PPC LIMITED - PPC Ltd acquires 51% of the Cimerwa cement company in Rwanda

PPC Ltd acquires 51% of the Cimerwa cement company in Rwanda

PPC Ltd
(Incorporated in the Republic of South Africa)
(Company registration number: 1892/000667/06)
JSE Code: PPC
ISIN: ZAE 000170049
("PPC" or the “Company")

PPC Ltd acquires 51% of the Cimerwa cement company in Rwanda

PPC is pleased to announce that it has acquired 51% equity in
Cimerwa   Limited  of   Rwanda   (“Cimerwa”) for a total  cash
consideration of US$69.4 million.

Cimerwa, situated in south-western Rwanda, has been the only cement
producer in the country for the past 28 years. It has a current
capacity of 100 000 ton cement per annum and is constructing a
600 000 ton per annum expansion that will be commissioned during
2014.

In addition to shareholder equity contributions, Cimerwa is in the
process of finalising US$104m debt financing to complete the
expansion project.

Paul Stuiver, PPC’s CEO commented; “This transaction is a further
step in our commitment to invest in sub-Saharan Africa and we are
very confident about Rwanda. The Cimerwa plant is located in a
challenging but very strategic region in east Africa, which
currently lacks significant cement production capacity.”


Current demand for cement in Rwanda is estimated at 350 000 ton per
annum. Based on Rwandan and the surrounding region’s positive
economic outlook, regional cement demand is projected to increase
to 1 million ton during the next decade.

Stuiver added; “Combined with our recent investment in Ethiopia,
the Cimerwa transaction will increase PPC revenue outside of South
Africa to more than 30% by 2015/2016.”

The chairman of Cimerwa, Afrique Ramba said; “We are excited with
the PPC relationship and the potential of Cimerwa to play an even
bigger role in the future development of Rwanda.”


12 December 2012

Sponsor:
Merrill Lynch South Africa (Pty) Limited

PPC:
Kevin Odendaal Tel: +27 (0)11 386 9024 KOdendaal@ppc.co.za

Financial Communications Advisor:
College Hill   Jacques de Bie       Mobile:   +27 (82) 691 5384
Jacques.deBie@collegehill.co.za

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