https://www.miningweekly.com

M&R sells manufacturing units for R1.3bn as repositioning continues

12th July 2013

By: Terence Creamer

Creamer Media Editor

  

Font size: - +

Construction and engineering group Murray & Roberts (M&R) reported in late June that it had agreed to sell four of its construction-products busi- nesses for R1.3-billion to consortiums comprising private-equity companies and management.

The group of businesses disposed of included Much Asphalt, Rocla, Technicrete and Ocon Brick, and M&R also confirmed that negotiations with potential buyers of its steel-piping subsidiary, Hall Longmore, were ongoing.

Much Asphalt was sold to a consortium comprising private-equity firm Capitalworks, together with certain Much Asphalt senior management and executives.

The Ocon Brick, Technicrete and Rocla businesses, meanwhile, were sold to a consortium comprising Capitalworks, RMB Ventures and certain senior management of those businesses.

The disposal formed part of an ongoing strategic repositioning of M&R, which was being led by CEO Henry Laas.

The JSE-listed group had already disposed of steel producer Cisco, which it sold in 2012 to DHT Africa, a unit of a Turkish company, and Union Carriage & Wagon, which was sold in early 2013 to black economic-empowered Commuter Transport Engineering.

Laas said the proceeds would be used to reduce debt and invest in market sectors and geographies that presented growth potential for its engineering and construction businesses.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.041 0.97s - 110pq - 2rq
Subscribe Now