Rolfes to acquire PWM Group, support companies for R54.1m
Diversified chemicals manufacturer Rolfes will acquire the businesses of water purification company PWM Group for R54.1-million in a cash-and-share deal.
Some 70% of the consideration would be settled in cash, and the balance through the issue of shares in subsidiary, Rolfes Newco.
The agreement would see Rolfes acquiring all PWM subsidiaries for R20.8-million, water purification and treatment company Anticor for R11.1-million, manufacturing chemicals provider Goschem for R2.1-million, as well as 70% of chemical and equipment importer Tetralon Chemical Consultancy for R14-million.
Rolfes believed the acquisition would provide it with an opportunity to gain entry into the water, chemicals and treatment sector, as well as add a new range of chemical products and associated services to the group’s existing product basket.
The acquisition also formed part of Rolfes’ long-term strategy to offer a complete basket of chemical products to a spectrum of industries and would assist the group in securing additional business for its African exports.
The businesses of PWM and its associated companies would, for at least three years, continue to be managed by certain key members of the current management team on a standalone basis, as was the case with other Rolfes subsidiaries.
Rolfes would then, through the business acumen of group management, determine the long-term strategy of these subsidiaries, and provide them with treasury, human resources, information technology, legal and finance support functions.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation