December 15, 2009
Cement maker a year early reaching BEE target
SA's largest cement maker, Pretoria Portland Cement (PPC), has improved its empowerment status from a level 4 to a level 3 broad-based black economic empowerment contributor rating, beating its target by a year.
Posted by StaffWriter at 9:38 AM | Comments (0)
December 2, 2009
Crane Operator Gets Heavyweight BEE Rating
One of Cape Town's leading mobile crane operators, Target Cranes, has been awarded a substantial level 3 contributor to BEE rating, with a procurement recognition level of 110%, as confirmed by BEE verification agency, Sera.
Posted by StaffWriter at 9:49 AM | Comments (0)
November 16, 2009
Barloworld earnings down by 10%
Industrial group Barloworld posted a 10% drop in annual revenue as a result of decreasing demand for earth-moving equipment this year.
Posted by StaffWriter at 7:36 AM | Comments (0)
November 10, 2009
PPC reports it's revenues are up 9% to R6,8 bn
Pretoria Portland Cement company CEO Paul Stuiver, CEO says the company achieved "A good performance considering the challenging economic climate. Cash flow remained strong despite a decrease in demand and pressure from input costs. The company is well positioned and will benefit significantly from an economic recovery."
Posted by StaffWriter at 9:43 AM | Comments (0)
October 31, 2009
Probe R3bn fleet tender call
THE storm over the awarding of a R3.2 billion government fleet contract for the Eastern Cape took a new turn yesterday.
Posted by StaffWriter at 8:32 AM | Comments (0)
October 29, 2009
Chevron Pours Millions Into Local Economy
POSSIBLY the most notable feature of Cape Town's skyline, with the exclusion of course of its fabled Table Mountain, is the Chevron refinery in Milnerton which, with an estimated replacement value of more than R9 billion in current terms, makes it the biggest industrial undertaking in the Cape.
Posted by StaffWriter at 10:27 AM | Comments (0)
October 28, 2009
Pretoria Portland Cement sees earnings down
Cement producer Pretoria Portland Cement on Wednesday advised that its earnings per share and headline earnings per share for the year to end September 2009 are expected to be between 20 percent to 30 percent less, and 35 percent to 45 percent less respectively compared with the year to end September 2008.
Posted by StaffWriter at 10:36 AM | Comments (0)
October 12, 2009
Tiger non-execs thwarted
The Public Investment Corporation (PIC) voted against the Mapitso consortium's participation in Tiger Brands' (JSE:TBS) BEE scheme "because it could have compromised the independence of non-executive directors of Tiger".
Posted by StaffWriter at 10:02 AM | Comments (0)
October 6, 2009
Altron earnings decline
Electronics equipment group Allied Electronics Corporation (Altron) on Monday reported adjusted diluted headline earnings per share of 100 cents for the six months ended August 31, versus 179 cents previously, representing a 44% decline.
Posted by StaffWriter at 4:02 PM | Comments (0)
August 21, 2009
BMG upgraded to level 5 BEE contributor
Bearing Man Group (BMG) has enhanced its certification as a broad-based black economic- empowerment (BBBEE) level 6 contributor to achieve recognition as a level 5 contributor.
Posted by StaffWriter at 10:38 AM | Comments (0)
July 8, 2009
Anchor Industries Sees A Soaring Business
ANCHOR Industries, the Cape Town-based supplier of marine and offshore mooring equipment as well as lifting and rigging equipment for general industry, has experienced soaring business during the past financial year ending in February.
Posted by StaffWriter at 9:36 AM | Comments (0)
June 1, 2009
NUMSA lays down its demands
Numsa Press Conference Statement, Numsa Head Office, Johannesburg, June 1 2009
A. Introduction
1. The National Union of Metalworkers of South Africa (Numsa) has called this Press Conference in order to raise a number of issues, which we believe are of national importance. We at Numsa wish to note that there is now no dispute that South Africa is in a recession. We have a serious economic crisis on our hands, which now threatens to dangerously compound our inherited Apartheid crisis of mass unemployment, massive inequalities and deepening poverty among millions of South Africans.
Posted by StaffWriter at 10:02 AM | Comments (0)
May 26, 2009
PPC CEO retires
PPC CEO John Gomersall has stepped down, he will be replaced by Paul Stuiver. Stuiver will be CEO designate from June 1 and take over as CEO from July 1 2009.
Posted by StaffWriter at 9:43 AM | Comments (0)
Novartis to help BEE firms when drug output rises
NOVARTIS would look at developing small local enterprises in the pharmaceutical industry as part of its black economic empowerment (BEE) contribution, but only when drug manufacturing output improved in the country, Glen Sullivan, the chief executive at Novartis South Africa, said yesterday.
Posted by StaffWriter at 8:48 AM | Comments (0)
May 12, 2009
GMSA records a six on BBBEE scorecard
GENERAL Motors South Africa vice-president and legal counsel, Joel Baepi, said yesterday there was still much work to be done in the preferential procurement arena.
Posted by StaffWriter at 12:06 PM | Comments (0)
PPC CEO forecasts soft cement demand
Industry regional cement demand would not decline by more than about 10% in the period to end September, despite the after effects of the global economic crisis continuing to spill over onto South Africa's economy, cement producer Pretoria Portland Cement (PPC) CEO John Gomersall reported on Tuesday.
Posted by StaffWriter at 9:47 AM | Comments (0)
PPC Says First-Half Profit Falls 85% After Share Sale
May 12 (Bloomberg) -- Pretoria Portland Cement Co., Africa's biggest manufacturer of the building material, said first-half profit fell 85 percent after the company expensed costs associated with a share sale to black investors.
Posted by StaffWriter at 9:45 AM | Comments (0)
April 23, 2009
Difficult year for CMH
The past year was undoubtedly the most difficult Combined Motor Holdings has experienced, the listed motor retail and car hire company said on Thursday.
Posted by StaffWriter at 7:32 AM | Comments (0)
April 17, 2009
Afrimat warns of sharp profit fall in 2009
JSE-listed building materials supplier Afrimat expects its earnings a share (EPS) and headline EPS for its 2009 financial year to be between 35% and 45% lower than the year before.
Posted by StaffWriter at 3:15 PM | Comments (0)
April 9, 2009
Highveld unveils R540m empowerment deal for Mapochs mine
South Africa's second largest steel producer Highveld Steel & Vanadium unveiled a R540-million ($59,8-million) black economic-empowerment (BEE) transaction on Thursday that will result in Umnotho weSizwe taking a 26% interest in the Mapochs mine, in Mpumalanga.
Posted by StaffWriter at 7:07 AM | Comments (0)
March 4, 2009
Afrisam shaves R1bn off debt through 'opportunistic' transaction
While many black economic-empowerment (BEE) deals are currently under water, black-owned cement producer Afrisam appears to have made hay out of the prevailing financial crisis through a favourable refinancing deal that has shaved R1-billion off its debt profile and reduced its exposure to foreign currency risk.
Posted by StaffWriter at 2:37 PM | Comments (0)
February 27, 2009
Verder attains local rating
Part of the Verder Group, represented by 28 branches in 15 countries, Verder Pumps SA (VPSA) is pleased to announce that it has completed an independent BEE rating process by BEE Process and Management Company BEE SEESA.
Posted by StaffWriter at 9:55 AM | Comments (0)
February 20, 2009
Steel structure maintenance to provide corrosion-paint underpin
Black economic-empowerment (BEE) company Virgo Business Consulting says that the corrosion painting market will continue to be viable into the future as a result of the ongoing requirements for steel structure maintenance for mines and para- statals.
Posted by StaffWriter at 7:05 AM | Comments (0)
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.
Posted by StaffWriter at 3:47 PM | Comments (0)
February 5, 2009
Futures trouble means new Beige BEE investor
Thebe steps in to buy shares after its subsidiary lands itself in futures trouble.
Posted by StaffWriter at 9:56 AM | Comments (0)
January 26, 2009
Regional cement volumes down 8.2%
Regional industry cement volumes for the first quarter of the financial year were down 8.2% while the decline for the whole 2008 calendar year was only 3.9%, Pretoria Portland Cement (PPC) chairman BL Sibiya told the group's AGM.
Posted by StaffWriter at 2:08 PM | Comments (0)
January 13, 2009
Jewellery sector told to comply
The jewellery sector is under pressure to comply with the BEE Codes of Good Practice in order for companies to receive operating licences by May this year.
Posted by StaffWriter at 11:08 AM | Comments (0)
November 19, 2008
Freeworld goes slow on planned BEE transaction
Pretoria - Freeworld Coatings, the listed paint and coatings manufacturer unbundled from Barloworld almost a year ago, has adopted a cautious approach to its planned black economic empowerment (BEE) deal because of the global financial crisis.
Posted by StaffWriter at 7:53 AM | Comments (0)
November 18, 2008
Taiwan's best export will be tale of Wang
Can the enrichment of one individual result in the empowerment of the masses? How far can a person push himself if he was born into a poor tea farming family, which was unable to afford his primary education and had to scrape together the tiniest stitch of capital to help him start his first business, to mill and sell rice in his village at the age of 15?
Posted by StaffWriter at 8:20 AM | Comments (0)
November 12, 2008
BEE partners could be in luck
The general decline in share prices because of the global financial crisis is likely to benefit the new black economic empowerment (BEE) partners of cement and lime producer Pretoria Portland Cement (PPC).
Posted by StaffWriter at 11:38 AM | Comments (0)
November 11, 2008
PPC's Heps up eight percent
JOHANNESBURG - Pretoria Portland Cement boasted headline earnings per share of 283 cents -- an increase of eight percent -- for the year ended September 30, 2008, the continent's largest cement producer said on Tuesday.
Posted by StaffWriter at 11:07 AM | Comments (0)
PPC year-end results: John Gomersall - CEO, PPC
GEOFF CANDY: We were chatting infrastructure spend, and more particularly the results at PPC and Stefanutti Stocks, We start with John Gomersall, the CEO at PPC. John, interesting to see regional cement sales down after seven years of strong growth. Are you concerned at all about this, or are you bit relieved, given that you've been at such high capacity over the past couple of months?
Posted by StaffWriter at 7:13 AM | Comments (0)
November 7, 2008
Women-led black-owned manganese start-up delivers R223m to shareholders
The women-led black-owned manganese start-up has managed to deliver R223-million to its shareholders, many of them near-mine communities and including disabled people, ahead of production.
Posted by StaffWriter at 9:23 AM | Comments (0)
November 4, 2008
IDC may delay Foskor listing if markets remain unsettled
The State-owned Industrial Development Corporation (IDC) is proceeding apace with a broad-based black economic-empowerment (BBBEE) initiative for phosphate and phosphoric acid producer, Foskor.
Posted by StaffWriter at 7:22 AM | Comments (0)
October 30, 2008
Show pulls investment of R120m to Gauteng
Gauteng and the City of Johannesburg will receive an economic boost from the estimated R120 million that motor manufacturers, vehicle importers and component suppliers have invested in the 2008 Johannesburg International Motor Show at the Nasrec Expo Centre, which opens to the public on Saturday and runs until November 9.
Posted by StaffWriter at 7:25 AM | Comments (0)
October 24, 2008
Acquisitions pave way to project opportunities
Brick, tile, and paving company Brikor is leveraging its position in the building industry through acquisitions, in order to participate in a host of local infrastructure projects under way or in the pipeline.
Posted by StaffWriter at 7:44 AM | Comments (0)
October 23, 2008
Denel firm costs taxpayer R660m
The government has had to pay R660m to enable a loss-making Denel subsidiary to honour its international contract obligations, including those related to the supply of equipment for purchases made under the R47,5bn arms deal.
Posted by StaffWriter at 7:17 AM | Comments (0)
October 21, 2008
Anchor Extends its Product Services
SUPPLIER of lifting and rigging as well as marine and offshore mooring equipment, Anchor Industries, has added to its product range the Titan Tuff chain blocks and lever hoists; and the revolutionary Gunnebo GrabiQ Gr10 flexible chain sling system.
Posted by StaffWriter at 12:33 PM | Comments (0)
September 23, 2008
Steel group denies buyout report
THE world's biggest steel group, ArcelorMittal, denied reports that it plans to buy the 48% of its South African operations it does not own, but it may be looking to buy up to 25% to meet its black economic empowerment obligations.
Posted by StaffWriter at 7:23 AM | Comments (0)
September 19, 2008
ArcelorMittal S.Africa unit shares soar on bid talk
Shares in ArcelorMittal SA Ltd, the South African unit of the world's number one steel maker, rose 24 percent on Friday after the Financial Times's Alphaville website said that its parent would take control of it in a $5bn deal.
Posted by StaffWriter at 7:35 AM | Comments (0)
September 12, 2008
Communities central to cement maker PPC's broad-based model
Cement producer PPC announced a R2,7-billion broad-based black economic-empowerment (BBBEE) transaction last month that will result in a 15% black shareholding in the ordinary share capital of PPC.
Posted by StaffWriter at 6:58 AM | Comments (0)
August 29, 2008
Portland C ement to sell R2.7bn stake for BEE
PRETORIA Portland Cement yesterday announced it would sell a 15 percent stake worth R2.7 billion to black groupings, strategic partners and its staff in a bid to become BEE compliant.Posted by StaffWriter at 7:16 AM | Comments (0)
August 28, 2008
PPC appoints four executives to head SA, Zim operations
SOUTH African-headquartered cement manufacturer Pretoria Portland Cement has announced the appointment of four black executives to head its South African and Zimbabwean operations.Posted by StaffWriter at 9:24 AM | Comments (0)
PPC sells 15% to black investors for R2,7bn
CEMENT manufacturer PPC today announced the sale of 15% of its equity to black investors for R2,7bn.Posted by StaffWriter at 9:23 AM | Comments (0)
August 22, 2008
BEE a top priority for Altron's subsidiaries
ELECTRICAL engineering, electronics and technology group Altron wanted its subsidiaries to achieve an average level 3 to level 1 contribution to black economic empowerment by 2012, it said yesterday.Posted by StaffWriter at 7:20 AM | Comments (0)
Altron sets new BEE targets for managers
Listed electronics group Altron aims to have 40 percent black representation at senior management level by 2012.Posted by StaffWriter at 7:17 AM | Comments (0)
August 10, 2008
The Offsets: No Great Shakes
In 2004, MAN Ferrostaal invested about € 9-million in South African Micro-Electronic Systems (Sames), a subsidiary of venture capital company Labat Africa, which makes semi-conductors .Posted by StaffWriter at 7:11 AM | Comments (0)
July 22, 2008
Unbundling brings results for Hulamin
Aluminium processor Hulamin, which was unbundled from sugar producer Tongaat-Hulett last year, on Tuesday said it expects its full year results to show at least a 20 percent improvement on those reported for 2007.Posted by StaffWriter at 9:19 AM | Comments (0)
July 15, 2008
AfriSam Group - A R6bn pension
A R6-billion investment in the AfriSam Group has been made by the Government Employees Pension Fund (GEPF), the Public Investment Corporation (PIC) said on Monday.Posted by StaffWriter at 8:10 AM | Comments (0)
July 14, 2008
Steinhoff team leads JSE buying binge
Markus Jooste and his co-directors of Steinhoff (JSE:SHF) led yet another buying charge by the directors of JSE-listed companies in the past month.Posted by StaffWriter at 8:07 AM | Comments (0)
June 25, 2008
Tellumat gears up for 2010
As South Africa's infrastructure and capacity build-out for 2010 accelerates, tech innovator Tellumat is adding steadily to its already impeccable tech supply credentials.Posted by StaffWriter at 9:49 AM | Comments (0)
April 25, 2008
Local steel company concludes R270-million BEE deal
Local steel company VR Laser Services has concluded a R270-million black economic empowerment (BEE) deal with Shosholoza Steel Supplies CEO Benny Jiyane, who will now have a 30% shareholding in the company.Posted by StaffWriter at 8:34 AM | Comments (0)
March 31, 2008
Tycoon's BEE sugar mill deal turns sour
Soccer boss and business tycoon Patrick Sokhela's famed BEE sugar deal hangs in the balance.Posted by StaffWriter at 8:03 AM | Comments (0)
March 7, 2008
Clover Mama Afrika welcomes new partner
It is one thing to do the right thing because you have to, but it is quite another when you do the right thing because you want to. Engineering company Zimmermann & Jansen SA (Pty) Ltd has been searching for a worthy Corporate Social Investment (CSI) project to support and found Clover Mama Afrika.Posted by StaffWriter at 7:46 AM | Comments (0)
March 6, 2008
Schmolz + Bickenbach tightens focus
LOCAL tool engineering and stainless-steel supplier Schmolz & Bickenbach South Africa is part of the global leader in the production of special-steel long-products with its holding-company Schmolz & Bickenbach AG in Duesseldorf, Germany.Posted by StaffWriter at 10:17 AM | Comments (0)
February 25, 2008
Tongaat declares R1.60 dividend
Tongaat-Hulett (TON) reported diluted headline earnings per share of 56.8 cents for the year ended December 2007 from a restated 649.4 cents a year ago.Posted by StaffWriter at 1:07 PM | Comments (0)
February 15, 2008
Hudaco says investment underpin will shore up growth, but forecasts slower pace
Industrial product importer and distributor Hudaco Group believes that investments in both public and private infrastructure are now replacing consumption as the growth engine in South Africa and this will be the case for many years in the future.Posted by StaffWriter at 7:23 AM | Comments (0)
February 13, 2008
Nampak establishes the first BEE sheet plant in South Africa
The establishment of the first BEE sheet plant in South Africa has been made possible by Nampak, Africa's largest packaging company.Posted by StaffWriter at 7:00 AM | Comments (0)
February 12, 2008
Hulamin folds as aluminium prices stabilise
Hulamin on Tuesday reported an 82 percent fall in diluted headline earnings per share (HEPS) for the year to end December 2007.Posted by StaffWriter at 10:52 AM | Comments (0)
Boards bow to pressure from PIC
In the past two weeks, three large JSE-listed companies - Pretoria Portland Cement (PPC), JD Group and Nampak - have stated that they were about to make significant changes to their boards in order to bring them into line with best corporate governance practices.Posted by StaffWriter at 7:45 AM | Comments (0)
February 11, 2008
Hulett expects higher profits
South African sugar producer Tongaat Hulett said on Monday that its profit from continuing operations for the year ended December 2007 is expected to be R838-million, compared with 2006's R726-million - a fifth consecutive year of growth.Posted by StaffWriter at 7:37 AM | Comments (0)
February 1, 2008
Hudaco reports earnings jump, sees slower growth in '08
Branded industrial product importer and distributor Hudaco, which released its full year results on Friday, cautioned that growth was expected to slow in 2008, owing to infrastructure constraints.Posted by StaffWriter at 7:36 AM | Comments (0)
Hudaco FY headline EPS rise 41%
Industrial product distributor Hudaco on Friday reported a 41% jump in full-year normalised headline earnings a share, excluding the cost of a black economic-empowerment (BEE) transaction.Posted by StaffWriter at 7:33 AM | Comments (0)
Power cuts dent Hudaco outlook
Gross profit was maintained at the previous year's 38%, and with sales rising faster than expenses, pushing operating profit up to a record 14.3% of sales, Hudaco parlayed a 21% sales increase into a 41% increase in what it calls "normalised" HEPS, to 750c.
Posted by StaffWriter at 7:29 AM | Comments (0)
January 28, 2008
PPC expects cement demand growth to slow, says power problems a 'concern'
Africa's biggest cement producer, PPC, said on Monday that growth in regional cement demand would cool this year, following double-digit rates for a number of years.Posted by StaffWriter at 3:09 PM | Comments (0)
Cornastone invests in ACI
Cornastone has acquired 25.01% of ACI South Africa, the local operation of the world's leading electronic payments systems company, ACI Worldwide, in a BEE transaction for an unspecified sum of cash. This will be settled over a period of time through a structured payment schedule.Posted by StaffWriter at 1:48 PM | Comments (0)
PPC comes under fire
Construction and materials company Pretoria Portland Cement (PPC) has come under fire for the multitude of roles its chairperson Martin Shaw and chief executive officer John Gomersall are occupying in the company.
Posted by StaffWriter at 8:10 AM | Comments (0)
December 13, 2007
New trade mission to M'bique
THE Eastern Cape Development Corporation (ECDC) is organising a second trade mission to Mozambique in March, following the success recorded with an earlier visit this year.Posted by StaffWriter at 7:23 AM | Comments (0)
December 6, 2007
Tellumat buys stake in Denel unit
Tellumat Electronic Manufacturing has bought half of the printed circuit board manufacturing plant from Carl Zeiss Optronics, which is closely linked to SA's armament manufacturing group Denel.Posted by StaffWriter at 1:29 PM | Comments (0)
November 29, 2007
Omnia shows solid growth
Chemicals company Omnia reports revenue up more than 26 percent as the 'real' economy booms.Posted by StaffWriter at 7:34 AM | Comments (0)
November 16, 2007
Act discourages foreign investment - mining law specialist
Legal company Webber Wentzel Bouwer partner Peter Leon told the South African Institute for Race Relations (SAIRR) that restrictive legislation could scare off prospective investors in the country's mining industry.Posted by StaffWriter at 11:38 AM | Comments (0)
November 1, 2007
How to get the best EMS deal
According to an Industry Week article, the contract manufacturing industry is selling itself short by not leveraging the benefits strategic sourcing has to offer, such as obtaining top-quality resources, turning fixed costs into variable costs and increasing controls over unit pricing.
Posted by StaffWriter at 3:15 PM | Comments (0)
October 31, 2007
PSV buys geosynthetic liner firm for R40m
AltX-listed industrial engineering company PSV Holdings on Wednesday announced its acquisition of geosynthetic liner installation company, Engineered Linings, for R40-million.Posted by StaffWriter at 8:55 AM | Comments (0)
How to Get The Best Deal in Contract Manufacturing
The contract manufacturing industry is selling itself short by not leveraging the benefits strategic sourcing has to offer, such as obtaining top-quality resources, turning fixed costs into variable costs and increasing controls over unit pricing. Currently, the contract manufacturing industry remains largely focused on cost-plus or rate-of-return models -- resulting in negligible strategic benefit.Posted by StaffWriter at 8:45 AM | Comments (0)
October 26, 2007
Charter compliance simultaneously providing Sasol with growth opportunity
Sasol executive director Dr Benny Mokaba is 'very excited' about charter compliance simultaneously providing growth opportunities for Sasol Mining.Posted by StaffWriter at 11:53 AM | Comments (0)
April 12, 2005
New force in W Cape
A FACTORY being moved in stages from Salisbury, England, to Cape Town to produce metal couplings...
Posted by Bernie at 12:42 PM | Comments (0)
March 22, 2005
Numsa wants BEE in vehicle industry
THE National Union of Metalworkers of SA (Numsa) has called for an ...
Posted by Bernie at 8:02 AM | Comments (0)
February 15, 2005
BEE lagging in manufacturing
THE trade and industry department has started to formulate black ...
Posted by Bernie at 12:47 PM | Comments (0)
