Barloworld Limited - Barloworld supports R1.36bn cement expansion project by PPC
Barloworld Limited
(Registration number 1918/000095/06)
ISIN Code: ZAE000026639
JSE Code: BAW
(`Barloworld`)
Barloworld supports R1.36bn cement expansion project by PPC
Barloworld Limited refers shareholders to the announcement made today by its
71.6% held subsidiary Pretoria Portland Cement Company Ltd (PPC) regarding the
details of the R1.36bn Batsweledi cement capacity expansion project. The board
of PPC has approved the investment to increase the company`s cement capacity in
South Africa by just over one million tons per annum. The additional capacity
will supply both future demand growth in the South African cement market and the
eventual replacement of capacity from older production facilities which will be
retired when market conditions allow.
Commenting on the announcement, Tony Phillips, CEO of Barloworld said:
`Organic expansion of our existing businesses is one of the pillars of
Barloworld`s growth strategy. Accordingly this investment has the full support
of the Barloworld board.
It demonstrates our commitment to provide capacity to supply the materials,
products and services needed to expand the infrastructure of the region.
It is also an infrastructure investment in itself and will make its own
contribution to economic prosperity through the creation of approximately 100
direct permanent new jobs and employment directly and indirectly during the
construction period for several thousand more. `
A briefing on the Batsweledi Project will take place at Barloworld today
(Tuesday 30 August) commencing promptly at 11h30. Members of the investment
community wishing to attend should contact Karena Stewart on telephone (011) 772
1092 or email karenas@meropa.co.za.
For additional information on Barloworld contact Rowan Goeller, Head of Investor
Relations on +27 11 445 1300. For background information on Barloworld visit
www.barloworld.co.za
For additional information on PPC contact John Gomersall, CEO of PPC on +27 11
445 1015. For background information on PPC visit www.ppc.co.za.
30 August 2004
Johannesburg
Sponsor: J.P. Morgan Equities Limited
Date: 30/08/2005 07:08:02 AM
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