http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.97Change: -0.08
R/$ = 13.35Change: -0.05
Au 1132.94 $/ozChange: -1.91
Pt 1003.00 $/ozChange: -17.00
 
 
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  
 
 
Apr 09, 2009

Illovo outlines plan to streamline SA business

Back
Construction|Africa|Export|Packaging|PROJECT|Sappi|Africa|Zambia|Packaging|Products|Services
Construction|Africa|Export|Packaging|PROJECT|Sappi|Africa|Zambia|Packaging|Products|Services
construction|africa-company|export|packaging-company|project|sappi|africa|zambia|packaging|products|services
© Reuse this



JSE-listed sugar producer Illovo Sugar has made a number of strategic disposals, investments and changes in structure that would result in a more streamlined South African business, it reported on Thursday.

It would also expand the group’s footprint and future earnings potential in the rest of Africa, it told shareholders in a statement.

The producer announced that it was planning to transfer its South African business to a wholly owned subsidiary from April 1, 2010.

Further, the sale of its Umfolozi sugar mill to a grower consortium had been concluded, while it had reached an agreement with TSB Sugar for the sale of its Pongola sugar mill.

In addition, the producer had bought a 30% stake in a new business entity, which had bought the Gledhow sugar mill from Ushukela Milling.

Illovo would also provide technical services to the new entity, in which paper and packaging group Sappi and a consortium of cane growers, Ushukela, also owned a stake.

Meanwhile, the group had entered into a joint venture (JV) with a local community at Maragra, in Mozambique, for the development of 4 000 ha of land into cane plantations over the next two years.

The project, which was situated about 40 km from Illovo’s Maragra sugar mill, would produce 400 000 t/y of cane and was linked with the doubling of the capacity of the sugar factory in the area to 150 000 t/y of sugar.

Further, the group had acquired an option to buy a 90% stake in the Búzi sugar estate, near Beira, in Mozambique, which could potentially lead to the construction of a sugar factory in the area in future, stated Illovo.

ZAMBIA EXPANSION

The second phase of the group’s expansion project, in Zambia, which increased the capacity of the Nakambala sugar mill to 450 000 t/y of sugar, meanwhile, had been completed by the start of April, as planned.

The producer said that it had also acquired a majority stake in a cane growing company that delivered cane to its Nakambala mill. The company was producing about 325 000 t/y of cane, at present, with the potential to increase this output further.

SUGAR EXPORTS

Illovo Sugar had also secured an effective route for the export of its products to the European Union (EU) market from October by concluding an investment in a JV partnership with British Sugar.

Duty-free and quota-free sugar exports from Africa, the Caribbean and Pacific exporters and from least-developed countries into the EU would come into effect on October 1.

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Agriculture News
State-owned entity Land Bank has posted a 9.3% drop in profit from continuing operations year-on-year, citing a decline to R352.5-million in the 2015 financial year from R388.6-million in the 2014 period. The bank’s net cash position improved from R1.47-billion to...
Article contains comments
The long-standing health of South Africa’s agricultural sector depends on the sustainability of farming methods, which need to take into account long-term productivity, the impact on the environment, as well as profitability. However, sustainable agriculture in the...
ENSURING FOOD SECURITY The CSIR believes that new traits in the production of GM maize will impact positively on the country's economy
Significant developments in genetically modified (GM) crops have been made in South Africa’s agriculture sector , including increased crop yield, which has a direct impact on food production and food security, and a decrease in the use of pesticides and herbicides in...
Article contains comments
More
 
 
Latest News
Updated 14 minutes ago South Africa's mining industry, unions and the government signed a broad plan on Monday to stem a wave of job losses triggered by falling commodity prices and soaring costs. The document of the blue print seen by Reuters last week included boosting platinum by...
Updated 20 minutes ago Six new Johannesburg suburbs – Hurlingham, Glenadrienne, Hyde Park, Northcliff, Sharonlea and Olivedale – have thrown their weight behind telecommunications provider Vumatel to provide fibre-to-the-home in their communities. They would join Saxonwold, Parkwood,...
Updated 2 hours 48 minutes ago South Africa's rand traded weaker against the dollar early on Monday after the Federal Reserve's vice chairman suggested over the weekend that the US may raise rates in September. At 0630 GMT the rand eased 0.14% to 13.3275 per dollar, extending losses to a third...
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