| 19-05-2004 |
| CEMENTATION MERGER APPROVED |
| The Competition Tribunal has unconditionally approved the merger between
Murray Roberts Limited and the Cementation Company (Africa) Ltd, enabling Murray
& Roberts to expand its mining contracting capacity to clients across all global
markets.
The Cementation businesses were part of Kvaerner Construction (UK), which Swedish company Skanska acquired in 2000. They include global mine design, mine development, mine engineering and mine contracting services as well as contract mining operations. In the year to December 2002, the total net revenue of the Cementation Africa businesses was the equivalent of R1,5 billion, with an operating profit of R44 million. “Clients in the global mining resources sector are looking to their contractors for higher levels of services integration in the development of their underground assets and activities”, said Murray & Roberts chief executive Brian Bruce. “The change in risk allocation associated with these trends demands that we pursue a strategy of greater critical mass and a more effective global presence”. The MD of Murray & Roberts Engineering Solutions (MRES), Sean Flanagan, has been appointed MD-designate for the new mining contracting business resulting from the acquisition. Flanagan will be succeeded at MRES by Philip Chaba. |
