R/€ = 17.08
R/$ = 14.96
Au 1282.76 $/oz
Pt 1069.00 $/oz
Nov 06, 2007
B&W will seek to diversify customer base after 2010Back
Construction|Port|Africa|Eskom|Gas|Industrial|Instrumentation|Mining|Nuclear|Petrochemicals|Platinum|Power|PROJECT|Projects|Transnet|Africa|Democratic Republic Of Congo|Power Generation|Power-generation|Infrastructure
Local instrumentation company B&W Instrumentation & Electrical said that it continued to see growth in its current markets - mining, infrastructure and industrial - until 2010, and would diversify from then on.
MD Brian Harley said on Tuesday, when the company released its full year results for 2007, that beyond 2010, B&W's strategy would see the firm become increasingly involved in projects in the nuclear, petrochemicals and power generation sectors with giants such as Sasol and Eskom.
Executive chairperson John Barrow noted that the firm expected to be involved in the construction of between two and three oil refineries in the Southern African region by 2010.
He added that B&W's strategy also included an additional effort to augment its foothold in Africa, particularly in the mining sector in the mineral-rich Democratic Republic of Congo.
Looking locally, the firm was recently awarded a small reticulation project (R70-million to R80-million) by Transnet, its first job as part of the Coega development, which Harley commented allowed the company to position itself strategically in the Port Elizabeth area.
On a larger scale, B&W's biggest project, the platinum concentrator for Anglo Platinum's Potgietersrus mine valued at R134-million, is expected to be completed in March next year.
Of the company's identified projects in the pipeline until 2010 (in the power generation, mining, chemical, gas and oil, industrial, food and beverage and nuclear sectors) over 80% have already passed the feasibility stage and are into the bankable feasibility stage, Harley noted.
These projects are forecast to be worth about R5-billion in 2010.
Barrow commented that all the results had been up from the previous year, and on target with predictions.
B&W posted headline earnings a share of 14,2c a share for the year ended August 31, and reported a profit after tax of R24,8-million for its maiden annual financial results following its listing on the AltX in July. Dividends of 3,5c a share will be paid to shareholders.
Revenue for the period was R294-million and R336-million has been projected for August 2008.
The order book stood at R240-million at the end of August, which was lower than the R336-million estimate, however, Barrow pointed out that it currently stood at R312-million.
Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
To subscribe email email@example.com or click here
To advertise email firstname.lastname@example.org or click here
Updated 16 minutes ago Despite the headwinds facing the South African economy and ongoing political uncertainty, real estate investment trust Redefine Properties delivered a “robust performance” in the first half of the financial year, with a distribution of 41.7c for the six months to...
Updated 32 minutes ago Less than one percent of staff stayed away from work on the first day of a strike by members of the Communication Workers Union (CWU), the SA Post Office said on Thursday. CEO Mark Barnes said it was “business as usual” as the first day of the strike had had a...
Updated 43 minutes ago Denel’s board said Finance Minister Pravin Gordhan’s accusation that the board and executives are “arrogant and belligerent … are unsubstantiated, baseless and unfounded”. Gordhan made the accusation during his Treasury budget debate in Parliament on Wednesday. This...
Recent Research Reports
Energy Roundup – May 2016 (PDF Report)
The May 2016 roundup covers activities across South Africa for April 2016 and includes details of the National Energy Regulator of South Africa’s proposal to introduce a coal benchmark cost as part of its final decision on Eskom’s multiyear price determination...
Automotive 2016: A review of South Africa's automotive sector (PDF Report)
Creamer Media’s Automotive 2016 Report provides an overview of South Africa’s automotive industry over the past 12 months. The report provides insight into local demand and production, vehicle imports and exports, investment and competitiveness in the sector, as well...
Energy Roundup – April 2016 (PDF Report)
The April 2016 roundup covers activities across South Africa for March 2016 and includes details of a North Gauteng High Court Judge’s dismissal of a court application to postpone the 9.4% electricity tariff increase, which the National Energy Regulator of South...
Electricity 2016: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2016 report provides an overview of South Africa’s electricity sector, focusing on State-owned power utility Eskom and independent power producers, electricity planning, transmission, distribution and the theft thereof, besides other issues.
Energy Roundup – March 2016 (PDF Report)
The March 2016 roundup covers activities across South Africa for February 2016 and includes details of the Department of Energy’s plans to announce the preferred bidders for the first tranche of the coal independent power producer procurement programme; the Council...
Steel 2016: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2016 Report examines South Africa’s steel industry over the past 12 months. The report provides insight into the global steel market and and particularly into South South Africa’s steel sector, including production and consumption, main...
This Week's Magazine
The two spent-fuel pools at Eskom’s 1 800 MW Koeberg nuclear power station, in the Western Cape, will be full by 2018, increasing the urgency on the State-owned utility to begin pursuing alternative storage options. Koeberg has, over the past 32 years, accumulated a...
South Africa lacks the skills necessary to implement the government’s plan to build 9.6 GWe of new nuclear energy capacity, warns nuclear-qualified Quality Strategies International CEO David Crawford. “Apart from the concern about the affordability of the programme,...
Cybersecurity multinational Check Point has released its latest 700-series cybersecurity systems for small businesses, which draw on its international threat intelligence to provide up-to-date cybersecurity, says Check Point South Africa country manager Doros...
Daimler Trucks and Buses Southern Africa (DTBSA) saw a marked slip in new-vehicle sales in 2015 compared with 2014, with sales dropping from 5 897 units to 5 300 units. The decline came as the South African new truck and bus market declined from 31 558 units in 2014...
Group of 20 (G-20) economies threatened to penalise havens that don’t share information on their banking clients after the leak of the Panama Papers provoked a global uproar over tax evasion. The G-20 will consider “defensive measures” against financial centers and...