Cement News tagged under: PPC
South Africa: PIC increases stake in PPC06 May 2015, Published under Cement NewsThe Public Investment Corporation (PIC) had increased its investment in PPC to 15.165 per cent, the South African cement producer yesterday. The PIC confirmed in December when the AfriSam Group made a non-binding proposal of a merger with PPC that the corporation held 12.57 per cent of PPC and 66 per cent of AfriSam. Talks between the two cement producers were halted in March when they were unable to reach consensus on the terms of the proposed merger. |
PPC to ease expansion, focus on existing projects23 April 2015, Published under Cement NewsPPC said it will expand more slowly after spending on its 'Rest of Africa' projects has raised its debt load, the company's chief executive said on Wednesday. PPC is building plants in African countries as part of a wider plan to generate 40 per cent of its sales outside its home market by 2017. However, spending on these projects is pushing up its debt levels and CEO Darryll Castle said PPC's debt would likely hit as much as ZAR12bn (US$982m) in the next two years and possibly breach agree... |
Algeria: construction on Hodna-PPC M’sila plant to start03 April 2015, Published under Cement NewsConstruction on the 2.2Mta plant in M'sila, a joint venture between Hodna Algerian Cement Co (HACC) and PPC (South Africa), will start soon, according to Abdelkrim Mansouri, director general of the National Investment Development Agency. Nearly DZD28bn, or 80 per cent of the investment will be financed by Algerian banks, while the balance is funded by the two partners. Signed in February 2014, the agreement also entrusts PPC with the management of the works. |
PPC and AfriSam call off merger talks30 March 2015, Published under Cement NewsSouth African cement producers PPC and AfriSam have called off merger talks after they could not reach a consensus on the terms, both the companies said on Friday. Last December PPC confirmed it had received a conditional, non-binding merger proposal from AfriSam. Following "extensive discussion" between the two companies, the parties have not been able to reach consensus on the terms of the merger and therefore have terminated their discussions," PPC said in a statement on Friday. ... |
PPC continues to study AfriSam proposal, South Africa12 March 2015, Published under Cement NewsPPC said that its board is continuing to consider the indicative non-binding proposal from AfriSam Group for a merger between the two South African cement producers. The company said it would make a further announcement in due course once its board had concluded the consideration process. “Shareholders are hereby advised that the Board is continuing to consider the indicative proposal and PPC will make a further announcement in due course once it has concluded its consideration proces... |
PPC03 February 2015, Published under Cement NewsPPC’s earnings in the six months to the end of March 2015 could tumble by between 25 and 45 per cent YoY, according to a recent company trading statement. Despite positive cement sales, consolidation of Safika Cement (South Africa) and growth in both Zimbabwe and Botswana, the operating environment in South Africa is expected to remain challenging in both 2015 and 2016. Much of the decline is blamed on weak economic growth and power shortages although increased competition is also taking its... |
PPC cautions on half-year earnings27 January 2015, Published under Cement NewsSouth Africa's biggest cement maker, PPC, advised yesterday that its earnings in the six months to the end of March 2015 may fall by as much as 45 per cent partly due to rising finance costs. The company said in a trading statement released yesterday that it headline earnings per share for the six for the first half of the fiscal year is expected to be between 25 and 45 per cent lower than the comparative period of the previous year. “Notwithstanding a weaker trading environment, the mai... |
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... |