Cement News tagged under: South Africa
Dangote sets eyes on PPC Group11 September 2017, Published under Cement NewsAliko Dangote is considering counter offers for the PPC Group and as such could spark a bidding contest for South Africa’s largest cement producer, reported The Star who quoted people close to the subject. Dangote Cement sees the bid as a way to accelerate its pan-African expansion, but the company is only one of several companies keeping a close eye on the bidding. PPC has already received one rival offer to the AfriSam Group bid from Canada-based Fairfax Financial Holdings and both bids... |
New Country CEO for Lafarge South Africa07 September 2017, Published under Cement NewsRossen Papazov has been appointed country chief executive officer (CCEO) of Lafarge South Africa Holdings, effective 1 October 2017. For the last four years, Papazov has been CCEO for Holcim (later LafargeHolcim) in Azerbaijan. Papazov joined the international Holcim group in 2000 as the business development manager for Bulgaria. He went on to undertake a number of other management positions, including general manager of Aggregates and Readymix in Bulgaria, marketing director for Aggregat... |
AfriSam submits revised PPC merger offer05 September 2017, Published under Cement NewsSouth Africa’s cement maker AfriSam has submitted a revised merger approach to larger domestic rival PPC, the company said on Monday. AfriSam’s latest proposal values PPC at 5.75 rand per share, or SAR9.2bn (US$709.47m), and is the company’s third attemp to merge with PPC and create a pan-African cement group with assets across six countries. As part of the proposal, the African unit of Canada's Fairfax Africa Holdings offered to buy 22 per cent of PPC at 5.75 rand per share for SAR2b... |
South African merger talks: make or break?01 September 2017, Published under Cement NewsFollowing the collapse of a second round of talks between South Africa's two leading cement producers on a proposed merger, will AfriSam's expected new proposal be enough to push negotiations through and be a case of third-time lucky? Last Friday AfriSam confirmed that it had cancelled the Heads of Terms it had entered into with PPC, which would have led to a formal merger agreement but says it remains committed to pursuing a deal. "AfriSam remains firm that a transaction between AfriSam a... |
AfriSam to come up with new merger plan30 August 2017, Published under Cement NewsMerger talks between South African cement producers AfriSam and PPC have been terminated after AfriSam retracted the heads of terms (HoT) that were entered into in February. PPC on Friday said AfriSam planned to rather submit an undisclosed new proposal regarding a possible combination of the two companies. AfriSam acting chief executive, Rob Wessels, said the company remained committed to pursuing a transaction and intended to submit a new proposal regarding a possible merger to PPC. ... |
PPC Zimbabwe achieves record cement volumes25 August 2017, Published under Cement NewsPPC has recorded the highest production volumes in Zimbabwe for the first time in 18 years following the opening of its new US$82m grinding plant in Harare. The group's interim CEO, Johan Claassen, said Zimbabwe operations continue to exceed expectations, with the investment in the 1.8Mta Harare mill contributing to volume growth. "PPC Zimbabwe also saw double-digit volume growth compared with last year, and in June 2017 recorded the highest monthly volumes since June 1999," he said. ... |
Changes to PPC executive team24 August 2017, Published under Cement NewsPPC has appointed Njombo Lekula as managing director of its Southern African Cement division. Previously the managing director of Rest of Africa Cement, Mr Lekula has been with PPC for 27 years, holding a number of cement manufacturing and executive management roles. Meanwhile, Mokate Ramafoko has been appointed as the managing director of Rest of Africa Cement. He is a chemist by profession with over 23 years of experience in the cement manufacturing, quality assurance and cement process... |
PPC 1Q17 results in line with expectations21 August 2017, Published under Cement NewsPPC revenue for the period ended 30 June 2017 (1Q17) is ahead YoY while group EBITDA is in line with the year-ago period. The advance has been attributed to good cost management. Johan Claassen, interim CEO, said: "Our focus is firmly on delivering improved profitability and liquidity in the shorter term while our longer term strategy remains unchanged. More specifically, we will focus our management effort on the new operations in the DRC and Ethiopia, ensuring that they deliver to expec... |
PPC revenue growth supported by rest of Africa cement business08 June 2017, Published under Cement NewsPPC reported that group revenues for the year ending March 2017 rose by five per cent to ZAR9641m (US$750m). The growth was supported by the rest of Africa cement business where revenues rose by nine per cent, and the aggregates and ready-mix segment which saw revenues increase by 23 per cent. Group EBITDA decreased by 13 per cent to ZAR2065m while the EBITDA margin achieved was 21.4 per cent (March 2016: 26 per cent). The decline was mainly attributable to the southern Africa cement seg... |
Lafarge Africa revenue rises26 April 2017, Published under Cement NewsLafarge Africa Plc announced a profit after tax of NGN5.2bn (US$17m) versus NGN1.9bn in the same period of last year driven by an increase in revenue, comparatively higher gross margin and higher investment and other income. Cement revenue grew by 61 per cent YoY, as relatively higher prices in both Nigeria and South Africa more than offset the lower sales volume experienced in both markets. In Nigeria volumes grew by six per cent compared to the final quarter of 2016 but were down by 12 ... |