reaffirmed her company’s commitment to developing export markets in neighbouring Burundi and eastern DR Congo. Speaking in Kigali last week, Ms Legodi also said that Cimerwa – which is 51 per cent owned by South Africa’s PPC – were looking to cut costs.  A report by Rwanda’s New Times newspaper quoted Ms Legodi as saying: “We import most of the raw materials, including gypsum and coal, which makes business expensive. We are, there...

PPC eyes longer-term growth outside of Africa

16 March 2016, Published under Cement News

PPC has unveiled a new expansion strategy that envisages doubling the business every 10 years and growing beyond its traditional markets in Africa. In an investor presentation posted on PPC's website ahead of this week’s Merrill Lynch conference in Sun City, the company set out its ambitions for the future even as it warned of falling cement sales in the first months of FY16.  In the presentation, PPC states that it is on course to raise capacity to 12.7Mta by 2018 (a 47.7 per cent inc...

PPC chairman to step down, South Africa

27 January 2016, Published under Cement News

PPC announced that Bheki Lindinkosi Sibiya, who has served as chairman of Board since November 2008, elected not to offer himself for re-election at the shareholders AGM on 25 January 2016. Accordingly, he retires as non-executive director and chairman of the Board. PPC noted that under Mr Sibiya's stewardship the company has achieved a number of key milestones, notably the successful conversion of the company´s mining rights and the initiation of its African expansion strategy which to...

South Africa: domestic cementitious volumes up 7.8% YoY

27 January 2016, Published under Cement News

Domestic cementitious volumes in South Africa increased by 7.8 per cent YoY to 3.6523Mt in the third quarter of 2015, according to an update posted on PPC’s website. Total year-to-date volumes were recorded at 9.602Mt. Meanwhile, PPC yesterday said cement sales over the first quarter (October-December 2015) of the current trading year in its South African business were down by 1.6 per cent, while the international businesses recorded an eight per cent drop including low-margin cement exp...

Ethiopia: Habesha’s new plant project shows steady progress

22 December 2015, Published under Cement News

PPC recently announced that construction at the 1.4Mta works of Habesha Cement, Ethiopia, is well underway with overall project progress estimated at around 52 per cent. Civil construction at the plant, which will serve the Addis Ababa market, is 45 per cent complete and mechanical erection has started. Some 90 per cent of equipment has been manufactured to date and 70 per cent of this has been delivered to site, according to the South African parent company, which holds a 51 per cent sta...

PPC Ltd: change to the Board Of Directors

25 September 2015, Published under Cement News

Dr Daniel Ufitikirezi has resigned as a director of PPC with effect from 22 September 2015. This follows his resignation as the chairman of the board of Cimerwa, PPC's subsidiary in Rwanda, after his replacement as the representative of the Rwanda Social Security Board on that board. Dr Ufitikirezi was appointed to the PPC board in January 2015.

PPC expansion strategy on track

24 September 2015, Published under Cement News

PPC's expansion strategy remains on track and the new plant in Rwanda was officially opened on 18 August 2015. In an investor presentation posted on PPC's website ahead of the RMB Morgan Stanley Big Five Investor Conference in Cape Town on Monday, the company said all three remaining projects in the DRC, Zimbabwe and Ethiopia are ~45 per cent complete. The 1Mta Slurry Kiln 9 project has commence and production ramp-up is anticipated in 2018. In terms of its operational performance, posit...