http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.63Change: -0.02
R/$ = 12.27Change: 0.00
Au 1169.21 $/ozChange: 3.89
Pt 1084.00 $/ozChange: 1.00
 
 
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 Corporate Profiles News
Aerosud’s flagship company Aerosud Aviation has come a long way since 2000, when the company’s diversification into commercial aviation as a manufacturer and supplier of parts and accessories to Boeing and Airbus started in earnest. The company succeeded in winning...
Aerosud programme aimed at empowering lower-paid employees To quality as a broad-based black economic empowered (BBBEE) company in terms of the BBBEE Amendment Act, 2013, Aerosud is placing the focus on putting suitable mechanisms in place to enable its lower-paid...
Aerosud, South Africa’s leading aeromechanical parts manufacturer, has restructured its operations as part of a strategy aimed at ensuring continued strong growth. The restructure, put into effect in June, is directed at strategically positioning and financially...
More
 
 
Latest News
Updated 1 hour 2 minutes ago Nigeria's Transcorp plans to spend $1.575-billion from 2016 to 2018 to raise its power generation capacity to 2 500 megawatts (MW) from 610 MW now, the company said on Thursday. Transcorp, which also has interest in hotels, oil and gas, said it expected the...
Updated 1 hour 31 minutes ago The ebola virus, economic decline in some countries, and South Africa’s new immigration regulations are to blame for the drop in tourist arrivals to South Africa, Grant Thornton Advisory Services said on Monday. About 150 000 fewer tourists visited South Africa in...
Updated 1 hour 35 minutes ago Strong economic growth in Mozambique is supported by major investments in the coal mining and natural gas sectors but stricter control over state-run firms is necessary, the International Monetary Fund said on Thursday. "Mozambique's continued strong growth...
More
 
 
Recent Research Reports
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.
Real Economy Insight: Road and Rail 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
NHLANHLA NENE The main constraints to economic growth are domestic
Finance Minister Nhlanhla Nene earlier this month stated that, while South Africa’s 2015 economic growth target of 2% was achievable, it was not enough to deliver the tax revenue needed to combat the country’s challenges.
The World Steel Association has published the 2015 edition of the World Steel in Figures report, which shows an increase in steel production as well as provides an overview of steel industry activities from crude steel production to apparent steel use.
The 25-year master plan for Gauteng’s Aerotropolis project will go through a process of approval and adoption during June and July, says Aerotroplis project manager Jack van der Merwe. “We are also in the process of putting together a special purpose vehicle (SPV) to...
SOLAR PANELS The existing buildings in the Coega Industrial Development Zone lent themselves well to rooftop solar panel installations
The Coega Development Corporation (CDC) plans to fit 15 of its buildings, totalling 127 000 m2 of roof space, in the Coega Industrial Development Zone (IDZ), in the Eastern Cape, with solar panels.
The Supreme Court of Appeal’s (SCA’s) November 2014 judgment, ordering steel producer ArcelorMittal South Africa (AMSA) to hand over the 2003 Environmental Master Plan for its Vanderbijlpark steel plant to environmental pressure groups, confirmed the right of civil...
 
 
 
 
 
 
 
 
 
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