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November 20, 2007

Barloworld plays quick BEE catch-up

Barloworld, whose lack of transformation was severely criticised by the Public Investment Corporation (PIC) earlier this year, expects to have an effective 25 percent black economic empowerment (BEE) shareholding of its South African operations by the first quarter of next year.

Clive Thomson, Barloworld's chief executive, said yesterday all three of the group's local businesses were now being run by black chief executives.

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Posted by StaffWriter at November 20, 2007 1:33 PM