PPC to remain independent
Published by Jonathan Rowland,
Editor
World Cement,
South Africa’s largest cement producer, PPC, will remain independent, after rebuffing is final suitor, LafargeHolcim. According to a release to the Johannesburg Stock Exchange, the PPC board has advised the Swiss multinational that “it does not wish to pursue a transaction.”
LafargeHolcim also confirmed in a press statement that is was not longer in talks with PPC.
“The independent board is of the view that PPC shareholders’ value is best served by optimising its current business strategy,” the South African company said.
PPC’s business strategy includes the construction of a “mega plant” in the Western Cape of South Africa, a semi-brownfield project the company announced at the end of November. The new plant would be located at the company’s current Riebeeck site.
PPC would also focus on developing its existing investment pipeline in the rest of Africa, as well as optimising operations to “further improve competitiveness in a subdued market.”
LafargeHolcim was the fourth company to withdraw its interest in taking over PPC, following Dangote Cement, CRH, and Fairfax Africa Investments – a Canadian investment company that had hoped to force a merger between PPC and its closest rival, AfriSam.
Read the article online at: https://www.worldcement.com/africa-middle-east/14122017/ppc-to-remain-independent/
You might also like
Ready to revolutionise the cement industry?
Join World Cement in Lisbon, 10 – 13 March 2024, for our first in-person conference and exhibition: EnviroTech.
This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.
TITAN and Orcan Energy join forces for clean energy innovation towards net zero in cement
Together, the partners will explore the development and deployment of an innovative modular clean energy solution that will convert waste heat into clean and affordable electricity.
