https://www.engineeringnews.co.za

Invicta to distribute Fenner’s products in Africa

25th July 2017

By: African News Agency

  

Font size: - +

Invicta Holdings said on Tuesday that its subsidiary company, Bearing Man Group (BGM), has entered into a long-term agreement with Fenner Conveyor Belting to distribute Fenner's products in sub-Saharan Africa on an exclusive basis and on a nonexclusive basis in the rest of Africa.

Invicta is an investment holding and management company controlling and managing assets worth more than R14-billion. It has interests in engineering solutions, capital equipment and building supplies.

In terms of the deal, Fenner’s South African conveyor belt plant will supply BMG with conveyor belting for South Africa and the other specified territories.

Fenner designs and manufactures conveyor belts for mining and heavy duty industrial applications. It offers steel cord conveyor belts and fire resistant conveyor belting products.

BMG will also acquire the Engineered Conveyor Solutions (ECS) service operations and related assets of Fenner in South Africa.

“The transaction is an exciting opportunity for both BMG and Fenner to further strengthen the existing long-term relationship between the respective companies,” Invicta said in a statement.

“The transaction will enable both BMG and Fenner to harness their respective strengths and develop sales opportunities in South Africa and the wider sub-Saharan territories for conveyor belting, using the well-respected and well-established branch and distributor network operated by BMG.”

The transaction is conditional on clearance from the relevant competition authorities.

Last month, Invicta reported exceptional results for the year ended March 31, 2017 with operating profit before foreign exchange movements increasing by 35.9% to R1.16-billion from R853-million in 2016.

Edited by African News Agency

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer
Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.118 0.176s - 155pq - 2rq
Subscribe Now