Cement News tagged under: South Africa
India becomes second-largest market for Pakistani cement exporters22 January 2018, Published under Cement NewsPakistan’s cement exports to India grew by 26.3 per cent in FY17. Since beginning in 2010, India has become the second-largest market for cement exporters, with a 27 per cent share of the total exports from Pakistan in FY17. Elsewhere, exports to Pakistan’s largest market, Afghanistan, fell for the sixth consecutive year in 2017. This has been attributed to a large portion of Afghanistan’s demand now being met by cheaper cement imported from Iran. The decline is part of an overall decrea... |
Lafarge Africa to sell SA unit?05 January 2018, Published under Cement NewsLafarge Africa could put up its South African unit for sale, according to analysts at Exotix Capital. Proceeds of the sale could then be used to strategically shore up and stabilise the company’s Nigerian business, kickstarting the region’s merger and acquisition activity. The South African cement sector has become increasingly competitive while in the rest of Africa, PPC, Lafarge, Dangote, Bamburi and Twiga Cement are seen consolidating their markets. In addition, Chinese investors have ... |
LafargeHolcim03 January 2018, Published under Cement NewsThe 39.9 per cent-owned LafargeHolcim associate Huaxin Cement is investing in a US$140Mta cement works that it is building in Nepal. Lafarge Malaysia’s turnover came down by some 13 per cent to US$409.5m in the first nine months of 2017, while a net loss of US$33.1m was incurred, compared with a US$10.5m profit for the same period last year. The company lost money in each of the quarters of this year and a return to profit is not expected until the middle of next year. LafargeHolcim A... |
LafargeHolcim withdraws from further talks with PPC14 December 2017, Published under Cement NewsLafargeHolcim has ended talks with South Africa’s PPC about a potential deal, said the Swiss cement producer in a brief statement. The step comes only a day after Canada’s Fairfax Africa Investments Proprietary Ltd pulled out its attempt to buy 23 per cent of the South African cement producer and a week after CRH exits talks with PPC. |
Fairfax drops plans to buy 23% of PPC12 December 2017, Published under Cement NewsCanada's Fairfax Africa Investments Proprietary Ltd has pulled out of its attempt to buy 23 per cent of South African cement producer PPC for ZAR2bn (US$146.34m), PPC said on Monday. "On 8 December 2017, the Independent Board received Fairfax's formal notification that it will not proceed with the partial offer and that, accordingly, the Fairfax partial offer circular will not be posted to PPC shareholders," PPC said in a statement. Fairfax offered to buy 23 per cent of PPC in September... |
CRH exits PPC talks but LafargeHolcim discussions continue07 December 2017, Published under Cement NewsIrish cement producer CRH has decided to pull out of the process to bid for rival PPC, the South African company said on Thursday. Last month, CRH made an undisclosed cash bid for PPC and had been given time for due diligence and to submit an updated bid, but CRH has now opted to drop its interest in PPC. "CRH has decided not to submit an updated expression of interest and therefore considers it appropriate to withdraw from the Independent Board’s process," PPC said in a statement. In... |
PPC plans Western Cape mega plant30 November 2017, Published under Cement NewsPPC is planning to build a new large-capacity plant in the Western Cape, South Africa. The company is expected to make a formal announcement about the new works next year, according to Business Report. Johan Claassen, interim CEO of PPC, said the company had decided to carry out a feasibility study on a larger-than-previously planned facility at its Riebeeck works. The environmental impact assessment (EIA) of the previous project had been approved, but the revised scope of the new pla... |
PPC board rejects Fairfax offer24 November 2017, Published under Cement NewsThe board of PPC has advised its shareholders not to accept the offer of Fairfax Africa Investment Pty Ltd to buy a stake in the South African cement producer. The company will continue talks with LafargeHolcim and CRH on the sale. The Takeover Regulation Panel has extended the deadline for the Fairfax offer to 12 December 2017, according to the cement producer’s board. Fairfax has signalled its intention to make an offer to acquire ordinary shares representing ZAR2bn (US$144.1m) of PPC’s... |
PPC 1H17 earnings strong on robust Zimbabwe and Rwanda sales23 November 2017, Published under Cement NewsSouth 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... |
CRH plans cash bid for PPC14 November 2017, Published under Cement NewsIreland’s CRH has registered its interest in submitting a cash bid for South African cement producer PPC as it takes on AfriSam and LafargeHolcim. While PPC did not disclose the amount of the bid, it said it would give the Irish group time for due diligence and to submit an updated bid next week which would include a value per share for the company. "Historically, it would have been unusual for CRH to enter a bidding situation for a listed company, given management's preference for pu... |