http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.89Change: -0.01
R/$ = 12.56Change: 0.01
Au 1097.15 $/ozChange: 1.80
Pt 988.50 $/ozChange: 5.50
 
 
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  
 
 
Jan 24, 2008

Barloworld upbeat on acquisitive growth prospects

Back
 
 
 
 
 
 
Construction|Africa|Fire|Mining|Africa|Automotive|Equipment|Logistics
Construction|Africa|Fire|Mining|Africa|Automotive|Equipment|Logistics
construction|africa-company|fire|mining|africa|automotive|equipment|logistics
© Reuse this Newly restructured Barloworld was investigating "a couple" of potential acquisitions, and could be pouncing on one of them by the end of September, CEO Clive Thomson said on Thursday.

The firm had up to R1-billion that it could use for acquisitive growth, he said.

"There are a couple of things that we are investigating literally as we speak," stated Thomson.

"If we go through satisfactory due diligences then we could very well see something happen this financial year," added he, speaking in an interview, after the group's annual general meeting in Sandton.

Thomson highlighted one sector that Barloworld was looking to target was logistics, which he said was growing rapidly, in Southern Africa, as well as other areas globally.

Primarily, these regions included the Asia Pacific, the Middle East, and Europe.

Transformation on track

Meanwhile, the company's implementation of its much-awaited black economic-empowerment deal was on schedule to be wrapped up in the first half of 2008, chairperson Dumisa Ntsebeza told shareholders.

"The transaction will be broad based involving a number of parties, including employees, community and social investment partners, strategic, black equity partners, and black nonexecutive directors," he added.

The firm came under fire from outspoken black businessmen last year, after it appointed Trevor Munday as deputy chairperson, calling the appointment "racist, condescending and patronising".

Munday has since resigned from the Barloworld board.

Equipment growth strong

Barloworld, which is the second-biggest distributor out of Caterpillar's 196 dealers globally, said that its equipment division in southern Africa continued to benefit from buoyant mining and construction activity.

"The equipment division in Southern African territories continues to experience strong growth in the mining and construction sectors," Ntsebeza stated.

"As global demand has resulted in extended lead times, we are working proactively with Caterpillar to meet customer expectations and delivery dates."

"The order book remains strong and we expect good performance to continue for this financial year," he added.

Local interest rates bite

Its South African automotive division, however, had taken strain from the introduction of the National Credit Act (NCA) last year, as well as rising debt levels.

"Passenger vehicle sales in Southern Africa remain under pressure, in response to the cumulative impact of high consumer debt, interest rate increases and the NCA," Ntsebeza said.

"We expect these tough conditions to continue in the months ahead."

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Roads News
The Competition Commission said on Tuesday that it had prohibited Raumix Aggregates, a subsidiary of the Raubex Group, from acquiring OMV Kimberley and OMV Kimberley Mining, collectively known as the OMV Group. Post-merger, Raumix, and ultimately Raubex, would have...
The Johannesburg Roads Agency (JRA) has announced delays to several of its roadworks programmes across Johannesburg owing to a shortage of bitumen countrywide. The agency said on Friday that the resurfacing of roads and the patching of potholes in the city would be...
Investment of R836.6-million is needed to connect the “missing” 19 km stretch of road between the Sani Pass Hotel at the South African border and the Lesotho border to open up a vital Durban–Pietermaritzburg–Lesotho trade corridor. KwaZulu-Natal Department of...
More
 
 
Latest News
Updated 44 minutes ago This eight-page brief covers key developments in South Africa’s water sector over the past 12 months. It provides details of the state of South Africa’s water sector, planning and regulation, infrastructure, nonrevenue water and water-quality issues, as well as...
Transnet National Ports Authority CIO Mmutle Lentle
State-owned enterprise Transnet National Ports Authority’s (TNPA’s) new Web-based integrated port management system (IPMS) went live on July 26 at the Port of Durban, with crude oil tanker Colorado being the first vessel to be brought into the port using the new...
South Africa’s automotive industry is not in crisis – but there is a very real danger that inertia could see it regress into lightweight assembly rather than claim its place as a globally competitive vehicle manufacturer. Speaking at the National Localisation Indaba,...
More
 
 
Recent Research Reports
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.
Real Economy Insight: Electricity 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: Road and Rail 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
Meyerton-based steel tank manufacturer Structa Technology is currently rolling out a water infrastructure build programme that supports local municipalities, water utilities, schools, hospitals and clinics. As a member of the Structa Group, Structa Technology proudly...
Alternative funding models could be expected to begin coming to the fore in South Africa’s renewable-energy sector as the market becomes more competitive and domestic development finance institutions (DFIs) begin scaling back their direct involvement in projects....
DIMITRI MARKOULIDES An innovation champion must involve employees in innovation projects and keep them updated to enable them to support and drive innovation and create the future of the business
An innovation champion course that trains executives to manage innovation in their organisations aims to help companies grow revenue streams and tap new markets, says business change management consultancy BMGI South Africa innovation practice lead Dimitri...
Future digital workplaces will require employees to continuously learn new “literacies”, including new media, information and technical skills, to help their company thrive and spur personal growth. Information technology (IT) research firm Gartner, thus, suggests...
Only 25% of large construction projects surveyed in KPMG’s Global Construction Project Owner’s Survey, released in June, were concluded on time and within budget over the last three years. “Every project owner wants predictability when it comes to large projects, and...
 
 
 
 
 
 
 
 
 
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