IST Acquisition Will Broaden Solutions Range
IST GROUP LIMITED
Incorporated in the Republic of South Africa)
(Registration number 1998/011521/06)
Share code IST ISIN ZAE000015798
For further information, please contact
Harry Coetzee, Chief Executive 012-426-7300 or 082-881-9255
Hannes Visagie, Director on 012-426-7456 or 082 565 9523
IST ACQUISITION WILL BROADEN SOLUTIONS RANGE
Pretoria, 13 December 2002 - IST Group has announced that it has acquired the
business of asset management solutions provider MST (Pty) Ltd for an undisclosed
amount. The deal is in line with the cash-flush technology group`s stated
intention of extending the reach of its core operations through selective
acquisitions.
MST uses high-technology software products supplied by its international
principals to develop management programmes focused on areas such as work and
asset maintenance and production scheduling for clients with capital-intensive
fixed assets, particularly large manufacturing and mining companies. The
Pretoria-based company, founded in the 1980s, has an extensive customer base
with more than 3 000 users at over 80 sites across Africa.
IST executive director Hannes Visagie said MST had a sound track record, a
strong client list and access through its principals to advanced software
products. Its relationship with companies such as MRO Software, Intermat and
Rockwell Automation also includes project consultation, training and
implementation.
"Like most of IST`s existing businesses, MST is essentially a value-adding
integrator and adaptor of sophisticated technologies derived from global
industry leaders. We see a considerable synergy between MST and our other
operations and with that the opportunity to develop this business`s full profit
potential," Visagie said.
Issued by du Plessis Associates on behalf of IST Group.
dPA contact: Kathy du Plessis on tel:011-728-4701, fax:011-728 2547,
mobile:083 266 5847 or e-mail: ist@dpapr.com
web site at www.istltd.com
Date: 13/12/2002 03:18:00 PM Produced by the JSE SENS Department
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