Cement News tagged under: South Africa
Sephaku Cement posts 16% fall in profits in 201723 March 2018, Published under Cement NewsDangote-owned Sephaku Cement has posted a 16 per cent drop in its full-year profit, despite revenue increasing by 3.7 per cent to ZAR2.37bn (US$201.1m) in 2017. The South Africa-based company turned a profit of ZAR73.9m in the 2H17, compared with a loss of ZAR16.1m in 1H17, resulting in full-year profit of ZAR58.7m. This was a 16 per cent decrease on the previous year’s profit of ZAR68.9m. EBITDA for the full year was 21.3 per cent, compared with 23.1 per cent in 2016. Sephaku Cement stat... |
FLSmidth acquires Sandvik Mining Sytems01 March 2018, Published under Cement NewsFLSmidth has announced that its acquisition of Sandvik Mining Systems has been finalised. The deal will see the integration of continuous surface mining and minerals handling technologies into the company's core minerals sector, thereby allowing it to cover a wider range of the mining value chain. "With the completion of the South African assets we have added references, local expertise and improved ability to deliver complete solutions to our Sub-Saharan customers. We welcome our new c... |
Jabu Moleketi nominated for PPC chairman23 February 2018, Published under Cement NewsSouth 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... |
PPC22 February 2018, Published under Cement NewsPPC has reported improved revenue in the nine months ending 31 December 2017, compared to the same period a year earlier, driven by good operational cost management. Group EBITDA also tracked ahead YoY. A lack of large infrastructure projects continues to hamper cement volume growth in South Africa, according to the company, which estimates that overall cement demand in the country fell by 3-4 per cent in 2017. PPC saw its volumes in South Africa decline by 1-2 per cent YoY, which is an i... |
PPC records sales growth06 February 2018, Published under Cement NewsPPC 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 position22 January 2018, Published under Cement NewsPPC 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... |
India becomes second-largest market for Pakistani cement exporters22 January 2018, Published under Cement NewsPakistan’s cement exports to India grew by 26.3 per cent in FY17. Since beginning in 2010, India has become the second-largest market for cement exporters, with a 27 per cent share of the total exports from Pakistan in FY17. Elsewhere, exports to Pakistan’s largest market, Afghanistan, fell for the sixth consecutive year in 2017. This has been attributed to a large portion of Afghanistan’s demand now being met by cheaper cement imported from Iran. The decline is part of an overall decrea... |
Lafarge Africa to sell SA unit?05 January 2018, Published under Cement NewsLafarge Africa could put up its South African unit for sale, according to analysts at Exotix Capital. Proceeds of the sale could then be used to strategically shore up and stabilise the company’s Nigerian business, kickstarting the region’s merger and acquisition activity. The South African cement sector has become increasingly competitive while in the rest of Africa, PPC, Lafarge, Dangote, Bamburi and Twiga Cement are seen consolidating their markets. In addition, Chinese investors have ... |
LafargeHolcim03 January 2018, Published under Cement NewsThe 39.9 per cent-owned LafargeHolcim associate Huaxin Cement is investing in a US$140Mta cement works that it is building in Nepal. Lafarge Malaysia’s turnover came down by some 13 per cent to US$409.5m in the first nine months of 2017, while a net loss of US$33.1m was incurred, compared with a US$10.5m profit for the same period last year. The company lost money in each of the quarters of this year and a return to profit is not expected until the middle of next year. LafargeHolcim A... |
LafargeHolcim withdraws from further talks with PPC14 December 2017, Published under Cement NewsLafargeHolcim 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. |