PPC plans to acquire a controlling stake in Safika Cement Holdings for R350 million. Safika Cement operates five blending facilities and one milling plant in South Africa. It produces more than 20 million bags of blended cement a year.
“We are very excited to be able to add another complimentary business to PPC. This is an important step in our ‘Keeping the Home Fires Burning’ strategy,” said PPC CEO Ketso Gordhan.
The purchase is subject to due diligence and approval from regulatory authorities.
Adapted from press release by Louise Fordham.
Read the article online at: https://www.worldcement.com/africa-middle-east/07082013/south_africa_ppc_to_acquire_safika_cement_stake_95/