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 [email protected]
