https://www.engineeringnews.co.za
Africa|Business|Cement|Construction|PROJECT|Infrastructure
Africa|Business|Cement|Construction|PROJECT|Infrastructure
africa|business|cement|construction|project|infrastructure

PPC to reappoint Anthony Ball as nonexec director

2nd July 2021

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Construction materials company PPC has reappointed Anthony Ball as nonexecutive director with effect from July 1, to supervise, manage and assist the company to achieve certain key milestones regarding the restructuring and refinancing of the group.

PPC is now in the implementation phase of its restructuring project, which will see Ball step down as executive director and resume his duties as nonexecutive director of the company.

The cement maker in February said it was struggling under the weight of a then R5.2-billion debt load.

It has since made steady progress with its ongoing restructuring and refinancing project.

PPC’s gross debt had decreased to R2.6-billion at the end of March, down from the R5.8-billion at the end of March 2020. The reduction included an amount of R2.5-billion relating to business in the Democratic Republic of Congo (DRC), where it reached a deal with PPC Barnet’s lenders, terminating their right to recourse to PPC.

Like its rivals, PPC has been battling to grow sales at a faster pace for much of the past decade as public and private sector clients cut back on infrastructure spending owing to South Africa’s weak economy.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 04 October 2024
Magazine round up | 04 October 2024
4th October 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.148 0.192s - 184pq - 2rq
Subscribe Now