Cement News tagged under: Zimbabwe

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PPC Zimbabwe files High Court application

12 December 2017, Published under Cement News

PPC Zimbabwe has filed a High Court chamber application for an interdict order to stop the Zimbabwe Revenue Authority (ZIMRA) from recovering a disputed US$3m interest and liability claim from its accounts, according to NewsDay. PPC Zimbabwe has stated in its application that ZIMRA was threatening to recover the money although the issue had yet to be resolved in court. ZIMRA’s interest and liability claim is based on the interest accrued on a tax liability claim of US$22m, which PPC Zimba...

PPC 1H17 earnings strong on robust Zimbabwe and Rwanda sales

23 November 2017, Published under Cement News

South Africa’s PPC Ltd reported in its inaudited 1H17 accounts a 36 per cent YoY rise in first-half earnings, supported by a strong performance in Zimbabwe and Rwanda. Headline earnings per share increased from ZAR0.14 to ZAR0.19 per share. Group revenue edged up one per cent to ZAR5.188bn from ZAR156m in the comparable year-ago period, while EBITDA advanced four per cent to ZAR1.2bn. Volumes sold increased by two per cent to around 3Mt. Net profit attributable to PPC shareholders increas...

Livetouch Investments starts production at Redcliff plant

30 October 2017, Published under Cement News

Livetouch Investments has commenced cement production at its 410,000tpa capacity plant in Redcliff, Zimbabwe, a senior company executive said. Managing director Dongning Wang told The Sunday Mail Business that the US$34m plant had started operations and has the second biggest production capacity of all local cement producers. Livetouch’s production is currently being distributed to potential customers to give the potential consumers a feel of the quality of the products. "This is o...

PPC raises prices and volumes

29 September 2017, Published under Cement News

South Africa-based cement producer PPC said it improved effective selling prices in its South African cement business and is steadily increasing output at its operations in the rest of Africa. The company saw a rise in volumes of 15 and 35 per cent in Zimbabwe and Rwanda, respectively in the five months to August, according to an investor presentation at the RMB Morgan Stanley Big Five Investor Conference in Cape Town. Effective selling prices increased by two per cent in South Africa ...

PPC Zimbabwe's MD vows recent investments will come good

21 September 2017, Published under Cement News

PPC Zimbabwe's Managing Director, Kelibone Masiyane, has spoken out on the long-term commitment to the local cement market and on its recent Harare and Colleen Bawn investments. PPC Zimbabwe has invested over US$120m in different projects in Zimbabwe since 2009 and is looking forward to do more, Mr Masiyane told NewsDay. "We have invested over US$120m [since 2009]. Recently, we just commissioned the Harare plant at a cost of US$82m. In Colleen Bawn we installed modern great cooler at a ...

PPC 1Q17 results in line with expectations

21 August 2017, Published under Cement News

PPC 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...

Sino Zimbabwe sales boosted by housing developments

07 August 2017, Published under Cement News

Sino Zimbabwe Cement realised a 10 per cent YoY increase in sales volumes in the second quarter of 2017 driven by housing developments across the country.   Yong Wang, managing director of the local cement producer, told Business Chronicle (Zimbabwe) that the company has been facing a number of challenges including liquidity constraints and the alleged smuggling of cheap cement imports, especially from South Africa. However, he noted that “there has been progress,” mainly due to housing deve...

PPC

26 June 2017, Published under Cement News

For the year ending March 2017, PPC saw its group revenue improve by five per cent to ZAR9641m (US$750m), compared to ZAR9187m in the previous year. EBITDA over the same period slipped by 13 per cent from ZAR2385m to ZAR2065m, while operating income fell 24 per cent from ZAR1630m to ZAR1233m. The uptick in revenue was attributed to the strength of its rest of Africa business, which saw its EBITDA increase by 19 per cent over the period. The rest of Africa cement business saw revenues adva...

Dangote Cement

26 June 2017, Published under Cement News

Production is due to start at Dangote’s new 1.5Mta cement grinding plant in Bouansa, Republic of Congo, this month, according to the company. The US$300m facility will take the country’s total cement production capacity to 2.55Mta along with Cimaf (0.5Mta), Sonocc (0.25Mta) and Forspal (0.3Mta). The works will also boost Dangote’s capacity across Africa to more than 40Mta. Construction is currently underway on a new 3Mta grinding plant in Côte d'Ivoire and two new plants have been announc...

PPC

26 April 2017, Published under Cement News

PPC’s new cement grinding plant in Harare, Zimbabwe, is now officially open for business. The US$85m works was opened by President Robert Mugabe and marks the company’s third production site in the country. With a cement production capacity of 0.7Mta, the plant was constructed by China’s Sinoma and features a cement ball mill with dynamic separator, a single-line packer, palletiser, storage warehouse, road and rail offloading facilities, and a bulk bag-loading facility. Taking PPC’s to...