Cement News tagged under: South Africa
Changes to PPC executive team24 August 2017, Published under Cement NewsPPC has appointed Njombo Lekula as managing director of its Southern African Cement division. Previously the managing director of Rest of Africa Cement, Mr Lekula has been with PPC for 27 years, holding a number of cement manufacturing and executive management roles. Meanwhile, Mokate Ramafoko has been appointed as the managing director of Rest of Africa Cement. He is a chemist by profession with over 23 years of experience in the cement manufacturing, quality assurance and cement process... |
PPC 1Q17 results in line with expectations21 August 2017, Published under Cement NewsPPC revenue for the period ended 30 June 2017 (1Q17) is ahead YoY while group EBITDA is in line with the year-ago period. The advance has been attributed to good cost management. Johan Claassen, interim CEO, said: "Our focus is firmly on delivering improved profitability and liquidity in the shorter term while our longer term strategy remains unchanged. More specifically, we will focus our management effort on the new operations in the DRC and Ethiopia, ensuring that they deliver to expec... |
PPC revenue growth supported by rest of Africa cement business08 June 2017, Published under Cement NewsPPC reported that group revenues for the year ending March 2017 rose by five per cent to ZAR9641m (US$750m). The growth was supported by the rest of Africa cement business where revenues rose by nine per cent, and the aggregates and ready-mix segment which saw revenues increase by 23 per cent. Group EBITDA decreased by 13 per cent to ZAR2065m while the EBITDA margin achieved was 21.4 per cent (March 2016: 26 per cent). The decline was mainly attributable to the southern Africa cement seg... |
Lafarge Africa revenue rises26 April 2017, Published under Cement NewsLafarge Africa Plc announced a profit after tax of NGN5.2bn (US$17m) versus NGN1.9bn in the same period of last year driven by an increase in revenue, comparatively higher gross margin and higher investment and other income. Cement revenue grew by 61 per cent YoY, as relatively higher prices in both Nigeria and South Africa more than offset the lower sales volume experienced in both markets. In Nigeria volumes grew by six per cent compared to the final quarter of 2016 but were down by 12 ... |
PPC achieves two major milestones as part of its expansion strategy21 April 2017, Published under Cement NewsAs part of its expansion strategy, PPC announced this week the inauguration of its Ethiopian operation, Habesha Cement, and the first truck dispatch load of saleable cement from its plant in the Democratic Republic of the Congo. The inauguration of Habesha Cement marks the completion of the construction of the factory and installment of the technical and non-technical systems.The ceremony, officiated by the Prime Minister of Ethiopia, Ato Hailemariam Desalegn, was held at the plant in Hole... |
Pakistan sees decline in 1HFY17 cement exports to South Africa and Afghanistan03 April 2017, Published under Cement NewsPakistan cement exports revenue continued their downward trend, with most of the 14.4 per cent YoY decline in 1HFY17 (July-December) due to two markets, South Africa and Afghanistan. However, a slight consolation was continued strong demand from India which partially offset the declines witnessed in the two aforementioned markets, the country's Central Bank observed in its second quarterly report released on 31 March 2017. Cement exports to Afghanistan and African countries (mainly Sout... |
AfriSam reported to replace CEO ahead of PPC merger17 March 2017, Published under Cement NewsTo help enable the merger with rival PPC, AfriSam is set to replace its CEO, Stephan Olivier after nearly seven years of leading the firm, according to local press reports in South Africa. He would be replaced on a short-term contract by Rob Wessels, a former chief investment officer at AfriSam's black empowerment partner Phembani Group. The new management team would potentially implement the merger with PPC through a reverse of AfriSam into its competitor's listing, two of the source... |
South Africa's proposed carbon tax could cost PPC ZAR90m15 March 2017, Published under Cement NewsSouth Africa’s proposed draft carbon tax bill published in November could see PPC liable for an estimated ZAR90m in carbon tax, according to Pretoria News. However, PPC CEO, Darryl Castle, said the cement producer was currently looking at a number of initiatives to reduce this tax burden. He added that the tax regime did not apply to imports into South Africa. Furthermore, he said it had not been meaningfully implemented elsewhere and Australia had scrapped a similar initiative due to the... |
South Africa: rain dampens PPC Jan-Feb sales14 March 2017, Published under Cement NewsPPC announced that adverse weather had negatively affected its cement and concrete sales in South Africa during January and February 2017. Rainfall in excess of 200mm was experienced in many parts of the country during these two months. The cement manufacturer said it managed to reduce net debt to ZAR4.4bn (US$333.13m) as of December 2016 due to the conclusion of a component of the first empowerment transaction. PPC concluded Strategic Black Partners (SBPs) and Community Service Groups (C... |
PPC27 February 2017, Published under Cement NewsSouth African cement manufacturer PPC is reportedly in talks with its nearest rival AfriSam Group over a possible merger. Merger talks first took place in 2014 when PPC’s share price came under pressure. Today PPC is valued at around US$823m and has borrowed heavily of late to build new capacity in Ethiopia, Rwanda, Zimbabwe and the Democratic Republic of Congo. However, the slow implementation of infrastructure investment in its home market and the loss of its investment grade debt ratin... |