PPC FREEZES PPC IMAGINARIUM SPONSORSHIP

A statement from the company reads:

PPC has successfully supported the arts in the form of the PPC Imaginarium Awards, for many years.

It is with great sadness that we announce the suspension of our involvement with this initiative effective from 1 June 2019.

This has been one of the hardest decisions that the company has had to make as a precautionary move against the volatile trading conditions that the industry as a whole is exposed to.

Our industry is undergoing a very challenging period characterised by rising input costs and declining activity and productivity in the construction industry.

The state of affairs is further exacerbated by the looming introduction of the new carbon tax which will probably cost our cement and lime operations between R100m and R120m a year in an already depressed economy.

These developments necessitate that the company reviews its sponsorship and capex commitments across the board and further prompts the business to put more focus on core business activities.

A lot was achieved in the period that PPC was involved with this flagship initiative which has helped bring recognition to very talented artists, and inspired many to showcase their creative works and art pieces that are today receiving the attention they deserve.

We would like to thank you for your participation and for the role you have played to make this asset to be what it is today and trust that you understand the spirit in which this initiative is frozen.

Should you have any queries on this announcement, please free to direct them to strengthbeyond@ppc.co.za