| Wed 3 Jul 2002, 0:00 | | Unitrans Limited - Unitrans Furthers Bee Commitmen |
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UNITRANS LIMITED - UNITRANS FURTHERS BEE COMMITMENT
MEDIA RELEASE
3 JULY 2002
Wednesday 3 July 2002 - Johannesburg, South Africa - Unitrans Express
Deliveries (Pty) Limited (UED), a wholly owned subsidiary of Unitrans
Limited (Unitrans), today announced that leading black managed and owned
investment company, Mvelaphanda Strategic Investments (Mvelaphanda), has
acquired a 25% stake in its business for an undisclosed sum.
UED is the authorised service provider in southern Africa for United Parcel
Services (UPS), the world`s largest global transportation company.
The investment by Mvelaphanda is expected to expand UED`s business within
the industry and, at the same time, further the commitment of Unitrans to
Black Economic Empowerment (BEE) in South Africa.
"We are confident that after extensive research we have chosen the best BEE
partner to provide value add empowerment capital and services," says Jo
Grov, CEO of Unitrans. "Mvelaphanda has been a remarkably successful
venture, having grown its asset base significantly in a broad cross section
of business over the past four years, and is well respected as a true broad-
based empowerment operation. We are looking to them to assist us in growing
UED`s market share and in identifying new opportunities."
Limpho Hani, the appointed non-executive chairman and a representative of
Mvelaphanda, says: "Unitrans is our partner of choice as it is the leading
logistics company in South Africa. UED is a very well run company with
exceptional opportunities for growth. We believe that it is well positioned
to make a good return for all its stakeholders."
"This investment into UED presents another opportunity for black empowerment
groups to showcase their skills, talents and ability to manage logistics in
the interest of growth, development and job creation," she adds.
She says this deal is an investment in people and fundamental to the success
of the company is the mentoring, training and skills transfer programmes
between the two partners. Hani adds: "The involvement of a broad
stakeholder base via Mvelaphanda will ensure that black economic empowerment
is entrenched in levels within Mvelaphanda and UED.
"I intend encouraging UED to develop a procurement policy to support
suppliers from historically disadvantaged backgrounds, thereby making a
contribution to the future growth of South Africa."
The relationship between Unitrans and Mvelaphanda has the full support of
UPS. "Unitrans is our trusted partner in South Africa," stated Andy
Connelly, Managing Director of UPS East and Central Europe, Middle East and
Africa Region. "We have every confidence that it has selected the best
available partner for our shared business."
Mvelaphanda recently entered into an agreement with Unitrans Freight, the
freight subsidiary of Unitrans, in terms of which the South African
operations of Unitrans Freight were transferred into a new company, Unitrans
Freight and Chemical (Pty) Limited. The shareholding was divided between
Unitrans Freight (Pty) Limited (75%) and Mvelaphanda (25%).
The UED board of nine people includes two members of Mvelaphanda, Limpho
Hani (non-executive chairman) and Craig Lyons (director representing
Mvelaphanda). Managing Director is Konrad Peter and the balance of the
board includes Jo Grov, Philip Dieperink, Alan Young, Sandra Brooks, Bruce
Chaplin and Chris Vermeulen.
About UED
UED is a wholly owned subsidiary of diversified transport, distribution and
logistics group, Unitrans . UED is the authorised service provider for UPS
in South Africa, Lesotho, Swaziland, Namibia and Botswana.
UPS is the world`s largest global transportation company, offering the most
extensive range of e-commerce and supply chain solutions for the movement of
goods, information and funds.
About Mvelaphanda
Mvelaphanda is a wholly owned subsidiary of Mvelaphanda Holdings (Mvela).
Established in 1998, by Mr Tokyo Sexwale, Mvela has emerged as a leading
black owned and managed Investment Company.
Mvela has a diverse shareholder participation that enables it to contribute
to the benefit of a constituency previously excluded from the business
sector. Mvela has an inclusive philosophy towards empowerment and believes
that community participation is critical to it future success.
Mvelaphanda focuses on equity investment opportunities in a number of
industries including transport, healthcare, security, information technology
and telecommunications.
Issued on behalf of Unitrans
Express Deliveries: Betty Lidbetter
Unitrans Services
Tel: +27 11 442 8551
Cell: +27 82 334 4251
E-mail: bettyl@unitrans.co.za
For more information, contact: Konrad Peter
Unitrans Express Deliveries
Tel: +27 11 961 4500
Cell: +27 83 440 8144
Email: eur1ktp@europe.ups.com
Or contact: Limpho Hani or Craig Lyons
Mvelaphanda Strategic Investments
Tel: +27 11 327 5430
Cell: +27 83 307 3265
E-mail: craig@mvelaphanda.co.za
Sponsor: Gensec Bank Ltd
(Theodore de Klerk
or Kaylene Morris)
Tel: 011 778 6000
Cell: 082 496 8626
e-mail: Theodoredk@gensec.com
Date: 03/07/2002 11:00:00 AM Produced by the SENS Department
