| Thu 3 May 2007, 8:44 | | BAW - Barloworld - Enters into joint venture in Ka |
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BAW
BAW
BAW - Barloworld - Enters into joint venture in Katanga Province, Democratic
Republic Of Congo
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(ISIN: ZAE000026639)
("Barloworld")
BARLOWORLD ENTERS INTO JOINT VENTURE IN KATANGA PROVINCE, DEMOCRATIC REPUBLIC OF
CONGO
Barloworld Limited has entered into, through its Barloworld Equipment division,
a 50:50 joint venture transaction with its Caterpillar dealer counterpart in the
Democratic Republic of Congo (DRC), Tractafric Equipment. The joint venture,
known as Congo Equipment, will service the earthmoving equipment needs of DRC`s
copper and cobalt rich Katanga Province.
Congo Equipment has been formed on the basis of an agreement between Caterpillar
and the two dealers to provide equipment solutions to customers in the Katanga
Province. It relies on Barloworld Equipment`s expertise in the southern African
mining industry and its strong presence in the adjacent Zambian Copperbelt, from
which access to Katanga`s mining territories is relatively easy.
Barloworld Equipment is the Caterpillar dealer for South Africa and neighbouring
countries, Namibia, Botswana, Angola, Zambia, Zimbabwe, Malawi and Mozambique.
Tractafric Equipment holds the Caterpillar dealership for the DRC and several
other French speaking countries in Africa, namely Gabon, Morocco, Chad,
Cameroon, Congo (Brazzaville), Central African Republic, Equatorial Guinea,
Rwanda and Burundi.
.
Congo Equipment combines Tractafric`s presence in and knowledge of the DRC with
Barloworld Equipment`s experience and expertise in partnering with customers
across the sub-continent to provide Katanga`s mining, construction and allied
industries with the equipment and support necessary.
Barloworld Equipment and Tractafric Equipment are currently setting up an
administrative centre for the joint venture in Lubumbashi, with a full facility
including parts store and workshops to be located in the main copper mining area
of Kolwezi.
Clive Thomson, CEO of Barloworld Ltd, said "This partnership provides us with
further growth potential in the southern African region. Both partners have
excellent experience in tackling tough African conditions, and together we will
provide a superior service and product to the growing mining and allied services
industry in Katanga as activity picks up in the province."
Sandton
3 May 2007
Sponsor: JPMorgan
Date: 03/05/2007 08:44:02 Produced by the JSE SENS Department.
