| Wed 4 Feb 2009, 12:40 | | TWP - TWP Holdings Limited - TWP announces group restructure |
|
TWP
TWP
TWP - TWP Holdings Limited - TWP announces group restructure
TWP Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/025640/06
Share code: TWP ISIN: ZAE000110763
("TWP Holdings", "TWP" or "the group")
TWP announces group restructure
To achieve maximum synergy within the group, increased operational efficiency
and a reduction in overhead costs, TWP Holdings will introduce a new group
structure which will affect some of its operating divisions. Most of the group`s
engineering and project management expertise will now be structured under a new
entity, TWP Projects. In turn, TWP Projects will have three major divisions: TWP
Mining, TWP Process and TWP Energy, focusing on the mining sector, the process
industry and the power industry respectively.
With the acquisition of 100% of TWP Matomo Process Plant (TMP) last year, TWP is
now able to integrate its significant process and plant engineering team fully
within the group. As a relatively new division, TWP Energy will be able to tap
into the group`s substantial depth and breadth of expertise.
Group CEO Nigel Townshend says the new structure will align group operations,
streamline the service delivery process and create operational efficiencies.
TWP is now investigating options to bring some 1 000 staff within the new TWP
Projects division together on the same premises.
As part of the reorganisation, TWP Finance, under the leadership of Dean
Cunningham, has been renamed TWP Investments. A new division, TWP Operations,
will be created to focus on TWP-owned process plant operations and on managing
plants for and on behalf of TWP clients.
While other TWP group companies remain unaffected by this development, Townshend
says there will be a keen and ongoing focus on maximising synergy and minimising
overheads throughout the group.
ENDS
Issued by: Serendipity Events, Promotions & Exhibitions
On behalf of: TWP
Editorial contact: Loll Thomson (011) 467 2133
Mail to: loll@sepe.co.za
Client contact: Nigel Townshend
Mail to: ntownshend@twp.co.za
Date: 4 February 2009
Sponsor: Nedbank Capital
Date: 04/02/2009 12:40:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
