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.
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