From Creamer Media in Johannesburg, this is the Real Economy Report.
Sashnee Moodley:
Machine component manufacturer Precision Separators will be manufacturing and producing components for a medical isotope facility in Pretoria. Simone Liedtke tells us more.
Simone Liedtke:
Precision Separators bought six computer numerical control (CNC) machines, in November 2016, from machine industry company Hurco, to manufacture and produce components for private company Klydon’s medical isotope facility, MoF6.
Precision Separators Production Manager Christo Green:
Simone Liedtke:
More than 50 000 general engineering components – manufactured from stainless steel, aluminium, brass or plastic – need to be manufactured within 24-months.
Green adds that these parts will be used within the heart of the process.
Precision Separators Production Manager Christo Green:
Simone Liedtke:
He further adds that the isotopes, which are produced with the assistance of the manufactured components, are then used in the diagnostics of cancer research.
Precision Separators Production Manager Christo Green:
Simone Liedtke:
Hurco regional manager Christo Moolman explains that there is, however, a huge gap in education and skills development for the machine tools and engineering industry, with most of the older-generation tool, mould and instrument makers retiring.
Hurco Regional Manager Christo Moolman:
Hurco Regional Manager Christo Moolman:
Simone Liedtke:
He enthused that each machine supplied to Precision Separators came with conversational programming, which assists with the education gap and also meant that there was no need for Precision Separators to incur additional costs for software programming of the machines.
Hurco Regional Manager Christo Moolman:
Sashnee Moodley:
Other news making headlines:
Land Bank sets aside R1bn to support black farming investments in 2017
And, political decisions, downgrades push policy uncertainty into negative territory
South Africa’s Land Bank has set a target of disbursing “at least” R1-billion in 2017/18 to support investments by black entrepreneurs in the agricultural sector and to begin transforming a loan book that is still overwhelmingly composed of funding to established commercial farmers.
Land Bank CEO TP Nchocho
The North-West University School of Business and Governance’s Policy Uncertainty Index increased to 51 in the first quarter of this year, putting it in negative territory.
Professor Raymond Parsons
Sashnee Moodley:
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.