Alstom SA empowerment stake moves to 35%
May 2003
News
Alstom SA has increased its black economic empowerment shareholding to 35%. This follows the announcement in October last year of a restructuring of Alstom's businesses in South Africa, which was underwritten by Rand Merchant Bank pending finalisation of the empowerment capital requirements.
A loan facility granted by the Industrial Development Corporation will finance equity stakes to be taken by Kgorong Investment Holdings and Sibilant Investments, wholly owned by Mbuso Dlamini. The black economic empowerment equity now comprises:
* Tiso Private Equity Fund (13%).
* Management/Trust (3%).
* Kgorong Investment Holdings (17%).
* Sibilant Investments (2%).
A further 7% of the shares are still earmarked for sale to empowerment companies as per the original agreement. Rand Merchant Bank holds an equity stake of 26%, with the balance of the shares held by Alstom Europe (10%) and management.
The change in shareholding has not affected the operational structure of Alstom SA, or its ability to provide traditional products and services to customers. As in the past, Alstom SA has exclusive distribution, technology and representation rights for Alstom in southern Africa, and maintains management and commercial links to the Alstom business units in Europe.
In addition to its shareholding in Alstom SA, Alstom has retained a representation office in southern Africa to follow major projects on behalf of the European company. Alstom SA managing director, Mark Wilson has retained his position as country president for Alstom in southern and eastern Africa.
Philippe Joubert, president of Alstom Transmission and Distribution internationally will continue as chairman of Alstom SA, and Letepe Maisela, Sam Mosikili and Mbuso Dlamini will be appointed to the board of directors.
Alstom SA employs 4000 people and has an annual turnover in excess of R2bn. It has 25 operating units, including three empowerment subsidiaries, 19 production facilities and 21 distribution centres throughout southern Africa.
Alstom is a global specialist in energy and transport infrastructure. The company serves the energy market through its activities in the fields of power generation and power transmission and distribution, and the transport market through its activities in rail and marine.
For further information contact Mark Dixon, Alstom SA, 011 820 5037, [email protected]
Further reading:
The unseen crisis in our taps
News
South Africa’s water crisis is no longer looming. It is already here. To move forward, water treatment must become part of a broader infrastructure renewal agenda. This includes decentralised solutions, private-sector innovation and long-term investment.
Read more...
German experts for bulk solids measurement technology join forces
Mecosa
News
MÜTEC Instruments in Germany has acquired DYNA Instruments. the German manufacturer of inline moisture and mass flow measurement systems.
Read more...
Specialised Exhibitions transitions to new name: Montgomery Group Africa
News
As part of a strategic move to streamline operations, strengthen regional alignment and support long-term growth, Specialised Exhibitions has transitioned to a new name: Montgomery Group Africa.
Read more...
RS South Africa and Qhubeka empower learners through the gift of mobility
RS South Africa
News
RS South Africa, in partnership with Qhubeka Charity, is continuing to make a tangible difference in the lives of South African learners through its bicycle donation initiative.
Read more...
A technical partnership that lasts
Omniflex Remote Monitoring Specialists
News
Ian Loudon, international sales and marketing at remote monitoring specialist, Omniflex reflects on the longevity of the partnership with Sasol, the key technology milestones along the way, and the most recent project in South Africa.
Read more...
From the Editor's Desk: The human side of automation
Technews Publishing (SA Instrumentation & Control)
News
Spring is here, holidays are getting closer and there’s a new energy in the air. With this in mind, in this issue we cover the very important topic of ECSA registration. SAIMC’s COO, Gerhard Greeff,
...
Read more...
RS South AfrIca empowers student innovators
RS South Africa
News
RS South Africa is helping young engineers turn ideas into impact.
Read more...
VEGA’s Lunch-and-Learn success in KZN
VEGA Controls SA
News
VEGA has rolled out its new Lunch-and-Learn series to the coastal regions of South Africa, designed to bring practical training and real-world insights directly to engineers and technicians.
Read more...
New Würth Elektronik location in South Africa
News
A new Würth Elektronik branch has opened in Brackenfell, Western Cape. The location operates under the name Wurth Electronics South Africa and will serve local customers, as well as being responsible for markets in Botswana, Mauritius, Namibia, Tanzania and Zambia.
Read more...
John Thompson and BECS partner to deliver biomass energy solutions
ACTOM Electrical Machines
News
John Thompson, a division of ACTOM and South Africa’s leading provider of industrial energy solutions, has announced a strategic partnership with Berkeley Energy Corporate Solutions, a specialist developer and supplier of biomass energy projects. Together, the companies aim to accelerate the deployment of reliable, renewable steam solutions to industrial customers across Africa.
Read more...
printer friendly version