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Monday, March 16, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

South Africa's biggest auto industry union has urged the government to rescue any group facing collapse. The National Union of Metal Workers of South Africa said on the weekend that companies that benefit from bailouts must agree to protect jobs.

Numsa said the government should also make incentives to the motor industry that are conditional on guaranteeing jobs.

South Africa's motor industry has been badly hurt by the economic crisis. Local new vehicle sales have declined 36% in February. This is the biggest monthly decline in more than two decades. Exports have also been hit as developed markets reel.

Component makers have asked for a 10-billion-rand rescue package. The government is due to unveil plans to help struggling industries this month.

Heavy-equipment manufacturer Bell Equipment was confident its revised business plan would enable it to "combat the economic downturn" and would allow it to emerge from the downturn "a stronger and better company".

The manufacturer said in a statement to shareholders that it would focus on maintaining a positive cash flow and on realising the value in inventory and receivables.

The group expected lower demand and difficult trading conditions to continue throughout the year. It said it had secured additional financing since the end of the 2008 financial year that would ensure a "safety buffer" should trading conditions deteriorate further.

Also making headlines:

Steel producer Highveld Steel & Vanadium says the outlook for the steel market in 2009 remains "concerning".
South Africa's president Kgalema Motlanthe urges coordinated action on the economic crisis.
An analyst says 563-billion-dollars is needed to meet Africa's 20-year power needs.
And, France will host an energy efficiency conference in South Africa.

That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.