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Steel group to approach Nersa for power-tariff relief  

By: Terence Creamer     7th February 2019 Steel producer ArcelorMittal South Africa (AMSA) says it will submit site-specific applications to the National Energy Regulator of South Africa (Nersa) to secure tariff relief from Eskom for its operations in Gauteng, KwaZulu-Natal and the Western Cape. The submissions will be made in line with... 

AMSA reports first profit since 2010 on back of higher steel prices  

By: Terence Creamer     7th February 2019 Following years of sustained losses, steel producer ArcelorMittal South Africa (AMSA) reported a full-year profit in 2018, on the back of a 12% rise in average realised prices and a 5% increase in sales volumes, supported by a 21% rise in export sales. The company last reported a full-year profit... 

Aveng names Sean Flanagan CEO

By: Mariaan Webb     20th December 2018 Construction group Aveng has appointed a former Murray & Roberts executive to lead the company from February 1, it announced on Thursday. Sean Flanagan will take up the position of CEO on February 1, taking over from interim CEO Eric Diack, who will resume his role as nonexecutive chairperson... 

Thabazimbi mine transfer to AMSA finalised

By: Simone Liedtke     12th October 2018 The transfer of ownership of the Thabazimbi iron-ore mine, from Kumba Iron Ore to steel producer ArcelorMittal South Africa (AMSA) has been finalised, Kumba said on Friday. Kumba in early 2017 agreed to transfer the mine, in Limpopo, to AMSA, for R1, plus the assumed liabilities. 

AMSA seeks growth opportunities in sub-Saharan Africa amid muted domestic steel demand

By: Nadine James     10th October 2018 In light of weak domestic demand, ArcelorMittal South Africa (AMSA) has implemented a strategy to enhance its short-term profitability and cashflow, thereby, ensuring the business’ sustainability and positioning it to exploit growth in the sub-Saharan Africa region, says CEO Kobus Verster. During... 

AMSA to finalise Macsteel sale by Dec

By: Marleny Arnoldi     27th September 2018 Steel producer ArcelorMittal South Africa’s (AMSA’s) shareholders on Thursday approved the sale of AMSA’s 50% indirect interest in Netherlands-based Macsteel International Holdings (MIH) to a subsidiary of Macsteel Holdings Luxembourg for $220-million, or R2.8-billion. AMSA advised that the... 

AMSA studies new Vanderbijl electric arc furnace as it moves to restart Vereeniging mill 

By: Terence Creamer     1st August 2018 Steel producer ArcelorMittal South Africa (AMSA), which announced its first interim profit in six years and may be on track to deliver its first full year profit since 2010, has initiated a study for the construction of a new electric arc furnace (EAF) at its Vanderbijlpark mill and has also... 

AMSA moves to sell stake in Macsteel International for R2.8bn

By: Terence Creamer     28th May 2018 Steel producer ArcelorMittal South Africa (AMSA) announced on Monday that it intended to sell its 50% indirect interest in steel trading and shipping business Macsteel International (MIHBV) to a subsidiary of Macsteel Holdings (MacHold) for $220-million, or around R2.8-billion. The proposed... 

Resources Watch  

8th February 2018 Wind of change sees DMR grant prospecting licences to De Beers And, AMSA weighs asset disposals as losses mount, debt rises and rand strengthens 

Aveng subsidiary to retrench 2 863 workers - union

By: Reuters     1st February 2018 South Africa's National Union of Mineworkers (NUM) said on Thursday it had received a notice that 2,863 workers would be laid off by a subsidiary of construction firm Aveng because most of its projects were about to be completed. Work for South Africa's construction industry has slowed sharply as... 

AMSA weighs asset disposals as losses mount, debt rises and rand strengthens 

By: Terence Creamer     31st January 2018 ArcelorMittal South Africa (AMSA) is considering various asset disposals as part of a plan to strengthen its balance sheet, which remains under pressure as a result of a protracted period of lossmaking, which has endured since 2010. The JSE-listed steelmaker declared another headline loss of... 

Digital public-private high school celebrates ten years 

2nd March 2017 Information technology multinational Oracle last month celebrated the tenth year of the fully digital high school, which it built in partnership with the Gauteng Department of Education.  

Aveng to seek shareholder backing for sale of Grinaker-LTA stake to Kutana in March  

By: Terence Creamer     21st February 2017 Construction and engineering group Aveng will seek shareholder approval before the end of March for the sale of a 51% beneficial interest in Aveng Grinaker-LTA to Kutana Construction, a black economic empowerment company. Aveng has also decided to include Aveng Water in the transaction, along... 

Black women-led group to buy 51% of Aveng Grinaker-LTA

By: Terence Creamer     11th October 2016 Construction group Aveng announced on Tuesday that it had concluded a binding agreement to sell a 51% beneficial interest and an initial 45% economic interest in Aveng Grinaker-LTA to Kutana Construction for a maximum of R756-million. Kutana Construction is a black women-owned and -led business... 

Cummins launches technician training programme  

1st September 2016 Cummins Africa has added a compressed natural gas engine technician training programme to its training centre in Kelvin View, in Gauteng, to support the use of CNG in the region and the continent. Schalk Burger has the details. 

‘Transformational’ deal to change Aveng Grinaker-LTA’s look-and-feel, not tick BEE boxes 

By: Terence Creamer     23rd August 2016 South African construction and engineering group Aveng expects to conclude an empowerment transaction within months to further transform its Aveng Grinaker-LTA business, which is on the cusp of moving into the black for the first time since 2011. CEO Kobus Verster believes the transaction to be... 

There are ‘numerous avenues’ for govt to assist construction sector, says Aveng CEO

By: Irma Venter     4th March 2016 Despite a tight budget perhaps inhibiting infrastructure spend, there remained numerous avenues for government to assist the South African construction industry, said Aveng CEO Kobus Verster last week as he announced his company’s results in Johannesburg. For example, there was no need to delay... 

Aveng reduces losses at Grinaker, looks to divest from steel business

By: Irma Venter     23rd February 2016 Despite a tight budget perhaps inhibiting infrastructure spend, there remained numerous avenues for government to assist the South African construction industry, said Aveng CEO Kobus Verster on Tuesday. For example, there was no need to delay the next round of renewable-energy projects, which had... 

Aveng disposes of South African properties

By: Irma Venter     18th September 2015 Aveng has concluded the sale of the majority of its South African properties to Imbali Props 21 Proprietary, a commercial property development and investment company within the Collins Property Group, for R1.127-billion. In terms of the transaction, Aveng disposed of 70% of Dimopoint, a special... 

Aveng Group nets R1.1bn from sale of SA properties 

By: Irma Venter     3rd September 2015 Aveng has concluded the sale of the majority of its South African properties to Imbali Props 21 Proprietary, a commercial property development and investment company within the Collins Property Group, for R1.127-billion. In terms of the transaction, Aveng disposed of 70% of Dimopoint, a special... 

More Aveng restructuring possible unless new orders secured soon

By: Irma Venter     28th August 2015 Aveng chairperson Mahomed Seedat on August 18 opened the Aveng results presentation in Johannesburg by noting that the board was “very disappointed” with the “less than satisfying results” delivered by the construction group for the year ended June 30. He said the board was determined to turn the... 

Aveng confirms big job cuts as it reports R578m loss 

By: Irma Venter     18th August 2015 Aveng chairperson Mahomed Seedat on Tuesday opened the Aveng results presentation in Johannesburg by noting that the board was “very disappointed” with the “less than satisfying results” delivered by the construction group for the year ended June 30. He said the board was determined to turn the... 

Aveng appoints replacement for Robinson

By: Creamer Media Reporter      31st July 2015 JSE-listed Aveng has appointed McDermott International commercial senior VP Scott Cummins as CEO of its Asia and the Pacific subsidiary McConnell Dowell, effective October 1. Cummins would succeed outgoing CEO David Robinson, who was retiring this year, but would remain available to the company... 

Aveng seeking to navigate through weak infrastructure, commodities cycle

By: Irma Venter     27th February 2015 Construction and engineering group Aveng has been faced with weak markets almost everywhere it turned, says CEO Kobus Verster. Continued softness in the local construction sector has made it particularly difficult for the still-struggling Grinaker-LTA to regain its footing. 

Weak markets, problem contracts take toll on Aveng

By: Irma Venter     17th February 2015 Construction and engineering group Aveng was faced with weak markets almost everywhere it turned, said CEO Kobus Verster on Tuesday. Continued softness in the local construction sector made it particularly difficult for the still-struggling Grinaker-LTA to regain its footing. 

Sishen solar photovoltaic plant connects to national grid

By: Sashnee Moodley     23rd January 2015 The 216-GWh-producing Sishen solar photovoltaic (PV) plant in the Northern Cape has officially connected to the national grid and will have the highest level of electricity output of all the operational solar PV plants in Africa, said Spanish stakeholder Acciona Energía, last month.  

‘Africa’s highest producing’ solar plant connects to national grid 

By: Sashnee Moodley     12th December 2014 The 216-GWh-producing Sishen solar photovoltaic (PV) plant in the Northern Cape has officially connected to the national grid and will have the highest level of electricity output of all the operational solar PV plants in Africa, says Spanish stakeholder Acciona Energía.  

Aveng in R376m loss as underperforming Grinaker-LTA, problem projects take toll

By: Irma Venter     5th September 2014 An underperforming Grinaker-LTA and problem projects in Australia in the past financial year continued to take their toll on construction and engineering group Aveng. The JSE-listed company in August reported its financial results for the year ended June 30, with revenue up 2%, to R53-billion,... 

Troubled Gold Coast project, Grinaker-LTA erode Aveng profit

By: Irma Venter     26th August 2014 An underperforming Grinaker-LTA and problem projects in Australia in the past financial year continued to take their toll on construction and engineering group Aveng. The JSE-listed company on Tuesday reported its financial results for the year ended June 30, with revenue up 2%, to R53-billion,... 

Aveng appoints new CFO

By: Natalie Greve     5th June 2014 Construction major Aveng Group has announced the appointment of professional services firm EY audit partner Adrian Macartney as group FD and CFO with effect from September 8. Kobus Verster, who had been occupying the role of acting group FD in addition to his role as CEO, would now relinquish his... 

Auckland’s “Alice” cautiously creates Waterview’s rabbit hole

31st March 2014 The Aveng Group has a reputation for taking on significant infrastructure projects that have the potential to create substantial positive change in the areas in which they are operating.  Australian-based McConnell Dowell’s current project to build the Waterview Connection Alliance in Auckland,... 

Struggling Grinaker-LTA expected to break even in next financial year

By: Irma Venter     7th March 2014 Grinaker-LTA remained a persistent thorn in Aveng’s side for the six months ended December 31, while several claims on large projects also piled on the pressure. Aveng CEO Kobus Verster says revenue for the construction and engineering group increased 11%, to R27.65-billion, for the six months... 

Clover completes Queensburgh production, distribution facility 

By: Creamer Media Reporter      6th March 2014 JSE-listed Clover has completed its newly expanded Queensburgh production and distribution facility, in Durban, bringing to a close its three-year Cielo Blu project.  

Problem contracts, labour unrest take toll on Aveng 

By: Irma Venter     25th February 2014 Grinaker-LTA remained a persistent thorn in Aveng’s side for the six months ended December 31, while several claims on large projects also piled on the pressure. Aveng CEO Kobus Verster said on Tuesday that revenue for the construction and engineering group increased 11%, to R27.65-billion, for... 

Aveng promotes FD to CEO role

By: Natalie Greve     11th February 2014 The Aveng Group has announced the appointment of acting CEO and FD Kobus Verster as CEO, with with immediate effect.  .  Verster, who had “extensive” experience in the steel and mining sectors, holds a BCom degree from the University of Potchefstroom and a BCom Honours in Economics degree from... 

SA unit main cause of ‘very disappointing’ year for Aveng

By: Irma Venter     20th September 2013 “The bottom line is that we have to stop scoring own goals and execute profitable work,” says Aveng CFO and acting CEO Kobus Verster. He notes that continued losses at Aveng’s South African construction business, Grinaker-LTA, are largely to blame for the negative performance of the construction... 

Aveng sees profit slide as Grinaker-LTA posts R950m loss 

By: Irma Venter     10th September 2013 “The bottom line is that we have to stop scoring own goals and execute profitable work,” said Aveng CFO and acting CEO Kobus Verster on Tuesday. Speaking in Johannesburg, he noted that continued losses at Aveng’s South African construction business, Grinaker-LTA, were largely to blame for the... 

Mixed reaction to Jardine’s resignation

By: Terence Creamer     21st August 2013 Reaction to the announcement that Aveng CEO Roger Jardine had resigned was sharply divided – with some expressing genuine shock and others indicating that it came as “no surprise”, owing to the recent poor performance of the company. Jardine’s resignation was effective from August 31, when CFO... 

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