R/€ = 14.49
R/$ = 10.50
Au 1294.90 $/oz
Pt 1407.50 $/oz
Jan 22, 2004
GM confirms Delta takeoverBack
Russelsheim|BMW|BOC Group|Cadillac|DaimlerChrysler|Delta Motor Corporation|General Motor|General Motors South Africa|GM Europe|Motors|Reuters|Toyota Motor Corporation|Volkswagen|Africa|Latin America|Brazil|Germany|South Africa|United States|Motors|Jeffrey S McGuire|Maureen Kempston Darkes|Motors|Robert Socia|Willie Van Wyk|Middle East
© Reuse this US carmaker General Motor (GM) is set to take over South Africa’s Delta Motor Corporation, it was announced yesterday.
GM’s decision to buy the remaining 51% of Delta comes after negotiations between the two started in October last year. In 1997, GM bought 49% of Delta.
The proposed deal is subject to approval by South Africa’s Competition Commission.
Robert Socia will be appointed president and managing director of General Motors South Africa (GMSA) and Jeffrey S McGuire will be appointed director of human resources, GMSA.
Socia would succeed Willie van Wyk, managing director of Delta, who has elected to leave the company in order to pursue other interests but will assist in the transition.
“Willie van Wyk started at Delta as director of sales and marketing and his leadership and performance led to his appointment as managing director in 1992. He has done a great job of leading Delta to a prominent place in the industry and leaves a very solid, competitive company,” said Maureen Kempston Darkes, GM group vice-president and president of GM’s Latin America, Africa, Middle East region.
Prior to this assignment, Socia has been a vice-president of GM Europe in charge of worldwide purchasing in Russelsheim, Germany, since 1999.
He also served as chairperson of GM-Fiat Worldwide Purchasing since the establishment of the purchasing joint venture in the fall of 2000.
Socia (49) began his career with the Cadillac Division of General Motors in 1975 in finance, before moving into the purchasing function. He has held a number of purchasing and materials management positions for the former BOC Group, Cadillac and GM do Brasil, before becoming executive director of chemicals at GM’s worldwide purchasing.
Reuters reports that, if the deal is approved by the Competition Commission, GM will join European and Japanese rivals such as BMW, DaimlerChrysler, Volkswagen and Toyota Motor Corporation who have consolidated their positions in South Africa through either wholly-owned subsidiaries or majority shareholdings in local units.
GM, the world’s largest vehicle manufacturer, employs about 340 000 people globally and has manufacturing operations in 32 countries.
Edited by: Martin Czernowalow© Reuse this Comment Guidelines
Recent Research Reports
Steel 2014: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2014 report provides an overview of the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless...
Projects in Progress 2014 - First Edition (PDF Report)
This publication contains insight into progress at the delayed Medupi and Kusile coal-fired projects, in Mpumalanga and Limpopo respectively, as well as at the Ingula pumped-storage scheme, which is under construction on the border between the Free State and...
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
This Week's Magazine
The Electronic Systems Laboratory (ESL) of the Department of Electrical and Electronic Engineering at Stellenbosch University is strongly reaffirming its position as one of South Africa’s leading centres for satellite technology and expertise. It is currently...
The world’s lowest-cost diesel-electric locomotive is not made in China, but in Pretoria, at RRL Grindrod Locomotives’ newly upgraded 30 000 m2 plant. The company’s locomotive pricing is “more competitive than any other original-equipment manufacturer (OEM)...
The South African Defence Review 2012, released to the public at the end of last month (despite the year given in its title) recommends the creation of the post of Chief Defence Scientist. This official would be responsible for the management of defence technology...
AltX-listed engineering technology company Ansys has been awarded an R188-million contract by Transnet to supply integrated dashboard display systems to the freight rail utility’s locomotives. Black-owned and controlled Ansys developed the bespoke integrated system...
South Africa’s sole nuclear power station Koeberg, which is located in the Western Cape, breached a major operations milestone on April 4, which marked the thirtieth anniversary of Unit 1 having been connected to the grid. Eskom, which operates the two-unit plant,...