Tuesday, January 26, 2010.
From Creamer Media in Johannesburg, I'm Shannon de Ryhove.
Making headlines today:
The board of Denel Saab Aerostructures (DSA) has appointed its operations chief, Theo Kleynhans, as the acting CEO, following the resignation of Lana Kinley earlier this month.
The DSA board said that it treated the appointment of a permanent CEO "as a matter of urgency", adding that it was fast-tracking the process.
Kinley and CFO Sasa Methola resigned in mid-January.
Following the resignations and talk of retrenchments at DSA, trade union Solidarity expressed its concern about the stability of the aerostructure design and manufacturing company.
However, DSA affirmed that it would continue to strive to provide on-time service, quality and value for its customers, thereby creating a prosperous company for both its employees and owners. To this end, one of the company's key focus areas remains business development.
JSE-listed aggregate and cement producer Pretoria Portland Cement would look to expand into other African countries, as demand for its product slowed in South Africa.
PPC CEO Paul Stuiver said that for the company to achieve a similar growth rate to that experienced over the past few years, it would have to focus its attention further afield.
Stuiver noted that PPC's further venture into Africa would be carefully thought out and deliberate, and would take into consideration the economic drivers such as the population, industries in the specific countries, as well as their gross domestic product.
Lower sales figures during the past period, especially from the residential market, had necessitated PPC's expansion into the rest of Africa.
Also making headlines:
Ghana plans to begin natural gas production from its offshore Jubilee field by the fourth quarter of this year for domestic consumption.
Inflation is a bigger problem than the strong exchange rate for South Africa's competitiveness.
South Africa's Chamber of Mines recommends a doubling of the amount of money set aside for the reduction of power demand between 2010 and 2013.
And, South Africa's central bank warns shareholders against abusing their power for personal interests.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.