Aveng to retain ownership of McConnell Dowell, Moolmans sale negotiations continue
Following thorough investigations of a range of options for the separation of New Zealand-based infrastructure construction company McConnell Dowell, JSE-listed construction and engineering company Aveng says the best route to obtaining value for shareholders is for it to retain ownership of McConnell Dowell.
McConnell Dowell will continue its focus on improving operational performance, which includes improving profitability, sustainably and winning quality new work.
McConnell Dowell has secured new work in excess of A$1.2-billion in the current financial year and has been confirmed as the preferred bidder on a further A$1.2-billion of contracts to be awarded in future periods, Aveng says.
Further, negotiations for the sale of the mining contractor Moolmans business continue with the preferred party. This included detailed due diligence on contracts and an extended period of negotiations.
Aveng has appointed Pieter van Greunen as MD of Moolmans, with immediate effect. He is a seasoned South African mining executive with more than 35 years’ experience.
The board thanked outgoing MD Rod Dixon for his contribution.
Aveng expects to release its reviewed results for the six months ending December 31, 2025, on or about February 24.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
















