Zim Now Writer
PPC, South Africa’s largest cement maker, is reportedly negotiating with potential buyers to sell its Zimbabwe business for about US$200-million in order to focus on its SA operations.
Pricing negotiations are ongoing amid speculation there is no guarantee that a deal will go ahead, though the rumour mill has it that the development may have attracted interest from a local company involved in road construction and home building.
PPC also reportedly received unsolicited approaches for various parts of its businesses, including PPC Zimbabwe.
PPC’s board has a duty to assess any such approaches on their respective merits.
According to PPC, demand for the construction material is expected to expand to 1.6 million tons this year, an increase of about 60% from 2017.
PPC manages to conduct about 80% of its sales in US dollars, driven by demand for its products in mining, residential construction and government-funded infrastructure projects.
PPC Zimbabwe currently runs a 0.76Mta grinding plant in Bulawayo, a 0.825Mta clinker plant in Colleen Bawn, and a 0.7Mta grinding works in Harare.
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