https://www.engineeringnews.co.za
Aveng|Business|Construction|Engineering|Environment|fluid control|Mining|rail|Roads|Sustainable|Systems|Water|Products|Solutions
Aveng|Business|Construction|Engineering|Environment|fluid control|Mining|rail|Roads|Sustainable|Systems|Water|Products|Solutions
aveng|business|construction|engineering|environment|fluid-control|mining|rail|roads|sustainable|systems|water|products|solutions

Aveng sells Duraset Alrode business for R50m

7th August 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed construction group Aveng has entered into a binding agreement to sell its Aveng Duraset Alrode business to Videx Wire Products for R50-million.

Duraset Alrode is a diversified supplier of engineered support solutions to the mining and geotechnical industries.

Videx manufactures roof support systems and ventilation ducting for the mining industry.

Aveng expects the transaction to be concluded by October 31.

Aveng on Wednesday commented that, amid a challenging market environment, which included depressed demand in many of the sectors in which it operates, the company had been focused on simplifying and optimising its portfolio of core businesses.

Since August last year, Aveng has disposed of its Water, Rail, Dynamic Fluid Control, Infraset, Rand Roads and Ground Engineering businesses.

CE Sean Flanagan said in a statement on Wednesday that the company was making progress to reduce debt and create liquidity through the sale of noncore businesses, realising a more sustainable, long-term capital structure for Aveng.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.297 0.353s - 161pq - 2rq
Subscribe Now