Cement News tagged under: Zimbabwe

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PPC

02 December 2013, Published under Cement News

Despite rising electricity prices and depreciation pushing up input costs, South Africa’s PPC has posted an eight per cent rise in EBITDA to ZAR2500m (US$244m) for the year ending September 2013. Revenue growth increased by 13 per cent rise to ZAR8320m (US$811) for the period, while gross profit was up nine per cent at ZAR2700m (US$263m). Strong growth in South Africa and Zimbabwe bumped total cement sales for the period up by seven per cent. Cement now accounts for 86 per cent of the com...

Lafarge

03 October 2013, Published under Cement News

Lafarge has agreed the sale of its 53.3 per cent stake in its Honduras subsidiary Lafarge Cementos SA de CV to Cementos Argos for €232m, subject to the necessary official approvals. This represents an historic EBITDA multiple of 8.6. The company's assets include one integrated cement works with a capacity of 1Mta and an additional grinding centre with a 0.3Mta capacity. Lafarge Cement Zimbabwe saw first-half turnover decline by 6.1 per cent to US$32.2m and the EBITDA was off by 3.8 per ce...

Lafarge Cement Zimbabwe 1H profit slips

03 September 2013, Published under Cement News

Lafarge Cement Zimbabwe’s profit for the first half of 2013 fell 3.8 per cent, but the company expects a better performance in the remainder of the year due to cost reduction measures and an improved operating environment. The company said profit after tax in the first six months of 2013 fell to US$2.6m due to lower sales and the payment of retrenchment costs. Revenue for the six months to the end of June 2013 totalled US$32.2m, six per cent less than the US$34.3m posted in the same perio...

Sino-Zimbabwe kicks off upgrade project

10 July 2013, Published under Cement News

Sino-Zimbabwe Cement Company has started the first phase of an upgrade and refurbishment project at its factory situated 40km southwest of Gweru. Work is currently being undertaken on the cement mill and the kiln and is expected to be completed by the end of the year. Following completion of this first phase, clinker production capacity will raise to 0.2Mta. The second phase will focus on upgrading the warehouse and storage facilities and will be completed in the fourth quarter of...

South African market challenges

08 April 2013, Published under Cement News

Full-year data for South African cement sales released this week show that dispatches edged ahead in 2012, but the growth rate remained tepid. Producers will hope that the government's new infrastructure plans will deliver a new growth impetus to the market. Meanwhile, the country's leading cement producer is pursuing additional opportunities across sub-Saharan Africa to bolster profits.   South African cement demand has been rising gradually since 2010 and data released on Wednesday by t...

PPC Zimbabwe secures funding for new project

13 March 2013, Published under Cement News

PPC Zimbabwe has secured US$200m to build a second plant, according to local press reports. Chief executive, Zak Limbada, said: “We have secured US$200m for the projects but I cannot disclose the source at the moment,” All Africa press quoted him as saying. “Drilling is ongoing and we hope to have sample results (of limestone) in the next two months. With the permission of various regulators, we are hoping to commence the project soon after.” In November last year, PPC announced tha...

PPC to build new Zimbabwe cement plant

08 February 2013, Published under Cement News

PPC´s Zimbabwe subsidiary, Portland Holdings Ltd (PHL) has announced its intention to construct a new cement plant to service the Harare and central Mozambique markets. The new plant will have a capacity of approximately 1Mta and will coincide with the construction of a separate grinding facility in the neighbouring territory of Tete in Mozambique. Ketso Gordhan, the CEO of PPC said in a statement: "In recent years our investment in Zimbabwe has shown strong growth on the back of a more b...

Zimbabwe’s PHL agrees ownership deal with government

20 November 2012, Published under Cement News

PPC-owned cement producer Portland Holdings Ltd (PHL) has agreed an ownership deal with the Zimbabwean government and plans to invest US$200m to expand its operations in the country. PPC said the deal followed a series of engagements between PHL and the Economic Empowerment Ministry which culminated with the approval of an empowerment plan that complied with the indigenisation legislation. Zimbabwe’s indigenisation and empowerment laws require foreign-owned firms to sell at least 51 pe...

Sino-Zimbabwe pursues Masvingo project

25 May 2012, Published under Cement News

Sino-Zimbabwe has begun feasibility studies to establish the extent of limestone deposits in the Nyanda Mountains on the outskirts of Masvingo, Zimbabwe, where the company wants to build a plant. The Herald reported that the Chinese company announced plans last year to establish Zimbabwe's fourth cement plant in Masvingo after finding limestone deposits in the Nyanda Mountains. Now the newspaper states that Masvingo town clerk Mr Adolph Gusha revealed yesterday that the Chinese firm wa...

PPC first-half sales rise eight per cent, South Africa

17 May 2012, Published under Cement News

Pretoria Portland Cement, South Africa’s largest cement producer, reported an eight per cent rise in first-half profit (ending March 2012) and forecasts rises in regional demand. Net income rose to ZAR369m (US$45m) in the six months through March, from ZAR343m a year earlier. Cement sales volumes declined 3% for the period under review, mainly as a result of weak demand in the Western Cape and Botswana markets. However, group revenue increased by 8% to ZAR3.529bn as a result of favourabl...