https://newsletter.en.creamermedia.com

Slurry pump manufacturer inks BEE deal

4th August 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

South African slurry pump manufacturer Pump and Abrasion Technologies has offloaded a 30% stake to Innovative Strategic Investments (ISI) in a black economic-empowerment (BEE) deal that will allow the company to advance its ambition of expanding into Africa.

The deal, which was financed by Grindrod Bank, was structured to meet several criteria, including the stipulation that it be fully funded, Grindrod Bank executive director Andrew Blades explained.

“It was [also] crucial that there be mutual benefits to the partners and that ISI becomes actively involved in Pump and Abrasion Technologies."

ISI co-founder and director Muvhango Netshitangani said ISI was in complete agreement that these criteria were met.

“The culture within our two companies is a perfect fit and met our expectations on all counts. With this partnership, we see great potential for expansion and continued success within the mining industry,” he said.

Pump and Abrasion Technologies sales and marketing director James Pienaar added that ISI was selected as a strategic partner as its ethics, business culture and objectives aligned strongly with that of the slurry pump group.

“ISI’s strong record in the mining industry underpinned our decision,” he concluded.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (08/11/2024)
8th November 2024 By: Martin Creamer
Magazine round up | 08 November 2024
Magazine round up | 08 November 2024
8th November 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.106 0.202s - 189pq - 2rq
Subscribe Now