Morning clouds. Mild.
The country’s major cement producers have applied to the International Trade Administration Commission seeking protection from imports threatening the industry.
Cement supplier PPC expects difficult trading conditions in SA to persist, requiring real cement price increases to recover operational cost increases.
Cement producer PPC has been recovering over the past eight months, and shows a new upside breakout, says a technical analyst.
One of PPC’s largest shareholders is pushing for chairperson Peter Nelson to be replaced after talks with potential suitors failed and the company seeks to grow independently.
PPC has renegotiated the bulk of its debt obligations in South Africa and the Democratic Republic of Congo as new operations in the region start to generate additional cash.
PPC has confirmed that the local management of its Slurry plant and members of the National Union of Mineworkers have reached an agreement on wage negotiations.
Dangote Cement has written to PPC offering cash and shares as part of a takeover deal that is fuelling a bidding war.
PPC has made an “extra effort” to create 70 more temporary local jobs at the SK9 expansion project at its North West Slurry cement plant, following a government investigation into the presence of at least 242 Chinese workers at the factory.
AfriSam is in negotiations with an equity partner to recapitalise the company and enable the cement maker to push through a merger with larger rival PPC.
A merger between cement producers AfriSam and PPC would result in hundreds of millions of rands in savings, says AfriSam’s acting CEO, Rob Wessels.
Currency reforms in Zimbabwe have forced cement maker, PPC, to delay announcing its results for the year ended March 31, 2019, which were due on Wednesday.
A robust contribution from Zimbabwe and the rest of its African operations has seen cement producer PPC report a 7% growth in revenue.
PPC is weighing expansion into new markets as it seeks to draw a line under a tumultuous two years that included an emergency rights issue and takeover interest from competitors.
Cement manufacturer PPC has implemented measures in the Western Cape to mitigate the impact of the ongoing drought.
PPC has reported a loss in its last fiscal year, doesn’t have a permanent chief executive officer and its home market has just come out of recession.
PPC says it has received letters representing "likely more than" 25% of shareholders indicating opposition to a proposed merger with rival AfriSam.
PPC shares have surged after Dangote Cement, owned by Africa's richest man, said it has approached the SA cement maker about a takeover deal.
Aliko Dangote is among those considering counteroffers for PPC that could signal a bidding contest for the cement maker, according to people familiar with the matter.
In a trading update, Pretoria Portland Cement says it has made its first payments totalling $32m towards funding commitments in the DRC.
Cement maker PPC says full-year profits have declined by 93%, which was caused by an “unexpected S&P debt downgrade”.
Somerset WestAfrica Experience Collection (PTY) LTDR40 000.00 - R70 000.00 Per Month
MosselbaaiCalandria Labour Consultants
Cape Town Northern SuburbsPeoplefinder Career Placements
R 2 960 000
R 2 995 000
R 2 350 000
We subscribe to the Press Code.
You choose what you want
News24 on Android
Get the latest from News24 on your Android device.
Terms and Conditions
24.com Terms and Conditions - Updated April 2012
Creating your profile will enable you to submit photos and stories to get published on News24.
This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.