Abrasive firm in 30% BEE deal

October 27, 2005

Manufacturer and distributor of abrasive products Rebuff has concluded a BEE deal that involves the empowerment of its employees.

This is believed to be the first such BEE arrangement in Gauteng in this industry.

According to the agreement, the employees have purchased 30% of the equity in Rebuff through the establishment of the Rebuff Staff Trust, in which previously disadvantaged members of the Trust will be the major beneficiaries...

Trustee Mervin Ponoane says that he is pleased to have acquired equity in the company and is convinced that this will help to even further increase the motivation within the organisation.

“Ownership means a great deal to all of us and I have no doubt that the new arrangement will go a long way to helping the company build on its considerable past successes,” said Ponoane.


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