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.

 

www.ppc.co.za

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