Cement News tagged under: Zimbabwe
Lafarge Cement Zimbabwe Ltd expects 30% decline in cement volumes in 2Q2018 May 2020, Published under Cement NewsLafarge Cement Zimbabwe Ltd said business volumes had declined considerably due to low demand amid the COVID-19 pandemic. The LafargeHolcim subsidiary said the lockdown will have an inevitable impact on volumes for the second quarter in 2020. "It is projected that 2Q2020 volumes will decline by 30 per cent with the possibility of spill over risks impacting the second half of the year," the company said in its first quarter trading update for 2020. "The ripple effects of the lockdown and b... |
New plant investments in Zimbabwe31 March 2020, Published under Cement NewsLivetouch Investments is set to invest around US$15m towards the construction of a cement plant in Hwange, Zimbabwe. Sino-Zimbabwe Cement Co is also planning to set up a plant in a similar location, according to The Sunday News. Livetouch is reportedly at an advanced stage of obtaining an Environmental Impact Assessment certificate. The location of the plant is due to its close proximity to a coal source. Elsewhere, Ndumiso Mdlalose, local board town secretary for Hwange, confirmed tha... |
PPC Zimbabwe reports 15-20% volume drop23 March 2020, Published under Cement NewsPPC Zimbabwe has reported a fall of 15-20 per cent in volumes for the 11 months ended February 2020 due to the country’s economic environment, reports the Zimbabwe Mail. However, the company has recorded improved EBITDA margins of 35-38 per cent. Inflationary pressures in the country have increased the cost of inputs as well as decreasing consumer spending. Limited access to foreign currency has also added to the challenges. “Despite the challenging trading conditions in Zimbabwe, includ... |
Lafarge Zimbabwe appoints new Chief Executive04 March 2020, Published under Cement NewsLafarge Zimbabwe (LafargeHolcim group) has appointed Precious Murena-Nyika as its new chief executive. Siame Kaulule, who previously held the position, left in January 2020 to take up a new position for the company in South Africa. "Precious Murena-Nyika was yesterday confirmed as the new Lafarge Zimbabwe CE. The announcement was done by Lafarge East and Southern Africa area manager Pierre Deleplanque, who is in the country. Her appointment came at a time there have been calls to have a loc... |
Lafarge Zimbabwe sees cement demand drop 19%29 November 2019, Published under Cement NewsLafarge Zimbabwe has seen a 19 per cent decline in cement consumption. Flora Chinhaire, Lafarge Zimbabwe Company Secrtary reported that hyper-inflation in the country had impacted demand. The Zimbabwe National Statistics Agency's inflation rates for September 2019 saw a 350 per cent rise YoY. “The operating environment in the second half of the year continues to be challenging for the business as the effects of hyperinflation become more evident due to cost inflation caused by devaluation... |
PPC's group revenue impacted by Zimbabwe21 November 2019, Published under Cement NewsPPC announced a group revenue of ZAR4.9bn (US$330.1m) and group EBITDA of ZAR868m for the six months ended 30 September 2019. Group revenue was down 12 per cent on results from the six-month period at ZAR5.6bn, which was attributed to a 17 per cent volume decline in group cement volumes. Group EBITDA was also affected by Zimbabwe's currency devaluation and hyperinflation as well as the trading environment in South Africa, plus a one-off restructuring costs of ZAR83m. When excluding PPC Zimb... |
PPC26 September 2019, Published under Cement NewsImports of cement into South Africa have risen once again, up by 293 per cent YoY in July, putting the increase for the first seven months of the year at 17.5 per cent, despite the severely depressed state of the country’s construction sector. Imports are predominantly arriving from Vietnam, according to local reports. Last month, PPC, along with a number of other major South African cement producers, applied to the country’s International Trade Administration Commission (ITAC) for what t... |
Livetouch International seeks production increase21 June 2019, Published under Cement NewsZimbabwean cement producer Livetouch International, part of Diamond Cement, plans to increase its cement capacity utilisation rate from the current 45 per cent. The Redcliff-based company has a 0.5Mta plant but has been operating at low capacity rates due to a shortage of raw materials, according to The Herald. The company’s CEO, Don Wang, said the company had been relying on competitors such as PPC for the supply of limestone. “We have, however, put measures to make sure that we capacit... |
PPC22 May 2019, Published under Cement NewsPPC Zimbabwe is planning to invest some of its dividends in government bonds to increase local procurement, according to the company. PPC currently runs three plants in the country with a total production capacity of 1.4Mta. Around 70 per cent of inputs for the plants are now sourced locally. Over the last five years, PPC Zimbabwe has spent more than US$140m refurbishing its plants and is about to launch a seventh product into the market. According to Nkosana Mapuma, sales and marketing m... |
Lafarge Zimbabwe invests US$25m to improve utilisation13 May 2019, Published under Cement NewsLafargeHolcim group has unveiled a US$25m investment programme to increase utilisation at its subsidiary Lafarge Cement Zimbabwe. However, Lafarge Cement Zimbabwe said the holding group has called on the government to stabilise the availability of electricity and resolve foreign currency issues as these are key determinants to its expansion drive. Milajan Gutovic, LafargeHolcim regional head of the Middle East and Africa group executive committee, said during a meeting with President o... |