http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.68Change: 0.02
R/$ = 10.97Change: 0.06
Au 1198.77 $/ozChange: 0.61
Pt 1220.50 $/ozChange: -2.50
 
 
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 Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Sep 07, 2011

Basil Read to buy 52% stake in Australian construction firm

Back
Construction|Engineering|Africa|Basil Read|Central Systems|GRCS Trust|Matthew Reid Project Management|PROJECT|Project Management|Purple Trust|Seafire Holdings|Systems|Africa|South Africa|AUD|USD|Systems|Wilson Bayly Holmes Ovcon
Construction|Engineering|Africa|PROJECT|Project Management|Systems|Africa|||Systems|
construction|engineering|africa-company|basil-read-company|central-systems-company|grcs-trust|matthew-reid-project-management|project|project-management|purple-trust|seafire-holdings|systems-company|africa|south-africa|aud|usd|systems|wilson-bayly-holmes-ovcon-person
© Reuse this



JSE-listed construction and engineering company Basil Read said on Wednesday that it would buy a majority 52% interest in Australian civil engineering company Central Systems for A$15-million (about R112-million).

The company said that the transaction was in line with its stated intention of growing into markets outside South Africa.

The acquisition would be funded through Basil Read’s banking facilities and is expected to be concluded by November 1. The vendors included the Purple Trust, the GRCS Trust, Seafire Holdings and Matthew Reid Project Management.

Central Systems is a profitable business and is anticipated to be earnings accretive for Basil Read.

Basil Read advised shareholders to exercise caution when dealing with its securities until a further announcement containing the financial effects of the acquisition were released.

South African construction companies are increasingly looking to expand outside the country, as the local market remained flat. Earlier this week, Wilson Bayly Holmes Ovcon said that it would target growth in the Australian market, while Aveng reported that its Australasian orders contributed nearly 51% of its overall two-year order book.
 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
The South African National Accreditation System (Sanas), which operated under the auspices of the Department of Trade and Industry (DTI), is embarking on a drive to develop synergistic accreditation bodies across Africa to bolster international trade. The continent’s...
Eskom capital division group executive Dan Marokane
Electricity utility Eskom says it and Anglo American have concluded a memorandum of understanding (MoU) that maps out the process to be followed to enable the parties to conclude a final coal-supply contract for the Kusile power station, which is currently being...
South Africa has dropped four places to rank eighty-third in the World Energy Council’s 2014 Energy Trilemma Index as the country’s performance remained stagnant, while other countries such as China and Nigeria improved their rankings. The WEC Energy Trilemma Index...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry
South Africa’s defence industry has sophisticated manufacturing capabilities and it has been at the forefront of many significant defence developments locally and internationally. The industry has a high level of State involvement in terms of acquisitions and...
Road and Rail 2014: A review of South Africa's road and rail infrastructure
The state of a country’s transport infrastructure is a key determinant of the performance and growth of its economy, as well as of the social and economic opportunities available to that country’s population. South Africa is investing substantially in its transport...
Real Economy Year Book 2014
There have been some improvements in global economic conditions over the past few months, with the US set to grow at a better pace in 2014 than has been the case in the years following the global economic crisis. Few economic commentators are anticipating a hard...
Real Economy Insight: Water
The 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...
Real Economy Insight: Steel
The 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...
Real Economy Insight: Road and Rail
The 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...
 
 
 
 
 
This Week's Magazine
JSE-listed real estate investment trust (REIT) Rebosis Property Fund achieved a distribution growth of 8.1% to 99.45c per linked unit in the financial year ended August 31, despite volatile market conditions.
JAMES ROBERTS The MOM incubator was designed to help babies in developing nations who were dying in conflict-struck nations or who do not receive hospital care
A low-cost, inflatable incubator won this year’s international James Dyson design award, which aims to encourage and inspire the next generation of design engineers.
The World Bank released its ‘Doing Business 2015: Going Beyond Efficiency’ report last month and ranked South Africa 43 out of 189 global economies for its ease of doing business, with Singapore topping the rankings.
Air Products South Africa officially launched its R300-million Eastern Cape air- separation unit (ASU), at its new manufacturing facility in the Coega Industrial Development Zone (IDZ), earlier this month. It is the second facility that Air Products launched in South...
BMW South Africa (SA) has signed a power purchasing agreement with energy company Bio2Watt. The offtake partnership will bring renewable energy to the carmaker’s Rosslyn plant, north of Pretoria.
 
 
 
 
 
 
 
 
 
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