Johannesburg - Wednesday August 1, 2001
Vincent Mntambo (44), a director of Sediba Consulting, was appointed to the
Aveng board as a non-executive director on July 31, 2001.
Mr Mntambo, who has a B Juris LLB and a LLM (Yale), is also the current
non-executive chairman of the governing body of the Commission for
Conciliation, Mediation and Arbitration and a non-executive director of
Eyesizwe Mining (Pty), Eyesizwe Coal (Pty) and Everest Systems Solutions
(Pty). He is a past president of the South African Association for Conflict
Intervention. From April 1995 to April 1998 he was director-general of the
Gauteng Provincial Government.
Aveng chairman Richard Savage said: "We are delighted to welcome Vincent to
our board and are sure that his contributions will add a new dimension to
our board deliberations. He has considerable skills in the areas of
mediation and conciliation and his experience gained as director-general of
the Gauteng Provincial Government, during which period the Ministry of
Public Service and Administration judged the Gauteng the best run province
in South Africa, will be invaluable."
The Aveng board now comprises:
Non-executive
* Richard Savage (chairman)
* Phil Erasmus (deputy chairman)
* Colin Campbell
* James Hersov
* Peter Owen
* Vincent Mntambo
* Mervyn Taback
Executive
* Carl Grim (managing director)
* Dennis Gammie (financial director)
* Ernie Behr
* Frank Crowley
* Alan Dawson
* Mike Doyle
* Howard Jones
* Wolf Wassermeier
Please note:
Aveng Limited is a South African based construction-related group. It was
listed on the JSE Securities Exchange SA in July 1999 and is aiming to be a
globally competitive construction-related company focused principally on the
developing world.
Its major businesses are
* Grinaker-LTA Limited - South Africa's largest construction company
organised into three divisions: Grinaker-LTA Construction and Development;
McConnell Dowell which is listed on the Australian and New Zealand stock
exchanges and in which Grinaker-LTA holds 64%, and Grinaker-LTA Engineering
and Mining Services. Aveng holds 100% of Grinaker-LTA.
* Trident Steel (Pty) Limited - South Africa's second largest steel
merchant. Aveng holds 100% of Trident.
* Alpha Limited - South Africa's second largest cement manufacturer.
Aveng holds 46% of Alpha and the Swiss group Holcim, one of the world's
leading suppliers of cement, aggregates and concrete, holds 54%.
Aveng's objectives are to
* Achieve a PE rating in the top three of the BCE sector
* Long-term real ROE of 10%
* 25% of earnings offshore by 2003
Visit our website - www.aveng.co.za
ends
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ON BEHALF OF: AVENG LIMITED
FURTHER INFORMATION: PENELOPE GRACIE
CONTACT: OFFICE +27 (11) 447-3301
MOBILE 082-55-77-444
Penelope Gracie Investor Relations
Tel: +27 (11) 447-3301
Fax: +27 (11) 447-3319
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e-mail: penelope@pgir.co.za
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