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Latest News

Anglo backs soccer’s world cup bid

By: Martin Creamer     10th April 2003 South Africa’s largest company yesterday threw its considerable weight behind the new South African bid to stage the 2010 soccer world cup in this country, Engineering News Online can today report. 

Pechiney in aluminium deal with Russian group

     10th April 2003 French metals giant Pechiney and Russia's second-largest aluminium producer, SUAL, plan to set up a joint venture to build an aluminium facility in Russia's northern Komi region, SUAL said yesterday. 

R40bn worth of private equity funding in SA

     10th April 2003 South Africa’s private equity capital under management and commitments amounts to a substantial R40,6-billion, says global business advisor KPMG and Southern African Venture Capital and Private Equity Association (SAVCA) in their fourth annual survey of the industry. 

Oil group in slow Nigeria restart

     10th April 2003 The Nigerian unit of US oil major ChevronTexaco said this week it was continuing to gradually ramp up oil production at facilities it had been forced to abandon following ethnic clashes last month. 

Manufacturing output falls – Stats SA

     10th April 2003 South African manufacturing output fell in the three months to end-February, data showed this week, raising concerns that economic growth could have slowed further in the first quarter of the year. 

Sasol woos foreigners with NYSE listing

     10th April 2003 South African synthetic fuels group Sasol made its debut on the New York Stock Exchange yesterday, in a move it hopes will transform it into a truly global firm and showcase its technology, CEO Pieter Cox said. 

High-level BEE task team appointed

     10th April 2003 South Africa’s Minister of Trade and Industry, Alec Erwin, yesterday announced the names of members of the department’s newly-appointed black economic empowerment (BEE) task team. 

CDC welcomes Pechiney-NPA deal

     10th April 2003 The Coega Development Corporation (CDC) has welcomed the signing of the port development and services contract between the developer of the deepwater Port of Ngqura, the National Port Authority (NPA), and French aluminium company, Pechiney, in Cape Town yesterday. 

SA electricity prices set to rise - regulator

     10th April 2003 For the past two decades South Africa has been in the fortunate position of being able to generate more electricity than what it uses, but this could soon change, MPs heard on Wednesday. 

Pechiney’s Coega smelter moves a step closer

     9th April 2003 French aluminium producer Pechiney has stepped closer to building a smelter near South Africa's coastal resort of Port Elizabeth with environmental clearance and a deal on power supply, officials said yesterday. 

BMW commissions R350m paint plant

By: Martin Czernowalow     9th April 2003 The commissioning of BMW South Africa’s R350-million state-of-the-art paint preparation facility in Rosslyn, near Pretoria, this week marked the first phase of the company’s R2-billion investment in plant expansion and modernisation in South Africa. 

Appeal made for labour-based public works strategy

     9th April 2003 South Africa should embark on a significant public works strategy in a bid to reduce unemployment and manage the politics of economic reform, the Centre for Development and Enterprise (CDE) argues in a detailed report. 

New standard for interactive TV

     9th April 2003 The International Telecommunication Union (ITU) has announced the approval of a new standard that allows content providers to roll out value-added interactive TV (iTV) services to any network without modification. 

Merger activity falls in 2002

     9th April 2003 The twelfth annual Ernst & Young Mergers and Acquisitions book, which reports on merger and acquisition (M&A) activity in South Africa for the year 2002, reports that merger and acquisition transactions recorded during 2002 equalled R242,4-billion, compared to the total of R502,4-billion for 2001. 

Aveng in R120m move to buy Aussie construction firm

     9th April 2003 Local construction and steel group Aveng plans to increase its shareholding in the McConnell Dowell Corporation, an Australian listed construction company, to 100% in a deal worth R120-million – currently Aveng holds 63% of the company. 

LNM confirmed as world steel No 2

     9th April 2003 Figures released by the International Iron and Steel Institute (IISI) for 2002 show that, with an annual output of 34.8m metric tonnes of crude steel, the LNM Group has become the world’s second largest steel company. 

Forest privatisation bids to be submitted to Cabinet

By: Martin Czernowalow     8th April 2003 A shortlist of bidders vying for a major stake in Komatiland Forests is set to be approved by the South African government in May, Engineering News Online can report. 

SA biotech firm sets up venture with German leader

     8th April 2003 A local biotechnology firm has set up a joint venture agreement with a German group to manufacture and supply specialty amino acids for pharmaceutical and human nutritional applications. 

Skills a big concern for SA civil industry

     8th April 2003 South Africa’s Bureau for Economic Research (BER) said yesterday business confidence in the civil engineering sector, in first quarter of the year, had firmed moderately, reflecting that business conditions turned out better than expected. 

Air Botswana says to complete sell-off by Sept

     8th April 2003 Air Botswana said yesterday it had identified five airlines as possible buyers of a 45% stake in the carrier and it expected to conclude the privatisation by September this year. 

Rand/dollar rate sets pace for SA maize

     8th April 2003 A stronger dollar set the pace for South Africa's maize market yesterday, and together with a bullish technical outlook the greenback's moves, looked set to dominate direction for the week, traders said. 

Steel body won't pursue LME futures-market idea

     8th April 2003 The Board of the International Iron and Steel Institute (IISI), which met in Vancouver, Canada, at the weekend, has announced that the organisation will not participate in Steel Futures Market with the London Metal Exchange (LME). 

Coega still awaits aluminium smelter decision

     8th April 2003 A final decision by French aluminium group Pechiney on whether they will build a R20-billion smelter plant within the Coega industrial development zone (IDZ) in the Eastern Cape is expected before November this year. 

AECI: a born-again corporate

By: Martin Creamer     7th April 2003 One of South Africa’s oldest and best-known corporate companies entered a new era last week. 

Speculation rises over SA’s chopper choice

By: Keith Campbell     7th April 2003 The fact that Finance Minister Trevor Manuel has made R1,2-billion available over the next three years for the purchase of maritime helicopters, to operate from the four new corvettes on order from Germany for the South African Navy (SAN), suggests that the Navy may get the aircraft it has long... 

Astronomy is good business - Ngubane

     7th April 2003 Astronomy is good business for South Africa, and if a local bid to build a giant radio telescope is successful, a further $500-million (about R3,9-billion) in foreign investment benefits could flow into the country over the next decade. 

EU-ACP trade, aid deal comes into force

     7th April 2003 The trade, aid and political agreement signed in Cotonou, Benin in June 2000 between the 77 African, Caribbean and Pacific (ACP) States and the EU came into full force last week. 

Tractor suppliers ‘cautious’ about coming season

     7th April 2003 The agricultural machinery industry is looking ahead at the next few months with caution, the South African Agricultural Machinery Association said last week. 

Cape canal project begins

     7th April 2003 Transnet’s property arm, Propnet, claims that its Roggebaai Canal Precinct project, in Cape Town, could contribute over R2-billion to the region over the next decade. 

Fagan to sue Fluor for apartheid wrongs

     7th April 2003 Lawyers representing a group of black South Africans said on Saturday they would sue US firm Fluor Corp for at least $1-billion as compensation for discrimination and abuse under apartheid. 

Price of auto steel rises by 14,3% in 2003

By: Terence Creamer     4th April 2003 Progress has been made in the long-running dispute between steel producer Iscor and the South African automotive industry over the issue of price increases for 2003. 

War impacts structural steel demand

     4th April 2003 The Southern African Institute of Steel Construction (SAISC) has revised the anticipated demand for structural steel, following the slowdown of world economies and the anticipated effect of the Iraq war. 

Manufacturing confidence slightly down

By: Martin Czernowalow     4th April 2003 The overall confidence level in the manufacturing sector slipped to 49 index points in March – from 56 in February – following signs of manufacturing prospects dropping off since the middle of last year, the South African Chamber of Business (Sacob) said yesterday. 

Sexwale leads SA business on African mission

     4th April 2003 A South Africa Foundation delegation, led by Mvelaphanda Holdings chairperson Tokyo Sexwale, will visit Sudan, Equatorial Guinea, Gabon and Angola next week. 

State urges firms to recycle plastic

     4th April 2003 Companies responsible for the production of plastic bags have been told to play by the rules to protect the environment or face stiff penalties. 

Black-owned firm takes stake in cable maker

     4th April 2003 Black empowerment group, Kgorong Investment Holdings, has acquired a 25,1% shareholding in telecommunications cable manufacturer ATC. 

Nigerian oil outage far from ending

     4th April 2003 Oil majors, forced to shut down almost 40% of Nigerian crude output following ethnic violence, said yesterday they could not estimate when they would restart production in the affected areas. 

Gounden quits as Public Enterprises DG

     4th April 2003 Public Enterprises Jeff Radebe announced yesterday that his Director General, Dr Sivi Gounden, will be leaving the department at the end of May 2003 to pursue a career in the private sector. 

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