Commission decision on DRA/ELB JV expected within 3 months
JOHANNESBURG (miningweekly.com) – Materials handling groups DRA and ELB expected the Competition Comission to approve their proposed ARDBEL joint venture (JV) within three months, DRA said in a statement on Wednesday.
In January, the companies announced the formation of the JV to enable formal collaboration between the two organisations to combine their skills on large-scale materials handling projects across Africa.
However, the formal establishment of the JV remained subject to the commission’s approval.
The JV would enable ELB to extend its current capabilities and offerings into large-scale materials handling projects by leveraging DRA’s large-scale project delivery credentials.
DRA expected the JV to increase the DRA’s group revenue by 10%.
The JV would also enable DRA to extend its current offering along the mining value chain, thus meeting its objective of offering engineering and operating pit-to-port engineering solutions, which the companies believed was an attractive proposition to new mine developers in Africa.
A formal business plan was being jointly developed, with staff initially seconded from each of the parent companies, pending the appointment of a CEO and permanent staff members.
The equity, which was split equally, was held in the parent company of each of the partners.
Consequently, there was no link between the DRA group and ELB’s equipment supply business.
“As such, the procurement of materials handling equipment would be undertaken through the normal competitive processes as already established in each parent organisation,” DRA said in a statement.
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