| Tue 4 Oct 2011, 8:00 | | PPC - Pretoria Portland Cement Company Limited - PPC acquires Quarries of |
|
PPC
PPC
PPC - Pretoria Portland Cement Company Limited - PPC acquires Quarries of
Botswana for US$6.8 million
Pretoria Portland Cement Company Limited
(Incorporated in the Republic of South Africa)
(Company registration number: 1892/000667/06)
JSE Code: PPC
ISIN: ZAE000125886
("PPC")
PRESS RELEASE
PPC acquires Quarries of Botswana for US$6.8 million
As part of its southern Africa expansion strategy, Pretoria Portland Cement
(PPC) has acquired three aggregate quarries from Quarries of Botswana.
The 50 million Pula (US$6.8 million) acquisition is part of the cement giant`s
expanding footprint and will make PPC`s Aggregates division the largest
aggregate producer in Botswana.
New quarries in Gaborone, Francistown and Selebi-Phikwe, will expand PPC`s
existing portfolio in Botswana to meet the local market demand for aggregates,
which is a complimentary product to cement.
"Various alternatives were considered to increase PPC`s aggregates presence in
Botswana. Both Gaborone and Francistown are forecast to be major growth nodes in
Botswana and this was an obvious choice to develop our aggregates business
further. Acquiring the assets of an existing business made more sense than
embarking on a green fields expansion" says PPC`s executive for the Aggregates
division, Riaan Redelinghuys.
The investment will see PPC`s Aggregates division increase its total capacity
from 3 million to about 4 million tons per annum and gain approximately 100
employees.
PPC CEO, Paul Stuiver said "We recently communicated to our investors that we
are pursuing expansion opportunities in other parts of Africa, however this
acquisition shows we are still considering any good opportunities to expand our
local business."
PPC will release its annual results for the twelve months ending 30 September
2011 on 8 November 2011. The company is currently in a closed period.
Editors notes:
PPC Aggregates division supplies construction aggregates to the civil
construction sector and mineral products to the chemical, metallurgical and
agricultural industries. Prior to this acquisition the division already owned
two large quarries in Gauteng, South Africa and one in Gaborone, Botswana.
The Kgale quarry in Gaborone supplies an extensive range of granite products to
the civil construction industry including large construction firms, Readymix
concrete producers, concrete product manufacturers and road construction
projects.
PPC is a proud sponsor of BuildMind, the social networking site for the
construction industry. For more information, go to www.buildmind.net or visit
www.ppc.co.za or www.ppc.co.za/mobi.
ENDS
Issued by: Ogilvy Public Relations
Alex Anderson
Account Director
073-476-0841
alex.anderson@ogilvypr.co.za
On behalf of: PPC
Contact: Nomzamo Khanyile
Public Relations Officer
082-870-4235
nomzamo.khanyile@ppc.co.za
04 October 2011
Sponsor:
Merrill Lynch SA (Pty) Limited
Date: 04/10/2011 08:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
