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February 17, 2009
Cape Manufacturing Engineering approaches IDC for emergency funding
Two subsidiaries of one of the Western Cape's largest engineering firms, Cape Manufacturing Engineering (CME), would face liquidation, unless the group received some financial assistance, nonexecutive chairperson Ewald Wessels said on Tuesday.
The company said it had approached the Industrial Development Corporation (IDC), proposing that development finance organisation buy a 51% stake in its subsidiaries CME Foundry and CME Automotive.
Posted by StaffWriter at February 17, 2009 3:47 PM
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