Cement producer PPC says it is considering selling off non-core assets as it looks to improve its profitability. The company said in a presentation posted on its website that it is considering “divesting non-core assets” and is looking at options to repatriate funds stuck in Zimbabwe, which is suffering from a liquidity crisis. PPC plans to reduce its foreign exchange exposure in that market and aims to boost clinker imports from SA. Its cash balance in Zimbabwe has been reduced to $60m (R862m) due to a debt payment at the end of February. PPC also said SA’s new carbon tax will probably cost its cement and lime operations between R100m and R120m a year. Cement imports into SA surged in 2018, and the company was lobbying the government to impose tariffs, it said. However, PPC has still managed to hike prices by 8% to 12% in certain regions, but says the local industry “requires restructuring”. PPC said in February that it is lobbying government body International Trade Administration...

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