Cement News tagged under: South Africa
PPC will strengthen its hand with AfriSam merger17 February 2017, Published under Cement NewsThe focus of a potential merger in South Africa between two major cement producers caught the eye this week. PPC and AfriSam already have a significant stake in the country’s cement market and by merging PPC would extend its dominance to control some 60 per cent of domestic sales, if it accepts AfriSam's offer to merge. As recently as November, PPC’s chief executive, Darryll Castle, suggested that there were too many cement companies operating in the country and that consolidation was requ... |
PCC and AfriSam in merger talks13 February 2017, Published under Cement NewsPPC is in merger talks with its nearest competitor, AfriSam Group, seeking to overcome valuation disagreements that prevented the completion of previous tie-up efforts, according to Reuters. AfriSam first proposed the merger in 2014, when infighting between the PPC board and its former CEO has put downward pressure on PPC’s share price. However, shares in PPC have performed significantly better, increasing by a third this year to date. The cement producer is valued at about ZAR11bn (US... |
South Africa: PPC to fund Slurry Kiln 9 project from B-BBEE deal19 January 2017, Published under Cement NewsJSE-listed cement maker PPC says it has started structuring its new broad-based black economic empowerment (B-BBEE) agreement, after it had concluded subscription agreements of another B-BBEE deal, from which the firm received ZAR1bn (US$73.7m). Sibonginkosi Nyanga, an analyst at Momentum SP Reid Securities, said the introduction of the new B-BBEE codes meant that companies had to relook at their empowerment deals. “The issue of the changing of the codes meant most companies, especia... |
Report predicts strengthening demand for cement additives in Nigeria and South Africa09 December 2016, Published under Cement NewsA new report by market research firm Frost & Sullivan forecasts that demand for cement additives in South Africa and Nigeria will grow at an annualised rate of 71 per cent as companies look to differentiate themselves from their competitors. "The weak rand and naira are making it expensive for cement additives manufacturers to continue importing products," noted Frost & Sullivan Visionary Science Industry Analyst, Constance Nyambayo. "As cement companies look to novel, cost-effective addi... |
PPC01 December 2016, Published under Cement NewsImproved cement sales in South Africa and growing volumes in Rwanda resulted in PPC reporting a 13 per cent increase in group cement sales in the six months ending 30 September 2016, compared to the previous six months. Revenue for the period came in at ZAR5.2bn (US$370m), compared to ZAR4.6bn in the six months ending 31 March 2016, representing an increase of 15 per cent. Revenue in the lime business advanced by six per cent while the company’s aggregates and ready-mixed operations recorded... |
Consolidation needed in South African market claims PPC chief18 November 2016, Published under Cement NewsDarryll Castle, chief executive of PPC, has said that he believes there are too many cement companies operating in South Africa, adding that necessary consolidation would leave his firm in a stronger position, the Zimbabwe Herald reports. Mr Castle told the newspaper that PPC was “keeping and eye on the whole industry” and refused to comment on claims that merger talks had been reopened between his firm and the AfriSam Group. “In the longer term, there’s no doubt that there needs to be... |
South Africa: PPC's 1H profits fall 66%16 November 2016, Published under Cement NewsPPC Ltd reported a 66 per cent decline in half-year profit, hit by higher finance costs. PPC said headline earnings per share (EPS) totalled 14 cents in the six months to end-September, compared with 41 cents a year earlier. Group cement sales volumes increased by 13 per cent, reflecting the impact of double-digit volume growth in the coastal regions. Group debt reduced to ZAR5.9bn (US$4.17bn) from ZAR9.2bn a year earlier following the receipt of proceeds from a rights issue. In Sept... |
PPC27 September 2016, Published under Cement NewsAt a presentation at the RMB Morgan Stanley Big Five conference in Cape Town on 26 September, PPC outlined how despite group cement sales volumes advancing by seven per cent in the first five months of FY2017, significant pressure on selling prices in the inland region saw prices fall by five per cent in the South African cement business. As a result, overall margins are under pressure despite good cost control and exchange rate gains, according to PPC. Over the same period, Rwanda saw vo... |
Zimbabwe: PPC's Harare plant to create growth opportunities15 September 2016, Published under Cement NewsPretoria Portland Cement (PPC) Zimbabwe says its new US$75m Harare plant wil be commissioned at year-end. PPC Zimbabwe Managing Director, Kelibone Masiyane, told NewsDay all was set for the biggest project to roar into life by the end of the year. The new facility will produce 0.68Mta of cement. "The Harare Msasa project is at an advanced stage, with commissioning already in progress and plant handover is on schedule for year-end," he said. "The new plant in Harare creates opportunities f... |
India: cement industry demand raises coal imports12 September 2016, Published under Cement NewsThe demand for coal with a high calorific value, primarily from the cement sector, combined with the doubling of clean environment cess has resulted in a shift in coal imports into India. Steam coal imports have been declining in the April-June 2016 quarter due to higher output of domestic mines, but the key shift relates to the origin of the imports. While Indonesia has accounted for the majority of coal imports, in the 1Q16-17 import growth of coal sourced from this Asian country has re... |