Building and construction materials manufacturer Brikor said it would sell its Bronkhorstspruit properties and operations to businessperson Marius van Wyk for R10-million, to regain focus on its core operations and to strengthen its financial position.
The JSE-listed company, which is pursuing a restructuring programme to restore operations to profitability, said in a statement that the sale was in line with its strategy to dispose of noncore operations to strengthen its cash resources and improve its debt burden.
“The proceeds from the disposal will be utilised to reduce debt‚” Brikor stated.
Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
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