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ENV
ENV
ENV - Enviroserv Holdings Limited - Enviroserv concludes two strategic
acquisitions
ENVIROSERV HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1994/000280/06)
Share code: ENV
ISIN: ZAE000010989
("Enviroserv")
Voluntary announcement
ENVIROSERV CONCLUDES TWO STRATEGIC ACQUISITIONS
Enviroserv announced today that it had acquired the Brollo Group and Ply-Pak
(Pty) Ltd during the month of July. Although not material in relation to
EnviroServ`s market capitalisation these are strategic acquisitions that provide
potential future growth areas for the group.
Brollo Group
With effect from 1 July 2007 EnviroServ acquired an 80% stake in the Brollo
group of companies. The Brollo group specialises in the construction and
management of tailings dams for mines and will assist EnviroServ`s mining
clients to manage their environmental impacts responsibly. As mine tailings
typically contribute a significant proportion of a mine`s environmental impact,
managing the impact of tailings is a significant aspect of this challenge.
Integrating this new capability with EnviroServ`s other waste management
offerings will allow the group to provide a total on-site waste management
solution and leverage EnviroServ`s existing mining footprint.
Ply-Pak (Pty) Ltd
With effect from 30 July 2007, EnviroServ acquired a 70% stake in Ply-Pak (Pty)
Ltd, based in Pietermaritzburg, Kwa-Zulu Natal. Ply-Pak manufactures a highly
durable composite material comprised primarily of waste plastic and waste wood.
The composite is used to manufacture a high quality composite decking, replacing
scarce hard woods, and pallets for transporting goods, particularly for export
purposes where wooden pallets are becoming less acceptable. Composite pallets
are strong, inert and have a longer life span and are environmentally friendlier
if made from recycled plastic and disposed of properly. EnviroServ intends
producing and marketing a `green pallet`, manufactured entirely from recycled
plastic, through Ply-Pak.
Both of the acquisitions are subject to Competitions Commission approval.
24 August 2007
Sponsor:Investec Bank Limited
- ends-
Date: 24/08/2007 11:52:01 Produced by the JSE SENS Department.
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