Cement prices are too low, warns PPC chief
CEO Roland van Wijnen hints at further price increases despite falling sales in SA and Zimbabwe
The new CEO of the country’s largest cement producer PPC says cement prices across the industry are too low and has hinted at further price increases by the firm despite falling sales in SA and Zimbabwe.
Speaking after the release of results for the six months to September, which showed a more than 70% slump in PPC’s headline earnings, CEO Roland van Wijnen said: “The current business of the cement industry — not just PPC — is not at sustainable levels, from a financial perspective. Simply, the profitability is too low given the assets that have been invested. How do you fix that? Increase the price”.