Cement News tagged under: South Africa
South Africa: PPC eyes African cement growth14 November 2012, Published under Cement NewsAs South Africa entered a potentially slow growth year, rising cement demand in the rest of Africa presented strong growth opportunities for Pretoria Portland Cement (PPC), said outgoing CEO Paul Stuiver. PPC views a number of African countries, particularly Zimbabwe as good growth stories, aimed to enter four new markets in the eastern region of Africa in 2013. While the details of the potential acquisitions and greenfield projects could not be disclosed owing to confidentiality agreement... |
Sephaku Cement secures cement project funding, South Africa22 October 2012, Published under Cement NewsSephaku Cement had concluded a ZAR1.95bn (US$226m) funding deal with Standard Bank and Nedbank which will be put towards new capacity in South Africa. The 10-year funding deal would provide Sephaku Cement, which is developing a production facility in the northwest and a grinding facility in Mpumalanga, with the required capital to enter the cement market. Of the total debt capital raised, just over 50 per cent of total procurement spend would be invested locally. Aganang, near Lichte... |
AfriSam to expand in Eastern Cape17 October 2012, Published under Cement NewsSouth African cement producer AfriSam announced that it had signed a lease agreement with the Coega Development Corporation (CDC) to establish a grinding and blending plant in Zone 5 of the Coega Industrial Development Zone. The plant will have a production capacity of 740,000tpa and will supplement AfriSam’s existing supply of cement to the Eastern Cape market. An Environmental Impact Assessment (EIA) is currently underway and construction of the plant will commence upon approval of ... |
PPC receives environmental approval for Western Cape modernisation, South Africa04 October 2012, Published under Cement NewsSouth Africa’s leading cement producer Pretoria Portland Cement has been granted environmental authorisation by the Western Cape Department of Environmental Affairs and Development Planning for phase 2 of its Western Cape modernisation strategy. The upgrade project encompasses the replacement of two ageing cement kilns at the Riebeeck plant with a new five stage preheater kiln. This marks the successful conclusion of the environmental impact assessment, however in terms of the legislat... |
South Africa’s second-half sales rise seven per cent03 October 2012, Published under Cement NewsSecond-quarter cement sales in South Africa reached 2.91Mt, a seven per cent increase on the same period of the year before (2.7Mt), the latest data from the country’s Cement and Concrete Association (C&CI) shows. First half sales amounted to 5.55Mt, representing a 6.8 per cent rise on the first half of 2011 when figures reached 5.197Mt. For the 12 months to June 2012, the moving annual total was 11.59Mt, a rise of 6.6 per cent compared to 10.872Mt in the comparable period of the previ... |
PPC clears second phase of BEE deal, South Africa02 October 2012, Published under Cement NewsSouth Africa-based Pretoria Portland Cement (PPC) said on Friday that all conditions set for the ZAR1.1bn (US$131.7m) second phase of its broad-based black economic empowerment (BEE) transaction had been fulfilled. The deal, which was announced in July, will give the cement and lime producer an effective 26 per cent black ownership, as required by the mining charter, enabling it to convert its old order mining rights to new order rights. The first phase of the deal in 2008 resulted in 1... |
PPC appoints new chief audit executive, South Africa17 September 2012, Published under Cement NewsPretoria Portland Cement (PPC) appoints Phuti Semenya, a qualified Chartered Accountant as the Chief Audit Executive. This appointment is in line with the PPC strategic imperatives that include assurance on governance, risk management and internal controls. PPC said that Semenya brings with him an extensive experience and knowledge base in internal and external auditing that was acquired over a period of 14 years in auditing firms and leading financial institutions. Most recently, Semenya... |
India Cements 1Q net profit drops 39.2%14 August 2012, Published under Cement NewsIndia Cements Ltd today said that it has reported a decline of 39.2 per cent in its net profit for the first quarter ended June 2012 at INR62.07 crore. The net profit of the company stood at INR102.03 crore during the same period a year ago, said India Cements in its filing to the Bombay Stock Exchange on August 13, 2012. Meanwhile, the company has said it is exploring at possibilities of exports to Sri Lanka and South African countries. Speaking to Business Standard of India, N Srini... |
South Africa's PPC invests in Ethiopian cement firm26 July 2012, Published under Cement NewsSouth Africa's Pretoria Portland Cement and a state investment body South Africa’s Industrial Development Corporation (IDC) have jointly secured a 47 per cent equity stake in the Habesha Cement Share Company (HCSCo) of Ethiopia. PPC’s US$12m cash investment secures 27 per cent in HCSCo and is a significant step in PPC’s African expansion strategy. This is PPC’s first investment into the Ethiopian and east African cement market. The IDC will simultaneously invest US$9m for a 20 per cent stak... |
PPC in US$133m deal with black investors12 July 2012, Published under Cement NewsSouth African cement maker Pretoria Portland Cement (PPC) is to sell a 6.5 per cent stake to its staff and black investors in a deal worth about US$133.4m. PPC said the broad-based black economic empowerment (BBBEE) deal, which is the second in four years, would take shareholding by black investors in its South African operations to 26 per cent and enable it meet the rules set out by the government. PPC said on Thursday it would cancel about 20 million treasury shares it bought back to ... |