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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. 

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... 

Aveng announces early bond redemption and R1.8bn rights issue

By: Anine Kilian     30th April 2018 JSE-listed construction group Aveng will implement a R1.8-billion rights offer to raise the capital needed to fund the early redemption of a portion of its existing convertible bonds of R2-billion. The rights offer will also add R300-million in new capital into the business. 

Aveng outlines new business plan, posts H1 loss

By: Anine Kilian     27th February 2018 JSE-listed Aveng, which posted a headline loss of R335-million for the half year ended December 31, on Tuesday outlined details of the outcome of its strategic review, which involved a very “thorough and robust interrogation” of all parts of the business. The review was aimed at  identifying the... 

BMW plant refurbishment project nabs Steel Award

24th November 2017 This year’s Steel Awards, hosted by the Southern African Institute of Steel Construction and  sponsored by steel manufacturer and supplier Aveng Trident Steel, saw BMW’s heavy electric monorail system (H-EMS) win both the overall winner award, and the Safal Steel Innovation Category award. The... 

Upstream and downstream industry has to work together

By: Victor Moolman     18th August 2017 Upstream and downstream steel industries need to work together to overcome the challenges of imports and tariffs in the steel construction industry, says South African Institute of Steel Construction (Saisc) CEO Paolo Trinchero. 

Entries open for Aveng Trident Steel Awards

By: David Oliveira     3rd March 2017 Entries are open for the Southern African Institute of Steel Construction’s (Saisc’s) Aveng Trident Steel Awards 2017 and Cadex Systems South Africa Photo Competition. Saisc CEO Paolo Trinchero says after the high standard of last year’s awards, there has been “extraordinary” expectation... 

Aveng nears completion on Sasol Place

By: Megan van Wyngaardt     28th November 2016 Aveng Grinaker-LTA is nearing the completion of Sasol’s new global headquarters, Sasol Place, in Sandton. The building is designed in an S-shape, which links the core of the building with two atriums and represents the linked particles of the Sasol logo. The internal structure of the building is... 

Steel fabricator taking survival steps as pressures mount 

By: Zandile Mavuso     6th November 2015 Since China reduced its steel consumption owing to overcapacity in February last year, over the past 18 months, multidisciplinary construction and engineering group Aveng’s Steel division has initiated several work streams to acclimatise and reposition the group ahead of the restructuring... 

Aveng announces R830m of impairments for 2014 FY

By: Natalie Greve     2nd July 2014 Following financial losses at Aveng Grinaker-LTA for the financial years 2012 through 2014, allied to prolonged weakness within the local infrastructure environment and the limited evidence of near-term market improvement, construction major Aveng will fully impair the goodwill and related... 

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... 

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... 

Amid tough SA conditions, Aveng warns of sharp tender slowdown in Australasia

By: Irma Venter     30th November 2012 Adverse market conditions, notably in the construction and steel environment, were still impacting on the Aveng Group, said chairperson Angus Band in a statement at the company’s annual general meeting held earlier this month. He noted that the construction market in Australasia had slowed down... 

Delayed tenders, mine strikes to take toll on Aveng

By: Irma Venter     8th November 2012 Adverse market conditions, notably in the construction and steel environment, were still impacting on the Aveng Group, said chairperson Angus Band in a statement at the company’s annual general meeting on Thursday. He noted that the construction market in Australasia had slowed down... 

Aveng forecasts up to 60% earnings drop

By: Megan van Wyngaardt     15th August 2012 Shares in JSE-listed construction and materials group Aveng fell nearly 5% on Wednesday as the company warned that it would report lower earnings when it published its financial results for 2012 early next month. Earnings and headline earnings a share for the year ended June 30 would be between... 

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