FLSmidth announces new equity structure
Global engineering company FLSmidth is building on its 100 years of successful business in the Africa region with the announcement of a new equity structure. The structure will result in a broad-based black economic-empowerment (BBBEE) ownership status for its South African operations.
The new structure positions the company as procurement partner of choice for the mining industry with the capability to offer total solutions.
Going forward, Phetogo Bontle Community Equity will hold 25.1% shares in FLSmidth South Africa and the broad-based Phetogo Trust will hold a 100% stake in Phetogo Bontle Community Equity. The trust will fund various corporate social investment initiatives and support the integration of minority groups into the economy.
“FLSmidth, as a Danish company, remains committed to social development wherever it operates. “The new structure reflects that FLSmidth is also a responsible corporate citizen in South Africa, and we trust that this will further improve our relationship with all of our customers and suppliers,” says FLSmidth South Africa MD Peter Lohrmann.
FLSmidth took the first step towards empowerment status back in 2010, when establishing FLSmidth Roymec, which delivers a portfolio of engineering and materials handling projects to international customers.
“With the change in the landscape in South Africa, there is a fundamental need for us to empower all of our businesses here – not just part of them. By doing so, we give our customers access to the sort of empowerment measures they require in their own procurement, as well as signal our commitment as a major multinational in responding to the changing dynamics of the country,” say FLSmidth GM Alistair Calver.
Comments
Research Reports
Projects
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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
