Yorkcor - Media Release
York Timber Organisation Limited
KOMATILAND FORESTRY PACKAGE:
PAHARPUR EMPOWERMENT CREDENTIALS STRONG
Following an announcement that listed timber products group Yorkcor
would join forces with reserve bidder, Paharpur Cooling Towers, in its
pursuance of the Komatiland forestry package, chairman Solly Tucker has
been questioned as to the credentials of empowerment partner, Sefateng.
Tucker says he is not surprised at this scrutiny as media reporting had
indicated that Zama had been awarded the privatisation on the strength
of its empowerment credentials. "Sefateng`s empowerment credentials are
as strong and broad-based as those of Zama Resources`" asserts Tucker.
Sefateng Consortium`s structure includes a range of community and
business organisations, including the Soweto Chamber of Commerce and
Industry, the Returned Exiles` Association, the South African
Volunteers` Association, the Congress of Traditional Leaders of South
Africa (Contralesa), the South African Graduates` Development
Association, the South African Youth Council, agricultural co-
operatives, housing co-operatives, women`s organisations and the
Disabled Empowerment Concerns Trust.
Tucker says Sefateng would acquire 24% of shares in Komatilands were
Paharpur to be awarded the Komatiland forestry package, 75% is of which
is being privatised.
At government`s request, last week Paharpur has extended the validity of
his offer until 21 August 2002.
Ends
ISSUED Yorkcor Limited
FOR :
CONTACT Solly Tucker 012 804 9730 Cell: 082 579 0717
:
FAX NO 012 804 8611
:
E-MAIL Sol@yorkcor.co.za
:
ISSUED TISH STEWART PR ASSOCIATES
BY :
CONTACT Tish Stewart (011) 325 4195 Cell: 082 443 6399
:
FAX NO (011) 325-4199
:
E-MAIL Tish@tspr.co.za
:
DATE : 29 July 2002
Date: 29/07/2002 05:07:10 PM Produced by the JSE SENS Department
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