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Embattled South African construction firm Aveng reports wider FY operating loss

By: Reuters     26th September 2018 South Africa's Aveng reported on Tuesday a wider annual net operating loss due to declining revenue in two business units in its manufacturing business as well as under-performance of three key contracts in its core mining Moolmans unit. After market close, the construction firm reported a net... 

Aveng expects to wrap up noncore disposals by June 2019

By: Terence Creamer     7th September 2018 Embattled construction group Aveng expects to finalise the disposal of all noncore businesses by June 2019. Following a strategic review, the JSE-listed company identified Aveng Trident Steel, Aveng Grinaker-LTA, Aveng Manufacturing, as well as certain properties and other assets, for sale. 

Effective control of substance abuse in industry crucial

By: Jessica Oosthuizen     8th June 2018 There is a need for effective control of substance abuse in the manufacturing industry as it is a major issue, says drug and alcohol testing equipment supplier Alco-Safe MD Rhys Evans. Alco-Safe has more than 4 000 clients using its services, across industries, including mining, construction,... 

Aton says will not support M&R’s proposed transaction with Aveng

By: Simone Liedtke     21st May 2018 German-owned Aton believes Murray & Roberts (M&R) is putting its interests ahead of that of shareholders and other stakeholders with its proposed combination with Aveng. The sole intent of M&R’s announcement on Friday that it plans to merge with Aveng, Aton states, is to frustrate Aton’s... 

Cargo Carriers Welcomes Solly Letsoalo

23rd January 2018 Appointment Of Chief Executive Officer The board of directors of Cargo Carriers is pleased to announce the appointment of Mr Lekau (Solly) Letsoalo as Chief Executive Officer and an executive director of Cargo Carriers with effect from 8 January 2018. Solly is a senior business executive with... 

Implementing local designation of valves a challenge for industry

By: Dylan Stewart     6th November 2015 Since the Department of Trade and Industry (DTI) designated valves as a priority product that needed to be locally manufactured, in March last year, it has become quite a challenge for the valves industry to implement the DTI’s vision, says Valve and Actuator Manufacturers Cluster of South Africa... 

Aveng seeking to navigate through weak infrastructure, commodities cycle

By: Irma Venter     27th February 2015 Construction and engineering group Aveng has been faced with weak markets almost everywhere it turned, says CEO Kobus Verster. Continued softness in the local construction sector has made it particularly difficult for the still-struggling Grinaker-LTA to regain its footing. 

Weak markets, problem contracts take toll on Aveng

By: Irma Venter     17th February 2015 Construction and engineering group Aveng was faced with weak markets almost everywhere it turned, said CEO Kobus Verster on Tuesday. Continued softness in the local construction sector made it particularly difficult for the still-struggling Grinaker-LTA to regain its footing. 

Aveng readies for 45% H1 earnings nosedive

By: Natalie Greve     11th December 2014 Construction group Aveng expects headline earnings and headline earnings per share (HEPS) to decline by at least 45% in relation to the comparative period’s R307-million and 82.1c a share respectively, translating into headline earnings of R169-million and HEPS of 45.2c for the six months ending... 

Meet the New Team at Aveng Manufacturing Dynamic Fluid Control

14th November 2014 The new guard at Aveng Manufacturing is steadfast in its focus to grow and expand the 125-year old manufacturing business across the African continent. With combined specialist skills across water, effluent and mineral processing sectors this African market leader says the newly integrated... 

Aveng continues to experience difficult trading conditions

By: Leandi Kolver     4th November 2014 Construction and engineering group Aveng continues to experience difficult trading conditions in line with general economic conditions of the group’s key markets of South Africa and Australia, Aveng group chairperson Angus Band told shareholders on Tuesday. He said, in a continuation of the... 

Aveng in R376m loss as underperforming Grinaker-LTA, problem projects take toll

By: Irma Venter     5th September 2014 An underperforming Grinaker-LTA and problem projects in Australia in the past financial year continued to take their toll on construction and engineering group Aveng. The JSE-listed company in August reported its financial results for the year ended June 30, with revenue up 2%, to R53-billion,... 

Troubled Gold Coast project, Grinaker-LTA erode Aveng profit

By: Irma Venter     26th August 2014 An underperforming Grinaker-LTA and problem projects in Australia in the past financial year continued to take their toll on construction and engineering group Aveng. The JSE-listed company on Tuesday reported its financial results for the year ended June 30, with revenue up 2%, to R53-billion,... 

Aveng share price falls as company announces drop in FY earnings

By: Idéle Esterhuizen     5th August 2013 The share price of construction firm Aveng fell by 11.44% on Monday afternoon as its announced that it expected its headline earnings a share and earnings a share for the year ended June 30 to be 10% lower than the 128.1c a share and 134.9c a share recorded in the 2012 financial year. This was on... 

Council replaces theft-prone poles with concrete alternative

12th July 2013 South African construction company Aveng Manufacturing’s subsidiary, Aveng Manufacturing Infraset, last month completed Phase 1 of a tender awarded to it by the Ekurhuleni metropolitan municipality to replace copper-theft syndicate-prone steel street-lighting poles with I-shaped... 

Aveng consolidates business units

By: Natasha Odendaal     3rd May 2013 JSE-listed Aveng Group has embarked on the consolidation of its individual business units under the group’s steel, construction and engineering portfolio in an effort to improve the customer focus of the businesses and streamline operations. The group said on Friday that it would regroup certain... 

Concrete poles chosen for Roodepoort integrated housing project

By: Megan van Wyngaardt     27th April 2012 South African construction company Aveng Manufacturing’s subsidiary Aveng Manufacturing Infraset has been contracted to supply over 3 000 prestressed I-shaped concrete poles for the electrification of a fully-integrated housing development in Fleurhoff, in Roodepoort, Gauteng. 

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