Cement News tagged under: South Africa
South Africa sees pick-up in 3Q cement sales07 January 2015, Published under Cement NewsSouth African cement sales rose by 4.6 per cent to 3.39Mt in the third quarter of 2014 after contracting in the previous two quarters, industry data released by the country’s leading producer shows. However, full-year sales are expected to be lag those achieved in 2013 as a challenging operating environment prevails. Figures posted by PPC show that volumes in the first nine months of the year, excluding imports and exports, were down 1.7 per cent YoY to 8.91Mt versus 9.06Mt in the comparat... |
South Africa: PPC names new CEO18 December 2014, Published under Cement NewsPPC has announced the appointment of Darryll Castle as executive director and CEO, effective 12 January 2015. PPC's former chief executive Ketso Gordhan resigned in September after his attempt to fire chief financial officer, Tryphosa Ramano, was blocked by fellow directors. He then launched a campaign to have the directors removed and win his job back. This month, the company bowed to shareholder pressure and agreed to reshuffle its board, but without reinstating Mr Gordhan. A chartered... |
PPC receives 17 nominations for non-executive director positions15 December 2014, Published under Cement NewsPPC has received a total of 17 nominations for non-executive director positions on the reconstituted and expanded board by the 8 December 2014 closing date for nominations, Kevin Odendaal, PPC's international business development executive, confirmed with local press on Friday. "The company does not want to pre-empt the circular that will be sent to shareholders most probably this week. The names that will be put forward by the nominations committee will be contained in the notice of the A... |
Three potential candidates for PPC chief executive role12 December 2014, Published under Cement NewsPPC is considering Darryll Castle as one of three candidates to become CEO of South Africa's biggest cement maker, a person familiar with the matter told Bloomberg. Castle, former chief executive of commodity trader Trafigura's mining division, was appointed as a non-executive director of PPC on 17 October. PPC is seeking a replacement for Ketso Gordhan, who resigned in September after his attempt to fire chief financial officer Tryphosa Ramano was blocked by fellow directors. A decision ... |
South Africa: PPC receives merger offer from AfriSam11 December 2014, Published under Cement NewsSouth Africa’s leading cement producer, PPC, has received a merger offer from local rival AfriSam that would create a dominant player in the country. “The Board is considering the indicative proposal and will make a further announcement in due course once it has concluded its consideration of the indicative proposal,” PPC said in a statement today. PPC has been embroiled in a boardroom battle since former CEO Ketso Gordhan resigned in September, leading some industry commentators to spec... |
South Africa: PPC to reshuffle board03 December 2014, Published under Cement NewsPPC and its investors have agreed to reshuffle the company's board, calling off a special shareholder meeting scheduled for next Monday. “Shareholders are hereby notified that following discussions initiated by [Executive Chairman] Bheki Sibiya with a number of shareholders, the board of directors of PPC has decided to embark on a process that is much more likely to achieve the best outcome for the company and all of its shareholders,” PPC said. The compromise comes as a blow to former... |
PPC signs waste tyre agreement21 November 2014, Published under Cement NewsPPC has signed an agreement to source waste tyres from the Recycling and Economic Development Initiative of South Africa (Redisa) for use at its De Hoek cement factory, South Africa. The country’s largest cement producer is also investigating the possibility of using waste tyres in some of its other plants, Azola Lowan, the executive for investor relations and strategy, told the Cape Times. Lowan said the use of the waste tyres in the kilns at the De Hoek factory would be introduced fro... |
PPC full-year cement sales rise 2%20 November 2014, Published under Cement NewsSouth Africa's largest cement producer, PPC, reported a two per cent rise in cement sales for the full year to the end of September 2014, as growth in some of its sub-Saharan markets was offset by challenging operating conditions at home. Group revenue increased by nine per cent to ZAR9.04bn (US$818m), mainly attributable to the consolidation of Safika Cement and Pronto Readymix as well as the full-year impact of Cimerwa. On a like-for-like basis, revenue would have been three per c... |
PPC calls shareholder meeting to consider board overhaul03 November 2014, Published under Cement NewsSouth Africa's leading cement producer, PPC, said on Friday that it would convene a meeting of shareholders next month "to consider the removal of the entire existing board" after three shareholders holding a 10 per cent stake requested it. The company said in a filing to regulators that the meeting "is likely to occur in the first half of December" and will also consider the "proposed elections of certain persons nominated" by the said shareholders. A further announcement will be made w... |
Claassen to replace Tomes as PPC MD24 October 2014, Published under Cement NewsJohann Claassen, former head of domestic operations, is to become MD of South Africa’s PPC. He will replace Richard Tomes who resigned effective Thursday to “pursue other opportunities”. "Johann is a professional engineer who joined PPC in 1989 and has served as executive of cement operations and of lime, and held various other senior and general management roles across the cement and lime divisions," PPC said in a statement. |