http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 15.10Change: 0.02
R/$ = 13.45Change: 0.01
Au 1132.97 $/ozChange: -2.52
Pt 1013.00 $/ozChange: -3.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Dec 18, 2008

ArcelorMittal SA ends empowerment talks

Back
Africa|Africa|Steel|Operations
Africa|Africa|Steel|Operations
africa-company|africa|steel|operations
© Reuse this



Steel producer ArcelorMittal South Africa has terminated negotiations to sell a stake in a black economic-empowerment (BEE) transaction, the company said on Thursday.

Spokesperson Sven Lunsche said it had ended the talks due to the current economic climate, which made merger and acquisition transactions “difficult”.

However, he affirmed that ArcelorMittal South Africa remained committed to BEE.

“The strategy would resume once some resemblance of normality returned to financial markets,” he said in an interview.

In September, the steel producer announced that had started negotiations to do a BEE transaction. The deal involved discussions with the company at group level.

ArcelorMittal South Africa is the country’s biggest steel producer, and has operations in Vanderbijlpark, Newcastle, Saldanha, and Vereeniging.

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Carbon Steel News
Vertically integrated steel producer Evraz Highveld Steel and Vanadium is one step closer to announcing a preferred bidder to buy the business, which is currently under business rescue. The company’s creditors’ committee met on Tuesday to consider three final binding...
Three formal bids have been received by the practitioners presiding over the business rescue of steel producer Evraz Highveld Steel and Vanadium and a preferred bidder could be named by as early as Wednesday. Business rescue practitioner Piers Marsden told...
The first applications for protection on several steel products were approved on Friday, with Trade and Industry Minister Dr Rob Davies confirming that duties across eight tariff subheadings would be increased to the World Trade Organisation bound rate of 10%....
Article contains comments
More
 
 
Latest News
Implats CEO Terence Goodlace
Updated 54 minutes ago Platinum mining major Impala Platinum (Implats) said on Thursday that it intended raising up to R4-billion through the sale of new Implats ordinary shares using an accelerated bookbuild process. The company, headed by CEO Terence Goodlace, said that shareholder...
Deputy President Cyril Ramaphosa
Deputy President Cyril Ramaphosa said on Wednesday that his attempts to improve the efficiency of South Africa's state-owned entities (SOEs) are not an attempt to get more votes in the 2016 Local Government Elections. He was updating the National Council of Provinces...
Frost & Sullivan ICT programme manager Gareth Mellon
It is increasingly widely accepted that deploying information and communication technology (ICT) infrastructure will bring about a surge in economic growth across Africa. However, the sourcing of billions of dollars required to deliver universal coverage was up for...
More
 
 
Recent Research Reports
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Training company The Intelligence Transfer Centre will host the fourth yearly Environmental Crimes Conference at the Indaba Hotel, in Fourways, Johannesburg between September 9 and 10. Confirmed key regulatory bodies that will attend the event include the Department...
The government of Egypt has said it is ready to provide technical assistance to Malawi in the development of the Shire–Zambezi waterway, which is designed to link landlocked Malawi to the Indian Ocean by opening the two rivers for navigation. Egyptian ambassador to...
Kenya is finally set to start building a new multipurpose petroleum pipeline, after securing a $350-loan from a consortium of banks, including South Africa's Rand Merchant Bank. The other banks in the consortium are the Cooperative Bank of Kenya, Citibank's Kenya...
MARAIS VAN HEERDEN The owner/operator should be able to view the overall project design and progress made at any time
Three-dimensional (3D) engineering design models can now be viewed on tablets, which enable stakeholders to view the design without having to buy the design software used to create it, says engineering design firm 3DDraughting executive Marais van Heerden. The...
Ford’s newest offering in a long list of newcomers to the local market in the last two years is the B-Max multi-activity vehicle (MAV). The B-Max will play in the so called B-MAV segment, or the small MAV segment, currently dominated by Toyota’s Avanza, which sells...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96