Cement News tagged under: South Africa
Cape Lime business to boost Afrimat's earnings25 September 2017, Published under Cement NewsAggregates and building materials supply company Afrimat, based in Durbanville, Western Cape, South Africa, expects to see higher profit contributions from its Cape Lime business going forward. Afrimat CEO, Andries Van Heerden, said: "We are hedged against economic volatility through wide diversification. The operational contribution is interesting to breakdown," Mr Van Heerden said. "In financial 2016 the clinker segment accounted for 38 per cent of Afrimat’s business, the Glen Dougl... |
Dangote confirms "preliminary talks" with PPC15 September 2017, Published under Cement NewsTalks between Dangote Cement and PPC regarding the possible acquisition of PPC by Dangote are in a "preliminary stage", according to the Nigeria-based cement producer, confirming news reports earlier this week . If successful, Dangote Cement would extend its presence in South Africa. Currently the company owns a 64 per cent stake in Sephaku Cement. "DCP (Dangote Cement Plc) hereby confirms that the board of directors of DCP has merely communicated its interest to the board of directors o... |
AfriSam wins two SARMA awards15 September 2017, Published under Cement NewsSouth African cement producer AfriSam dominated at the recent Southern African ReadyMix Association (SARMA) awards by winning two of the four accolades bestowed on the industry’s top performers for 2017. SARMA’s annual awards, held in Gauteng during the Concrete Conference in August, saw AfriSam receive both the 'Best Plant' award for its Wynberg ready-mix facility and the 'Best Fleet' award for its Gauteng ready-mix fleet. "The team is justifiably excited about winning this prestigious... |
PIC reportedly backs joint offer for PPC13 September 2017, Published under Cement NewsPPC'S largest shareholder, Public Investment Corporation (PIC), is supporting a joint offer for South Africa's biggest cement-maker from domestic rival AfriSam Group and Canadian insurer Fairfax Financial Holdings, as the merger would create a national champion, according to people familiar with the matter, reported in the Cape Argus. The enlarged cement producer will be able to benefit from significant cost savings as well as expand more effectively on the continent, according to the sou... |
Dangote sets eyes on PPC Group11 September 2017, Published under Cement NewsAliko Dangote is considering counter offers for the PPC Group and as such could spark a bidding contest for South Africa’s largest cement producer, reported The Star who quoted people close to the subject. Dangote Cement sees the bid as a way to accelerate its pan-African expansion, but the company is only one of several companies keeping a close eye on the bidding. PPC has already received one rival offer to the AfriSam Group bid from Canada-based Fairfax Financial Holdings and both bids... |
New Country CEO for Lafarge South Africa07 September 2017, Published under Cement NewsRossen Papazov has been appointed country chief executive officer (CCEO) of Lafarge South Africa Holdings, effective 1 October 2017. For the last four years, Papazov has been CCEO for Holcim (later LafargeHolcim) in Azerbaijan. Papazov joined the international Holcim group in 2000 as the business development manager for Bulgaria. He went on to undertake a number of other management positions, including general manager of Aggregates and Readymix in Bulgaria, marketing director for Aggregat... |
AfriSam submits revised PPC merger offer05 September 2017, Published under Cement NewsSouth Africa’s cement maker AfriSam has submitted a revised merger approach to larger domestic rival PPC, the company said on Monday. AfriSam’s latest proposal values PPC at 5.75 rand per share, or SAR9.2bn (US$709.47m), and is the company’s third attemp to merge with PPC and create a pan-African cement group with assets across six countries. As part of the proposal, the African unit of Canada's Fairfax Africa Holdings offered to buy 22 per cent of PPC at 5.75 rand per share for SAR2b... |
South African merger talks: make or break?01 September 2017, Published under Cement NewsFollowing the collapse of a second round of talks between South Africa's two leading cement producers on a proposed merger, will AfriSam's expected new proposal be enough to push negotiations through and be a case of third-time lucky? Last Friday AfriSam confirmed that it had cancelled the Heads of Terms it had entered into with PPC, which would have led to a formal merger agreement but says it remains committed to pursuing a deal. "AfriSam remains firm that a transaction between AfriSam a... |
AfriSam to come up with new merger plan30 August 2017, Published under Cement NewsMerger talks between South African cement producers AfriSam and PPC have been terminated after AfriSam retracted the heads of terms (HoT) that were entered into in February. PPC on Friday said AfriSam planned to rather submit an undisclosed new proposal regarding a possible combination of the two companies. AfriSam acting chief executive, Rob Wessels, said the company remained committed to pursuing a transaction and intended to submit a new proposal regarding a possible merger to PPC. ... |
PPC Zimbabwe achieves record cement volumes25 August 2017, Published under Cement NewsPPC has recorded the highest production volumes in Zimbabwe for the first time in 18 years following the opening of its new US$82m grinding plant in Harare. The group's interim CEO, Johan Claassen, said Zimbabwe operations continue to exceed expectations, with the investment in the 1.8Mta Harare mill contributing to volume growth. "PPC Zimbabwe also saw double-digit volume growth compared with last year, and in June 2017 recorded the highest monthly volumes since June 1999," he said. ... |