Cement News tagged under: Southern Africa
PPC Zimbabwe managing director steps down19 October 2023, Published under Cement NewsPPC Zimbabwe Ltd has announced the resignation of its managing director, Kelibone Masiyane. Mr Masiyane joined the company in 1994 as a trainee electrical engineer at the Colleen Bawn plant, before becoming manager of both that and the Bulawayo plant in 2009. He was appointed managing director of PPC in 2016, reports Chronicle. “After 29 years of service at PPC Zimbabwe Limited, seven years of which were spent at the helm of the company, Mr Kelibone Masiyane informed the board of the... |
PPC opens new Highveld blending plant18 October 2023, Published under Cement NewsSouth Africa’s PPC has opened its new Highveld blending plant in Emalahleni in the Mpumalanga province. According to the company, the new facility demonstrates PPC’s ongoing commitment to improving efficiencies, reducing turnaround times, and delivering excellence to all stakeholders in the Highveld region. “The opening of this Highveld plant allows us to optimise our logistics through localisation, which is imperative in reducing transport costs and minimising transport-induced carbon e... |
PPC reports improved results in 5MFY23-2420 September 2023, Published under Cement NewsRevenue for PPC ’s South Africa and Botswana operations (excluding Zimbabwe and Rwanda) increased by five per cent YoY in the first five months of FY23-24 (April-August 2023), supported by higher average selling prices but lower sales volumes. Cement sales volumes in the two markets fell by six per cent YoY with inland volumes in August 2023 continuing their decline but at a lower rate. Coastal deliveries saw a downturn in volumes following higher-than-usual rainfall and weak retail demand.... |
PPC appoints new CEO05 September 2023, Published under Cement NewsSouth Africa-based cement producer PPC has appointed Matias Cardarelli as its new CEO. Mr Cardarelli was employed previously as CEO and chairperson of Natal Portland Cement , part of Intercement , in the last five years. Prior he also held posts at Amreyah Cement in Egypt and Yguazú Cementos in Paraguay. In addition, following the onset of COVID-19 and a new entrant into the Mozambican cement market, his portfolio had been expanded to include Cimentos de Mozambique , where he su... |
InterCement sells African businesses to Huaxin Cement04 July 2023, Published under Cement NewsInterCement Participações S.A . has reached an agreement with Huaxin Cement Co Ltd regarding the sale of InterCement’s businesses in Mozambique and South Africa. Following the announcement of the sale of InterCement's operations in Egypt in January 2023, the sale of the remaining Mozambique and South Africa businesses further positively contributes to the group's ongoing liability management plans and the acceleration of InterCement’s broader strategic review to return focus to its core m... |
Afrimat acquires Lafarge South Africa Holdings22 June 2023, Published under Cement NewsLafarge South Africa Holdings (LSA) is being acquired by South Africa-based mining and materials company, Afrimat, The deal includes all the subsidiaries of the LSA Group, which will become part of Afrimat’s Construction Materials division. LSA Group, a member of the Holcim Group, currently supplies a range of products to the construction industry, including cement, concrete, aggregates and fly ash. The purchase price for the acquisition of the equity in the LSA Group is US$6m, with a... |
PPC seeking buyers for CIMERWA stake21 March 2023, Published under Cement NewsSouth Africa-based PPC is looking to sell its shareholding in Rwandan cement producer CIMERWA . “PPC is selling its 51 per cent stake in CIMERWA and the government will discuss if it is able to buy the stake,” Rwanda Development Board CEO, Clare Akamanzi told a news agency. “PPC is looking for buyers.” A sale of its stake in CIMERWA would enable PPC to focus more on its South African core operations and further reduce debt. CIMERWA operates a 0.6Mta integrated cement plant in Bugar... |
PPC expects drop in South Africa and Botswana sales volumes17 March 2023, Published under Cement NewsSouth Africa-based PPC forecasts a 4-7 per cent drop in sales volumes in its domestic market and Botswana for the 12 months ending 31 March 2023, according to Reuters. To protect and restore its EBITDA margins it plans further cost reduction measures across its portfolio. Capital expenditure for South Africa and Botswana is expected to be in the range of ZAR280m-310m (US$15.25m-16.89m) for the FY22-23. The company expects net debt in the two countries to be between ZAR725m-775m at year-... |
PPC posts 23% drop in EBITDA17 November 2022, Published under Cement NewsPPC Ltd , which is currently finalising its results for the six months ended 30 September 2022, has posted a 23 per cent YoY drop in EBITDA to ZAR728m (US$42.1m) in the six months ended 30 September 2022. Excluding PPC Zimbabwe, EBITDA fell 12 per cent YoY. Net debt continued to improve, coming in at ZAR677m on 30 September 2022, compared to ZAR1009m in March of this year. According to the company, shareholders should expect earnings per share (EPS) for the 2022 six-month period to “diff... |
Huaxin increases Chilanga stake26 July 2022, Published under Cement NewsHuaxin Ltd has increased its shareholding in Zambia-based Chilanga Cement from 75 to 81.19 per cent following the purchase of 50,013,468 shares, according to the Times of Zambia. The company submitted a cash offer to the board of directors of Chilanga Cement to purchase from the minority shareholders, all the remaining 50,013,468 shares that did not own representation of 25 per cent shareholding. |