Cement News tagged under: South Africa
AfriSam annual budget discussion centres on sluggish construction sector05 March 2024, Published under Cement NewsAfriSam recently gathered its stakeholders for its Annual Budget Breakdown event in Johannesburg, to hear insights on the construction sector and budget speech. Econometrix Chief Economist, Dr Azar Jammine, highlighted that the South African construction and building industries were still in the doldrums, with little sign of emerging from it soon. Dr Jammine pointed to the low economic growth rate and the poor level of gross fixed capital formation as the key culprits for the situation... |
PPC concludes 51% CIMERWA stake disposal29 January 2024, Published under Cement NewsPPC has concluded the sale of its 51 per cent stake in CIMERWA , Rwanda. The South Africa-based cement producer sold its shareholding for US$42.5m to National Cement Holding Ltd. The sale enables PPC to focus on its core domestic market, where it sees opportunities to improve profitability and secure a more sustainable return on capital, reports The Chronicle. In a notice to shareholders, PPC Chief Executive Officer, Matias Cardarelli, said: "I am pleased with the timely completion of t... |
PPC welcomes new executive committee24 January 2024, Published under Cement NewsSouth African cement producer PPC has restructured its executive committee to help boost the company’s profitability amidst forecasts of low cement demand across the country, according to The Herald. Mokate Ramafoko has been appointed chief revenue officer (CRO), responsible for boosting PPC’s top line, while Kevin Ross has been named as the new chief legal and compliance officer and company secretary. Further appointments include Ernesto Acosta as chief operating officer (COO), respon... |
Afghan coal price surge impacts northern Pakistan cement production costs08 January 2024, Published under Cement NewsA spike in Afghan coal prices has affected the cost of cement production in northern Pakistan. JS Research reports that the northern-based cement companies, which operate 20 of the 26 production lines in Pakistan, are facing the challenge of high production costs due to a recent rise in imported coal prices. The cost trade-off between Afghan and international coal remains dynamic, leading to difficulties for the industry. The northern region players face costs of around PKR53,000/t (US$188.... |
InterCement completes sale of Africa businesses28 December 2023, Published under Cement NewsInterCement Participações SA has announced that the divestment of its businesses in South Africa and Mozambique – collectively known as the ‘Africa Business’ – to Huaxin Cement Co. Ltd (China), has been concluded upon receipt of the provisional price of USD231.6m. As provided for in the previously executed Stock Purchase Agreement, the provisional price will be adjusted in due course considering net debt, other customary adjustments and working capital levels of the Africa Business. |
South Africa regulator recalls Econo Cement product13 December 2023, Published under Cement NewsSouth African company Econo Cement has been accused of having a 'sub-standard' product by the National Regulator for Compulsory Specifications (NRCS). The regulator has asked consumers and hardware stores to participate in a nationwide recall of Econo Cement's CEM V/A S-V 32.5 N product after investigations found it failed to meet the minimum requirements of prescribed strength. CEO of the NRCS, Duncan Mutengwe, said the move was in the public interest to ensure the product does not pose... |
Saint-Gobain signs power agreement in South Africa12 December 2023, Published under Cement NewsSaint-Gobain has signed a renewable electricity supply agreement (power purchase agreement or PPA) with CVE, an independent French renewable energy producer, to secure about 140GWh of solar electricity in South Africa, over a 20-year period. This PPA is expected to cover around 40 per cent of the electrical needs of Saint-Gobain’s four major industrial sites in the country, producing gypsum and mortars. The sites are located in Brakpan, Alrode and Germiston in the Gauteng region, as wel... |
New PPC CEO confirmed29 November 2023, Published under Cement NewsFollowing the finalisation of his work permit, Matias Cardarelli has now been confirmed as the new chief executive officer of PPC Cement . He takes over from Roland van Wijnen, who will stay until the end of 2023 to facilitate a smooth handover. In September this year, the cement producer announced Mr Cardarelli's appointment, subject to the approval of his work permit. “The Board is pleased to announce that Matias’ work permit has been issued and that he will formally take over from Ro... |
Aggregate Industries appoints group strategy and commercial growth director23 November 2023, Published under Cement NewsAggregate Industries , part of Holcim , has appointed Kaziwe Kaulule as its new group strategy and commercial growth director. With a career spanning over 19 years with the Holcim Group, Mr Kaulule brings extensive experience to the role, including operations, digital transformation, business development, and mergers and acquisitions. His most recent role was as chief executive officer (CEO) at Lafarge Industries South Africa . He has also served as CEO at Lafarge Cement Zimbabwe and h... |
PPC reports 21% advance in revenue in 1HFY2421 November 2023, Published under Cement NewsPPC has posted revenue of ZAR6172m (US$335.2m) in the 1HFY24 (ended 30 September 2023), up 20.9 per cent YoY. EBITDA advanced from ZAR728m in the 1HFY23 to ZAR1069m in the same period a year later, while the EBITDA margin advanced three percentage points to 17.3 per cent. Capex over the six-month period came in at ZAR220m. Operating profit improved from ZAR273m to ZAR675m. In the 1HFY24, the South Africa and Botswana business contributed 57 per cent of group revenue (1HFY23: 68 per cent... |