http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 15.12Change: -0.22
R/$ = 13.43Change: -0.15
Au 1138.55 $/ozChange: -2.50
Pt 1004.00 $/ozChange: -4.00
 
 
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  
 
 
Feb 17, 2006

Engineering firm rides the waves of technological progress

Back
Engineering|Africa|Building|Consulting|Defence|General Electric|Industrial|Nuclear|Africa|Energy|Products|Solutions|Consulting Engineers
Engineering|Africa|Building|Consulting|Defence|General Electric|Industrial|Nuclear|Africa|Energy|Products|Solutions|Consulting Engineers
engineering|africa-company|building|consulting-company|defence|general-electric|industrial|nuclear|africa|energy|products|solutions|consulting-engineers
© Reuse this This is truly an intellectual-capitalcompany,” enthuses IST group chiefexecutive Harry Coetzee.

“We see intellectual capital as the ability to generate one’s own intellectual property (IP) or to put other people’s IP to good use through the employment of highly-skilled people,” he explains.

“As the demand for different engineeringsolutions arises in the economy, whatever they may be, IST will adopt them, master them, and offer them to the market,” heassures.

“We are first and foremost an engineering company – we are led by engineers,the majority of our staff are engineers,supported by other disciplines,” heelucidates.

IST’s primary skills sets are electricalengineering, electronic engineering,computer engineering and software, and then mechanical engineering – it hassome work which requires chemical and metallurgical engineers.

“There is no other company in SouthAfrica that has the breadth of engineering,the depth of skills, and the breadth and depth of experience that we have, under one roof,” he maintains.

The phrase ‘under one-roof’ is almostliterally true; except for IST Industrial,located in Centurion, in the Tshwane Metro, south of Pretoria, all IST’s otherdivisions are located in a single building in Menlyn, eastern Pretoria. “It is important to stress that we are not consulting engineers; rather, we deliver turnkey solutions – we don’t do just advice; we dodesign and delivery; and our investment ineffort has always been on getting a continualinflux of new, skilled people from universitiesand technikons, and on the continuous acquisition of new, high-tech products and solutions,” he affirms.

Technologies have always changed over time; once those time periods could bemeasured in centuries then in decades and now in years.

The company does not seek merely to keep up with these changes; it seeks to ride the crest of the technology wave and bring the latest to the South African market.

The company is able to do this because its diversified nature means that, while onedivision is spending money and time onabsorbing and mastering new technology, it can, if need be, be kept afloat by the profits generated by the other divisions.

“This allows us to take on new technologiesin their early gestation phase: we are committed to supplying leading-edge technologiesat the front of the learning curve and we do so with a blend of our own IP and imported IP which we adapt to local conditions,” points out Coetzee.

That also means that the group is constantly evolving and adapting. Founded 25 years ago, today’s IST bears little resemblance to theoriginal company, except in spirit.

“IST started as a defence company; if ithad remained a defence company, it would not have survived – but it adapted; by its nature it continues to adapt, and it will always adapt,” he states.

“In a smaller company like ours, whichhas a flat managerial structure, a culture offrugality, and an egalitarian ethos, instilled by IST founder Derrick du Toit, you have theadvantage of quicker decision-making, and a more entrepreneurial approach,” he highlights.

These factors, plus one more, also explain how the company can survive, in fact thrive, in the face of competition by giant multinationals.

That extra factor is location.

IST is not a global player – it is an African player; it does some work outside Africa but its core markets are South Africa and Africa: the company’s skills base is here, and not in Europe or North America, and that gives IST its competitive edge, as its clients do not have to wait for its people to fly in from across the world.

Further, the company has established a strong relationship with one of the biggest and most powerful of the world’s great technology companies: General Electric.

“I think we have ample evidence that this strategy is a good one,” he affirms.

Today, the IST group comprises IST Holdings, which controls the group; three branches or wings; and eight divisions orcompanies.

The three branches are: Electronics, Intellectual Property and Development (IPD), and Industrial.

Electronics comprises IST Data, IST Energy, IST Otokon, and IST Telecom.

IPD comprises IST Dynamics and IST Nuclear.

Industrial is now composed of IST Industrial and IST Technik.

“Provided we continue to build our skills set, which we are committed to doing, this company has a fantastic future,” concludes Coetzee.
Edited by: Keith Campbell
Creamer Media Senior Deputy Editor
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Construction News
Eqstra Contract Mining Division CEO Justin Colling
JSE-listed Eqstra’s embattled contract mining and plant rental division is showing signs of recovery and is nearly ready to look after itself, the unit’s new CEO Justin Colling said on Tuesday. The division plunged into turmoil last year, dragging its parent’s...
Moe Shaik
Megaprojects are often over budget and delayed and project planning is a crucial element in ensuring the successful delivery of such projects.
JSE-listed real estate investment trust (Reit) Hyprop achieved a 15% increase in total distributions to 543c a share for the 2015 financial year. Revenue and distributable earnings from investment property increased by 11.9% and 14.5%, respectively, while net asset...
Article contains comments
Article contains comments
More
 
 
Latest News
The African Development Bank (AfDB) will focus in coming years on tackling Africa's chronic power shortages to try to unlock its economic potential and end its vulnerability to fluctuations in commodity prices, its new president said. Though it boasts nearly a...
To increase the number of international arrivals in Cape Town from 1.56-million to 2.1-million a year over the next five years, which could potentially create 100 000 jobs in the Western Cape’s multibillion-rand tourism sector, the provincial Minister of Economic...
Eqstra Contract Mining Division CEO Justin Colling
JSE-listed Eqstra’s embattled contract mining and plant rental division is showing signs of recovery and is nearly ready to look after itself, the unit’s new CEO Justin Colling said on Tuesday. The division plunged into turmoil last year, dragging its parent’s...
More
 
 
Recent Research Reports
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
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.
 
 
 
 
 
This Week's Magazine
Training company The Intelligence Transfer Centre will host the fourth yearly Environmental Crimes Conference at the Indaba Hotel, in Fourways, Johannesburg between September 9 and 10. Confirmed key regulatory bodies that will attend the event include the Department...
The government of Egypt has said it is ready to provide technical assistance to Malawi in the development of the Shire–Zambezi waterway, which is designed to link landlocked Malawi to the Indian Ocean by opening the two rivers for navigation. Egyptian ambassador to...
Kenya is finally set to start building a new multipurpose petroleum pipeline, after securing a $350-loan from a consortium of banks, including South Africa's Rand Merchant Bank. The other banks in the consortium are the Cooperative Bank of Kenya, Citibank's Kenya...
MARAIS VAN HEERDEN The owner/operator should be able to view the overall project design and progress made at any time
Three-dimensional (3D) engineering design models can now be viewed on tablets, which enable stakeholders to view the design without having to buy the design software used to create it, says engineering design firm 3DDraughting executive Marais van Heerden. The...
Ford’s newest offering in a long list of newcomers to the local market in the last two years is the B-Max multi-activity vehicle (MAV). The B-Max will play in the so called B-MAV segment, or the small MAV segment, currently dominated by Toyota’s Avanza, which sells...
 
 
 
 
 
 
 
 
 
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