Cement News tagged under: South Africa
PPC appoints new chief audit executive, South Africa17 September 2012, Published under Cement NewsPretoria Portland Cement (PPC) appoints Phuti Semenya, a qualified Chartered Accountant as the Chief Audit Executive. This appointment is in line with the PPC strategic imperatives that include assurance on governance, risk management and internal controls. PPC said that Semenya brings with him an extensive experience and knowledge base in internal and external auditing that was acquired over a period of 14 years in auditing firms and leading financial institutions. Most recently, Semenya... |
India Cements 1Q net profit drops 39.2%14 August 2012, Published under Cement NewsIndia Cements Ltd today said that it has reported a decline of 39.2 per cent in its net profit for the first quarter ended June 2012 at INR62.07 crore. The net profit of the company stood at INR102.03 crore during the same period a year ago, said India Cements in its filing to the Bombay Stock Exchange on August 13, 2012. Meanwhile, the company has said it is exploring at possibilities of exports to Sri Lanka and South African countries. Speaking to Business Standard of India, N Srini... |
South Africa's PPC invests in Ethiopian cement firm26 July 2012, Published under Cement NewsSouth Africa's Pretoria Portland Cement and a state investment body South Africa’s Industrial Development Corporation (IDC) have jointly secured a 47 per cent equity stake in the Habesha Cement Share Company (HCSCo) of Ethiopia. PPC’s US$12m cash investment secures 27 per cent in HCSCo and is a significant step in PPC’s African expansion strategy. This is PPC’s first investment into the Ethiopian and east African cement market. The IDC will simultaneously invest US$9m for a 20 per cent stak... |
PPC in US$133m deal with black investors12 July 2012, Published under Cement NewsSouth African cement maker Pretoria Portland Cement (PPC) is to sell a 6.5 per cent stake to its staff and black investors in a deal worth about US$133.4m. PPC said the broad-based black economic empowerment (BBBEE) deal, which is the second in four years, would take shareholding by black investors in its South African operations to 26 per cent and enable it meet the rules set out by the government. PPC said on Thursday it would cancel about 20 million treasury shares it bought back to ... |
South Africa’s first-quarter sales rise 6.7%04 July 2012, Published under Cement NewsSouth African cement sales rose 6.7 per cent YoY in the first quarter of 2012 to 2.64Mt, data by the Cement and Concrete Association (C&CI) showed. Average daily sales for the 1Q12 were 41,863t, up 6.7 per cent on the same quarter as last year. The moving annual total (April 2011-March 2012) reached 11.4Mt, up 5.6 per cent on the same period of the previous year. Up until April this year the C&CI reported monthly data a few days after the end of the month‚ but the Competition Commission... |
AfriSam adapts cement product portfolio, South Africa07 June 2012, Published under Cement NewsSouth African cement producer AfriSam says it has re-engineered its cement product portfolio to provide fit-for-purpose solutions to almost any building or construction requirement. Speaking to Business Day, CEO Stephan Olivier said: "At AfriSam, we understand that the future existence of our business depends on our ability to continuously adapt and improve our current product and service offerings.” He said the company needed to develop innovative, technologically advanced products to mee... |
PPC first-half sales rise eight per cent, South Africa17 May 2012, Published under Cement NewsPretoria Portland Cement, South Africa’s largest cement producer, reported an eight per cent rise in first-half profit (ending March 2012) and forecasts rises in regional demand. Net income rose to ZAR369m (US$45m) in the six months through March, from ZAR343m a year earlier. Cement sales volumes declined 3% for the period under review, mainly as a result of weak demand in the Western Cape and Botswana markets. However, group revenue increased by 8% to ZAR3.529bn as a result of favourabl... |
Pakistan cement exports earn US$339m in 9MFY2011-1225 April 2012, Published under Cement NewsDuring 9MFY2011-12 (July-March), Pakistan cement exporters saw recovery in cement exports in terms of value. In Pakistani currency, the export also rose by 6.06%. In addition, the average cement price improved. The Pakistan cement manufacturer and exporters exported 6.51Mt of cement and earned US$339.208m compared to 6.72Mt at US$329.696m in the corresponding period last year. The figures indicate that cement exports fell by 3.07% in terms of volumes but increased 2.89% in terms of dolla... |
Sephaku cement project on track, South Africa28 March 2012, Published under Cement NewsConstruction work at Sephaku Cement’s new Aganang plant near Lichtenburg is gathering pace, a company official has said. Engineering News (EN) reported Aganang project manager, Werner Kieweg, as saying that its Chinese contractor, Sinoma International Engineering, currently had about 238 Chinese employees on site and about 38 local workers. At the peak of construction – expected in January 2013 – some 500 local workers and 1000 Chinese employees are expected to be employed on the project.... |
PPC chief executive to step down at year-end, South Africa28 March 2012, Published under Cement NewsThe chief executive officer of South Africa’s Pretoria Portland Cement (PPC), Paul Stuiver, says he will stay on until the end of the to see the recruitment process for his successor through as his three year contract comes to an end. PPC is seeking a replacement for Mr Stuiver whose contract agreement ends in May. Mr Stuiver has agreed to stay on until year-end to allow for the completion of “critical commercial projects and for the recruitment process,” South Africa’s Business Daily rep... |